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 Global Biochip Market: http://www.grandviewresearch.com/industry-analysis/biochips-market
Further Key Findings From the Report Suggest:
- DNA
chips form the largest revenue-generating segment of the biochip
applications. Major contribution to this share comes from usage in cancer
diagnostics/treatment and drug discovery applications. DNA chips accounted
for around a third of the global market revenue in 2015. The other notable
contributing segments to application of biochips include gene expression,
single nucleotide polymorphism genotyping, genomic studies, and
agricultural biotechnology.
- The
market is expected to have a high potential for growth as the technology
has numerous applications to aid the miniaturization of molecular biology
and biochemical & chemical assays. Over time, such miniaturization is
expected to benefit medical technologies in terms of cost and input
requirements.
- DNA
chips, lab-on-a-chip, protein chips, and tissue & cell arrays find a
number of uses in pharmaceutical & biotechnology companies, academic
& research institutes, hospitals & diagnostic centers, and other
end users like point-of-care settings, forensic labs, blood banks, etc.
- North
America was the largest revenue-generating region and accounted for over
45%of total revenue in 2015. This can be attributed to by the presence of
government initiatives for personalized patient care coupled with the
availability of a very large installed base of genetic and proteomic profiling
platforms across the U.S. High market usage of next-gen sequencing
techniques for molecular diagnosis and treatment used with microfluidic
techniques also add to the large share. Furthermore, cancer analysis
projects in a number of academic and clinical research institutes are also
responsible for the region’s large share.
- Some
key players operating in this industry include Abbott Laboratories;
PerkinElmer, Inc.; GE Healthcare; Illumina, Inc.; Thermo Fisher
Scientific, Inc.; Merck Millipore; Agilent Technologies, Inc.;
Sigma-Aldrich Corporation; Fluidigm Corporation; and Bio-Rad Laboratories,
Inc.
View More Related
Reports from same category by Grand View Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research
has segmented the Global Biochip market on the basis of type, end use, region:
Biochip Outlook, by Type (Revenue, USD Million, 2013
- 2024)
- DNA
chips, by application
- Cancer
diagnosis and treatment
- Gene
expression
- Single
Nucleotide Polymorphisms Genotyping
- Genomics.
- Drug
discovery
- Agricultural
biotechnology
- Others
- Lab-on-a-chip,
by application
- Genomics
- IVD
& POC
- Proteomics
- Drug
discovery
- Others
- Protein
chips, by application
- Proteomics
- Expression
Profiling
- Diagnostics
- HTS
- Drug
Discovery
- Others
- Tissue
Arrays
- Cell
Arrays
Biochip Outlook, by End Use (Revenue, USD Million, 2013
- 2024)
- Biotechnology
and Pharmaceutical Companies
- Hospitals
and Diagnostics Centers
- Academic
& Research Institutes
- Others
Biochip Regional Outlook (Revenue, USD Million, 2013
- 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- MEA
- South
Africa
Access Press Release on this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-biochip-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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