The research report, titled “Global Microarray Market 2016-2020,” offers a comprehensive understanding of the global microarray market and discusses the market dynamics governing its future. The report evaluates the market drivers and restraints impacting the global market. Additionally, it also studies the various segments in the market and examines the various strengths, weaknesses, opportunities, and threats governing them. The report has been compiled using primary and secondary research methodologies that help in providing the readers an accurate and an exact understanding of the overall market.
According to the research report, the global microarray market is estimated to progress at a CAGR of 14.34% during the forecast period of 2016 to 2020. This branch of microbiology will be driven by the growing investment in research and development in the biomedical sector. Microarrays are extensively used for target authentication, target classification, compound profiling, pathway analysis, and toxicology studies. All of these elements are integral to drug discovery. The growing number cancer cases and the subsequent rise in number of deaths is also expected to boost the demand for microarrays in the coming few years. The rising focus on several companies on drug discovery is also anticipated to propel the growth of the overall market in the coming few years.
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In terms of geography, the global microarray market is segmented into the Americas, Asia Pacific, Europe, and the Middle East and Africa. The research report states that the Americas will register the highest revenues in the global market during the forecast period. Intensive funding for research and excellent healthcare support are the two key factors propelling the market in the Americas. Furthermore, presence of big pharmaceutical companies in the Americas is also expected to work in regions favor during the forecast period.
The research report includes an assessment of the competitive landscape using a Porter’s five forces analysis. This market measurement tool is estimated to provide the detailed understanding of bargaining power of buyers, threat of new entrants, bargaining power of suppliers, threat of substitutes, and industry rivalry. Researchers state that the global microarray market is exceptionally diversified due to the presence of several players in the market.
Some of the leading players operating in the global microarray market are Agilent Technologies, Illumina, Thermo Fisher Scientific, Merck, Applied Microarrays, Arrayit, AXO Science, BioCat, BioGenex, Biometrix Technology, Cepheid, GE Healthcare, InDevR, LC Sciences, Perkin Elmer, Phalanx Biotech, Qiagen, Takara Bio, and US Biomax. The research report profiles these players and provides a thorough assessment of financial outlook, research and development activities, business and marketing strategies, and strategic mergers and acquisitions for the forecast period.
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