DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/dcq2rh/global_array) has announced the addition of the "Global Array Instruments Market 2012-2016" report to their offering.
TechNavio's analysts forecast the Global Array Instruments market to grow at a CAGR of 14.29 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increase in technological innovations. The Global Array Instruments market has also been witnessing the trend of increasing market consolidation. However, the intense competition among vendors could pose a challenge to the growth of this market.
The key vendors dominating this market space are Affymetrix, Inc., Agilent Technologies Inc., Illumina Inc., and Roche Diagnostics Corp.
The other vendors mentioned in the report are Bio-Rad Laboratories Inc., Perkin Elmer Inc., Caliper Life Science Inc. and Siemens Healthcare Diagnostics.
Commenting on the report, an analyst from TechNavio's Healthcare team said: ''The Global Array Instruments market is highly fragmented with a large number companies operating in the market. Over the years, the Global Array Instruments market has been witnessing significant consolidation because of the many mergers and acquisitions. This trend is expected to continue during the forecast period as vendors attempt to strengthen or hold their market position. Market consolidation has resulted in stronger competitors that are better able to compete as sole-source vendors to end-users.''
According to the report, one of the key drivers is the increase in technological innovation. The latest technological advancements and sophisticated approaches in various healthcare operations have increased the demand for array instruments. Technological innovations employed in the drug discovery and development process require a variety of array instruments on a large scale.
For more information visit http://www.researchandmarkets.com/research/dcq2rh/global_array