According to the report Global Biochips Market, published by Market Data Forecast, the global market is projected to reach USD 19.17 billion by 2021, at a CAGR of 21.80% from 2016 to 2021.
A biochip is a assembly of miniaturized test sites that are organized on a compact substrate, which allows many tests to be executed at the same time to reach higher throughput and speed. Usually, the surface area of a biochip is no bigger than a fingernail. Like a computer chip that can accomplish millions of mathematical tasks in one second, a biochip can implement thousands of biological responses, such as decoding genes, in the duration of a few seconds
A biochip is a collection of microarrays organized on a solid substrate that can perform thousands of simultaneous complex biochemical reactions, including decoding genes, in very less time. Lab-on-a-chip, DNA chips, and protein chips are the different types of biochips available in the market. These are used for diverse applications including research in biotechnology, proteomics and genomics, molecular diagnostics, and drug screening and development.
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Global Biochips Market: Drivers & Restraints
The growth of the Global Biochips Market is mainly driven by factors such as an increased application in cancer study, surge in the utilization of personalized medicine, and increased commercial uses of biochips. The rise in demand for accurate diagnostic technology is driving the market for biochips globally. However, factors such as an availability of substitute technologies, low commercial suitability due to higher costs, and standardization concerns are restraining the growth of the market.
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Global Biochips Market: Segmentation
- DNA Chips
- Protein Chips
- Other types
- Y-o-Y Growth Analysis, By Type
- Market Attractiveness Analysis, By Type
- Market Share Analysis, By Type
By End User
- Hospitals and Diagnostics Centers
- Biotechnology and Pharmaceutical Companies
- Academic & Research Institutes
- Y-o-Y Growth Analysis, By End User
- Market Attractiveness Analysis, By End User
- Market Share Analysis, By End User
By Fabrication Technology
- Y-o-Y Growth Analysis, By Fabrication Technology
- Market Attractiveness Analysis, By Fabrication Technology
- Market Share Analysis, By Fabrication Technology
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Global Biochips Market: Overview
On the basis of type, DNA Chips are the largest segment, followed by lab-on-chips and protein biochips market, due to development in the proteomics and genomics field. However, enhancement in the field of recombinant proteins would assist the growth of protein biochips market. On the basis of End User, the global Biochips market is segmented into Hospitals and Diagnostics Centers, Biotechnology and Pharmaceutical Companies, Academic & Research Institutes. The Hospitals and Diagnostics Center segment dominates the market, as it is primarily driven by various factors such as increasing government funding and technological advancements.
Global Biochips Market: Region-wise Outlook
The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is leading the global Biochips market due to technological advancements and a large pool of ageing populace. However, Asia-Pacific is developing as one of the fastest growing market due to easy access to latest technologies, and promising government schemes.
Key Questions Answered
- What is the current and future Global Biochips Market outlook in global? What trends are affecting the global market?
- What is the competitive landscape and market share of major players in the Global Biochips space globally?
- Which geographical region will lead the global Biochips market by the end of the forecast period?
- What are the key, high growth markets that Global Biochips manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Global Biochips currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Global Biochips?
- What are the challenges and barriers that have hindered widespread adoption of Global Biochips?
Global Biochips Market: Key Players
The recent developments in the global biochips market include the outsourcing of biochips technology, which would aid in decreasing labor cost and capital prerequisites. The major companies dominating the global Biochips market are Agilent Technologies Inc., Fluidigm Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., GE Healthcare, Cepheid Inc., Illumina Inc., and Thermo Fisher Scientific Inc.
Reasons to buy Global Biochips Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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