According to a new report published by Allied Market Research, titled, Biochips Market, by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2025,” the market was valued at $9,037 million in 2017, and is projected to reach $21,419 million by 2025, registering a CAGR of 11.2% from 2018 to 2025.
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Biochips Market Overview-
The biochip market is projected to witness significant growth soon due to factors such as increasing prevalence of life-threatening disorders, increase in the number of elderly people susceptible to cancer, increasing use of biochips, and high demand. Personal medications. However, high cost of biochip products and lack of knowledge about biochip hinder the market growth.
Biochips Market Segmentation:
On the contrary, increase in R&D investment as well as government funding and high growth potential in developing regions are expected to provide numerous opportunities for market growth.
DNA chip segment accounted for the largest share in 2017 due to higher availability of DNA chips as compared to other products. However, the protein chip segment is expected to grow at a high CAGR from 2018 to 2025.
The drug discovery and development segment led the global biochip market in 2017 and is expected to maintain this trend during the forecast period. On the other hand, the diagnostics segment is expected to register the highest CAGR from 2018 to 2025.
Biochip adoption rates among biotechnology and pharmaceutical companies were high in 2017. However, the educational and research institutions segment is expected to grow at a CAGR of 13.5% during the forecast period.
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𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:
• bioMrieux S.A.
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd.
• Fluidigm Corporation
• Illumina, Inc.
• HORIBA, Ltd.
• PerkinElmer, Inc.
• QIAGEN N.V.
• Randox Laboratories Ltd.
• Thermo Fisher Scientific Inc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.