Growing Applications of Biochips and Technological Advancements Will Boost the Growth of the Biochips Market
The biochips market is expected to reach USD 17.75 billion by 2020 from USD 7.63 billion in 2015, growing at a CAGR of 18.4% during the forecast period (2015–2020). A biochip is an assembly of miniaturized test sites arranged on a solid substrate that permits many tests to be performed at the same time in order to achieve higher throughput.
In this report, the biochips market is segmented on the basis of type, application, fabrication technology, end user, and region. Based on type, the market is segmented into DNA chips, lab-on-a-chip, protein chips, and other arrays. The other arrays segment includes cell arrays and tissue arrays.
Based on end users, the biochips market is categorized into four major segments, namely, hospitals & diagnostic centers, biotechnology & pharmaceutical companies, academic & research institutes, and other end users (blood banks, CROs, forensic labs, point-of-care settings, home health agencies, nursing homes, and local public health laboratories). Similarly, based on fabrication technology, the biochips market is segmented into microarrays and microfluidics.
Increasing adoption of personalized medicine, growing applications of biochips, and technological advancements are the major drivers for the biochips market. However, unclear regulatory guidelines, high instrumentation costs, and absolute quantification of specific mRNA may restrain the market growth to a certain extent. On the other hand, developing countries are expected to offer significant growth opportunities for players operating in the biochips market.
PerkinElmer Inc. (U.S.), Fluidigm Corporation (U.S.), Illumina, Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), Cepheid Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.) are the major players in the biochips market.
Reasons to buy this report:
From an insight perspective, this research report focuses on various levels of analysis—industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the biochips market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on products offered by the top players in the global biochips market
- Product Development/Innovation: Detailed insights on the upcoming technologies, research & development activities, and new product launches in the biochips market
- Market Development: Comprehensive information about lucrative emerging markets—the report analyzes the markets for biochips across various regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global biochips market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the biochips market.