Report Description

Forecast Period

2024-2028

Market Size (2022)

USD 14.96 Billion

CAGR (2023-2028)

14.09%

Fastest Growing Segment

Drug Discovery & Development

Largest Market

North America


Market Overview

Global Biochip Market has valued at USD 14.96 Billion in 2022 and is anticipated to project impressive growth in the forecast period with a CAGR of 14.09% through 2028. Biochips are miniature medical devices designed to perform multiple biochemical reactions simultaneously, reducing the required time. They consist of micro-test sites or microarrays arranged on a solid substrate. Biochips are available in various forms, including DNA, protein, enzyme, and lab-on-a-chip. These compact and powerful devices are user-friendly and provide accurate critical insights. They are particularly suitable for storing personal medical and financial information and can be used for tracking individuals. Implanted in the body, biochips assist in monitoring, analyzing, and controlling patient health and biological processes. Additionally, they contribute to hazard identification, ensuring a safe environment, and improving decision-making. Consequently, biochips have widespread applications in gene, oncology, and inflammatory diagnosis, as well as molecular analysis worldwide.

Key Market Drivers

Growing Use of Biochips in Personalized Medicine

Biochips play a crucial role in point-of-care diagnosis and molecular diagnostics, driving high demand for their application in personalized medicine. These chips prove invaluable in distinguishing between normal and cancerous cells, enabling rapid analysis of the entire proteome for protein-based therapeutics. Moreover, they serve as reliable tools for detecting a wide range of biomarkers with limited sample quantities, offering immense potential in disease diagnosis and treatment. Consequently, the demand for biochips in personalized medicine continues to soar.

The use of Biochips in molecular diagnostics and point-of-care diagnosis is expected to create a significant demand for these chips in advancing customized medicine. These innovative chips play a crucial role in accurately identifying and differentiating between healthy and malignant cells' proteins, providing valuable insights for protein-based treatments. One of the key advantages of Biochips is their ability to facilitate a comprehensive study of the complete proteome in a quick and efficient manner. Their high demand in personalized medicine stems from their reliability in identifying a wide range of indicators using a limited number of samples, while also offering the potential for effective diagnosis and treatment of various conditions. With their unique capabilities, Biochips are poised to revolutionize the field of personalized medicine and contribute to the advancement of tailored healthcare solutions.

Increased Technological Advancement

The use of Biochips in proteomics has significantly increased alongside technological advancements. With the progress in nanotechnology, Biochips have become even more valuable due to their enhanced functionality, reduced size, and wider range of applications. They are now extensively utilized in diagnostics, research, medication development, and toxicological studies. These versatile chips find applications in genotyping, peptides, customized medicine, and various other fields, which has fostered the emergence of new technologies by both established manufacturers and young entrepreneurs. As the demand for Biochips continues to grow, the market is witnessing a surge in innovative products and funding for research and development.

Increasing Demand for Point-of-care Testing

The increasing demand for point-of-care (POC) testing is poised to have a significant positive impact on the demand for biochips in the field of diagnostics and healthcare. POC testing refers to diagnostic tests that are conducted near the patient, often at the bedside or in outpatient settings, providing rapid results without the need for centralized laboratory facilities. Biochips, also known as microarrays, are a key enabler of POC testing due to their versatility, efficiency, and suitability for miniaturized, high-throughput diagnostic applications.

POC testing can enhance access to healthcare services, particularly in underserved or remote areas with limited access to centralized laboratories. Biochip-based POC tests are portable and can be used in resource-limited settings. Biochips enable the profiling of individual patient biomarkers, allowing for personalized treatment plans tailored to a patient's unique genetic makeup, which is a cornerstone of modern medicine.

The increasing demand for POC testing, driven by the need for faster, more convenient, and personalized diagnostics, is expected to boost the demand for biochips. As biochip technology continues to evolve and adapt to emerging healthcare challenges, it is poised to play a pivotal role in transforming the landscape of healthcare diagnostics and improving patient care globally.

Increasing Application of Proteomics and Genomics in Cancer Research

The increasing application of proteomics and genomics in cancer research is poised to significantly boost the demand for biochips, revolutionizing the way cancer is diagnosed, characterized, and treated. Biochips, also known as microarrays, serve as powerful tools in this endeavor due to their ability to simultaneously analyze thousands of genes or proteins in a single experiment. Identifying reliable biomarkers for early cancer detection, prognosis, and treatment response is essential. Biochips enable researchers to screen large numbers of potential biomarkers quickly and efficiently, accelerating the discovery of novel markers with diagnostic and therapeutic significance.

