The Microarray Scanner Market size was valued at USD 2.15 Billion in 2022. It is projected to reach USD 4.12 Billion by 2032, with a compound annual growth rate (CAGR) of 7.5% during the forecast period. The growth in market revenue can be attributed to several factors, including the increasing demand for personalized medicine, advancements in microarray technology, and growing government funding for research initiatives.
Personalized medicine is gaining popularity due to its potential to provide tailored therapies for individual patients. Researchers and physicians rely on microarray scanners to develop personalized medicine. Additionally, the rising prevalence of chronic diseases such as cancer, autoimmune disorders, and neurological conditions is driving the demand for microarray scanners. These scanners enable researchers to simultaneously analyze multiple genes, facilitating the development of new medications and therapies for various diseases.
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Key players in the Microarray Scanner Market:
- Agilent Technologies, Inc.
- Thermo Fisher Scientific, Inc.
- Illumina, Inc.
- GE Healthcare
- Bio-Rad Laboratories, Inc.
- PerkinElmer, Inc.
- Merck KGaA
- Carl Zeiss AG
- Scienion AG
- InDevR, Inc.
The market expansion is also fueled by advancements in microarray technology. Continuous improvements in software and tools for data analysis and interpretation have enhanced the precision and efficiency of microarray scanners. Incorporating Artificial Intelligence and Machine Learning algorithms has further improved the performance and accuracy of these scanners. Moreover, the development of portable and handheld microarray scanners has accelerated their utilization in point-of-care and field research.
Segments Covered in the Report –
By Product Type Outlook -
- Confocal Microarray Scanner
- Optical Microarray Scanner
- Laser Microarray Scanner
By Application Outlook -
- Gene Expression
- Genotyping
- Proteomics
- Drug Discovery
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Strategic development:
· Thermo Fisher Scientific made a strategic move in 2021 by acquiring PPD, Inc., a renowned contract research organization (CRO) on a global scale. This acquisition aims to enhance Thermo Fisher Scientific's healthcare and pharma services portfolio, enabling the company to offer comprehensive solutions to its customers in the healthcare industry. By incorporating PPD, Thermo Fisher Scientific will be able to cater to the specific needs of customers in personalized medicine, cell and gene therapy, and biologics, among others.
· In 2020, Illumina, Inc. took a significant step by acquiring GRAIL, Inc. for a notable amount of $8 billion. GRAIL is a healthcare company dedicated to developing a blood test for the early detection of cancer, which complements Illumina's expertise in gene sequencing technology. The purpose of this acquisition is to expand Illumina's presence in the Cancer Diagnostics sector. By leveraging GRAIL's innovative blood testing capabilities and combining them with Illumina's gene sequencing technology, the company aims to make significant advancements in cancer detection and diagnosis.
· Agilent Technologies, Inc. also made a notable acquisition in 2020 by acquiring Resolution Bioscience, a molecular diagnostics company specializing in liquid biopsy testing. This strategic move by Agilent aimed to expand its oncology portfolio and strengthen its capabilities in liquid biopsy testing. By incorporating Resolution Bioscience, Agilent is able to offer advanced solutions in the field of molecular diagnostics, particularly in liquid biopsy testing, which plays a crucial role in cancer diagnosis and treatment monitoring.
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