DUBLIN, Dec. 17, 2020 /PRNewswire/ -- The "Gene Expression Market By Product And Services, By Capacity, By Application, And Segment Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
Increasing demands for cancer medicines, falling cost of sequencing procedures, and a rise in demand for personalized medicines are key factors contributing to the high CAGR of the gene expression market during the forecast period.
The Global Gene Expression Market is expected to reach USD 6.78 billion by the year 2027, in terms of value at a CAGR of 8.1% over the forecast period. Gene expression promises to tap into a previously unexplored segment in the vast and burgeoning genetic engineering industry.
An increase in investments towards technological advancements and a rise in healthcare expenditure are estimated to shape the growth of the gene expression market. Drug discovery & development and increased demand for personalized medicine in chronic diseases, such as cancer, would be the most lucrative applications for gene expression analysis in the forecast period. Application of gene expression in clinical diagnostics, on the other hand, will reflect a moderate growth throughout the analysis period. Moreover, the falling costs of sequencing have facilitated the integration of genomic sequencing into medicine. With the increased availability and lowering costs of DNA technologies, gene expression has become a more readily used tool indispensable in drug discovery and development. Many companies and educational institutions are collaborating to make gene expression publicly accessible through databases, such as the Connectivity Map (CMap), Library of Integrated Network-based Cellular Signatures (LINCS), and the Tox 21 project.
Further key findings from the report suggest:
The industry is witnessing the highest growth in the Asia Pacific region with a CAGR of 3% over the forecast period due to rapid economic developments and the demand for better health care solutions. China has invested heavily in recombinant DNA technology and genetic engineering in recent years, which has positively impacted market potential for the gene expression industry. Increasing government focus on cancer research is also expected to drive growth in this region.
Under the Product and Services segment, the consumables sub-segment is expected to hold a majority of market share until 2027. The Equipment sub-segment is also expected to provide significant opportunities for players who would want to tap into this industry. Polymerase Chain Reaction (PCR), Next Generation Sequencing (NGS), and DNA Microarrays are some novel techniques used in the Equipment segment, driving the growth of the Product and Services segment.
Rise in demand for precision medicine, the complex prevalence of inherited disorders, and rapid advances in biotechnology, coupled with improved focus on advanced healthcare framework and adoption of advanced technology in modern diagnostics and drug development is expected to drive the Services segment during the forecast period with a CAGR of 11.7%
By applications, the market is segmented into diagnostic, drug discovery, and research. Drug discovery held the most significant market share of 43% in 2019, chiefly on account of innovations in cancer prevention drugs and developing drugs for rare inherited disorders. The ongoing research into personalized medicines is also expected to have a significant impact on market growth during the forecast period.
By capacity, the market is segmented into low- to mid-plex and high-plex gene expression. The low- to mid-plex sector was valued at USD 4.38 billion in 2019 and is expected to record the fastest growth during the forecast period. Developments in genetic engineering and stem cell therapy have laid the development of low- and mid-plex techniques.
North America occupied a substantial share of the market at 42.5% during the year 2019. Factors such as the rise of gene therapy, increasing focus on gene expression studies, government initiatives, and the availability of funding for NGS research are driving the growth of the industry in the region.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Gene Expression Market Segmentation & Impact Analysis
Chapter 5. Gene Expression Market By Product and Services Insights & Trends
Chapter 6. Gene Expression Market By Capacity Insights & Trends
Chapter 7. Gene Expression Market By Application Insights & Trends
Chapter 8. Gene Expression Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Thermo Fisher Scientific Inc.
Bio-Rad Laboratories Inc.
Oxford Gene Technology
F. Hoffmann-La Roche AG
For more information about this report visit https://www.researchandmarkets.com/r/im4bgt
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