Healthcare Microchip Array Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

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Healthcare Microchip Array Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth And Forecast 2022-2027

Healthcare Microchip Array Market size is estimated to reach $1.2 billion by 2027, growing at a CAGR of 8.6% during the forecast period 2022-2027.

Healthcare Microchip Array Market Overview

Healthcare Microchip Array Market size is estimated to reach $1.2 billion by 2027, growing at a CAGR of 8.6% during the forecast period 2022-2027. A healthcare microchip array refers to the use of advanced semiconductor technology to produce microchips with varied healthcare applications. Microchips Biotech’s electronic device includes microchip arrays that can store hundreds of therapeutic doses of medication for periods ranging from months to years and discharge every dose at accurate times. The device can be programmed to discharge medication on a pre-determined schedule and will have wireless control characteristics. The microchip-based implant is thought to be really at the crossroads of digital technology and medicine and the forthcoming period of drug delivery for patients who cannot abide needles, need normal self-administered injections or where conformity is crucial to results. Presently the microchip is utilized as a means of access to medical records and financial transactions and an instrument within the employment context to raise productivity and effectiveness. The extensive application of microchip technology has the potential to be transformative to the contemporary healthcare infrastructure. The healthcare microchip array products can be applied to develop a constant monitoring system of the vitals and body condition of a patient in a wireless manner. This permits the patient to move about without being troubled by consistent medical visits and having to bear wired devices with them. Microfluidics chip technology is a rising tool in the field of biomedical applications. Microfluidics chip involves a set of groves or microchannels that are carved on distinct materials (glass, silicon or polymers like polydimethylsiloxane or PDMS, polymethylmethacrylate or PMMA). Electrophoresis can be indicated as a laboratory technique utilized for the segregation of the DNA, RNA and proteins on the basis of their electrical charge and size. Gel electrophoresis is a method that is utilized for segregating DNA fragments in a gel on the basis of their electric charge and size. A classical Healthcare Microchip Array Industry application is in medicine.

The surging automation in the healthcare industry resulting in a progressive healthcare infrastructure where continued patient monitoring facilitates effortless diagnosis of elusive ailments is set to drive the growth of the Healthcare Microchip Array Market. The heightening capability of microchip arrays to make regular therapeutic monitoring feasible in the treatment of chronic ailments, by transmitting electronic patient data to databases that can produce trustworthy outputs to enhance patient compliance is set to propel the growth of the Healthcare Microchip Array Industry during the forecast period 2022-2027. This represents the Healthcare Microchip Array Industry Outlook.

Healthcare Microchip Array Market Report Coverage

The “Healthcare Microchip Array Market Report - Forecast (2022-2027)" by Industry ARC, covers an in-depth analysis of the following segments in the Healthcare Microchip Array Market.

By Type - High-Density Microchip Array, Medium Density Microchip Array and Low-Density Microchip Array.
By Technology - Microfluidics, DNA Sequencing and Electrophoresis.
By End-User - Hospitals, Research Laboratories, Government Institutes and Others.
By Geography - North America (U.S, Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia, Rest of South America) and Rest Of The World (Middle East, Africa).

Key Takeaways

Geographically, North America (Healthcare Microchip Array Market share) accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027. This can be owed to the surging demand for microchip arrays in the healthcare sector, the healthcare infrastructure growing very rapidly attributed to the progression in technology and the increasing predominance of different ailments in the North American region.
Healthcare Microchip Array Market growth is being driven by the diverse application of scanning and diagnostic tools while still accomplishing the cost-efficiency that semiconductors have to provide through the utilization of microchip arrays and the lesser cost of microchip arrays. However, the hazard of security of data of users is one of the major factors hampering the growth of the Healthcare Microchip Array Market.
Healthcare Microchip Array Market Detailed Analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Healthcare Microchip Array Market Report.

Healthcare Microchip Array Market Segment Analysis - By Type

The Healthcare Microchip Array Market based on type can be further segmented into High-Density Microchip Array, Medium Density Microchip Array and Low-Density Microchip Array. The High-Density Microchip Array Segment held the largest Healthcare Microchip Array market share in 2021. This growth is owing to the surging application of High-density microchip arrays for biological experimentation. High-density arrays, also known as microarrays or chips, are miniaturized devices, which include tiny flat surfaces, onto which ordered arrangements of individual samples are positioned, allowing their parallel analysis, which can be used for biological experimentation. High-density array technologies allow the use of smaller sample volumes, more efficient analyses and higher throughput. Microchip electrophoresis evolved from capillary electrophoresis, which is considered a hybrid form of electrophoresis and chromatography. High-density arrays are widely used for the analysis of genome-wide expression and genetic variation and this is further propelling the growth of the High-Density Microchip Array segment.

