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Asian region to offer significant growth opportunities to the gene expression analysis market in the coming years
Gene Expression Analysis Market-[By Technology (DNA Microarray, Real-Time PCR, Next Generation Sequencing), By Consumables (DNA chips, Reagents), By Services (Gene Profiling, Bioinformatics, Data Analysis Software) & Applications]-Global Forecast to 2018
The global gene expression analysis market is witnessing a significant growth and will continue to do so in the next five years. The factors contributing to this growth are increased funding scenario worldwide, increased government involvement, developments in research for diseases like cancer, and the use of gene expression in drug discovery and personalized medicine. The Asian region is projected to have the highest growth rate with growth hinged at China, India, and Japan. Apart from Asia, countries such as Turkey, Brazil, and South Africa too have a high projected growth.
In the Asian region, China is the genomic leader. China has cultivated a favorable condition to support gene expression analysis growth. From its humble beginning in 1999 as a helping hand to the Human Genome Project, the Beijing Genomics Institute has emerged to become the world’s largest genomics organization. Today, the organization has regional headquarters across the globe with numerous sequencers contributing largely to the growth of the market in China. In February 2011, Life Technologies set up a new distribution center in China. In April 2013, PerkinElmer collaborated with the National Center for Drug Screening in China to develop personalized medicines. Thus, China plays a significant role in pushing the gene expression analysis market.
The U.S. and European markets are witnessing increasing research for diseases such as cancer, Alzheimer’s, and Parkinson’s. The governments of various countries in these regions have increased their focus on harnessing gene expression technologies for the treatment of these diseases. In the U.S., out of the proposed Federal Research and Development Funding (FY 2014) of $142.7 billion, President Obama has proposed 22.4% ($31.3 billion) for the Department of Health and Human Services. In Europe, the increasing focus on pharmacogenomics and gene therapy is likely to boost the gene expression analysis market. In November 2012, the European Medicines Agency (EMA) approved its first gene therapy product Glybera, manufactured by uniQure. This development has led to many companies increasing their focus on gene therapy. Furthermore, the U.K. government’s plan to sequence the genomes of 100,000 of its citizens is expected to trigger growth in the European region. The situation in RoW is expected to witness some growth as well. This growth can be attributed to government involvement to improve healthcare as well as funding from private organizations for cancer research.
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
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