Market Insights:

Tissue microarray technique has replaced the traditional slide-by-slide tissue analysis which was not only expensive but also time-consuming and is driving the Tissue Microarray Market growth. Market Research Future (MRFR) has revealed in its latest report that the global tissue microarray market will proliferate saliently at a robust CAGR of 10.88% during the forecast period 2017 to 2023.

The widening base of tissue microarray in drug discovery is the primary driver of tissue microarray market growth. The advancements introduced in tissue microarray techniques have simplified the process of discovering potential molecular targets for gene-specific therapy which has fueled its adoption in the healthcare sector. Furthermore, the need for analyzing large numbers of well-characterized human tissues constitutes a major role in the drug discovery and development and is very likely to encourage revenue creation from tissue microarray market.

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The tissue microarray is also an efficient and practical tool used for high-throughput molecular analysis of tissues that helps in identifying new diagnostic and prognostic markers. It has potential applications in basic research, prognostic oncology, and drug discovery which are likely to catapult market proliferation during the assessment period. The application of microarray in tumor diagnosis will further propel the market expansion. Another factor responsible for the growth of tissue microarray market is the need for targeted treatments for various chronic diseases such as cancer, genetic diseases, etc.

However, tissue microarray is inefficient for heterogeneous cancer which is poised to hold the growth of the market over the projection period.

Competitive Dashboard:

The key players profiled by MRFR in its report for delivering an actionable market insight include Agilent Technologies, Illumina, Inc., Asterand Bioscience, Pantomics Inc., Protein Biotechnologies Inc., Applied Microarrays, Arrayit, Phalanx Biotech, Qiagen, Takara Bio, Perkin Elmer, Merck Sharp & Dohme Corp, and general electric among others. The strategies devised by the players to increase their control over the market include clinical trials, acquisitions & mergers, strategic alliances, etc.

Market Segmentation:

By procedure, the global tissue microarray market is segmented into immunohistochemistry, fluorescent in-situ hybridization, and frozen tissue array.

By technology, the tissue microarray market has been segmented into DNA microarray, polymerase chain reaction, next-generation sequencing, northern blotting, and western blotting.

By application, the global tissue microarray market is segmented into oncology, gene expression profiling, SNP detection, double-stranded B-DNA microarrays, and comparative genomic hybridization, and sequencing bioinformatics.

By end-user, the tissue microarray market is segmented into pharmaceutical and biotechnological companies, research organization, and others.

Regional Analysis:

By region, the global tissue microarray market has been segmented into Americas, Europe, the Middle & East, and Asia Pacific. Americas market accounts for the highest share of revenue, and it is likely to continue exercising its dominance over the assessment period. The growth of the region is attributable to the technological advancements in the healthcare sector, increased research & development activities, the rising burden of cancer, etc. Furthermore, the consolidation of key players in the region is aiding market proliferation.

Europe accounts for the second largest market share globally. The factors complementing the market expansion are rising incidences of cancer, developed healthcare sector, etc. The healthcare expenditure in the region is on the rise which will catapult the market proliferation over the next few years.

Asia Pacific will show a steep rise in the growth of the tissue microarray market owing to the boom witnessed in the healthcare sector. The government initiatives undertaken to boost the medical tourism in Asia Pacific will fuel market growth. Another factor responsible for the growth of the region is increasing patient pool in the region. The presence of emerging economies such as China and India will complement the market expansion.

The Middle East & Africa will hold the least share in the global market due to the limited development of medical facilities and poor economic condition of African regions. However, the developing healthcare sector in Middle East exhibits tremendous potential for revenue acceleration.

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