Furthermore, the Low-Density Microchip Array segment is estimated to grow with the fastest CAGR of 9.9% during the forecast period 2022-2027 owing to the current introduction of Low-density arrays (LDAs) as a novel approach to gene expression profiling. Microfluidics is particularly advantageous for patterning low-density microarrays. Based on real-time quantitative RT-PCR (QRT-PCR), these arrays enable a more focused and sensitive approach to the study of gene expression than gene chips, while offering higher throughput than more established approaches to QRT-PCR and this is further fuelling the growth of this segment.

Healthcare Microchip Array Market Segment Analysis - By End-User

The Healthcare Microchip Array Market based on end-user can be further segmented into Hospitals, Research Laboratories, Government Institutes and Others. The Hospitals Segment held the largest Healthcare Microchip Array market share in 2021. This growth is owing to the soaring usage of hospitals by patients broadly attributed to the progressive healthcare infrastructure and presence of qualified and skilled physicians in multispecialty hospitals. As hospital organizations and healthcare providers grow into larger entities, their connections to in-network physical therapy practices become increasingly important. Moreover, the adoption of healthcare microchip arrays is surging owing to its different benefits like user input, display, wireless connectivity, processing, storage, power management and other essential functions to a wide array of essential products, life-saving equipment and critical infrastructure. The heightening application of the microchip array which is a semiconductor device array to monitor the physical condition of an individual and as a constant monitoring system for treatment of incessant ailments in hospitals further propelling the growth of this segment.

Furthermore, the Research Laboratories segment is estimated to grow with the fastest CAGR of 9.7% during the forecast period 2022-2027 owing to the surging application of microarray technology for an assortment of purposes in research like measuring gene expression and detecting specific DNA sequences (for example, single-nucleotide polymorphisms or SNPs). The soaring growth of the healthcare infrastructure through acceptance of microchip arrays in research laboratories and miniaturization of biochemical operations normally handled in a laboratory having numerous advantages like cost efficiency, parallelization, ergonomics, diagnostic speed and sensitivity is further fuelling the growth of this segment.

Healthcare Microchip Array Market Segment Analysis - By Geography

The Healthcare Microchip Array Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America and Rest of the World. North America (Healthcare Microchip Array Market) held the largest Healthcare Microchip Array market share with 35% of the overall market in 2021. This growth is owing to technological advancements and the spread of numerous diseases in the North American region. The usage of a microchip array to monitor an individual's physical status is increasing its demand in the healthcare sector as a constant monitoring system. Microchips are used to improve prosthetics, improve hearing and potentially even let paralyzed individuals move. The technology is being utilized to implant microchips into individuals. Microchip implants have a wide range of medicinal applications. Implants with prostheses are one example. To increase the movement or functionality of the prosthetic, an RFID chip can be inserted on top of the brain. The user would have both input and output capabilities with the implant. The presence of a powerful healthcare infrastructure with the emerging application of microfluidics technologies and the soaring awareness among people regarding the most recent technologies are further propelling the growth of the Healthcare Microchip Array Industry in the North American region.

Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR over the forecast period 2022-2027. This growth is owing to factors like the surging spending on healthcare in the Asia-Pacific region. The heightening demand for microfluidics and electrophoresis and the increasing count of patients enduring chronic ailments requiring the application of healthcare microchip arrays as a constant monitoring system are further fuelling the progress of the Healthcare Microchip Array Industry in the Asia-Pacific region.

Healthcare Microchip Array Market Drivers

The Rising Prevalence of Chronic Illnesses is Propelling the Growth of the Healthcare Microchip Array Market

Chronic illnesses are becoming more common. Chronic disease treatment frequently necessitates ongoing therapeutic monitoring. This is made possible by microchip arrays, which communicate electronic patient data to databases that can produce reliable outputs to promote patient compliance and help to build a constant monitoring system. Various types of chronic diseases (CD) are the leading causes of disability and death worldwide. While those diseases are chronic in nature, accurate and timely clinical decision-making is critically required. Current diagnosis procedures are frequently lengthy and costly, which presents a major bottleneck for effective CD healthcare. Rapid, reliable and low-cost diagnostic tools at point-of-care (PoC) are therefore in high demand. Owing to miniaturization, lab-on-chip (LoC) technology has a high potential to enable improved biomedical applications in terms of low-cost, high-throughput, ease of operation and analysis. According to the World Health Organization, about 41 million people lose their lives prematurely owing to preventable chronic illnesses. Owing to such factors, the demand for microchip arrays is increasing in the healthcare industry resulting in a progressive healthcare infrastructure. Smoking, environmental and inherited factors all contribute to chronic obstructive pulmonary disease (COPD), which is characterized by progressive airflow obstruction, chronic cough and dyspnea in advanced stages. Chronic bronchitis and emphysema are two clinical phenomena related to it. Currently, the creation and implementation of microarray technology allow scientists to obtain a better understanding of the pathophysiology of COPD by identifying unique gene expression patterns, which leads to the identification of gene candidates for current therapeutical techniques. Microfluidics has been utilized to facilitate the establishment of in vitro vasculature-on-a-chip that can be applied as suitable platforms for investigating the pathogenesis of different vascular ailments. Serum protein electrophoresis is applied to recognize patients with multiple myeloma and additional serum protein ailments. The rising prevalence of chronic illnesses is therefore propelling the growth of the Healthcare Microchip Array Market during the forecast period 2022-2027.

