The global gene expression analysis market is currently experiencing strong growth. Gene expression analysis (GEA) is the method of extracting data from a gene to investigate the behaviour of biological systems. It involves different processes such as gene transcription, translation, post-translational modification of protein and RNA splicing. The data obtained from this analysis is used for the production of proteins, Ribonucleic Acid (RNA) and various microbiological products. They are further utilized for the development of new drugs and improving the existing diagnostic methods. GEA is now widely considered to be essential in explaining the mechanisms that cause numerous medical ailments, owing to which it finds extensive applications in pharmacogenomics, biomarking, toxicology and diagnostics.
The increasing adoption of targeted molecular therapeutics, along with the growing demand for personalized medicines, is among the key factors driving the growth of the market. GEA has proven to be a powerful tool in molecular biology studies, which are used to understand the functioning of genes, diagnose ailments and facilitate drug development. Furthermore, the growing prevalence of chronic diseases, such as cancer, tuberculosis, and cardiovascular and genetic disorders is providing a significant boost to the market growth. Additionally, the development of personalized medicines to cure these ailments has enabled the modifications of diagnostic and treatment methods according to the individual patient requirement. Moreover, various technological advancements, such as the advent of Next Generation Sequencing (NGS), along with the development of genomic databases, higher success rates of GEA and enhanced focus on research and development (R&D) in gene therapy, are further projected to drive the market growth. Looking forward, IMARC Group expects the market to exhibit a CAGR of around 9% during 2020-2025.
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The competitive landscape of the industry has also been examined with some of the key players being Agilent Technologies, BGI, Bio-Rad Laboratories Inc., Eurofins Scientific, F. Hoffmann-La Roche, GE Healthcare, Illumina, Inc., Oxford Gene Technology, Pacific Biosciences of California Inc., Perkinelmer Inc., Qiagen N.V., Thermo Fisher Scientific Inc., etc.
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