Market Research Report
Global Biochips Market Forecast 2019-2027
|Published by||Inkwood Research||Product code||603658|
|Published||Content info||127 Pages
Delivery time: 1-2 business days
|Global Biochips Market Forecast 2019-2027|
|Published: March 9, 2019||Content info: 127 Pages||
The global biochips market is expected to grow considerably over the forecast years of 2019-2027. Factors like growing investments for R&D, government funding and increasing demand for personalized medicines is expected to lead to a 20.63% CAGR for this market by the end of 2027. Extensive diagnostic application and the major integration of biochips for analytical studies of effectors triggering changes in the environment are influential for the uptake of biochips in the current market.
The global biochip market is very dynamic with respect to the presence of many international players. Most of these companies are engaged for the determination of new varieties of biochip research and development. They are trying to compete with each other by providing the same characteristics at similar prices or by similar features at competitive prices. The progress in the technology and innovations of the biochips, biotechnology, and biosensors have resulted in several new applications of biomedical devices, thereby, providing several opportunities for the biochips market to expand.
Segmentation of the global biochip market is done according to the substrates, types, and end users.
The geographical segmentation of the global biochips market is carried out over North America, Asia-Pacific, Europe and the Rest of World. The Asia Pacific biochips market is expected to rise with the highest CAGR over the forecast period of 2019-2027, driven by the emerging economies of countries like Japan, India, and China. The increasing investment in the biochips R&D, supportive incentives from the governments and the solidifying presence of CROs in the region are propagating the market expansion.
Conversely, North America leads the market by capturing the largest market share of xx% in the year 2018. Large-scale research projects in biosciences coupled with the advancements in the pharmaceutical & biotechnology sector of North America are presenting lucrative opportunities to the regional market for further developments.
Collaboration, partnerships, acquisition, & product launch are some of the key strategies followed by several enterprises within the global biochips market. Eminent companies like the IMGENEX, Thermo Fisher Scientific Inc., Illumina Inc., Samsung Electronics Inc., Cepheid Inc., Fluidigm Corporation, Biochain Institute Inc., Agilent Technology Inc., Gamida for Life Group, Bio-Rad Laboratories Inc., Merck GmbH, OriGene Technologies Inc., Cybrdi Inc., PerkinElmer Inc. and bioMerieux SA are competitively operating in the global biochips market.