Global genetic analyzers demand is anticipated to be valued at US$ 6.1 Billion in 2022, forecast to grow at a CAGR of 15% to be valued at US$ 24.67 Billion from 2022 to 2032. Gene testing, DNA sequencing, and the numerous advancements in cancer treatments will spur the growth for genomic analyzers in future markets.
| Report Attribute | Details |
| Estimated Base Year Value (2021) | US$ 5.5 Billion |
| Expected Market Value (2022) | US$ 6.1 Billion |
| Anticipated Forecast Value (2032) | US$ 24.67 Billion |
| Projected Growth Rate (2022-2032) | 15% CAGR |
A significant increase in the number of genetic mapping programs along with technological advancements in sequencing technology are supporting the increasing demand in genetic analyzers. In addition to the growing awareness about genetic disorders, there is also a tendency toward the growth of the genetic disorders market. As a result of rapid adoption of genetic analyzers, medical professionals can now treat abnormalities in a predictable manner.
United States is considered to be a highly lucrative market for genetic analyzers. Several factors are expected to contribute to the growth of gene analyzer applications in these regions, including the diagnosis and screening of rare and fatal disorders in newborns, as well as the estimation of the probability of disease occurrence.
As the market for genetic analyzers continues to grow, there are opportunities for growth owing to rising demands for genetic analyzers to identify genes and to analyze inherited diseases. Genetic analysis can also be applied to the treatment of cancer and to the development of improved diagnostic techniques and new medicines. A significant growth in the use of genetic analyzers is therefore being driven by continuous innovation in genetic analysis.
Parallel to these developments, the genetic mapping program is contributing considerably to the growth of the market for genetic analyzer systems. Players operating in the genetic analyzers market can take advantage of factors such as improving healthcare quality through collaboration, a growing biotech sector in the domestic market, and public and private funding for research in emerging markets to drive their growth. As a result, manufacturers are seeking to develop more authentic clinical data machines for the market.
The high level of investment in research and development is a major factor driving the growth of the genetic analyzer market. Furthermore, the rapid advances in the field of genetic testing, as well as increasing awareness in the general public towards genetic testing, have likewise created potential growth perspectives for the genetic analyzer market. In addition, the proliferation of clinical genetic testing and adult-onset diseases has propelled the adoption of genetic analysis tools
As a result of these developments, the integration of high-throughput genomic methods with the advancement of computing capabilities is a major factor that is driving the demand for genetic analyzers. The growing importance of automation as a tool for the laboratory and the healthcare industries is also encouraging the growth of the genetic analysis market. Growing demand for genetic analyzers in the pharmaceutical and biotech sectors, together with the increasing demand for DNA separation methods, has created great growth opportunities in the genetic analyzer market.
As a result of increasing government investment initiatives towards the development of advanced health care facilities and the installation of technological advanced automated genetic analyzer systems, the market for genetic analyzers is poised to grow in the upcoming decade. Over the forecast period, the global genetic analyzer market will grow at a healthy rate driven by a growing demand for personalized medicine and a growing emphasis on early diagnosis. The increasing prevalence of hereditary diseases, which is perhaps another factor expected to boost the market growth for genetic analyzers.
The high costs of genetic analyzers & the limited budgets for research & development in smaller and medium-sized companies are the leading restraining factors for the growth of the genetic analyzer market. In addition, the lack of sufficient resources and skilled personnel for operating advanced genetic analyzers has also been identified as a major factor restricting the growth of the genetic analyzer market.
As medical technology continues to advance, genetic analyzer systems will face challenges caused by the lack of capabilities to create and analyze genetic data in the near future. Over the forecast period, growing concerns about genetic testing standardized practices and stringent product approval regulations are expected to hamper the growth of the genetic analyzer market. Thus, this is expected to remain a significant barrier to market growth in the future.
The North American genetic analyzers market is anticipated to capture a significant share of the global market owing to the establishment of large-scale diagnostics companies and the presence of major providers based in the United States. As a result of the high adoption of genetic analyzer systems and the growing awareness of the disorder, the U.S. is expected to hold the largest market share in the global genetic analyzer systems market.
As the incidence of genetic disorders among children in the United States continues to increase, and as these disorders are burdensome to children and their families, the market for genetic analyzers is growing rapidly. The increased number of cancer cases and chronic diseases among the elderly population in the U.S. has significantly impacted the demand for these devices on the market.
The popularity of genetic testing as a way to identify and cure diseases or abnormalities is also increasing, which is the major driving force for the high growth of the genetic analyzers market. As a result of increasing FDA approvals and subsequent product launches, as well as the presence of a considerable number of players with a focus on research activities in order to create new genetic screening tools, the market expects to grow in North America.
According to Future Market Insights, Asia Pacific is expected to be a major market for genetic analyzers, with India and China having large populations, which are likely to account for the vast majority of regional growth in the genetic analyzer market. Furthermore, the growing occurrence of genetic disorders and improving government funding towards the development of advanced medical facilities in these regions is giving entrepreneurs and market players a huge opportunity to develop and manufacture their products.
A combination of technological advancements in genomic sequencing as well as steadily growing numbers of diagnostic centers and hospitals resulting in the demand for genetic analyzers on the market. For instance, China recently granted a patent on genetic analyses. Microbiome DX Genetic Analysis AS announced the issuance of a patent entitled “a METHOD FOR DETERMINING GASTROINTESTINAL TRACT DYSBIOSIS”.
The GA-map technology integrates the company's unique algorithms for profiling gut microbiota. As the company plans to enter the rapidly growing Chinese market using proceeds from its recent successful IPO, the approval contributes further strength to the intellectual property portfolio, which already includes the US and European patents.
Some of the key participants present in the global genetic analyzers market include 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, among others.
| Report Attribute | Details |
| Growth Rate | CAGR of 15% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015-2020 |
| Forecast Period | 2022-2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
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FMI projects the global genetic analyzers market to expand at a 15% value CAGR by 2032.
North America is expected to be the most opportunistic market for genetic analyzers in the market.
Thermo Fisher Scientific, Abbott Laboratories, PerkinElmer, Inc., and Celera Group are some prominent genetic analyzers manufacturers in the market.
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Genetic Analyzers Market
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