Global Gene Expression Market Report and Forecast 2024-2032

Global Gene Expression Market Outlook

The global gene expression market size was valued at USD 13.3 billion in 2023, driven by advancements in gene expression analysis across the globe. The market is expected to grow at a CAGR of 10.42% during the forecast period of 2024-2032, with the values likely to rise from USD 14.7 billion in 2024 to USD 32.4 billion by 2032.

Key Takeaways

• Expanding applications of next-generation technology including oncology studies, biomarker discovery, and personalized therapeutics are likely to augment market demand.

• It is estimated that 35 million new cancer cases will arise by 2050.  The rising inclination of patients towards precision oncology will positively influence the market dynamics.

• Cost reductions of DNA sequencing has played a significant role in making gene expression more accessible and affordable. In June 2023, Illumina Inc. announced that technological advancements helped the company lower its cost of human genome sequencing (from USD 150,000 to USD 200).

The gene expression market growth is driven by the rapid advancements in the field of genomics. In pharmaceutical companies, gene expression analysis is increasingly employed for drug discovery and development to accommodate the clinical needs of the growing patient population. On the other hand, biotechnology companies are actively investing in the market to develop novel therapies. Additionally, the rising prevalence of chronic diseases such as cancer and the substantial funding for genomic research is expected to accelerate the market growth in the forecast period.

Global Gene Expression Market Trends and Developments

Growing preference for personalized medicine, rising demand for precision oncology, expansion of RNA sequencing applications, and increasing use of gene expression research in infectious disease research comprise some of the key trends and developments in the market.

Global Gene Expression Market Demand

The market demand is propelled by the application of gene expression technologies across various domains from basic research to diagnostics and drug discovery. Heightened patient awareness and increased accessibility to healthcare services further bolster the market demand. The rising prevalence of genetic disorders has increased the focus on gene expression studies to identify potential therapeutic targets. With the data suggesting that 72% of rare diseases  have a genetic origin, the gene expression market size is projected to expand in the forecast period.

Technological advancements such as the integration of artificial intelligence (AI) and machine learning in gene expression analysis are anticipated to contribute to market growth. Such innovations will simplify complex data and assist in predicting treatment outcomes, facilitating the utilization of gene expression profiles in clinical decision-making.

Global Gene Expression Market Segmentation

“Global Gene Expression Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

By products and services, the market is segmented into consumables, instruments, and services. This market segment caters to different stages of gene expression analysis, research, and experimentation.

In terms of technology, the gene expression market share includes polymerase chain reaction (PCR), next generation sequencing (NGS), DNA microarray, and other emerging techniques. Each technology in the market provides distinct advantages in terms of throughput, sensitivity, and cost-effectiveness.

Gene expression finds its application in disease diagnosis, drug discovery, drug development, and other research and clinical applications. This segment actively works on addressing a wide range of biological questions and medical needs.

End-users of gene expression products and services comprise pharmaceutical and biotechnology companies, academic and research institutes, diagnostic and clinical laboratories, and other organizations involved in life sciences research and healthcare.

Based on region, the market report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The gene expression market shows regional disparities affected by factors such as technological advancements, regulatory environments, and healthcare expenditure.

Global Gene Expression Market: Competitive Landscape

The key market players are contributing to the gene expression market growth through strategic mergers and acquisitions initiatives, novel product launches, and continuous research and development efforts aimed at providing improved patient solutions.

Other key players in the market include Revvity Inc., Agilent Technologies Inc., Oxford Nanopore Technologies Inc., PacBio, QIAGEN, Bio-Rad Laboratories Inc., Danaher Life Sciences, and Takara Bio Inc.

Global Gene Expression Market Analysis by Region

In North America, the market is witnessing significant growth which can be attributed to robust research and development efforts aimed at expanding the genomics field. Major funding from the public and private sectors also supports the ongoing gene expression studies. In addition, the presence of a well-established healthcare system and growing demand for targeted therapies is expected to boost the gene expression market size in the forecast period.

Asia Pacific is projected to experience rapid growth in the coming years supported by the rising disposable income and improvement of healthcare facilities. Moreover, the regional market offers lucrative growth opportunities for the key market players due to various factors such as the huge population base, rising prevalence of chronic diseases, and increased expenditure on healthcare services and products.

Key Highlights of the Report