Gene Expression Analysis Market by Technology (DNA Microarray, Real-Time PCR, Next Generation Sequencing), Consumables (DNA Chips, Reagents), Services (Gene Profiling, Bioinformatics, Data Analysis Software) & Applications] - Global Forecast to 2018
Dallas, TX -- (SBWIRE) -- 12/09/2014 -- The global gene expression market is segmented into instrumentation, consumables, and services. Based on technologies, the gene expression analysis instrumentation market is further segmented into DNA microarrays, real-time PCR, next-generation sequencing, and others. The consumables market is further categorized into DNA chips and reagents, while the services market is sub-segmented into gene expression profiling services, bioinformatics solutions, data analysis software, and others.
Based on applications, the global market is broadly categorized into diagnostics, drug discovery, biomarkers, and others. Based on geography, the market is divided into North America, Europe, Asia, and the Rest of World (RoW). North America is the largest market, followed by Europe and Asia. However, the Asian market is slated to grow at the highest rate over the next five years.
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Over the years, the demand for gene expression has increased significantly owing to the increasing research on diseases like cancer, Alzheimer's, and Parkinson's. The technological advancements in the field of gene expression are expected to drive the global market in the coming years. Furthermore, advancements in sequencing platforms have also led to the decrease in the cost of sequencing. This is expected to boost the market as the amount of sequencing is likely to increase. The other factors that are driving the growth of the global market are the favorable funding scenario worldwide and increasing usage of gene expression analysis for medical research and diagnosis.
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Another pivotal factor that drives the growth of the market is the increasing attention towards personalized medicine. The use of personalized medicine is believed to yield better results for treatments undertaken. Therefore, pharmaceutical companies are increasingly investing in personalized medicine research. However, the shortage of geneticists and high cost of equipment are factors hindering the market.
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