Some of the key players profiled in the report are Illumina, Inc., Asterand Bioscience, Pantomics Inc., Applied Microarrays, Arrayit, Phalanx Biotech, Qiagen, Protein Biotechnologies Inc., Takara Bio, Perkin Elmer, Agilent Technologies, Merck Sharp & Dohme Corp, and General Electric.
Market Research Future (MRFR)’s latest study reveals that the global tissue microarray market is set to expand saliently striking a CAGR of 10.88% during the forecast period 2017 to 2023.
Tissue microarray offers cost-benefit and time efficiency compared to the traditional slide-by-slide tissue analysis. It is likely to accelerate its adoption in the healthcare sector over the next couple of years.
Tissue microarray market benefits from the treatment’s potential to study a wide range of tumors at different phases of disease progression. Tissue microarray has developed an application in diagnosis of cancer through basic research, prognostic oncology, and drug discovery. The rising burden of cancer is one of the major factors favoring the expansion of the tissue microarray market.
The tissue microarray technology is also been used in the diagnosis of various diseases, which eventually aid in determining better treatment strategies. Moreover, TMA also finds extensive applications in the healthcare sector. Also, various properties of TMA such as portability, rapid assay times, and fewer sample requirements have widened its adoption despite it being an expensive technology.
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The advent of tissue microarray technologies for genomics and proteomics, histopathology research received a similar much-needed boost by the introduction of tissue microarray technology (TMA). On the other hand, factors such as the challenges related to the heterogeneity of antigen expression of TMA in histopathological research are impeding the growth of the market.
Nevertheless, with the falling costs of technology, and increased competition between developers, TMA is expected to become an affordable, justifiable and commonly used tool for archiving rare or scarce material and for inter-laboratory quality assurance procedures in routine histopathology laboratories which will support the market growth, leading to more research work being carried out in smaller centers
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 has been segmented into pharmaceutical and biotechnological companies, research organization, and others.
By region, the global tissue microarray market has been segmented into Asia Pacific, Americas, Europe, and the Middle East & Africa. Americas is poised to retain a dominant share of the market towards the end of the forecast period. The growth of the region is attributable to the presence of key players, rising healthcare expenditures, adoption of latest technologies in the healthcare sector, and rising burden of cancer among others.
Europe is estimated to control the second largest share of the market. The developed healthcare of the region coupled with government support for research & development has augmented the tissue microarray market in the region. The trend is likely to perpetuate in the foreseeable future.
Asia Pacific is expected to grow at a relatively higher CAGR during the projection period. The favorable factors of growth of the regional tissue microarray market include the presence of fast-developing economies such as India & China, increasing healthcare expenditure, developing healthcare sector, government’s initiatives to boost medical tourism, etc.
The Middle East & Africa is expected to exhibit sluggish growth. Although the African regions remain laggards, the developments in the healthcare sector of the Middle Eastern countries are set to earn some profits in the forthcoming years.
In April 2018, Cancer Genetics, a biotech company, announced the receipt of special 510(k) clearance from Food & Drug Administration (FDA), the U.S., for Tissue of Origin (TOO) gene expression test. The microarray-based test identifies a tumor’s tissue of origin by assessing 2,000 individual genes.
In June 2018, Philips, a Dutch multinational company, launched Xplore a web-based image and data management platform. It allows labs to store tissue microarray studies and promotes knowledge sharing among researchers.
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