Biochips play a vital role in drug discovery and development. They facilitate the screening of compounds or therapeutic agents against cancer-related proteins or genes, helping identify potential drug candidates and advancing the development of targeted therapies. Biochips enhance research efficiency by enabling researchers to analyze multiple genes or proteins simultaneously, reducing the time and resources required for comprehensive cancer studies.

The demand for biochips is expected to grow in tandem with the expanding scope of cancer research and the increasing recognition of the value of proteomics and genomics in understanding the molecular intricacies of cancer. As precision medicine becomes more commonplace in oncology, biochips will continue to play a pivotal role in advancing our knowledge of cancer biology and improving patient outcomes through more targeted and effective treatments.


Download Free Sample Report

Key Market Challenges

High Chances of Biohacking and Privacy Concern

Biochips, tiny devices inserted into the hands, have revolutionized daily routines by expediting tasks. These cutting-edge chips offer a multitude of benefits, such as seamless access to homes, gyms, and offices, along with the convenience of storing emergency contacts, social media profiles, and e-tickets. Notably, Sweden has witnessed a surge in individuals opting to have these microchips implanted in their hands. However, scientists have raised concerns regarding potential data breaches and hacking vulnerabilities associated with biochips. These chips have the capability to track locations, monitor spending habits, and even record driving behaviors, making them susceptible to unauthorized access. Moreover, the presence of chips inside the body poses infection risks and raises questions about individual freedom. In response to these concerns, the United States has recently implemented regulations to prohibit the forced usage of biochips. It is anticipated that the market's revenue growth may face constraints due to the risks of biohacking and privacy concerns. The need for enhanced security measures and addressing privacy issues is crucial for the sustainable growth of this innovative industry.

High Cost and Lack of Awareness Regarding Biochips

The development of bio-chip technology is a highly cost-intensive process. It requires extensive research and development efforts, as well as skilled developers, which ultimately contributes to the high cost of the end-product. The biochip system itself consists of microscale probes that are carefully formatted on glass surfaces. These microscale samples require precise handling and scanning, which necessitates the use of automated robotic instruments. The complexity and specificity of the methodologies and tools required for implementing this technology also contribute to its high cost.

Due to these factors, the commercial use of biochips has been hindered, primarily due to the high price associated with their production and implementation. Furthermore, there is a lack of awareness regarding biochips, particularly in developing countries, which further limits the potential market revenue growth during the forecast period.

Key Market Trends

Increasing Adoption of Biochips For Detecting Allergies

Many individuals have encountered various types of allergies, such as food, pollen, and others, resulting in a range of symptoms including fever, skin reactions, vomiting, asthma, and diarrhea. To address these issues, the field of allergy testing has witnessed the emergence of a remarkable new technology known as allergy testing biochips. This technology is currently experiencing significant growth and involves the use of microarrays that contain different allergen components. By utilizing these biochips, healthcare professionals are able to investigate patient-specific sensitization patterns in a single measurement, thus enhancing the accuracy and efficiency of allergy diagnoses.

Furthermore, the potential of biochips in allergy research has prompted companies to invest in the development of new technologies. For example, in April 2021, Toray Industries made an announcement regarding the successful development of allergy testing biochips capable of detecting multiple allergen-specific immunoglobin E (IgE) antibodies from trace amounts of blood. This breakthrough innovation holds tremendous promise for improving the precision and effectiveness of allergy testing.

The increasing adoption of biochips for detecting and testing allergens is expected to be a major driver for revenue growth in the allergy testing market throughout the forecast period. As more healthcare providers and researchers recognize the advantages offered by this advanced technology, its widespread implementation will revolutionize the field of allergy diagnostics, leading to improved patient care and outcomes.

Growing Usage of Biochips in Diverse Areas

Biochip technologies are extensively utilized across a range of fields, including microbiology, DNA analysis, clinical pathology, pharmacology, proctology, and biochemistry, among others. Ongoing research endeavors will drive the adoption of biochip technologies, particularly in the healthcare industry, thus further expanding their usage in the mainstream market in the coming years. Biochip technology is also employed in sequence engineering, which is poised to boost the growth of the global biochip market and enhance the performance and scalability of biochip solutions. Manufacturers of biochips are focusing on innovating distinct aspects of their miniature laboratories that can effectively function with living organisms.

