The Global BiochipsMarket, By Product Type (DNA Chips, Protein Chips, Lab-on-a-Chip, andOthers), By Technology (Microfluidics and Microarray), By Application(Genomics, Proteomics, Drug Discovery & Development, and In VitroDiagnostics), and By Region (North America, Latin America, Europe, AsiaPacific, Middle East, and Africa) was valued at US$ 7,026.4 million in 2016 andis projected to exhibit a CAGR of 16.2% over the forecast period (2017 – 2025).
Growth of the biochips market isattributed to increasing adoption of biochips for various researchapplications, applications in personalized medicine, applications in cancertherapies, and ongoing research and development by leading players to enhancetechnologies in biochips. Manufacturersare focusing on introducing innovative biochips in line with needs and demandsof customers. For instance, Micralyne, Inc. launched Silicon MicraFluidicstechnology, a line of standardized microfluidic process technologies, whichenables rapid design and deployment of microfluidic-based products in February2018. InDevR Inc. launched a FluChip-8G technology in February 2018, which canbe used only for research purposes. InDevR Inc.’s FluChip-8G Influenza A+BAssay is based on amplification technology, DNA microarrays, and machinelearning. Furthermore, in December 2017, 3dbiosurfaces and STRATEC ConsumablesGmbH launched 3D NS-NC slide, which is used for proteomics studies. In November2017, Micronit Microtechnologies, Axxicon, and Helvoet collaborated to meetincreasing demand for high volume polymer microfluidic products worldwide.
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Browse 40 Market Data Tables and34 Figures spread through 152 Pages and in-depth TOC on Biochips Market, byProduct Type (DNA Chips, Protein Chips, Lab-on-a-Chip, and Others), ByTechnology (Microfluidics and Microarray), By Application (Genomics,Proteomics, Drug Discovery & Development, and In Vitro Diagnostics), andRegion (North America, Latin America, Europe, Asia Pacific, Middle East, and,Africa) - Global Forecast to 2025
Active research and developmentof biochips technology such as microfluidics and microarrays is expected tofuel growth of the global biochips market. A new biochip-based blood test hasbeen developed to detect elevated risk for Alzheimer’s disease and pairing thistest with medical and family history can advance personalized medicinesignificantly. Researchers from Randox Laboratories and Medical University ofVienna presented the results of this test at the 68th American Association forClinical Chemistry (AACC) scientific meeting in 2016. Furthermore, anIsrael-based company, NovellusDx, used biochip technology to recreate apatient’s genetic map to identify gene mutations driving the cancer in August2017. This technology can help oncologists to choose the right cancer therapyfor patients. In February 2018, researchers from Osaka University, Japan developeda diagnostic lab-on-a-chip, which has combined terahertz waves with amicrofluidic device. Integration of recent innovations with the existingbiochip technologies is expected to further improve the effectiveness of theseproducts.
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Key Takeaways of the BiochipsMarket:
The global biochips market isexpected to exhibit a CAGR of 16.2% over the forecast period (2017 – 2025),owing to continuous product offerings by key players such as Thermo FisherScientific, and Illumina, Inc. in biochips market
Increasing competition in themarket has led to increasing focus of key players on continuous productdevelopment, in order to enhance their market share. This is expected to aid inmarket growth over the forecast period.
DNA Chips segment is expected todominate the global biochips market over the forecast period at a CAGR of16.2%, owing to applications in transcriptomes and proteomes, diagnosis ofdiseases, and others
Microarray technology is expectedto account for maximum share percentage over the forecast period due toapplication in diagnosis, drug discovery and development, and biotechnology
Major players operating in thebiochips market include Randox Laboratories, Fluidigm Corporation, AbbottLaboratories, Agilent Technologies, Inc., ThermoFisher Scientific, Inc.,Bio-Rad Laboratories, Inc., Illumina, Inc., and PerkinElmer, Inc.
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