The rise in technological advancements in sequencing technology along with the increase in genetic mapping programs are playing a significant role in supporting the growing demand for genetic analyzers. Also, the growing awareness towards the genetic disorders is supporting the growth of the market. Rapid adoption of genetic analyzers is witnessed to provide suitable treatment in case of abnormalities. Moreover, the demand for genetic analyzers is also increasing due to the growing prevalence of chronic diseases and the use of genetic analyzers for the diagnosis of specific diseases. Genetic analyzers are automated systems which help in sequencing DNA for various applications such as genotyping and mutation analyses. The growing demand for genetic analyzers for identification of genes and for the analysis of inherited diseases is creating potential growth opportunities for genetic analyzers market. Also, the advancements in genetic analysis helps in the treatment of cancer and in creating better solutions in the field of diagnostics and drug discovery. Therefore, due to the continuous innovation in the genetic analysis the demand for genetic analyzers is growing significantly.
Genetic Analyzers Market: Drivers and Challenges
Drivers: Significant investments in research and development are the key factors driving the growth of genetic analyzers market. Also, the rapid advancements in the field of genetic testing coupled with the growing awareness towards the genetic analysis is also creating potential opportunities for the growth of genetic analyzers market. Furthermore, the increase in clinical genetic sequencing and adult onset disorders are the factors which are propelling the adoption of genetic analyzers. Apart from this, the integration of high-throughput genomics techniques with the advanced computing capabilities is boosting the demand for genetic analyzers. Also, the increasing automation in the laboratories and healthcare organizations is supporting the growth of genetic analyzers market. The rising demand for genetic analyzers in drug discovery field and for DNA separation method has created the high growth opportunities for genetic analyzers market.
Challenges: The high cost of genetic analyzers coupled with the limited research & development budget of small and medium sized organizations is the primary factor which hinders the growth of genetic analyzers market. Moreover, the lack of technical expertise for the operability of advanced genetic analyzers is also one of the major challenges restraining the growth of genetic analyzers market.
Genetic Analyzers Market: Segmentation
Segmentation of Genetic Analyzers Market on the Basis of Product Type: Instruments, Consumables and Reagents; Segmentation of Genetic Analyzers Market on the Basis of Application: Fragment Analysis, Genotyping, Sequence Analysis, Mutation Detection, Sanger Sequencing; Segmentation of Genetic Analyzers Market on the Basis of End Use: Clinical Research Organizations, Research & Development Laboratories, Educational Institutes, Diagnostic Centres, Drug Discovery Centres, Others
Genetic Analyzers Market: Competition Landscape
Key Players: Prominent players in the global genetic analyzers market are Thermo Fisher Scientific, Abbott laboratories, PerkinElmer, Inc., Celera Group, Quest Diagnostics Inc., Hoffmann-La Roche AG, Celera Group, BioRad Laboratories, AutoGenomics Inc., and ELITech Group.
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Genetic Analyzers Market: Regional Overview
On the basis of geography, North America is expected to capture significant market share in terms of revenue in the global genetic analyzers market, driven by the development of large-scale diagnostics and research organizations in the region and the presence of key genetic analyzers providers in the U.S. In recent past, it has been observed that the governments of major economies of Europe and Asia Pacific, such as Germany, France, Russia, India, China, U.K., and Japan are focusing on strengthening their healthcare infrastructure and are continuously investing a large portion of their budget in research and development activities. For instance, China, Japan, and Germany are ranked 2nd, 3rd, and 4th in terms of research and development expenditure. Also, the research & development expenditure of Japan was approximately 3.4% of its GDP in 2017. Furthermore, the genetic analyzers markets in MEA and Latin America are expected witness moderate growth owing to the rising prevalence of chronic diseases and growing investments in the research and development sector of various countries in these regions.