Biochips have emerged as a pivotal component in revolutionizing DNA sequencing technology. Moreover, they are likely to pave the way for advanced gene sequencing solutions. The integration of gene sequencing technology and biochips will address various biological tissues, enabling rare cell, single-cell, and red molecule analysis. Nevertheless, the continuous growth of biochip technology and its expanding throughput capacity are expected to broaden its applications, ranging from population-centric clinical studies to the detection of rare bacteria. Manufacturers are making substantial investments in biochips for single-cell analysis, which will contribute to the improvement of biochips and their versatile functions, consequently enhancing performance exponentially.

Segmental Insights

Type Insights

The global biochip market is categorized into various types, including DNA chip, lab-on-a-chip, protein chip, and others. Among these, lab-on-a-chip is projected to exhibit a rapid revenue growth rate during the forecast period. This can be attributed to the high demand for biochips in diverse applications such as proteomics, cell biology, molecular biology, chemistry, and others. Lab-on-chip devices offer multiple advantages, including cost efficiency, high parallelization, low volume reagents, high expandability, and high sensitivity. These factors are anticipated to drive the growth of the lab-on-chip segment. Moreover, lab-on-chip technology plays a crucial role in biomedical diagnostics and analytical chemistry. Additionally, the bimolecular operations performed in lab-on-chips enable ultra-fast virus and bacteria detection, making it highly valuable for molecular biology.

Application Insights

Based on application, the global biochip market is categorized into Drug Discovery & Development, Disease Diagnostics, Genomics, Proteomics, In-vitro diagnostics, and Others. The In-vitro diagnostics segment is projected to hold a significant revenue share over the forecast period, driven by the increasing demand for biochips in In-Vitro Diagnostics (IVD). This includes applications such as DNA analysis, lab-on-chip technology, protein microarrays, and other array applications. Biochips also find utility in other IVD solutions like toxio-genomics and High Throughput Screening. For example, in January 2022, researchers from the Universidad Politécnica de Madrid (UPM) and the Universidad Carlos III de Madrid (UC3M) developed a biochip that simplifies the manufacturing process of in-vitro skin and other multilayer tissues in a laboratory setting. The Genomics segment is expected to witness rapid revenue growth during the forecast period due to the increasing adoption of biochips in genomics research. Genomics is a technique used to study the structure and function of an organism's genome. The use of DNA microarrays and biochip technologies has generated vast amounts of data, enabling detailed analysis of the human genome and driving the demand for these chips in genomics research.


Download Free Sample Report

Regional Insights

North America dominates the market throughout the projection period, primarily due to the government's concerted efforts to boost R&D through tax incentives. This region is expected to maintain its industrial position, thanks to its high concentration of biotechnology businesses, academic and research organizations, and projected future technological advancements in Biochip applications. The Asia-Pacific regional market, on the other hand, is poised for tremendous growth, driven by China and India. Expanding access to new technologies, a sizable patient base, advancements in the healthcare system, and the increasing utilization of Biochip technology are key factors influencing the region's expansion. Mature businesses are delegating Biochip production to emerging economies, aiming to reduce overall costs.

Recent Developments

  • October 2022: MicrobioSeq (CD Genomics) unveiled the Phage Whole-Genome Sequencing service, facilitating biomarker discovery and the development of non-antibiotic treatment methods. CD Genomics utilizes cutting-edge next-generation sequencing and long-read sequencing technologies (primarily Illumina HiSeq, Nanopore, and PacBio SMRT sequencing) to offer comprehensive virus/phage sequencing services, enabling in-depth studies of structural genomics and comparative genomics.October 2022: Thermo Fisher Scientific Inc. enhanced its Applied Biosystems Chromosome Analysis Suite (ChAS) software through a strategic collaboration with Genoox, a community-driven genomic data company. ChAS users now have access to Genoox's cloud-based AI platform. With automated interpretation and reporting, ChAS with Franklin provides an intuitive and flexible workflow, ensuring instant access to consistent and reproducible cytogenetic analysis results.March 2022: Nutcracker Therapeutics secured $167 million in Series C financing to advance its RNA platform and expand its mRNA pipeline. Nutcracker is committed to the development of RNA therapeutics leveraging its biochip-based manufacturing platform. The company anticipates that the funding, led by ARCH Venture Partners, will enable the expansion of its mRNA treatment pipeline for cancer and further enhancement of its platform technology.

