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DNA And Gene Chip Market Growth Forecast 2024-2033: What’s the Expected Rate?

There has been a swift expansion in the market size of dna and gene chips in the recent past. It is projected to escalate from $7.38 billion in 2023 to $8.4 billion in 2024, experiencing a compound annual growth rate (CAGR) of 13.9%. Factors such as progress in genomic research, the emergence of personalized medicine, breakthroughs in the human genome project, advancements in drug discovery and development, and identification of disease biomarkers have contributed to the historic period’s growth.

Anticipated to experience swift expansion in the coming years, the dna and gene chip market is predicted to reach $13.7 billion in 2028, with an impressive compound annual growth rate (CAGR) of 13.0%. The factors driving this growth during the forecast period include the progression of precision medicine, broadening of biomarker discovery, burgeoning of personalized therapeutics, application within cancer research, and upsurge in research fund allocation. Key trends for the forecast period encompass advancements in technology, innovations in products, regulatory rules and adherence, concentration on rare diseases, and continual cost reduction.

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What Factors Are Impacting the Growth of the dna and gene chip Market?

The escalating need for early diagnosis of cancer is playing a considerable role in the expansion of the DNA and gene industry. Cancer incarnates as a wide category of diseases, potentially arising in any tissue or organ of the body, caused by anomalous cell multiplication that surpasses normal boundaries to invade adjacent organs and disseminates to other areas of the body. DNA and gene microarrays are employed to gauge gene expression designs, comprehend the genetical and epigenetical outlook, and evaluate genomic regulatory components bound by cancer’s vital regulatory proteins in cancer cells. For example, the American Cancer Society, a U.S. based voluntary health organization, predicts that in 2022, there will be around 1.9 million fresh cancer diagnoses and 609,360 cancer fatalities within the United States. Thus, the increasing necessity for early cancer diagnosis is fueling the expansion of the DNA and gene chip sector.

What Are the Fundamental Segments in the DNA And Gene Chip Market?

1) By Type: Oligonucleotide DNA (o-DNA), Complementary DNA (c-DNA), Other Types

2) By Application: Cancer Diagnostics, Gene Expression, Proteomics, Genomics, Drug Discovery, Agrigenomics, Other Applications

3) By End User: Academic And Government Research Institutes, Biotechnology And Pharmaceutical Companies, Hospitals And Diagnostics Centers, Other End Users

What Trends Are Shaping the New Direction of the DNA And Gene Chip Market?

The trend of strategic alliances and cooperative endeavors is increasingly prominent in the DNA and gene chip market. Numerous corporations within the field are seeking such collaborations to fortify their stronghold in the market. A case in point is the June 2022 collaboration between Avesthagen Limited, an India-based integrated systems biology platform company, and Wipro Limited, an India-based IT firm. Post this four-year strategic alliance, both companies have embarked on a venture titled Cancer Risk Assessed by NGS profiling of circulating free DNA and RNA, predominantly about genomics sequencing services related to lung cancer. Another noteworthy alliance initiated in May 2022 is between Thermo Fisher Scientific, an analytical instruments supplier from the US, and Qatar Genome Program (QGP) – a Qatar Foundation (QF) member. The aim of this partnership is to create an Axiom custom genotyping array for pan-Arab populations using the whole genome sequencing information from 19 Arab nations. The goal is to compile an array comprising 800,000 variants, focusing on improving genomic research on conditions like diabetes, cardiovascular diseases, autism, and cancer. This joint endeavor aligns with Qatar’s national vision to boost population health and drives the progression of precision medicine for the global Arab population. Thermo Fisher’s Axiom microarray technology is a vital enabler for these fast-paced precision medicine advancements.

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North America was the largest region in the DNA and gene chip market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the dna and gene chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The DNA And Gene Chip Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the dna and gene chip market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The DNA And Gene Chip Market Include

1. DNA And Gene Chip Market Executive Summary

2. DNA And Gene Chip Market Segments

3. DNA And Gene Chip Market Size And Template Market Growth Rate

4. Key DNA And Gene Chip Market Trends

5. Major DNA And Gene Chip Market Drivers

……

25. Key Mergers And Acquisitions In The DNA And Gene Chip Market

26. Top DNA And Gene Chip Companies

27. DNA And Gene Chip Market Opportunities And Strategies

28. DNA And Gene Chip Market, Conclusions And Recommendations

29. Appendix

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