ID: MRFR/HC/5598-HCR | 90 Pages | Author: Rahul Gotadki | June 2023
Biochips market is expected to reach USD 34.53 Billion at CAGR of 18.60% during the 2022 - 2030
Biochips market was held a of USD 7,300 million in 2017 and is projected to grow at a CAGR of 18.60% over the forecast period The biochips function in a biological environment, especially inside the living organism. The biochips can perform many biological reaction operations within a few seconds. The National Cancer Institute's 2018 report shows that nearly 1,735,350 cases of cancer in the US were diagnosed, and it has been predicted that nearly 609,640 people may die due to cancer. This results in increasing awareness among the people, increasing the demand for the Biochips Market.
The global Biochips market growth is driving because of the growing technological advancements in biochips. Also, rising applications in cancer genomics are fuelling the market growth as personalized medicine is widely adopted across the world. The global Biochips market growth is boosted due to the rising applications of biochips in the forecast period. However, the global market might experience restraints due to the stringent regulatory guidelines and the high cost of the instruments.
The global biochips market has been segmented into type, technology, and end user.
By type, the market has been segmented into DNA chips, lab-on-a-chip, protein chips, cell arrays, and tissue arrays. DNA chips is further segmented into gene expression, SNP genotyping, cancer diagnosis & treatment, genomics, drug discovery, agricultural biotechnology, and others. Lab-on-a-chip is further segmented into clinical diagnostics, genomics, IVD (In-Vitro Diagnostic) & POC (Point of care), Proteomics, Drug Discovery, and others. Protein chips is further segmented into proteomics, expression profiling, diagnostics, high-throughput screening, drug discovery, others.
Based on technology, the market has been segmented into microarrays and microfluidics.
The biochips market, by end user, has been segmented into biotechnology and pharmaceutical companies, hospitals and diagnostics centers, academic & research institutes, and others.
The biochips global market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market for biochips in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.
The European biochips market has been segmented into Western Europe and Eastern Europe. The Western Europe biochips market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The biochips market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market for biochips in the Middle East & Africa has been segmented into the Middle East and Africa.
Perkinelmer, Inc., Fluidigm Corporation, Agilent Technologies, Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., Cepheid Inc., Illumina, Inc., GE Healthcare, Thermo Fisher Scientific, Inc, Roche Diagnostics are some of the prominent players in the global biochips market.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the biochips global market owing to the high domestic income, and presence of major market players. Moreover, increasing patient population in US. According to American Cancer Society, the overall estimate of 1,735,350 cases for 2018 equals more than 4,700 new cancer diagnoses each day.
Europe is expected to hold the second largest position in the global biochips market. The market growth in this region is attributed to the presence of strong academic & research base and availability of funding for research in the European countries. For instance, the European Research Council (ERC) provides grants for technological and scientific research conducted within the European Union (EU).
The biochips market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to increasing government focus on biomedical and biotechnology sector and growing number of target population in the region.
The Middle East & Africa has the lowest share of the global biochips market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
Global Biochips Market, by Type:
Cancer Diagnosis & Treatment
IVD & POC
Global Biochips Market, by Technology:
Global Biochips Market, by End User
Biotechnology and Pharmaceutical Companies
Hospitals and Diagnostics Centers
Academic & Research Institutes
Global Biochips Market, by Region
Rest of Western Europe
Rest of Asia-Pacific
The Middle East & Africa
Global Biochips Market, by Key Players:
Agilent Technologies, Inc.
Bio-Rad Laboratories Inc.
Thermo Fisher Scientific, Inc.
The Year 2015
In 2015, an innovative developer of assays for dementia and risk assessment prediction, Cytox (UK) and Affymetrix (US), announced their strategic partnership. This partnership has aimed to commercialize and develop a blood-based genetic assay for the risk assessment of Alzheimer's disease. The company has received a huge help with this partnership that extends the dementia research market.
The Year 2016
In 2016, the prominent market player Thermo Fisher Scientific Inc. acquired a leading provider of genetic and cellular analysis products named Affymetrix Inc. The company Thermo Fisher has received more benefits with this acquisition that has strengthened its leadership in biosciences. Moreover, the company has also acquired new genetic analysis capabilities to enhance the applied markets and better serve clinical.Intended Audience:
Biochips Manufacturers and Distributors
Contract Research Organizations
Academic and Research Institutes
|Market Size||USD 7.3 billion|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, technology, and end user|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Perkinelmer, Inc., Fluidigm Corporation, Agilent Technologies, Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., Cepheid Inc., Illumina, Inc., GE Healthcare, Thermo Fisher Scientific, Inc, Roche Diagnostics|
|Key Market Opportunities||High domestic income, and presence of major market|
|Key Market Drivers||
The biochips market has been projected to achieve with 18.60% CAGR during the forecast period of 2022-2003.
The prime factor to drive the biochips market ahead is technological development.
The high cost of instruments and strict regulations can prevent the biochips market from growing.
The biochips market report has technologies like microarrays and microfluidics for discussion.
The biochips market has end users like hospitals & diagnostics centers, academic & research institutes, biotechnology & pharmaceutical companies, and others.
Key Questions Answered
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