Gene Expression Market Worth $19.4 Billion By 2028 l CAGR: 9.96%
The global Gene Expression Market size is anticipated to reach USD 19.4 billion by 2028 registering a CAGR of 9.96% from 2021 to 2028, according to a new report by Grand View Research, Inc. Rise in investments for the development of alternative drug discovery approaches coupled with an increase in research activities for genetic studies is expected to drive the global market.
A rise in awareness about the potential application of genetic studies has led to an increase in investments for the development and launch of novel products. For instance, in August 2020, Lexogen GmbH launched the QuantSeq-Pool Sample-Barcoded 3’ mRNA-Seq Library Prep Kit to expedite multiplexing capacities during gene expression profiling. The company’s new QuantSeq-Pool kit also facilitates the sequencing of up to 36,864 RNA samples in parallel, thereby reducing cost and time.
Furthermore, the decrease in cost associated with sequencing posed as a major driver in the last few years. According to the National Human Genome Research Institute (NHGRI), the cost of sequencing per genome reduced from USD 46.77 thousand in 2010 to USD 0.689 thousand in 2020. This dramatic 98.5% decline in sequencing costs within a decade has increased research involving genomic expression profiling studies.
Related Press Release@ Gene Expression Market Report
Gene Expression Market Report Highlights
- cDNA synthesis & conversion dominated the process segment in 2020. High demand for personalized medicine coupled with technological advancements in sequencing techniques has enhanced the application of cDNA synthesis to produce genomic libraries
- Moreover, the introduction of systems that provide direct library synthesis has eliminated the need for prior steps, which increases revenue share
- Kits and reagents product generated the largest revenue in 2020 due to their high usage during the process
- In addition, ongoing innovation in the kits and reagents dedicated for specific applications contributes to the highest share of the segment
- High-Plex capacity is expected to register the fastest CAGR during the forecast period owing to the higher accuracy and increased application in cancer research
- RNA exp. was the largest revenue-contributing technique in 2020 owing to higher adoption of RNA exp. analysis
- Moreover, the introduction of high-throughput validation methods, such as targeted RNA sequencing, which are useful in broader screening technologies, has increased the revenue generation in the segment
- The drug discovery & development segment accounted for the largest revenue share in 2020 as Gene Exp. Signature (GES) is commonly used for the development of novel molecules for multifactorial cellular diseases like cancer, diabetes, tuberculosis, malaria, AIDS, and other infectious diseases
- North America was the dominant regional market in 2020. This can be attributed to the high adoption of advanced gene exp. technology in the region
- Major market participants, such as Thermo Fisher Scientific, Inc. and Agilent Technologies, have undertaken strategic initiatives to strengthen their position in the market
- In March 2020, Thermo Fisher Scientific, Inc. launched the PowerTrack SYBR Green PCR Master Mix for real-time PCR workflow. The product is intended to amplify targets for precise analysis