Tuesday, June 2, 2020

Biochip Market Analysis, Overview, Growth, Demand and Forecast 2024


Global Biochips Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Biochips market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the Biochips market. Biochips Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Biochips Market forecast.

Industry Insights
Global biochips market size was valued at USD 7.63 billion in 2015. With potential applications of genomics and proteomics in biotech R&D, along with rapid technological innovation and increase in adoption of personalized medicines, it is expected that this market will witness considerable growth in revnue over the forecast period.

For biochip technology, in order to enhance its usability, there is an improvement in resolution, preparation procedures and accuracy along with the reduction in the cost of the materials associated with manufacturing the biochips. These factors are expected to further reinforce growth potential. Anticipated commercialization and launch of novel treatments and diagnosis products including non-laboratory and laboratory research is expected to fuel growth over the forecast period.

Current developments aiming to miniaturize biochips even further can be anticipated to increase the additional usage and applicability for genetic sequencing methodologies, such as diabetes genomics. With the rise in usage of the biochip technology, it is anticipated that cost of genome profiling can reduce even further for studies such as protein expression analysis among others. Hence, proteomics and genomics labeling techniques along with other protein profiling techniques are expected to witness a growth in demand.


Key Questions Answered
·         What are the sales or revenue produced by Biochips products beyond all sectors during the forecast period?
·         What are the key trends in the Biochips market?
·         What are the leading drivers, limitations, and probabilities in the industry?
·         Which segment will gain the highest revenue worldwide and which product segment will expand at the fastest CAGR during the forecast period?
·         In which region the Biochips market to project lucrative CAGR during the forecast period?

End-use Insights
Lab-on-a-chip, cell and tissue array, protein chips and DNA chips find applications in biotechnology & pharmaceutical companies, research & academic institutes, hospitals & diagnostics and point of care settings which involves end users. Protein biochips and LOACs have found widespread use for single nucleotide polymorphism genotyping, gene expression, in vitro diagnosis, expression profiling, drug discovery, high throughput screening and tissue arrays. The commercialization of the products in the development pipelines of key market participants is also key towards the potential to drive the growth for the market.

Sophisticated robotic tools are needed for scanning and handling samples which are in micro-scale. Furthermore, for efficient data analysis efficient bioinformatics system is required. Therefore, this will increase the need for specific techniques and system which is expected to increase the demand for biochips used in sophisticated machines. This will consequently increase the price of the biochips and widen the offered product range in the market.

Regional Insights
North-America accounted for the largest revenue share owing to the presence of government policies motivating personalized care for the patients and availability of proteomics and genetic profiling infrastructure across the country, especially in the U.S. There has also been a rise in the usage of NGS (Next Generation Sequencing) for molecular treatment and clinical diagnosis coupled with microfluidic techniques that add to the large market share.

The Asia Pacific region is expected to grow at the fastest rate during the forecasted period. Reasons contributing towards the fastest growth in the market are – increase spending by the government in order to improve healthcare and R&D infrastructure in the areas of proteomics, genomics and NGS (next generation sequencing). There has also been growing awareness in the growth market for early and effective diagnosis which will further increase the growth in the market.

Competitive Insights
Key players in the development & commercialization of biochips include PerkinElmer, Inc.; Abbott Laboratories; Bio-Rad Laboratories, Inc.; Fluidigm Corporation; Sigma-Aldrich Corporation; Agilent Technologies, Inc.; Thermo Fisher Scientific, Inc. and GE Healthcare. In order to establish themselves in the untapped market, companies are following various strategies including mergers & acquisitions, collaboration, vertical and horizontal integration in regions/countries where they can see potential growth.

For example, PerkinElmer has successfully taken over Vanadis diagnostics which undergoes cell free DNA-based noninvasive prenatal testing (NIPT) on the digital platform. This has extended PerkinElmer’s portfolio. Similar strategies by other companies is expected to influence the market positively which will also bring competitiveness in the market.





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