Biochips Market Size USD 16490 Million by 2026 at CAGR 9.1% | Valuates Reports

Biochips Market Size USD 16490 Million by 2026 at CAGR 9.1% | Valuates Reports

PR Newswire

BANGALORE, India, Dec. 18, 2020

BANGALORE, India, Dec. 18, 2020 /PRNewswire/ -- The Biochips Market is Segmented by Type (DNA Chip, Lab-on-a-Chip, Protein Chip, Others), By Application (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostics Centers, Academic & Research Institutes), Key Vendors and Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Biotechnology category.

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The global Biochips Market size is projected to reach USD 16490 Million by 2026, from USD 9796.3 Million in 2020, at a CAGR of 9.1% during the forecast period 2021-2026.

Major factors driving the growth of Biochips Market size are, increasing application in the field of genomics, drug discovery, proteomics and the rising prevalence of cancer, immunological disorders, viral infections, rise in geriatric population, and high adoption of personalized medications

This report focuses on Biochip market volume and value at the global level, regional level, and company level. From a global perspective, this report represents the overall Biochips market size by analyzing historical data and prospects. Regionally, this report focuses on several key regions: North America, Europe, Japan, China, Southeast Asia, India, etc.

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TRENDS INFLUENCING THE BIOCHIPS MARKET

Biochips have applications ranging from identification of disease markers to accelerated drug development, including several research applications in genomics, genotyping, and proteomics. The increase in expenditure on clinical R&D and the substantial allocation of resources for genomic and proteomic research are factors that are expected to drive the growth of biochips market size.

The growing need to reduce processing time and decrease the dependency on clinical tests for diagnosis has increased the demand for biochip and bio-array techniques. Rapid technological advances related to these techniques and a wide variety of products on offer, due to new product releases, are expected to increase the growth of biochips market size.

Furthermore, the growing prevalence of immunological disorders and rise in the geriatric population is expected to further fuel the growth of biochips market size. However, factors such as high biochip costs and lack of awareness of biochips might impede market growth in emerging nations.

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BIOCHIPS MARKET SHARE ANALYSIS

Based on application, Biotechnology and Pharmaceutical Companies are expected to hold the largest biochips market share during the forecast period. 

Based on the region, North America is expected to hold the largest biochips market share during the forecast period. The fast-growing adoption of personalized medicine, the use of biochips, mainly for the discovery of new drugs, and the advancement of biochip technologies are factors responsible for the region's dominant position. In addition, government policies that promote precision medicine coupled with substantial investment in R&D for cancer genomics, human proteome, etc are also expected to result in higher revenues for North America.

Asia Pacific region is expected to witness the highest growth during the forecast period. This rapid growth of Asia-Pacific is attributed to the large population base, increase in disposable income, and improvement in patient awareness about biochips.

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BIOCHIPS MARKET SEGMENTATION

Following are the segments covered by the report are:

By Application:

Key Companies:

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SIMILAR REPORTS :

Organ-on-Chip Market size is projected to reach USD 303.6 Million by 2026, from USD 41 Million in 2020, at a CAGR of 39.9% during 2021-2026. Major producers in the industry include Emulate, TissUse, and Hesperos, which accounted for 12.71%, 10.05%, and 8.11% of revenue, respectively.

DNA and Gene Chips Market: Top companies in the DNA and Gene Chips Market include Bio MérieuxSA, Thermo Fisher Scientific Inc., Savyon Diagnostics, Agilent Technologies, Applied Micro Arrays Illumina Inc., Toshiba Hokuto Electronics Corporation, TOSHIBA Perkin Elmer Inc., Oxford Gene Technology, Arrayit Corporation, MYcroarray Macrogen Inc., Greiner Bio-One, Asper Biotech, CapitalBio Corporation, and Microarrays Inc.

This report focuses on global DNA and Gene Chips status, future forecast, growth opportunity, key market, and key players. The study objectives are to present the DNA and Gene Chips development in North America, Europe, China, Japan, Southeast Asia, India, and Central & South America.

Lab-on-a-chip (LOC) Market: The United States has the largest global sales quantity and manufacturers in the Lab-on-a-chip (LOC) market, while Europe is the second-largest sales volume market for Lab-on-a-chip (LOC) in 2017.

The report includes a country-wise and region-wise market size for the period 2015-2026. It also includes market size and forecast by each application segment in terms of revenue for the period 2015-2026.

Microarray Biochips Market size was USD 1001.4 Million and it is expected to reach USD 1830.7 Million by the end of 2026, with a CAGR of 8.9% during 2021-2026. 

Illumina and Thermo Fisher Scientific are the two largest companies in the industry, accounting for more than 74 percent of 2018 revenue combined. In terms of production value, the United States occupies the absolute position, with production value accounting for more than 86%.

Protein Chip Market is Segmented by Type Reverse Phase Protein Microarray, Functional Protein Microarray, Analytical Microarray, by Application Antibody Characterization, Protein Functional Analysis, Proteomics, Diagnostics.

BioChips and BioMEMS Market is Segmented by Type DNA Chips, Lab-on-a-chip, Biosensors, Drug Delivery Systems, Microfluidic Devices, Biomems Implants, Silicon Structures, Microactuators, by Application Hospital, Labrary, Others  and by various regions.

Biochip Products and Services Market is Segmented by Type Active Chips, Passive Chips, by Application Medical, Pharmaceutical, Life Science, Agricultural, Others and by various regions.

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