(PRWEB) March 27, 2014
According to the new market research report, “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,” global gene expression analysis market estimated at $2.6 billion in 2013 and is expected to reach $4.3 billion by 2018, growing at a CAGR of 10.4% from 2013 to 2018.
Browse 72 market data tables and 20 figures spread through 227 pages and in-depth TOC on “Gene Expression Analysis Market" - http://www.marketsandmarkets.com/Market-Reports/gene-expression-analysis-market-156613968.html.
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The “Global Gene Expression Analysis Market (2013-2018)” analyzes and studies the major market drivers and restraints in North America, Europe, Asia, and the Rest of the World (RoW).
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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.
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Over the years, gene expression analysis techniques have evolved significantly and are being widely used in the areas of diagnostics, drug discovery, and treatment of certain diseases. In the past few years, the market has witnessed significant technological advancements, as companies have introduced new products in the market. This technologically driven market has witnessed a large number of offerings by big as well as small companies. In order to be competitive in this market, companies must be focused on delivering superior quality products that are technologically advanced.
Various key growth strategies such as new product launches, acquisitions, expansions, agreements, partnerships, collaborations, and joint ventures were mainly adopted by key players such as QIAGEN N.V. (Netherlands), Agilent Technologies (U.S.), Illumina, Inc. (U.S.), Life Technologies Corporation (U.S.), and Roche Diagnostics Corporation (Switzerland). These players adopted these strategies to increase their market shares. For instance, in October 2013, QIAGEN acquired CLC bio, a leading bioinformatics analysis software provider. This acquisition will position QIAGEN as a leader in next-generation bioinformatics, with a focus on biological analysis and interpretation/reporting. Thus, companies are investing efforts and resources in these strategies to help them gain a competitive advantage in 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.
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