The North American gene expression analysis market size is predicted to be worth USD 3.03 bn by 2028 from USD 2.001 bn in 2023, growing at a CAGR of 8.5% from 2023 to 2028.
The growing cancer patient population in the North American region is one of the key factors propelling the gene expression analysis market in this region. Cancer is a genetic disorder resulting from changes in the genes, causing alterations in genetic expression. The analysis of gene expression plays a vital role in the diagnosis and development of treatment plans for cancer patients. The growing demand for personalized treatment plans and personalized medicine for cancer patients further contributes to the growth of the North American gene expression analysis market. The governments of North American countries have initiated several awareness campaigns to promote awareness among the population regarding the benefits of using personalized drugs for cancer patients, enabling preventive measures to avoid critical situations and cure diseases.
The increasing number of applications of genomics and the rising number of genomic databases fuel the growth rate of the North American market. These databases collect data from cancer patients and enable comparison with RNA sequencing samples from other databases. Through analysis of the gene expression pattern, these databases help determine the genes involved in the patient's condition. In addition, the growing R&D activities in the pharmaceutical industry are another major attribute driving the North American gene expression analysis market growth. Pharmaceutical companies and researchers have been increasingly focussing on the development of effective drugs for chronic diseases, which is propelling the demand for gene expression analysis and driving regional market growth.
Furthermore, factors such as the continual advancements in genomics technology, increasing adoption of personalized medicine in North America, expanding research in the field of genomics, an increasing number of initiatives to promote genomics research by the North American governments, growing demand for biomarker discovery and rising trend of collaborations and partnerships among market players in North America contribute to the growth of the North American gene expression analysis market.
However, factors such as the high cost of gene expression analysis instruments and reagents, regulatory challenges and the lengthy approval processes associated with gene expression analysis products hamper the growth of the North American market. The shortage of skilled professionals in the field of gene expression analysis, the complexity of analyzing gene expression data and the competition of alternative technologies such as next-generation sequencing (NGS) and proteomics further impede the regional market growth. Limited funding for gene expression analysis and ethical concerns associated with gene expression analysis are anticipated to have a negative impact on the North American market growth.
This research report on the North American gene expression analysis market has been segmented and sub-segmented into the following categories.
Geographically, North America accounted for the largest share of the worldwide market in 2022 and the regional domination is anticipated to continue throughout the forecast period owing to factors such as the presence of key market participants and increasing efforts on R&D.
The U.S gene expression analysis market had the major share of the North American market in 2022 and this pattern is expected to continue during the forecast period. The growth of the U.S. market is majorly driven by the growing number of R&D activities, increasing investments by the key market participants and the growing Parkinson’s patient population. Parkinson's disease is a neurodegenerative disorder and gene expression is used for the treatment of neurodegeneration disorders. Nearly 90,000 people are diagnosed with Parkinson’s disease in the United States every year.
On the other hand, the Canadian gene expression analysis market is anticipated to witness a promising share of the North American market during the forecast period owing to the rising emphasis on the development of new and improved gene expression analysis procedures for various diseases, increasing number of research centers and the growing number of clinical trials.
KEY MARKET PARTICIPANTS:
Companies playing a leading role in the North American gene expression analysis market profiled in the report are Thermo Fisher Scientific, Inc., Agilent Technologies, Life Technologies, GE Healthcare, Illumina, QIAGEN N.V., Roche, Oxford Gene Technology, PerkinElmer, Affymetrix, Inc., Bio-Rad Laboratories, and Luminex Corporation.
The North American gene expression analysis market is predicted to be valued at USD 1.86 billion in 2023.
The key drivers of the North American gene expression analysis market include the increasing focus on personalized medicine, the growing demand for gene therapy, and the rising prevalence of chronic diseases such as cancer and genetic disorders.
The major players in the North American gene expression analysis market include Thermo Fisher Scientific, Illumina, Agilent Technologies, QIAGEN, Bio-Rad Laboratories, and GE Healthcare.
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