DNA And Gene Chip Market size is expected to be valued at USD 4,567.2 million in 2022 and is poised to grow at a significant CAGR of 11.8% over 2022–2028. A DNA and gene chip also commonly known as a DNA microarray is a collection of the microscopic holes where DNA resides. DNA microarrays have various applications such as measuring the expression levels of large numbers of genes simultaneously or genotyping multiple regions of a genome, proteomics, cancer detections, and drug discovery. Each DNA spot contains probes, the picomoles of a specific DNA sample. Technological advancements in computational biology, robotics, and fabrication methods for microarrays are driving the DNA and gene chip market growth across the globe. However, the popularity of Next Generation Sequencing (NGS) is hindering the global DNA and gene chip market growth in the recent past and is likely to hinder the global market in the forecasted years, although it is not yet able to completely replace microarrays due to high cost and maintenance problems. Also, stringent regulatory scenarios and entry barriers for start-up companies are key restraints of the global DNA and gene chip market. The key global companies like Thermo Fisher Scientific, Agilent Technologies, Illumina, Perkin Elmer, Arrayit Corporation, Macrogen Inc, and Asper Biotech are continuously influencing the global market through mergers, launching of new products, and massive investment in research and development sectors. On the basis of geography, North America held the major DNA and gene chip market share in the industry and is expected to dominate the market further in the forecasted years. Asia Specific region also registered the highest CAGR in 2021 and is likely to maintain the growth in the upcoming years.
Recent Market Developments:
In Sept 2020, Illumina, Inc. announced a collaboration with 54gene, a health technology company whose mission is to advance precision medicine capabilities in Africa through research, advanced molecular diagnostics, and clinical programs.