Only about the size of a postage stamp, DNA chips can substantially
decrease the research time for drug discovery and other medical
researches. Consequently, the demand in the market for DNA chip is
anticipated to increment at a formidable CAGR during the forecast
period of 2015 to 2023, gaining additional traction from a number of
factors such as large scale initiatives in the related fields,
rapidly growing demand for personalized medicine, miniaturization of
DNA chips, escalating need for early detection of cancer and
consequent diagnosis and therapeutics, funding from governments in
various developed and emerging economies. On the other hand, the lack
of skilled professionals who have the technical knowledge and
alternate technologies are two important factors challenging the DNA
chip market from attaining its true potential. Nevertheless, the
vendors operating in this market are expected to gain new
opportunities in the emerging economies of Asia Pacific, and
relocation of manufacturing facilities by the leading vendors in
order to gain advantage over the competitors.
Based on product type, the global DNA chip market can be segmented
into drug discovery, genomics, and gene expressions, while
geographically, the report provides projections on the potential of
every important region such as Asia Pacific, North America, Europe,
Latin America, and the Middle East and Africa. This report, created
by professional and experienced market research analysts, aims to
provide figurative evaluations and futuristic estimations of the
market for DNA chips, providing in-depth analysis of all drivers and
restraints, and profiling a number of leading companies to represent
the competitive landscape.
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The increasing attempts to cut down the investment of time and
capital during research activities in the medical and drug discovery
fields are providing a significant momentum to the global DNA chip
market. DNA chips play a critical role in aiding medical researchers
in measuring the expression levels of thousands of genes at the same
time. They are two types, which are oligonucleotide DNA (oDNA) and
complementary DNA (cDNA). They are used in gene identification, gene
expression profiling, and comparative genomic hybridization.
The research report encompasses all the important parameters of the
global DNA chip market, including its dynamics, competitive
landscape, and region-wise outlook. The statistics pertaining to the
market at both global and regional levels are included in the report.
The study profiles key players operating in the market along with
their business strategies, latest developments, and contact
information.
The growing number of deaths due to cancer every year is creating a
pressing need for early cancer detection. According to the American
Cancer Society, by 2030, the number of new cancer cases is expected
to reach 21.7 million and cancer deaths to 13 million. Therefore, the
alarming rate of increase in prevalence is working in favor of the
global DNA chip market. Moreover, the spiraling demand for
personalized medicines is translating into the greater uptake of DNA
chips. The growing investments by governments for research and
development in the field are also stoking the growth of the market.
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However, the dearth of workforce with adequate technical and clinical
acumen is adversely affecting the growth of the global DNA chips
market. On the other hand, market players are relocating
manufacturing facilities to emerging countries to maximize their
revenue generation.
The key segments analyzed in the report in terms of geography are
North America, Europe, Latin America, Asia Pacific, and the Middle
East and Africa. North America will be a prominent market for DNA
chip in the coming years. Rapid clinical advancements in the field in
the region are providing a tremendous boost to the growth of the
market. However, the regional market is poised to reach maturity in
the offing and therefore, register a sluggish growth rate.
Asia Pacific, on the other hand, is estimated to expand at an
aggressive growth rate during the review period. The growing
investments by governments and private organizations in the
development of DNA chips are driving the growth of the region.
Moreover, the increasing number of clinical trials and drug discovery
is fuelling the growth of APAC. Countries such as India, South Korea,
Singapore, and China are major revenue contributors to the growth of
the region. Among these, Singapore will be at the forefront, owing to
the excellent logistics connectivity and supply chain and strong
intellectual property laws.
Key players in the global DNA chip market are relying on extensive
research and development activities to stay ahead. The growing
popularity of DNA chips is attracting new players to venture into
this market, which is likely to intensify the competition in the
market in the near future. The majority of players are aiming at
capitalizing on regions that offer a strong supply chain,
cutting-edge scientific infrastructure, skilled manpower, and
superior logistical connectivity. Some of the prominent companies
operating in the global DNA chip market are Agilent Technologies,
Affymetrix Inc., Eurofins MWG Operon, Biometrix Technology Inc,
Biomérieux SA, Bioneer Corporation, Illumina Inc., Greiner Bio-One,
Macrogen Inc, Microarrays Inc, Scienion AG, Wafergen Biosystems Inc.,
Savyon Diagnostics Ltd, Sigma-Aldrich, Life Technologies Corporation,
Roche Nimblegen Inc, and Sequenom Inc.
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