The global gene expression analysis market is projected to reach USD 4.9 billion by 2023 from USD 3.2 billion in 2018, at a CAGR of 8.8%. Growth in the gene expression analysis market can be attributed to factors such as decreasing cost of sequencing, rise in the number of cancer patients, technological advancements, availability of government funding, novel technologies to aid gene expression studies, growing application areas of genomics, and availability of gene expression databases. Growth opportunities in emerging markets and growing use of gene expression analysis in precision medicine are also expected to provide opportunities for players in this market. On the other hand, high instrument costs and shortage of trained professionals are the key factors that are expected to restrain market growth to a certain extent during the forecast year.
The major players in the gene expression analysis market include Thermo Fisher Scientific (US), Illumina (US), QIAGEN (Netherlands), GE Healthcare (UK), Bio-Rad Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland), Oxford Gene Technologies (UK), BGI (China) and Pacific Biosciences of California, Inc. (US). Analysis of the market developments between 2016 and 2018 revealed that several growth strategies such as product launches, approvals, and strategic acquisitions and expansions along with partnerships, agreements, and collaborations were adopted by the market players to strengthen their product portfolios and maintain a competitive position in the gene expression analysis market.
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In 2017, Thermo Fisher Scientific was the largest player in the gene expression analysis market. This can be attributed to major acquisition of Affymetrix and its strong diversified product portfolio in the genetic analysis arena. Thermo Fisher’s strong geographic presence is another asset for the company, with presence in over 150 countries worldwide. The firm also offers Custom Services for Real-Time PCR and Sequencing. The firm strives to maintain its leading position by engaging in inorganic and organic growth strategies such as product launches and acquisitions. The company has a strategic focus on expansions in high-growth emerging markets, such as China, India and the Middle East with China being the major success.
In 2017, Illumina, dominated the global genomics market and held second position. The company is a leader in the DNA sequencing technology and also offers genomic services such as sequencing, library preparation and data analysis. The portfolio of NGS platforms include HiSeq Series (HiSeq 1500 and HiSeq 2500) and MiSeq series. The company’s growth in the sale of consumables also contributed to maintaining its position in this market. It focuses on strengthening its position by entering into numerous agreements, partnerships & collaborations with other players and launching new products to strengthen its product portfolio in the market. From 2016 to 2018 (October), the company engaged in more than 10 product launches and approvals several agreements, partnerships, and collaborations.
Bio-Rad Laboratories was the third largest player in the gene expression analysis market. The strong foothold of the company in the market can also be attributed to the company’s strong portfolio of PCR instruments and consumables. PCR technology is considered as the gold standard for performing gene expression studies. The firm’s sales increase was primarily driven by the growth in Droplet Digital PCR and gene expression product lines, in addition to sales from acquisition of RainDance Technologies in 2017. New product launches has been the dominant strategy adopted by the company. The world wide geographic presence coupled with the new NGS platform to be launched by Bio-Rad is expected to enable the company to maintain its dominance in the market.
Gene Expression Analysis Market by Product and Services (Consumables (Reagents, DNA chips), Instruments (PCR, NGS), Services (Gene Expression Profiling)), End User (Pharma and Biotech Companies, Research Centers) - Global Forecasts to 2023
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