Key Market Players

  • Abbott Laboratories Inc.
  • Agilent Technologies Inc.
  • Bio-Rad Laboratories Inc.
  • Fluidigm Corporation
  • Thermo Fisher Scientific Inc.
  • PerkinElmer Inc.
  • Illumina Inc.
  • Phalanx Biotech Group Inc.
  • BioMerieux SA
  • Qiagen NV

 By Technology

By Type

By Application

By End User

By Region

  • Microarray
  • Microfluidics
  • DNA Chips
  • Lab-On-a-Chips
  • Protein Chips
  • Others
  • Drug Discovery & Development
  • Disease Diagnostics
  • Genomics
  • Proteomics
  • In-vitro diagnostics
  • Others
  • Hospitals & Diagnostics Centers
  • Academic & Research Institutes
  • Biotechnology & Pharmaceutical Companies
  • Others
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Biochip Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Biochip Market, By Technology:

o   Microarray

o   Microfluidics

  • Biochip Market, By Type:

o   DNA Chips

o   Lab-On-a-Chips

o   Protein Chips

o   Others

  • Biochip Market, By Application:

o   Drug Discovery & Development

o   Disease Diagnostics

o   Genomics

o   Proteomics

o   In-vitro diagnostics

o   Others

  • Biochip Market, By End User:

o   Hospitals & Diagnostics Centres

o   Academic & Research Institutes

o   Biotechnology & Pharmaceutical Companies

o   Others

  • Biochip Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Kuwait

§  Turkey

§  Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Biochip Market.

Available Customizations:

Global Biochip market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Biochip Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validations

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    Global Biochip Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Technology (Microarray v/s Microfluidics)

5.2.2.    By Type (DNA Chips, Lab-On-a-Chips, Protein Chips, Others)

5.2.3.    By Application (Drug Discovery & Development, Disease Diagnostics, Genomics, Proteomics, In-vitro diagnostics and Others)

5.2.4.    By End User (Hospitals & Diagnostics Centers, Academic & Research Institutes, Biotechnology & Pharmaceutical Companies, Others)

5.2.5.    By Region

5.2.6.    By Company (2022)

5.3.  Market Map

6.    North America Biochip Market Outlook

6.1.  Market Size & Forecast       

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Technology

6.2.2.    By Type

6.2.3.    By Application

6.2.4.    By End User

6.2.5.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Biochip Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Technology

