Global Biochips Market Trends, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global biochips market in its upcoming report titled, “Global Biochips Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global biochips market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global biochips market report has been segmented on the basis of product type, technology, end user, and region.

Biochip is a small device that can perform simultaneous biochemical reactions. The biochip is a microarray that is arranged on a solid substrate which capable of performing multi biochemical tasks thus allowing higher throughput of speed and volume. Biochip has various application in fields of diagnosis of respiratory diseases, infectious diseases, and cancer.

Biochips is widely used in various genetic application as it saves time and cost, furthermore it is also used in toxicological protein, and biochemical research which in turn is expected to boost the growth of global biochips market over the forecast period. Increasing adoption of biochips technology in various research application which includes cancer therapies is expected to boost the growth of the global biochips market over the forecast period. Increasing adoption of personalized medicine is another factor expected to drive the growth of the market over the forecast period.

However, high instrumentation cost and manufacturing complexity of the biochip technology is a major factor expected to restraint the growth of the global biochips market over the forecast period.

Technological advancements and innovations focusing on improvement of the technology by providing accuracy and reducing the cost of the product is expected to create new opportunities for major players in the global biochips market over the forecast period.

North America market dominates the global biochips market in terms of revenue contribution as compared to that of markets in other regions. This is attributed to presence of well-developed healthcare infrastructure, presence of government initiatives, and significant number of ongoing research activities in the region. Europe accounts for second-largest revenue share contribution to the global biochips market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the next 10 years, owing to the developing healthcare infrastructure, increasing adoption for biochips over conventional bulky instruments, and increasing number of cases of cancer, asthma, and cardiac disorders in the region.

Global Biochips Market Segementation:

Global biochips market segmentation, by product type:

• DNA Chips
• Protein Chips
• Lab-on-a-Chip
• Others (Cell Arrays & Tissue Arrays)

Global biochips market segmentation, by technology:

• Microfluidics
• Microarray

Global biochips market segmentation, by end user:

• Biotechnology and Pharmaceutical Companies
• Hospitals and Diagnostics Centers
• Academic & Research Institutes

Global biochips market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa