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.
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summary of this report @ 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.
Browse
more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the Biochip market on the basis of type, end use, region:
Biochip Outlook, by Type (Revenue, USD Million, 2013 - 2024)
·
DNA chips, by application
o
Cancer diagnosis and treatment
o
Gene expression
o
Single Nucleotide Polymorphisms Genotyping
o
Genomics.
o
Drug discovery
o
Agricultural biotechnology
o
Others
·
Lab-on-a-chip, by application
o
Genomics
o
IVD & POC
o
Proteomics
o
Drug discovery
o
Others
·
Protein chips, by application
o
Proteomics
o
Expression Profiling
o
Diagnostics
o
HTS
o
Drug Discovery
o
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
o
U.S.
o
Canada
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
Japan
·
Latin America
o
Brazil
·
MEA
o
South Africa
For press release of this report - http://www.grandviewresearch.com/press-release/global-biochip-market
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