New York, October 07, 2021 – Reports and Data has published its latest report titled “Gene Expression Market, By Product & Service Type (Equipment, Consumables, Services), By Capacity (Low-to-mid-plex Gene Expression Analysis, High-plex Gene Expression Analysis), By Application (Disease Diagnosis, Drug Discovery, Research & Development), And Region – Global Forecast To 2028”
Rising burden of chronic diseases including cancer and increasing biotechnological R&D activities are among the major factors driving market revenue growth
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According to Reports and Data, the global gene expression market size was USD 7,173.7 million in 2020 and is expected to reach USD 13.05 billion in 2028 and register a revenue CAGR of 7.60% during the forecast period, 2021-2028.
Drivers, Restraints, and Opportunities:
The global gene expression market revenue growth is majorly supported by factors such as rising prevalence of chronic and acute diseases, growing need for advanced cancer therapeutics, rising adoption of precision and personalized medicine, and growing significance of gene expression drug discovery and development. Increasing availability of cutting-edge DNA technologies, increasing applications of gene expression in clinical diagnostics, microbiology, pharmacogenomics, toxicogenomics, rise in research & development activities for advanced gene therapies, and rapidly thriving biotechnology industry are other key factors contributing to revenue growth of the global gene expression market.
Growing adoption of bioinformatics tools and emergence of advanced gene sequencing technologies are further expected to create growth opportunities for the global market in the upcoming years. For instance, 10x Genomics, Inc. introduced the 10x-targeted single-cell RNA sequencing technology in May 2020. The new targeted gene expression solution is used in spatial genomics and single-cell analysis, and it helps streamline data analysis by reducing computational burden and enhancing sample throughput.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Services Segment to Account for Largest Revenue Share:
Based on product & service type, the services segment is expected to register the fastest revenue CAGR of 11.7% during the forecast period. The services segment mainly comprises bioinformatics services and gene expression profiling services. Growing need for precision medicine, rising prevalence of genetic disorders, evolution of advanced gene sequencing technologies, and growing use of bioinformatics and gene expression profiling services in modern diagnostics and drug discovery processes are major factors driving growth of this segment.
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Drug Discovery Segment Most Dominant in Terms of Revenue in 2020:
Based on application, the drug discovery segment accounted for the largest revenue share in the global gene expression market in 2020. Rising prevalence of rare inherited disorders, introduction of advanced cancer prevention drugs and therapies, surging demand for personalized medicine, and increasing government investments in drug discovery and development are major factors bolstering growth of this segment.
Asia Pacific to Lead in Terms of Revenue CAGR:
The gene expression market in Asia Pacific is projected to register the fastest revenue CAGR over the forecast period. Factors contributing to revenue growth of the Asia Pacific market include rising demand for advanced gene therapy, increasing focus on gene expression studies, increasing government funding for research & development activities for next generation sequencing (NGS), and rapidly advancing healthcare infrastructure in the region, particularly in developing countries like China and India. Advancements in genetic engineering and DNA technology, and increasing government investments in cancer research are further expected to boost the regional market growth.
Major Companies in the Market Include:
- Agilent Technologies
- QIAGEN N.V.
- Thermo Fisher Scientific
- Illumina, Inc.
- Bio-Rad Laboratories, Inc.
- PerkinElmer Inc.
- Oxford Gene Technology
- GE Healthcare
- Hoffmann-La Roche AG
- Becton, Dickinson, and Company
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For the purpose of this report, Reports and Data has segmented the global gene expression market based on product & service type, capacity, application, and region:
Product & Service Type Outlook (Revenue, USD Billion; Volume, 2018-2028)
Capacity Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Low-to-mid-plex Gene Expression Analysis
- High-plex Gene Expression Analysis
Application Outlook (Revenue, USD Billion; Volume, 2018-2028)
- Disease Diagnosis
- Drug Discovery
- Research & Development
Regional Outlook (Revenue, USD Billion; Volume, 2018-2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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