Global Array Instruments Market is Expected to Reach USD 1.12 billion by 2020
Over the years, array instruments have been used in cell biology, refining molecular biology, molecular pathology, genetics, and most importantly for accelerating drug discovery. These instruments are used for synthesizing or sequencing nucleic acids and as such their demand is increasing.
A new Transparency Market Research report states that the global array instruments market which was valued at US$0.87 bn in 2014 is likely to reach US$1.12 bn in 2020 expanding at a CAGR of 4.30% from 2014 to 2020.
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Q. What are the factors driving the demand for array instruments?
Array instruments enable the early detection and diagnosis of various types of cancers. It enables the detection of the exact type of cancer, metabolic diseases, and post metal diseases. As such, their use in the prognosis of different types of diseases, and especially cancer, is boosting the demand for array instruments.
They are used in life sciences owning to their efficiency. Their ability to identify genomic differences so as to predict drug response can help customize therapies for fatal diseases such as cancer. Owing to all these factors the global demand for array instruments will continue to rise in the coming years.
Q. What are the strategies adopted by key players in global array instruments market?
The global array instruments market is consolidated with key players thus facing tough competition. As such, players are concentrating on product innovation and differentiation to be able to enjoy sustainable growth. Strategic collaborations with retailers are another tactic adopted by industry players to expand their shares in the market. With collaborations, key companies aim to increase their share in the global market, thus maintain their dominance. Additionally, collaboration with key companies will give the new companies a change to adopt new technologies and the changing trends in the global array instruments market.
Q. What are the recent trends in the global array instruments market?
Technology has benefited many global markets and the global array instruments market is not an exception. Laboratory automation is emerging as a new trend and these industry players are capitalizing on this trend. Companies are increasingly making use of automated and robotic workstations so as to eliminate intense manual labor needed to handle the many small samples.
Q. What does the future holds for the global array instruments market?
It is expected that advancements in technology will enable microarrays to become exceptionally powerful tools which proves to be beneficial for glycomics study. The user of microarrays can also be used in the diagnosis of leukemia. As such their demand will witness a boost in the coming years. The demand for detection of drug response by patients will also increase the opportunity of growth in the market.
Companies such as BioArray Solutions are developing bead-based arrays to diagnose and perform tests. These new inventions are expected to ensure bright future for the global array instruments market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.