Microarrays Market to Receive overwhelming hike in Revenues by 2021

North America, followed by Europe, holds the largest market share for microarrays due to technological advancements, improved healthcare infrastructure, increasing research and development activities, usage of personalized medicines, government initiatives and rise in the incidences of cancer in this region. Asia is expected to witness high growth rates in the microarrays market in the next few years due to improving healthcare infrastructure, growing prevalence of chronic diseases, rise in government spending, and increasing drug discovery and development activities in this region.

Increasing government spending, rise in research and development activities, need for early cancer detection, increasing healthcare expenditure, and diagnosis and large-scale DNA/gene chip initiatives are expected to drive the market for microarrays. In addition, adoption of personalized medicines, wide range of application areas, and technological advancements are expected to drive the market for microarrays. However, standardization in microarray data and lack of skilled professionals are some of the major factors restraining growth of the global microarrays market.

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Growing population and economies in the developing countries such as India and China are expected to drive growth in the microarrays market in Asia. In addition, increasing number of clinical trials and drug discovery activities, technological advancements such as ChIP-on-chip, CGH, splice variants and microRNAs, broader application area of microarray, and government initiatives are expected to create new opportunities for the global microarrays market.

Increasing number of mergers and acquisitions, rise in the number of collaborations and partnerships, and product launches are some of the latest trends in the global microarrays market. Some of the major companies operating in the global microarrays market are Affymetrix, Inc., Agilent Technologies, Inc., Sequenom, Inc., Roche NimbleGen, Illumnia, Inc., and Applied Microarrays. Other companies operating in the global microarrays market are bioM rieux SA, Discerna, Gyros AB, Luminex Corporation, NextGen Sciences, PLC., and ProteoGenix.

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