Gene Expression Analysis Market worth $6.2 billion by 2029
Gene Expression Analysis Market in terms of revenue was estimated to be worth $4.2 billion in 2024 and is poised to reach $6.2 billion by 2029, growing at a CAGR of 8.1% from 2024 to 2029 according to a new report by MarketsandMarkets™. The gene expression analysis market is experiencing significant growth due to several key factors. Firstly, the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular disorders is driving the demand for advanced diagnostic and therapeutic solutions. Gene expression analysis plays a crucial role in understanding the genetic basis of these diseases, enabling personalized medicine approaches for more effective treatments. However, the high cost of instruments & consumables and concerns associated with data privacy and security are expected to restrain the market growth during the forecast period.
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The assays & kits segment accounted for the largest share of reagents & consumables in the gene expression analysis market in 2023.
By reagents & consumables, the gene expression analysis market has been further categorized into assays & kits, enzymes, DNA chips, and others. Assays & kits accounted for the largest share of the gene expression analysis market in 2023. The increasing adoption of high-throughput technologies such as next-generation sequencing (NGS) and microarray analysis has boosted the demand for assays and kits. These technologies generate large amounts of data, and assays and kits help in streamlining the workflow, from sample preparation to data analysis.
The drug discovery & development application segment is expected to grow at a higher rate during the forecast period.
Based on technology, the gene expression analysis market has been segmented into drug discovery & development, clinical diagnostics, and other applications. In 2023, the drug discovery & development segment accounted for the largest share of the gene expression analysis market and is expected to grow at a higher growth rate during the forecast period of 2024-2029. The share share of drug discovery & development application is attributed to gene expression analysis is instrumental in the preclinical and clinical stages of drug development. In preclinical studies, researchers use gene expression profiling to assess the efficacy and safety of potential drug candidates. This helps in selecting the most promising candidates for further development, reducing the time and cost associated with drug discovery.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the end user segment in the gene expression analysis market in 2023.
Based on end user, the gene expression analysis market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and other end users. In 2023, pharmaceutical & biotechnology companies accounted for the largest share of the gene expression analysis market. As the pharmaceutical & biotechnology companies heavily rely on understanding how genes are expressed in various disease states to identify potential drug targets. Gene expression analysis helps in pinpointing genes that are upregulated or downregulated in diseases, providing valuable insights into disease mechanisms and potential therapeutic interventions.
The North America region accounted for the largest share of the gene expression analysis market in 2023.
The gene expression analysis market is segmented into North America, Europe, Asia Pacific (APAC), Latin America (LATAM), the Middle East, and Africa. The North American region is observing rising investments in the field of drug discovery & development. Moreover, the need for advanced therapies due to the rising rate of chronic diseases such as cancer has contributed to the growth of the gene expression analysis market. The supportive government regulations in North America for the development of mAbs and biosimilars also contribute to market growth.
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Gene Expression Analysis Market Dynamics:
Drivers:
1. Advancements in gene editing technologies
2. Increasing funding initiatives for genomic research
3. Growing preference for therapeutic applications
4. Declining costs of sequencing technologies
Restraints:
1. High cost of instruments & consumables
2. Concerns associated with data privacy and security
Opportunities:
1. High growth potential across non-clinical applications
2. Machine learning and AI
3. Growing focus on single-cell analysis
Challenge:
1. Extensive timelines for product approval
2. Data interpretation challenges
Key Market Players of Gene Expression Analysis Industry:
Key players in the gene expression analysis market are Thermo Fisher Scientific Inc (US), Bio-Rad Laboratories Inc. (US), Illumina Inc (US), QIAGEN (Netherlands), F. Hoffmann-La Roche (Switzerland), Revvity (US), PacBio (US), Agilent Technologies Inc (US), Oxford Gene Technology IP Limited (UK), BGI (China), Eurofins Scientific (Luxembourg), Standard BioTools (US), Oxford Nanopore Technologies plc (UK), GenScript (US), Takara Bio Inc (Japan), 10x Genomics (US), Zymo Research Corporation (US), Twist Bioscience (US), Promega Corporation (US), LGC Limited (UK), CD Genomics (US), NanoString Technologies Inc. (US), BioSpyder, Inc (US), Integrated DNA Technologies, Inc (US) and New England Biolabs (US).
The primary interviews conducted for this report can be categorized as follows:
- By Respondent: Supply Side- 70% and Demand Side 30%
- By Designation: Managers – 45%, CXOs and Directors – 30%, and Executives- 25%
- By Region: North America -45%, Europe -20%, Asia-Pacific -20%, Latin America -10%, Middle East & Africa- 5%
Gene Expression Analysis Market – Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall gene expression analysis market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.
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