6.3.1.2.2.           By Type

6.3.1.2.3.           By Application

6.3.1.2.4.           By End User

6.3.2.    Canada Biochip Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Technology

6.3.2.2.2.           By Type

6.3.2.2.3.           By Application

6.3.2.2.4.           By End User

6.3.3.    Mexico Biochip Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Technology

6.3.3.2.2.           By Type

6.3.3.2.3.           By Application

6.3.3.2.4.           By End User

7.    Europe Biochip Market Outlook

7.1.  Market Size & Forecast       

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Technology

7.2.2.    By Type

7.2.3.    By Application

7.2.4.    By End User

7.2.5.    By Country

7.3.  Europe: Country Analysis

7.3.1.    Germany Biochip Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Technology

7.3.1.2.2.           By Type

7.3.1.2.3.           By Application

7.3.1.2.4.           By End User

7.3.2.    United Kingdom Biochip Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Technology

7.3.2.2.2.           By Type

7.3.2.2.3.           By Application

7.3.2.2.4.           By End User

7.3.3.    Italy Biochip Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value

7.3.3.2.        Market Share & Forecasty

7.3.3.2.1.           By Technology

7.3.3.2.2.           By Type

7.3.3.2.3.           By Application

7.3.3.2.4.           By End User

7.3.4.    France Biochip Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Technology

7.3.4.2.2.           By Type

7.3.4.2.3.           By Application

7.3.4.2.4.           By End User

7.3.5.    Spain Biochip Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Technology

7.3.5.2.2.           By Type

7.3.5.2.3.           By Application

7.3.5.2.4.           By End User

8.    Asia-Pacific Biochip Market Outlook

8.1.  Market Size & Forecast       

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Technology

8.2.2.    By Type

8.2.3.    By Application

8.2.4.    By End User

8.2.5.    By Country

8.3.  Asia-Pacific: Country Analysis

8.3.1.    China Biochip Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Technology

8.3.1.2.2.           By Type

8.3.1.2.3.           By Application

8.3.1.2.4.           By End User

8.3.2.    India Biochip Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Technology

8.3.2.2.2.           By Type

8.3.2.2.3.           By Application

8.3.2.2.4.           By End User

8.3.3.    Japan Biochip Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Technology

8.3.3.2.2.           By Type

8.3.3.2.3.           By Application

8.3.3.2.4.           By End User

8.3.4.    South Korea Biochip Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Technology

8.3.4.2.2.           By Type

8.3.4.2.3.           By Application

8.3.4.2.4.           By End User

8.3.5.    Australia Biochip Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Technology

8.3.5.2.2.           By Type

8.3.5.2.3.           By Application

8.3.5.2.4.           By End User

9.    South America Biochip Market Outlook

9.1.  Market Size & Forecast       

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Technology

9.2.2.    By Type

9.2.3.    By Application

9.2.4.    By End User

9.2.5.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Biochip Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Technology

9.3.1.2.2.           By Type

9.3.1.2.3.           By Application

9.3.1.2.4.           By End User

9.3.2.    Argentina Biochip Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Technology

9.3.2.2.2.           By Type

9.3.2.2.3.           By Application

9.3.2.2.4.           By End User

9.3.3.    Colombia Biochip Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Technology

9.3.3.2.2.           By Type

9.3.3.2.3.           By Application

9.3.3.2.4.           By End User

10. Middle East and Africa Biochip Market Outlook

10.1.             Market Size & Forecast        

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Technology

10.2.2. By Type

10.2.3. By Application

10.2.4. By End User

10.2.5. By Country

10.3.             MEA: Country Analysis

10.3.1. South Africa Biochip Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Technology

10.3.1.2.2.         By Type

10.3.1.2.3.         By Application

10.3.1.2.4.         By End User

10.3.2. Saudi Arabia Biochip Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Technology

10.3.2.2.2.         By Type

10.3.2.2.3.         By Application

10.3.2.2.4.         By End User

10.3.3. UAE Biochip Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Technology

10.3.3.2.2.         By Type

10.3.3.2.3.         By Application

10.3.3.2.4.         By End User

11. Market Dynamics

11.1.             Drivers

11.2.             Challenges

12. Market Trends & Developments

12.1.             Recent Development

12.2.             Mergers & Acquisitions

12.3.             Products Launches

13. Global Biochip Market: SWOT Analysis

14. Porter’s Five Forces Analysis

14.1.             Competition in the Industry

14.2.             Potential of New Entrants

14.3.             Power of Suppliers

14.4.             Power of Customers

14.5.             Threat of Substitute Products

15. Competitive Landscape

15.1.             Business Overview

15.2.             Service Offerings

15.3.             Recent Developments

15.4.             Key Personnel

15.5.             SWOT Analysis

15.5.1. Abbott Laboratories Inc.

15.5.2. Agilent Technologies Inc.

15.5.3. Bio-Rad Laboratories Inc.

15.5.4. Fluidigm Corporation

15.5.5. Thermo Fisher Scientific Inc.

15.5.6. PerkinElmer Inc.

15.5.7. Illumina Inc.

15.5.8. Phalanx Biotech Group Inc.

15.5.9. BioMerieux SA

15.5.10.              Qiagen NV

16. Strategic Recommendations

About Us & Disclaimer

Figures and Tables

Frequently asked questions

down-arrow

The market size of the Global Biochip Market was estimated to be USD 14.96 Billion in 2022.

down-arrow

The lab-on-a-chip category dominates the revenue of the Biochips market, primarily due to its diverse types. These lab-on-chips offer efficient virus and pathogen detection technologies, making them particularly valuable in molecular biology. This trend is driven by the increasing adoption of VR gear, such as virtual reality headsets, screens, and hand-tracking devices, by customers and end-user enterprises.

down-arrow

North America dominates the biochips market due to several factors. The region has a large number of aging population, creating a significant demand for healthcare and diagnostic solutions. The broad technical applications of biochips, such as genomics, proteomics, and molecular diagnostics, contribute to their widespread adoption in various industries. The growth of the biochips market will be driven by their expanding use in drug discovery and epidemiological research. The continuous advancements in biochip technologies will further propel the market's growth and facilitate innovative solutions in the field of life sciences and healthcare.

down-arrow

Growing need for high-speed diagnostics and increasing adoption of biochips for cancer treatment are the major drivers for the Global Biochip Market.

profile

Sakshi Bajaal

Business Consultant
Press Release

Biochip Market to Grow with a CAGR of 14.09% through 2028

Sep, 2023

Increase in number of biochip applications and high adoption of personalized medication is expected to drive the Global Biochip Market growth in the forecast period, 2024-2028.