Dublin, May 05, 2023 (GLOBE NEWSWIRE) -- The "Gene Expression Market by Products, Application, End-user: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The gene expression market was valued at $8,505.71 million in 2021 and is estimated to reach $17,960.77 million by 2031, exhibiting a CAGR of 7.7% from 2022 to 2031.
Gene expression is the process by which the information encoded in a gene is turned into a function. This mostly occurs via the transcription of RNA molecules that code for proteins or non-coding RNA molecules that serve other functions. Gene expression can be thought of as an "on/off switch" to control when and where RNA molecules and proteins are made and as a "volume control" to determine how much of those products are made.
The key factors that drive the growth of the gene expression market is the rising demand for personalized medicine and technological advancement in genomics such as next-generation sequencing and CRISPR technology that have enabled the development of gene expression products with higher precision and accuracy.
For instance, in March 2021 Thermo Fisher Scientific announced the completion of the U.S. Food and Drug Administration (FDA) listing for the applied biosystems QuantStudio 5 Dx Real-Time PCR System. The QuantStudio 5 is a comprehensive gene expression platform designed to provide high-throughput gene expression data on the go.
This innovative product enables clinical laboratories and assay developers to meet testing demands and enhance molecular diagnostics workflows. Thus, the rise in the prevalence of chronic disease, and development of technologically advanced solutions is anticipated to boost the growth of the market.
However, the high cost of instruments for gene expression and lack of skilled professional hampers the market growth. Conversely, increased investments in R&D for the development of new technologies for tissue-specific or cell-specific gene expression analysis, as well as increase in the prevalence of chronic and genetic diseases may open up the new market potential for gene expression and are expected to provide a lucrative opportunity for the growth of the market during the forecast period.
Market Dynamics
Drivers
- Increase in the prevalence of genetic disorders.
- Growing application of gene expression in drug discovery
- Rise in the demand of personalized medicine for genetic disorders
Restraints
- High cost of gene expression instruments & reagents
- Lack of skilled professionals
Opportunities
- High growth potential in developing economies
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the gene expression market analysis from 2021 to 2031 to identify the prevailing gene expression market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the gene expression market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global gene expression market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By End User
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Others
By Products
- Consumable
- Instruments
- Type
- Polymerase Chain Reaction
- Next Generation Sequencing
- DNA Microarrays
- Others
By Application
- Drug Discovery
- Diagnostics
For more information about this report visit https://www.researchandmarkets.com/r/hocekj
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