Microarray Market Expected to Reach $8.4 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Microarray Market," The microarray market was valued at $3.9 billion in 2021, and is estimated to reach $8.4 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031.

Microarray is one of the most recent advances being used for cancer research. Cancer has different stages based on its progression. The principle behind microarrays is that complementary sequences in the DNA bind to each other. As the unknown DNA molecules are cut into fragments by restriction endonucleases. The fluorescent markers are attached to these DNA fragments. These are then allowed to react with probes of the DNA chip. Then the target DNA fragments along with complementary sequences bind to the DNA probes. The remaining DNA fragments are washed away. The target DNA pieces can be identified by their fluorescence emission by passing a laser beam. A computer is used to record the pattern of fluorescence emission and DNA identification. This technique of employing DNA chips is very rapid, besides being sensitive and specific for the identification of several DNA fragments simultaneously. It provides assistance in pharmacological approach to treat various diseases including oral lesions. It also helps in analysing large amount of samples which have either been recorded previously or new samples. It provides a basis to genotype thousands of different loci at a time, which is useful for association and linkage studies to isolate chromosomal regions related to a particular disease. This array also can be used to locate chromosomal aberrations related to cancer, such as segments of allelic imbalance, which can be identified by loss of heterozygosity. Moreover, the microarrays can also be used to study the extent to which certain genes are turned on or off in cells and tissues. In this case, instead of isolating DNA from the samples, the RNA is isolated and measured. However, with the advent of new DNA sequencing technologies, some of the tests for which microarrays were used in the past now use DNA sequencing instead. But microarray tests still tend to be less expensive than sequencing, so they may be used for very large studies, as well as for some clinical tests.

The microarray market trends that aid the growth are increase in the application of microarray technique in the cancer research, increase in number of R&D activities for new and efficient products development and increase in healthcare expenditure have significantly contributed toward the growth of the market. Moreover, the development of new products with high potential of emerging economies are further expected to provide new opportunities for microarray market size expansion. However, lack of skilled professionals restrains the microarray market growth.

The impact of COVID-19 pandemic on the microarray industry was seen to be fairly positive owing to the increased application of microarray technique in the pandemic situation to detect the molecular tests and for mapping COVID-19 antibody. According to the article of National Institute of Health published in April 2021 named ‘CovidArray: A Microarray-Based Assay with High Sensitivity for the Detection of Sars-Cov-2 in Nasopharyngeal Swabs’, the microarray analysis was used to detect SARS-CoV-2 markers N1 and N2 in the nasopharyngeal swabs. The method was based on solid-phase hybridization of fluorescently-labeled amplicons upon RNA extraction and reverse transcription. This approach combined the physical-optical properties of the silicon substrate with the surface chemistry used to coat the substrate to obtain a diagnostic tool of great sensitivity. In addition, the advantages of using microarray technique with other techniques also triggered the demand for the microarray analysis.

By product & services, the market is classified into consumable, instruments, software and services. The consumable segment is projected to exhibit the highest CAGR of 8.1% during the forecast period due to its increase the usage of instruments, and expected launch of pipeline products.

By type, the market is classified into DNA microarray, protein microarray, other microarray. The protein microarray segment is projected to exhibit the highest CAGR of 8.5% during the forecast period due to surge in the demand of protein microarray analysis, and increase in the prevalence of diseases like cancer.

By end user, the market is classified into research and academic institutions, pharmaceutical and biotechnology companies, diagnostic laboratories, other end users. The research and academic institutes segment is projected to exhibit the highest CAGR of 8.5% during the forecast period, owing to increase in prevalence of chronic diseases and rise in number of tobacco smokers which lead to disease like lung cancer.

By Region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). Asia-Pacific is expected to grow at the highest CAGR of 9.9%, owing to increase in number of cancers affected population and rise in awareness related to microarray analysis.

KEY FINDINGS OF STUDY

• By product & services, the consumable segment accounted for major microarray market share in 2021.
• By type, the protein microarray segment is anticipated to grow with the highest CAGR throughout the forecast period.
• By end user, the research and academic institutes segment is anticipated to grow with the highest CAGR of 8.5% throughout the forecast period.
• By region, North America occupied major share of the global microarray industry in 2021.