The latest market report published by Credence Research, Inc. “cDNA and oDNA Microchips Market Growth, Future Prospects, and Competitive Analysis, 2018 – 2026” the cDNA and oDNA microchips market was valued at US$ 458.3 Mn in 2017 and expected to reach US$ 1,050.3 Mn by 2026 to grow at a CAGR of 9.7% during the forecast period from 2018 to 2026.
The global cDNA and oDNA microchips market shows significant growth during the forecast period from 2018 to 2026. The major factors driving the overall growth are increasing applications in drug discovery, medical diagnostics, genomics; biotechnology and cancer research will further generate the overall demand for cDNA and oDNA microchips globally. Gene expression profiling segment dominates the global market; in addition, various applications of cDNA and oDNA microchips in genome testing, gene identification & detection, molecular cytogenetics, and agricultural biotechnology are mapping the global trend. Moreover, cDNA and oDNA microchips are mainly utilized in the early diagnosis of diseases such as cancer on a major scale. Increasing advancements in R&D for DNA microarray technology, government or private funding for various molecular diagnostics, biomarker testing, and genomic testing applications will spur revenue growth in the global market. However, few manufacturers in the U.S. and Europe are facing prominent challenges regarding lack long-term efficacy of DNA chips, miniaturization and high cost for commercial production in the international market. Other external factors include rising government regulations in the U.S, Europe, South Korea, China, and Japan, and less funding and availability of advanced microarray systems. To increase their competitive edge, top key manufacturers have concentrated on the practice of partnerships & collaborations, adoption of new techniques and swift launch of medical technology products.
Increasing utilization of cDNA and oDNA microchips in the medicinal division for research, drug discovery, disease treatment, cancer diagnostics, and biotechnology has also shown a promising growth on the global scale. The inclination for minimized DNA microarrays over complex instruments and systems shows higher acknowledgment by the end users in the U.S.; it can bring numerous DNA microchip applications in a quick and cheap way. Continuous innovative work into the microarray and microfluidic advancements for different applications are additionally expected to support the overall development of the market in the Asia Pacific during the forecast period. The global pioneers in the DNA microarray business are penetrating the Asian markets inferable from their well-disposed industrial and investment strategies. In addition, the rising preference of global life science giants towards implementing cost-saving initiatives by outsourcing their bioprocessing verticals to Asian research companies has resulted in growth in the pace of the Asia Pacific market. Major players have been profiting from expanding interests in the pharmaceutical sector globally. Moreover, domestic and local organizations have easy entry to this market, which makes it the biggest potential market for providers.
Browse the full report https://www.credenceresearch.com/report/cdna-and-odna-microchips-market
Key Market Movements:
- Globally, the cDNA and oDNA microchips market remains to exhibit a profitable growth with a CAGR of 9.7% for the period from 2018 to 2026
- Greater technology advancements in drug discovery and gene expression segment is gaining traction in the market
- Asia Pacific, Latin America, and Eastern Europe to show promising opportunities during the forecast period due to rising awareness, adoption of advanced genome chips
- Growing number of advanced clinical laboratories, and increasing funding for cancer research in developing nations will contribute to the overall growth of the market
- Major players in this vertical are Sequenom, Inc. GE Healthcare, Thermo Fisher Scientific, Roche Nimblegen, Biometrix Technology, Cepheid, Agilent Technologies, Inc., Applied Microarrays, Inc., DNA Chip Research, Inc., DNAmicroarray, Inc., Greiner Bio-One GmbH, Illumina, Inc., Scienion AG, Life Technologies Corporation, Toray International UK Ltd., Affymetrix, Inc., and others