Some of the applications using gene expression analysis are pharmacogenomics, diagnostics, toxicogenomics, and biomarkers. However, the high cost of instruments and the need for skilled professionals to operate these highly sophisticated systems are factors that are hindering the market.
The services segment is the fastest-growing segment in the gene expression analysis market. The gene expression analysis services market consists of gene expression profiling, bioinformatics solutions, data analysis software, and others. The gene expression profiling services is further segmented into sequencing services, microarray services, and qPCR services. This segment accounts for the largest share in the services segment. The decreasing cost of sequencing and increasing focus on the discovery of new information has increased the demand for sequencing services.
In the years to come, the gene expression analysis market is expected to experience the highest growth in the Asian region with emphasis on China, India, and Japan. These countries will serve as new revenue pockets for companies involved in gene expression analysis market. The high growth in these regions can be attributed to the increased involvement of their respective governments, increased funding scenario, and collaborations with established market players. Apart from Asia, countries such as Brazil, Turkey, and South Africa are also projected to have high growth in the gene expression analysis market. The U.S. and Europe are mature gene expression analysis markets. Increasing research in diseases like cancer, Alzheimers, and Parkinsons and focus on gene-related discoveries are expected to propel the demand in these regions. RoW includes regions such as Latin America, Africa, the Middle East, and the Pacific countries. These markets are slated to grow at a steady pace. However, with countries in these regions increasing their focus on research and gaining funds, these regions could be considered as potential high-growth regions.
The global gene expression analysis market witnesses high competitive intensity as there are many big and small firms with similar product offerings. These companies adopt various strategies (innovations, acquisitions, and geographic expansions related to endoscopy products) to increase their market shares and to establish a strong foothold in the global market.