GlobalBiochips Market Research Report: by Type (DNA Chips, Lab-On-A-Chip, and ProteinChips), by Technology (Microarrays, and Microfluidics) By End User(Biotechnology and Pharmaceutical Companies, Hospitals and DiagnosticsCenters)-Forecast Till 2027
MarketHighlights:
The GlobalBiochips Market held a market value of USD 7,300 million in 2017 and isprojected to grow at a CAGR of 16.6% over the forecast period.
Due toincreasing focus on research and development of cell therapies, moreoverincreasing applications in cancer treatment. Companies are using a trend ofstrategic alliance and acquisition to gain the market and minimize thecompetition in the market.
Segmentation:
The Global Biochips Market has been segmented into type, technology, and enduser.
By type,the market has been segmented into DNA chips, lab-on-a-chip, protein chips,cell arrays, and tissue arrays. DNA chips is further segmented into geneexpression, SNP genotyping, cancer diagnosis & treatment, genomics, drugdiscovery, agricultural biotechnology, and others. Lab-on-a-chip is furthersegmented into clinical diagnostics, genomics, IVD (In-Vitro Diagnostic) &POC (Point of care), Proteomics, Drug Discovery, and others. Protein chips isfurther segmented into proteomics, expression profiling, diagnostics,high-throughput screening, drug discovery, others.
Based ontechnology, the market has been segmented into microarrays and microfluidics.
Thebiochips market, by end user, has been segmented into biotechnology andpharmaceutical companies, hospitals and diagnostics centers, academic &research institutes, and others.
RegionalMarket Summary
Geographically,the Americas is anticipated to dominate the global Biochips Market size owing to the highdomestic income, and presence of major market players. Moreover,increasing patient population in US. According to American Cancer Society,the overall estimate of 1,735,350 cases for 2018 equals more than 4,700 newcancer diagnoses each day.
Europe isexpected to hold the second largest position in the global biochipsmarket. The market growth in this region is attributed to the presence ofstrong academic & research base and availability of funding for research inthe European countries. For instance, the European Research Council (ERC)provides grants for technological and scientific research conducted within theEuropean Union (EU).
Thebiochips market in Asia-Pacific region consists of countries namely China,Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. TheAsia-Pacific region is expected to be fastest growing region owing toincreasing government focus on biomedical and biotechnology sector and growingnumber of target population in the region.
TheMiddle East & Africa has the lowest biochips market share in globalmarket. Majority of the market of the region is anticipated to be held bythe Middle East region owing to the growing government initiatives for thehealthcare sector.
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