The microarray analysis market was around $3,847 million in the year 2021, and will reach over $9,011 million in the future. The main factors responsible for the growing use of this procedure comprise the increasing occurrence of cancer, initiatives by the government for genomic research, and the increasing purposes of microarrays. This kind of analysis is mostly used in biomarker identification, pharmaceutical screening, and toxicology screening, to recognize the alteration in the DNA. Furthermore, microarray analysis is used for screening numerous genes at once.
Short single-stranded DNAs of genetic ailments are produced for analysis, combined with the patient’s DNA. The DNA binds unnaturally to the DNA produced, and the coherent material is used for detecting the type of cancer. Hence, the increasing cancer incidence contributes to the increase in the demand for microarrays analysis.
Approximately 2 million new cases of cancer are diagnosed and nearly 609,000 deaths are likely from cancer in the U.S. in 2022. As per the estimates of the American Cancer Society, about 1,918,030 Americans will be identified with cancer, and nearly 5,250 new cases detected every day. This is more than about 1.8 million new cases that happened in 2021.
Research & academic institutes were responsible for the largest sales of the associated products, and the sales will reach nearly $4.0 billion in the years to come. The number of human genome study projects increased in the past. Microarrays are mostly used for cancer drug discovery. Hence, the snowballing R&D funding will fuel the expansion of the microarray analysis industry around the world. Furthermore, pharmaceutical & biotechnology corporations will witness swift advance because of numerous research programs conducted by them for drug development.
North America had the maximum demand for microarray analysis. It will witness significant growth in the future, because of the fact that the federal government and that of Canada are unceasingly increasing their share of funding for cancer research. Europe North follows North America, because of the sophisticated healthcare sector, advanced R& D infra, and availability of the related products. The use of point-of-care testing for the detection of cancer has increased in Europe.
With the increasing incidences of cancer, the demand for the procedure of microarray analysis is on the rise.
