Market Scenario:
Market Research Future (MRFR) provides an in-depth analysis of regional data with Growth Potential, Opportunities, Drivers, Industry-Specific Challenges for Worldwide Biochips Market.
An expert on premium research reports, Market Research Future has added a report titled "Global Biochips Market 2023" to its offering. The report provides an in-depth analysis by by Type (DNA Chips, Lab-On-A-Chip, and Protein Chips), by Technology (Microarrays, and Microfluidics) By End User (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostics Centers)-Forecast Till 2023
Global Biochips Market trends held a market value of USD 7,300 million in 2017, according to the MRFR. The market is expected to exhibit a strong 16.6% CAGR over the forecast period from 2018 to 2023, according to the report.
Biochips are intended to function in biological environment, preferably inside living organism. The factors such as increasing technological advancements in biochips is the major driving factor for the market. Moreover, increasing adoption of personalized medicine, as personalised medicine has many applications in cancer genomics. Furthermore, growing applications will boost the biochips market size and growth during forecast period. For instance, biochips can perform thousands of biological reactions operations in few seconds.
However, high cost of the instruments and stringent regulatory guidelines may restrain the growth of the market.
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According to national Cancer Institute, in 2018, an estimated 1,735,350 new cases of cancer were diagnosed in the United States and 609,640 people may die from the disease.
Competitive Landscape:
Perkinelmer, Inc., Fluidigm Corporation, Agilent Technologies, Inc., Abbott Laboratories, Bio-Rad Laboratories Inc., Cepheid Inc., Illumina, Inc., GE Healthcare, Thermo Fisher Scientific, Inc, Roche Diagnostics are some of the prominent players in the global biochips market.
Segmentation:
The Global Biochips Market has been segmented into type, technology, and end user.
By type, the market has been segmented into DNA chips, lab-on-a-chip, protein chips, cell arrays, and tissue arrays. DNA chips is further segmented into gene expression, SNP genotyping, cancer diagnosis & treatment, genomics, drug discovery, agricultural biotechnology, and others. Lab-on-a-chip is further segmented into clinical diagnostics, genomics, IVD (In-Vitro Diagnostic) & POC (Point of care), Proteomics, Drug Discovery, and others. Protein chips is further segmented into proteomics, expression profiling, diagnostics, high-throughput screening, drug discovery, others.
Based on technology, the market has been segmented into microarrays and microfluidics.
The biochips market, by end user, has been segmented into biotechnology and pharmaceutical companies, hospitals and diagnostics centers, academic & research institutes, and others.
Regional Market Summary
Geographically, the Americas is anticipated to dominate the global biochips market owing to the high domestic income, and presence of major market players. Moreover, increasing patient population in US. According to American Cancer Society, the overall estimate of 1,735,350 cases for 2018 equals more than 4,700 new cancer diagnoses each day.
Europe is expected to hold the second largest position in the global biochips market. The market growth in this region is attributed to the presence of strong academic & research base and availability of funding for research in the European countries. For instance, the European Research Council (ERC) provides grants for technological and scientific research conducted within the European Union (EU).
The biochips market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to increasing government focus on biomedical and biotechnology sector and growing number of target population in the region.
The Middle East & Africa has the lowest biochips market share in global market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
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Biochips Market AnalysisThe biochips market has been growing significantly over the past few years.
According to Market Research Future (MRFR), the global biochips market had valued at USD 7,300 MN, in 2017 and is estimated to grow exponentially over the next six years.
Furthermore, growing applications of biochips would help in boosting the growth in the market during the review period.Moreover, increasing mergers and acquisition, growing collaborations and partnerships, and product launches are some of the latest trends in the global biochips market.
Furthermore, factors such as the increasing clinical trials and drug discovery activities, advancements such as lab-on-chip and splice variants, the wider application area of microarray, and government initiatives & support are expected to develop new market opportunities.On the flip side, substantially high cost of the instruments and stringent regulatory guidelines are some of the significant factors inhibiting the growth of the global biochips market.
Also, the lack of standardization in microarray data, and skilled professionals may restrain the growth of the market.
Nevertheless, factors such as the need for early cancer detection, diagnosis, and large-scale DNA/gene chip initiatives are some of the predominant factors expected to support market growth over the assessment period.
Next Generation Sequencing Market Research Report: By Technology (Targeted Sequencing & Resequencing, Whole Genome Sequencing and Whole Exome Sequencing), Workflow (Pre-Sequencing, Sequencing, and Data Analysis), Application (Oncology, Clinical Investigation, Reproductive Health, Human Leukocyte Antigen Typing or Immune System Monitoring, Metagenomics, Epidemiology & Drug Development, Agrigenomics & Forensics, Consumer Genomics), End User (Hospitals & Clinics, Diagnostic Laboratories, and Pharmaceutical & Biotechnology Companies) and Region (Americas, Europe, Asia-Pacific, and the Middle East & Africa) - Global Forecast till 2025Global Next Generation Sequencing Market Share is expected to exhibit significant growth over the forecast period.
The NGS Market Growth is projected to register a CAGR of 18.05% over the forecast period to reach USD 20,347.45 Million by 2025.There are various diseases that have their roots in genetics such as cancer, diabetes, Alzheimer’s, arthritis, heart disease etc.
To discover viable treatment to these diseases, researchers are looking to discern how genes work.
Next generation sequencing market has been gaining impetus due to the fact that next-generation sequencing is integral to field of genomics.
The NGS technologies are implemented for several applications, including whole genome sequencing, de novo assembly sequencing, resequencing, and transcriptome sequencing at the DNA or RNA level.
The successful application of next-generation sequencing can lead to predicting of genes, protein coding regions, and pathways.Illumina, Helicos Biosciences, Thermo Fisher Scientific, Roche, Pacific Bioscience, ABI Life Technologies, and Oxford Nanopore are some of the companies that are implementing different NGS technologies which in turn will augment global next generation sequencing market which is estimated to reach a massive market valuation by 2023.Next Generation Sequencing Market Competitive Landscape:Some of the key players in the global next-generation sequencing market Illumina, Inc., Thermo Fisher Scientific, Inc., Pacific Biosciences of California, Inc., BGI, PerkinElmer, Agilent Technologies, QIAGEN N. V., Macrogen Inc., Oxford Nanopore Technologies, Ltd., and Eurofins Scientific.
The Global Biochips Market Report, with its deep industry analysis of the market, estimates the market size bifurcated into segments and regions.
The Biochips market share and growth, trends estimated at the end of 2027 give a fair idea of the new opportunities coming up in the market.
The detailed key player's profile and market share analysis give a better understanding of the competitors and their business strategies.Base Year: 2020Estimated Year: 2021Forecast Till: 2027The report classifies the market into different segments based on type and product.
These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.Get | Download FREE Sample Report of Global Biochips Market @ https://www.decisiondatabases.com/contact/download-sample-5206A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Biochips market.
The impact is closely studied in terms of production, import, export, and supply.The report covers the complete competitive landscape of the Worldwide Biochips market with company profiles of key players such as:Abbott LaboratoriesAgilent Technologies, Inc.Perkinelmer, Inc.Fluidigm CorporationIllumina, Inc.GE HealthcareBio-Rad Laboratories Inc.Cepheid Inc.Thermo Fisher Scientific, Inc.Roche DiagnosticsWant to add more Company Profiles to the Report?
