The global lab-on-a-chip and microarrays market was valued at USD 2.73 billion in 2012 and is projected to reach USD 14.49 billion by 2018, at a CAGR of 32.07% during the forecast period from 2014 to 2021.
A biochip is a collection of miniaturized test sites (microarrays) that are arranged on a solid substrate, which permits many tests to be performed at the same time to achieve higher throughput and speed.
Typically, the surface area of a biochip is no larger than a fingernail. Like a computer chip that can perform millions of mathematical operations in one second, a biochip can perform thousands of biological reactions, such as decoding genes, in the span of a few seconds.
Global Lab-on-a-Chip and Microarrays Market-Market Dynamics
The report details several driving and restraining factors for the global lab-on-a-chip and microarrays market. Some of them are listed below.
Increased application in cancer research
Growth in personalized medicine
Increased commercial application of biochips
Availability of alternative technologies
Low commercial acceptability due to higher costs
The global lab-on-a-chip and microarrays market is segmented by products, applications, and geography.
North America has the major chunk of the market share. In North America, the U.S. is the largest shareholder. Following North America is Europe, which has the next major market share. The global lab-on-a-chip and microarrays market has recently gained traction in emerging nations and has turned these nations into major investment opportunities, thereby increasing the growth of this market as well.
In the Asia-Pacific region, China and South Korea have been identified as the potential emerging markets due to high R&D investments in the medical fields in these countries.
Some of the key players in the market are:
Beckman Coulter Inc.
Key Deliverables in the Study
Market analysis for the lab-on-a-chip and microarrays market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the global lab-on-a-chip and microarrays market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.
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