The degree of competition among key players operating in the global array instruments market is moderate. As per Transparency Market Research (TMR), Affymetrix, Inc., Agilent Technologies, and Illumina, Inc. together held over 80% of the market in 2013. These companies are in a constant competitive state in order to enjoy sustainable growth. A majority of them are focusing on product innovation and differentiation besides entering into strategic collaborations with retailers to expand their global footprint.
TMR forecasts the global array instruments market to reach US$1.12 bn by the end of 2020 from a valuation of US$830 mn in 2013. The market is therefore likely to exhibit a CAGR of 4.3% between 2014 and 2020. Regionally, North America led the global array instrumentation market in 2013. However, the market in Asia Pacific is expected to report a higher CAGR of 5.7% between 2014 and 2020. By technology, the DNA microarray technology led the market in 2013 with a share of almost 50%.
Advances Introduced in Microarray Technology to Augur Well for Array Instruments Market
The market is currently witnessing strong growth thanks to the high throughput of array instruments and advances introduced in the microarray technology. The recent technological advancements in detection methods and fluorescent labeling have offered considerable advantage in terms of speed, quality, data, and user safety for microarray based assays. This has in turn revolutionized the genetic analysis of biologic systems and the routine use of genomic technologies.
“The use of the microarray technology is likely to increase with the rising demand for early cancer diagnosis,” said a lead TMR analyst. Despite showing effectiveness in restricting tumor growth, the current cancer treatments are criticized because of their subsequent side-effects. Recent studies suggest that the microarray technology can prove a game changer in the diagnosis of leukemia. This new approach could transform the diagnosis and treatment of cancer. Awareness regarding such possibilities is fuelling the sales prospects for array instruments manufacturers.
Besides this, the leading companies in the market are expected to capitalize on laboratory automation. “Robotic and automated workstations are preferred these days as they enable reduction in intense manual labor required for handling several small samples,” the TMR report’s author observes. Furthermore, the market is also expected to gain from the increasing application of the microarray technology in drug discovery and life sciences.
Absence of Data Tools to Limit the Uptake of Array Instruments
Despite witnessing positive growth opportunities, the absence of efficient data tools may restrain the market’s trajectory to an extent. The microarray technology involves complex data management. Inability to handle the staggering volume of data limits the scope for commercialization of the microarray technology, thereby limiting sales of array instruments.
The low penetration of the microarray technology in developing economies due to its high cost is also dampening the market’s growth. The expensive nature of the microarray technology is expected to remain a major bottleneck for the market until local entities launch similar technologies at lower cost. The market is also witnessing tough competition from novel technologies. The advent of newer technologies is expected to reduce the cost of NGS, making them more affordable, which could hamper the array instruments market further.
Advances in Diagnostic Technologies to Fuel Demand for Array Instruments
Recent advances in diagnostic technologies, spurred by the demand for precise diagnosis are propelling the global array instruments market. The demand for identifying genomic differences to detect drug resistance or drug response by patients may offer opportunities to tailor therapies that could cater to the specific characteristics of a given kind of cancer. Furthermore, microarrays are likely to become powerful tools on glycomics study, which in turn will fuel demand for array instruments.
This review is based on findings published by TMR in a report, titled “Array Instruments Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.”
The report segments the global array instruments market as:
Global Array Instruments Market, by Technology:
- DNA Microarrays
- Protein Microarrays
- Tissue Microarrays
- Cellular Microarrays
Global Array Instruments Market, by End Users:
- Research and Development Laboratories
- Clinical diagnostic Labs
- Agriculture Research Centers
- Forensic Centers
- Veterinary Laboratories
Global Array Instruments Market, by Geography:
- North America
- Asia Pacific
- Rest of the World (RoW)
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