Technological Advancement in the Healthcare Sector is Fuelling the Growth of the Healthcare Microchip Array Industry

Medical healthcare has grown to be one of the fastest-growing and largest industries in the world. With the advancement of technology comes the miniaturization of physical parts, increased measurement accuracy, faster wireless communication technology and greater processing power. These technological advancements have resulted in medical devices that can be created tiny enough to be implanted into the human body and communicate wirelessly. The Organization for Economic Cooperation and Development (OECD) estimates point to average health expenditure growth of 5% in 2020, propelled by the exceptionally high growth in spending by government and compulsory schemes (+8.1%) in response to the added requirements to attend to the COVID-19 pandemic and private spending, on the other hand, fell on average by greater than 3%. Recently, the government of various economies have been focusing on the novel and more accurate way of testing for antibodies against SARS CoV-2 in recovered patients as a means to characterize the potential effectiveness of their convalescent plasma for donation to sick patients. The project used a Defense Advanced Research Projects Agency (DARPA)-funded microchip technology, originally developed for the study of the contagiousness of influenza and other common cold infections, including common coronavirus infections. Electrophoresis has been extensively utilized in the segregation and recognition of DNA (a negatively charged biopolymer) in biotechnological applications. One advancement in the field of microfluidic technology is applying fibers as replacements for conventional silicon chips. The technological advancement in the Healthcare sector is therefore fuelling the growth of the Healthcare Microchip Array Industry thereby contributing to the Healthcare Microchip Array Industry Outlook during the forecast period 2022-2027.

Healthcare Microchip Array Market Challenges

The Rising Risks from Healthcare Microchip Array are Hampering the growth of the Healthcare Microchip Array Market

Technology like microfluidics permits for the handling of liquid with volumes usually in the range of nano- to microliters (10-9 to 10-6 L) or smaller. Technology continues to get closer to merging with human bodies from the smartphones in the hands to the smartwatches on the wrists to earbuds. Presently, it is getting under the skin literally with a tiny microchip. There are certain issues that arise with implanting people with microchips though. Issues include being able to track the previous and current location of a person, their purchasing habits, legal and privacy concerns as well as hacking their personal and financial information. This technology is promising and is another step towards more convenience and simplifying many of the daily tasks of billions of people around the world. However, it comes without solid security, safety and privacy measures applied when using this tiny chip. A human microchip implant is typically an identifying integrated circuit device or RFID (Radio-Frequency Identification) transponder encased in silicate glass and implanted in the body of a human being. This type of subdermal implant usually includes a unique ID number that can be linked to information contained in an external database, like personal identification, law enforcement, medical history, medications, allergies and contact information. Government regulations like General Data Protection Regulation (GDPR) in the European Union (EU) and recent regulations in the U.S. ban forced usage of the chip. These issues are restraining the growth of the Healthcare Microchip Array Market.

Healthcare Microchip Array Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Healthcare Microchip Array Market. The top 10 companies in the Healthcare Microchip Array market are:

Advanced Microlabs
Affymetrix
Advanced Liquid Logic
Akonni Biosystems
Agilent Technologies Inc.
3M’s Health Care
Boston Scientific Corporation
Bausch and Lomb
PSivida Pharmaceutical Inc.
Delpor Inc.

Recent Developments

In April 2021, 3M Health Information Systems launched a novel technology platform that permits health care providers and payers to prioritize care and allocate resources for high-risk individuals and patient populations. 3M™ Social Determinants of Health Analytics (3M SDoH) integrates clinical, social and population health data to create a total picture of patient health. The novel platform builds on the power of 3M™ Clinical Risk Groups (3M CRGs), a population classification system and includes social risk intelligence from Socially Determined, a social risk analytics company, to promote program design and management in collaboration with community-based organizations.
In November 2019, Dare Biosciences Inc. acquired Microchips Biotech, Inc. The technology helps to secure Microchips’ innovative, drug delivery technology. The technology, which has been validated in a first-in-human clinical study in osteoporosis patients, is designed to store and precisely deliver hundreds of therapeutic doses over months or years in a single implant.
In June 2019, Akonni Biosystems planned to build up a menu of diagnostic panels for complicated ailments that need the detection of tens to hundreds of biomarkers with its earliest U.S. Food and Drug Administration clearance of an instrument and assay. The Frederick, Maryland-based firm aims to capitalize on the low cost of its technology, higher multiplexing capabilities compared to most competitors and the potential to test for nucleic acids and proteins or carry out enzymatic reactions utilizing its proprietary array-based technology. The firm's TruDiagnosis platform was cleared by the U.S. Food and Drug Administration earlier this month together with a pharmacogenetic test for three alleles to assist in guiding blood thinner treatment. This concludes the Healthcare Microchip Array Industry Outlook.