Dublin, Jan. 19, 2024 (GLOBE NEWSWIRE) -- The "Gene Expression Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global gene expression market size has grown rapidly in recent years. It will grow from $10.54 billion in 2023 to $11.68 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth observed in the historical period can be attributed to factors such as an increasing focus on precision medicine, a rise in cancer research and biomarker discovery, the application of gene expression in disease diagnosis and prognosis, integration with systems biology approaches, and the evolving needs in drug discovery and development.
North America was the largest region in the gene expression market in 2023. Asia-Pacific is expected to be the fastest-growing region in the gene expression market in the forecast period.
The gene expression market is expected to see rapid growth in the next few years. It will grow to $18.07 billion in 2028 at a compound annual growth rate (CAGR) of 11.5%. The anticipated growth in the forecast period can be attributed to the emergence of spatial transcriptomics, an increase in epigenomic studies, global health events and pandemic preparedness efforts, a heightened focus on non-coding RNA exploration, and increased utilization in immunotherapy research. Major trends expected in the forecast period include the widespread adoption of single-cell RNA sequencing, advancements in next-generation sequencing technologies, the integration of multi-omics data, progress in gene editing technologies, the development of liquid biopsy techniques, and the application of spatial omics in drug discovery.
The anticipated increase in emphasis on precision medicine is set to drive the growth of the gene expression market in the future. For example, in 2021, precision medicines accounted for over 25% of FDA approvals in the last seven years, with an additional 35% of medicines approved in 2021 being precision medicines, as reported by the Personalized Medicine Coalition. Hence, the heightened focus on precision medicine is a driving force behind the gene expression market.
The increase in chronic diseases is expected to contribute to the growth of the gene expression market in the future. For instance, a report by the National Library of Medicine in January 2023 projected a 99.5% increase in individuals aged 50 years and older with one or more chronic illnesses by 2050 in the United States, reaching 142.66 million, up from 71.522 million in 2020. Therefore, the rise in chronic diseases is poised to drive the growth of the gene expression market.
Technological advancement stands out as a notable trend in the gene expression market, with major companies progressing towards RNA gene expression technology. For instance, in September 2022, Enzo Biochem, Inc., introduced AMPIVIEW, a new platform leveraging RNA gene expression technology for superior sensitivity in detecting and visualizing biomarkers in cells and tissue samples, specifically targeting HPV and SARS-CoV-2.
Major companies in the gene expression market are concentrating on innovative product development, such as gene detection assays, to gain a competitive edge and enhance revenue. Gene detection assays involve methods for identifying and quantifying the presence of genetic molecules, offering insights into the activity and abundance of specific genes. In January 2023, Bio-Techne Corporation expanded its Advanced Cell Diagnostics (ACD)-branded RNAscope in situ hybridization (ISH) portfolio by introducing the RNAscope Plus smRNA-RNA detection assay. This assay allows simultaneous fluorescent detection of a small regulatory RNA along with three target RNAs or RNA biomarkers in a single tissue section, providing single-cell and subcellular resolution.
In October 2021, Bionano Genomics Inc. acquired BioDiscovery for a deal value of $100 million. This strategic acquisition enables Bionano to offer additional structural variations and methylation analysis, providing end-users with a comprehensive genomic view of the sample. BioDiscovery is a company based in the US that specializes in genomic software for clinical and research applications using NGS and/or microarrays.
Report Scope
Markets Covered:
1) By Product: Kits and Reagents; DNA Chip Or Microarray; Other Products.
2) By Process: Sample Collection; Purification; cDNA Synthesis and Conversion; PCR Analysis; Data Analysis and Interpretation.
3) By Technique: RNA Exp; Promoter Analysis; Protein Exp. and Posttranslational Modification Analysis.
4) By Application: Drug Discovery and Development; Clinical Diagnostics; Biotechnology and Microbiology; Other Applications.
Companies Mentioned: Thermo Fisher Scientific Inc.; Qiagen NV; Illumina Inc.; Bio-Rad Laboratories Inc.; Agilent Technologies Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa.
Time Series: Five years historic and ten years forecast.
A selection of companies mentioned in this report includes:
- Thermo Fisher Scientific Inc.
- Qiagen NV
- Illumina Inc.
- Bio-Rad Laboratories Inc.
- Agilent Technologies Inc.
- PerkinElmer Inc.
- GE Healthcare
- F Hoffmann-La Roche Ltd
- Oxford Gene Technology IP Limited
- Promega Corporation
- Quest Diagnostics Inc.
- Interpace Biosciences Inc.
- OriGene Technologies Inc.
- Luminex Corporation
- Takara Bio Inc.
- Danaher Corporation
- ELITechGroup
- AutoGenomics Inc.
- Biocartis Group NV
- Integragen SA
- Oxford Nanopore Technologies Limited
- Phalanx Biotech Group
- QIAGEN Inc.
- Quest Diagnostics Incorporated
- Roche Holding AG
- Sengenics Corporation Pte Ltd.
- GenoSensor Corporation
- GenXPro GmbH
- Twist Bioscience Corporation
- Zymo Research Corporation
- Abcam plc
- Bio-Techne Corporation
For more information about this report visit https://www.researchandmarkets.com/r/7xogis
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