Biochip Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A growing need to reduce turnaround time and miniaturize biological and clinical tests used for research & diagnosis has increased demand for biochip and bio-array techniques. Biochips have applications ranging from disease marker identification to accelerated drug development, including a number of research applications in fields of genomics, genotyping, and proteomics. This chip can performs a thousands of biochemical reactions in few seconds. Simultaneous and specific profiling of biological markers is a major application of biochips. In addition, they are also critical components in studies investigating multiple parameters simultaneously.

MARKET SCOPE

The "Global Biochip Market Analysis to 2031" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Biochip market with detailed market segmentation by type and end user and geography. The report provides key statistics on the market status of the leading Biochip market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

Based on type, the global Biochip market is segmented into DNA chips, protein chips, lab-on-a-chip, other Arrays.

Based on end user, the market is categorised into hospitals and diagnostics centers, academic and research institutes, biotechnology and pharmaceutical companies.

MARKET DYNAMICS

Drivers

• Increased adoption in various applications in the field of genomics, drug discovery, and proteomics.
• The development of targeted and personalized medicines for the treatment of cancer.
• Technological advancements in biochips.
• Increase in expenditure on the clinical research.

Restraints-

Expensive technology along with need of specific tools such as robotics and bioinformatics.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The Biochip market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Biochip market in these regions.

IMPACT OF COVID-19 ON BIOCHIP MARKET

With the outbreak of COVID-19, the market is expected to have a net positive impact on the lab-on-a-chip and microarray market. The global pandemic has increased the focus on the development of less time-consuming diagnostic kits along with the increased use of lab-on-a-chip and microarray techniques in pharmaceutical R&D, which is likely to have a positive effect on the market. Recently, one of the Singapore-based molecular diagnostics manufacturers, Veredus Laboratories in February 2021 has announced the commercial availability of their portable lab-on-chip diagnostic tool for the detection and differentiation 2021-nCoV, SARS-CoV, and MERS-CoV.

MARKET PLAYERS

The report covers key developments in the Biochip market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Biochip market are anticipated to lucrative growth opportunities in the future with the rising demand for Biochip in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Biochip market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Abbott Laboratories
• Agilent Technologies, Inc.
• PerkinElmer Inc.
• Fluidigm Corporation
• Illumina, Inc.
• GE Healthcare
• Bio-Rad Laboratories Inc.
• Cepheid Inc.
• Thermo Fisher Scientific, Inc.
• F. Hoffmann-La Roche AG
• Sigma-Aldrich Corporation

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Biochip Report Scope