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 the 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 North America market dominated the Global DNA Chip Market by Region in 2018, growing at a CAGR of 10.2% during the forecast period. The Europe market is expected to witness a CAGR of 10.5% during (2019 – 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 12.4% during (2019 – 2025).
The Drug Discovery and Development market dominated the Global Biochips Market by Application in 2018, growing at a CAGR of 10.9 % during the forecast period. The Disease Diagnostics market is expected to witness a CAGR of 10.8% during (2019 – 2025).
The Biotechnology and Pharmaceutical Sector market dominated the Global Biochips Market by End User in 2018, growing at a CAGR of 10.9 % during the forecast period. The Hospitals and Diagnostics Centers market is expected to witness a CAGR of 10.8% during (2019 – 2025). The Academic and Research Institutes market is expected to witness a CAGR of 12.6% during (2019 – 2025).
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The market research report covers the analysis of key stakeholders 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.
Scope of the Biochips Market Analysis
- DNA Chip
- Protein Chip
- Lab-on-Chip and
- Other Products
- Drug Discovery and Development
- Disease Diagnostics
- Agriculture and
- Other Applications
By End User
- Biotechnology and Pharmaceutical Sector
- Hospitals and Diagnostics Centers
- Academic and Research Institutes and
- Other End Users
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- 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.
- The global biochips market study was conducted with a perfect blend of primary and secondary research methodologies. An in-depth understanding of the market was gained through rigorous secondary research. The gained insights were then validated with the telephonic interviews held with the key opinion leaders (KoL) such as top-level executives and Association members.
- The historical market sizes were estimated based on the published data such as company annual reports, news, articles, press releases, and other authentic sources available on the secondary domain. The gathered information was verified with the help of detailed primary interviews.
- The market size forecasts were established with an in-depth analysis of the market trends, key influencing factors, historical market growth, and strategic moves of the leading market participants. The estimates were scrutinized further during the primary interview sessions to derive the best representation for the Water Soluble Polymer Market worldwide.
- The observed key influencing factors were analyzed to estimate their respective impact on the market size forecasts.
Mr. Alan D’Souza
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