Market Research Report
Global Biochips Market (2019-2025)
|Published by||KBV Research||Product code||911048|
|Published||Content info||223 Pages
Delivery time: 1-2 business days
|Global Biochips Market (2019-2025)|
|Published: August 31, 2019||Content info: 223 Pages||
The Global Biochips Market size is expected to reach $20.3 billion by 2025, rising at a market growth of 11.2% CAGR during the forecast period.
Biochips are miniaturized medical devices used within molecular laboratories to conduct simultaneous biochemical reactions. These devices can rapidly screen multiple biological analytes for several applications like disease diagnosis and identification of hazardous biological agents existing in systems. Their design is based on microarray and microfluidic technologies. Among the two, digital microfluidic biochip has surfaced as a highly efficient chip and has gained huge traction in the biochemical industry.
The growth of the global biochip industry is largely driven by an increase in cancer occurrence, autoimmune diseases, and viral infections. The expansion of the geriatric population, the rise of biochip uses, and high acceptance of personalized drugs are also factors that boost the market growth. Nevertheless, the market growth is hampered largely by factors such as high biochip costs and absence of awareness. In contrast, increased R&D and public funding are anticipated to offer lucrative business growth possibilities in untapped markets in developing economies.
Based on Product, the market is segmented into DNA Chip, Protein Chip, Lab-on-Chip and Other Products. Based on Application, the market is segmented into Drug Discovery and Development, Disease Diagnostics, Genomics, Proteomics, Agriculture and Other Applications. Due to the significant capital required to develop a wider range of biochip products, the segment of biotechnology and pharmaceutical companies has contributed largest revenue share to the total market. Moreover, due to the growth of mobile and user-friendly biochips which can be used for educational purposes, the academic & research institutes industry is expected to grow exponentially from 2019 to 2025. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fluidigm Corporation, Horiba Ltd., PerkinElmer, Inc., OriGene Technologies, Inc., Dynamic Biosensors GmbH, Illumina, Inc., Qiagen N.V., Bio-Rad Laboratories, Inc., Randox Laboratories Limited, Thermo Fisher Scientific, Inc.