NEW YORK, Nov. 19, 2018 /PRNewswire/ --The gene expression market is projected to grow at a CAGR of 8.8% during the forecast period.
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The global gene expression 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 market can be attributed to factors such as the decreasing cost of sequencing, technological advancements, rise in the number of cancer patients, availability of government funding, novel technologies, growing application areas of gene expression, and availability of gene expression databases. However, high cost of instruments, and shortage of trained professionals may prove to be restraints for the market.The consumables segment is expected to hold the largest market share during the forecast period.On the basis of products and services, the global gene expression market has been segmented into consumables (reagents, DNA chips), instruments (PCR, NGS, Microarray, others), and services (gene expression profiling services, bioinformatics solutions).The consumables segment is expected to hold the largest market share during the forecast period.The decreasing sequencing costs leading to increased adoption of sequencing and other gene expression analysis techniques are driving growth in this market segment.The pharmaceutical and biotechnology companies segment is expected to grow at the highest rate during the forecast period.On the basis of end user, the gene expression market is segmented into pharmaceutical and biotechnology companies, academic institutes and research centers, and other end users.The pharmaceutical and biotechnology companies segment is expected to grow at the highest rate during the forecast period.The large share and high growth of this segment can be attributed to factors such as high volume of research studies involving gene expression analysis and huge capital for high end analysis instruments and consumables.The Asia Pacific gene expression market is expected to grow at the highest rate during the forecast period.Geographically, the gene expression market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World.The Asia Pacific market is expected to grow at the highest rate during the forecast period.The high growth in this region can be attributed to domestic manufacturing of sequencing systems, western partnerships to improve healthcare, high R&D intensity, government focus on cancer and other life science research, and flourishing bioresearch centers.Breakdown of supply-side primary interviews:• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%• By Designation: C-level – 35%, Director-level – 25%, and Others – 40%• By Region: North America - 20%, Europe – 25%, APAC – 40%, and RoW – 15%The major players in the market include Thermo Fisher Scientific, Inc. (US), QIAGEN (Netherlands), Illumia (US), PerkinElmer (US), Agilent Technologies (US), GE Healthcare (UK), Bio-Rad Laboratories (US), F. Hoffmann-La Roche Ltd. (Switzerland), Oxford Gene Technologies (UK), Eurofins Scientific (Luxembourg), and Pacific Biosciences of California (US).Research CoverageThis report studies the gene expression market based on product & services, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.Key Benefits of Buying the ReportThis report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the gene expression market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.Read the full report: https://www.reportlinker.com/p03603155
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