Gene Amplification Technologies Market by Application and Geography - Global Forecast and Analysis 2019-2023
Global Gene Amplification Technologies Market: About this market
Technavio’s gene amplification technologies market analysis considers sales from medical and pharmaceutical, forensic and identity testing, agricultural and food safety, and other applications. Our analysis also considers the sales of gene amplification technologies in Asia, Europe, North America, and ROW. In 2018, the medical and pharmaceutical segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the rising prevalence of genetic and infectious conditions and the growing need for drug discovery will play a significant role in the medical and pharmaceutical segment to maintain its market position. Also, our global gene amplification technologies market report looks at factors such as increasing genomic research, substantial adoption of gene amplification technologies in targeted cancer therapies, and low cost of genetic sequencing. However, varying regulatory guidelines on genetic research and testing, requirement for high expertise to perform gene amplification studies, and increasing number of product recalls may hamper the growth of the gene amplification technologies industry over the forecast period.
Global Gene Amplification Technologies Market: Overview
Adoption of gene amplification kits in targeted cancer therapies is being witnessed due to the increasing demand for alternative treatments to chemotherapy. This is also due to the increase in approvals for targeted gene therapies by regulatory authorities. Thus, the increasing development of such therapies to treat various cancers, such as colorectal, cervical, and breast cancer, is expected to trigger the adoption of gene amplification technologies and lead to the expansion of the global gene amplification technologies market at a CAGR of over 9% during the forecast period.
Rising demand for gene amplification kits and assays in consumer genetics
Genetic testing for the identification of disease risks and paternity is performed by reference laboratories using gene multiplexing techniques that involve the use of gene amplification kits and assays. The rising popularity of relationship testing services, such as ancestry testing and paternity testing, has resulted in the high adoption of consumer genetic services, specifically among the millennial population. The demand for determining the risk of cancers through genetic tests has increased due to the rising mortality rates associated with cancers. This has promoted the use of dedicated gene amplification kits in direct-to-consumer testing for cancer risk analyses. These factors are expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global gene amplification technologies market during the forecast period 2019-2023, click here.
With the presence of several major players, the global gene amplification technologies market is moderately fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading gene amplification technologies manufacturers, that include Abbott Laboratories, Agilent Technologies Inc., bioMérieux SA, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Merck KGaA, PerkinElmer Inc., QIAGEN Group, Siemens Healthineers AG, Thermo Fisher Scientific Inc.
Also, the gene amplification technologies market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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