Global Biochips Anticipated Market to reach USD 25.84 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of personalized medicine and rapid technological advancements in the biochips market along with high market demand from proteomic and genomic applications is expected to drive market growth.
Anticipated launch and commercialization of novel products for diagnosis and treatment including laboratory- and non-laboratory-based research are expected to further reinforce growth in demand. Improvements in accuracy, resolution, and preparation procedures for the technology coupled with reduction in costs of associated materials are expected to fuel growth over the forecast period.
Ongoing developments related to further miniaturization of biochips are expected to enhance their applicability and additional usage for genetic sequencing methodologies, such as cancer genomics. Their usage is also expected to aid reduction in the cost of genome profiling, which is a factor likely to drive demand for the next step of genetic analysis, i.e., protein expression analysis. Consequently, a growth in the number of such protein profiling studies is expected to directly fuel demand for genomic and proteomic labeling techniques through to 2024.
Access Full Research Report On Biochip Market: http://www.grandviewresearch.com/industry-analysis/biochips-market
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