Albany, NY -- (SBWIRE) -- 02/15/2016 -- A report from Transparency Market Research, titled 'DNA Chip Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,' states that the global DNA chip market is expected to expand at a rapid pace during the period from 2015 to 2023 due to the increasing prevalence of cancer, the growth in personalized medicines, and technological advancements.

A DNA chip, also known as a DNA microarray, is similar to a computer chip. The major difference between the two is that a computer chip is embedded with electric circuitry, whereas a DNA chip or a DNA microarray is embedded with DNA molecules. A DNA chip comprises a group of DNA spots that are primarily embedded on a solid surface. A DNA gene chip is the size of a postage stamp and this technology is popularly used for drug discovery in the medical research sector. A DNA microarray plays an important role in assisting medical professionals and researchers in simultaneously measuring the levels of expression of thousands of genes.

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The popularity of DNA chips has encouraged many new companies or players to enter the global DNA chip market. Considering all these factors, the global DNA chip market is expected to register double-digit growth during the period from 2015 to 2023. The growth in personalized medicines and large-scale initiatives taken by the governments of many nations to promote DNA chip technology are predicted to propel the global DNA chip market in the coming few years.

By type, the global DNA chip market is classified into oDNA (oligonucleotide DNA) and cDNA (complementary DNA), the former being the dominant segment and accounting for more than 95% of the global DNA chip market. Based on application, the global DNA chip market is classified into comparative genomic hybridization, geneID, gene expression, and others. Currently, the global DNA chip market is dominated by the gene expression segment. This segment is expected to maintain its dominance in the years to come due to increasing funding from the governments of various nations. Contribution from many private players is expected to further propel the gene expression segment in the years to come.

By region, the global DNA chip market is divided into Asia Pacific, Europe, North America, and Rest of the World. Currently, North America dominates the global DNA chip market. However, the Asia Pacific DNA chip market is expected to register aggressive growth in the next few years.

Factors that add value to the global DNA chip market are a strong supply chain, availability of cutting-edge infrastructure, world-class logistical connectivity, and easy availability of a skilled workforce. As per the World Health Organization (WHO), in 2012, globally around 8.2 million people died due to cancer. As per the American Cancer Society (ACS), in 2012, around 300,000 men and around 276,000 women died because of cancer in the United States. The high occurrence of cancer in the region is expected to propel the global DNA chip market in the years to come.

Some of the leading players in the global DNA chip market are Affymetrix, Inc., Biomérieux Sa., Capitalbio Corporation, Eurofins Mwg Operon, Greiner Bio-One, Life Technologies Corporation, Macrogen Inc, Scienion Ag, Savyon Diagnostics Ltd, and Wafergen Biosystems Inc.

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