The surgical chips market is growing pervasively mainly due to the burgeoning healthcare sector. The market is booming and expected to gain prominence over the forecast period. Acknowledging this growth of the market, Market Research Future (MRFR) in its recently published study report asserts that the global surgical chips market is poised to expand enormously by 2027 registering a steady CAGR throughout the assessment period (2017 and 2027).
Additionally, factors such as the advancements in technology and increasing automation in the healthcare sector are substantiating market growth. These technological advancements are leading to widening the applications of these chips for various tasks that have been directed towards reducing the costs of products.
On the flip side, prohibiting cost of these surgical chips, risks associated with the surgeries, and the skepticism toward technology are some of the factors impeding the growth of the market. However, recent developments in surgical chips such as high integration of advanced artificial intelligence (AI)technology along with the spreading awareness towards the advantages and usages of surgical chips for patient tracking, medical records management, and healthcare quality control are expected to support the growth of the surgical chips market throughout the review period.
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Key Players
Some of the prominent participants identified by MRFR in the global surgical chips market are Abbott Laboratories (US) Agilent Technologies, Inc. (US) Perkinelmer, Inc. (US) Fluidigm Corporation (US) Illumina, Inc. (US) GE Healthcare (UK) Bio-Rad Laboratories Inc. (US) Cepheid (US), Thermo Fisher Scientific, Inc. (US) Roche Diagnostics (Switzerland).
Market Segmentation
The global market for surgical chips has been segmented into types, end-users, and applications.
Based on Types, the global market for surgical chips has been segmented into DNA Chips, brain chips, lab chips, protein chips, tissue chip, and others. The DNA chips segment is gaining considerable momentum from various factors, such as large-scale initiatives in the related field, the demand for personalized medicine, miniaturization of DNA chips, the need for early detection of cancer, and consequent diagnosis and therapy.
Based on End-users, the global market for surgical chips has been segmented into hospitals, clinics, research facilities, and others. With continuing research and development activities conducted by companies, many research facilities have expanded to meet these requirements. Continuous advances and developments are, therefore, only possible with the high availability of research facilities.
Based on Application, the global market for surgical chips has been segmented into cancer diagnosis and treatment, gene expression, SNP genotyping, genomics, clinical diagnostics, and others. Increasing cases of cancer patients, changing lifestyles, and eating patterns have contributed to a significant increase in the cancer diagnosis and treatment market.
Regional Analysis
The global market for surgical chips is regionally split into the Americas, Asia Pacific, Europe, and the Middle East & Africa.
The North American region, heading with the well-established healthcare sector, accounts for the leading market for the surgical clips. Factors such as the increasing demand for chip-based technology and devices and the growing prevalence of lifestyle-borne and chronic diseases positively impact the growth of the regional market.
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The Europe surgical chips market led by the increasing healthcare expenditures and availability of advanced treatment facilities, accounts for the second-largest market, globally. Factors such as the increasing government initiatives & funding for research activities, rising demand for technology-based medical devices, and advancements in the treatment procedures options are fostering the growth of the regional market.
The Asia Pacific surgical chips market backed by the faster adoption of healthcare technology is rapidly emerging as a promising market. Moreover, factors such as favorable government policies to improve the quality of healthcare alongside the favorable reimbursement and insurance policies are fostering the growth of the APAC surgical chips market.
