DNA Microarray Market Share, Growth and Forecast Report, 2024-2030

NEW YORK - July 2, 2024 - PRLog -- In 2023, the global DNA microarray market generated $1,982.1 million in revenue and is projected to reach $3,930.8 million by the end of the decade, growing at a 10.5% CAGR during the forecast period. The market's growth is driven by increased awareness and application of this technology in detection processes and IT, along with advancements in related software. DNA microarrays have a wide range of applications, including agricultural biotechnology, disease diagnosis and monitoring, protein expression, and proteomics.

DNA microarrays are a crucial advancement for diagnosis, prognosis, targeted therapies, and various other conditions. Traditional disease treatment methods often fail to provide precise diagnoses and treatments, leading to the rise of personalized medicine. Diseases such as cancer and immune disorders, which significantly impact prognosis and treatment, benefit greatly from a comprehensive understanding of the genome. The increasing preference for tailored medicine is driving the industry's growth.

DNA microarrays play an essential role in genome mapping and sequencing. Recently, their application in diagnostics and disease detection, particularly for infectious diseases, genetic disorders, cancer, drug research, and pharmacogenomics, has risen significantly.

Browse detailed report analysis on DNA Microarray Market Trends and Forecast Report, 2030 (https://www.psmarketresearch.com/market-analysis/dna-micr...)

Key Insights:

• The oligonucleotide DNA microarray segment held the largest share at 70% and is expected to maintain its dominance due to cost-efficiency and accurate gene expression monitoring capabilities.
• It is considered a key technique for researching single nucleotide polymorphisms (SNPs) due to its ability to screen hybridization specificity.
• The cDNA microarray segment is projected to record the highest CAGR, owing to its vital applications in studying gene expression across various species.
• In 2023, the pharmaceutical and biotechnology industry held the largest share at over 40%, and this category is expected to remain dominant due to the increased adoption of DNA microarrays in drug discovery and research.
• Growth in research activities for discovering new drug molecules supports industry expansion in this category.
• DNA microarrays are becoming increasingly significant in cancer research by identifying molecular markers with diagnostic potential for various human cancers.
• Hospitals and diagnostic centers will experience the fastest growth, driven by the adoption of DNA microarray technology in clinical diagnostics.
• Advanced laboratories use DNA microarrays to detect numerous polymorphisms in a single assay using biochips.
• In 2023, North America held a significant share of around 40% and is expected to grow at a strong CAGR.
• Key drivers of this growth include the presence of major industry players investing in technologically advanced DNA microarray products.