Biochip Market to Gain From Enhanced R&D Activities and Technological Innovations From 2013 to 2024: Million Insights

FELTON , California, August 29, 2017 /PRNewswire/ --

Global biochips market size was valued at USD 7.63 billion in 2015. With potential applications of genomics and proteomics in biotech R&D, along with rapid technological innovation and increase in adoption of personalized medicines, it is expected that this market will witness considerable growth in revnue over the forecast period.

For biochip technology, in order to enhance its usability, there is an improvement in resolution, preparation procedures and accuracy along with the reduction in the cost of the materials associated with manufacturing the biochips. These factors are expected to further reinforce growth potential. Anticipated commercialization and launch of novel treatments and diagnosis products including non-laboratory and laboratory research is expected to fuel growth over the forecast period.

Current developments aiming to miniaturize biochips even further can be anticipated to increase the additional usage and applicability for genetic sequencing methodologies, such as diabetes genomics. With the rise in usage of the biochip technology, it is anticipated that cost of genome profiling can reduce even further for studies such as protein expression analysis among others. Hence, proteomics and genomics labeling techniques along with other protein profiling techniques are expected to witness a growth in demand.

Browse 170 page research report with TOC on "Biochip Market Size & Forecast Report 2013 - 2024" at: https://www.millioninsights.com/industry-reports/biochip-market-size

DNA chips accounted for the largest share of revenue owing to the presence of a considerable number of applications. Cancer treatment/diagnostics has been observed to have major share for the usage of biochips. Other segments contributing for the applications of biochips include genotyping, agricultural biotechnology, genomic studies, single nucleotide polymorphism and gene expression.

Lab-on-a-chip, cell and tissue array, protein chips and DNA chips find applications in biotechnology & pharmaceutical companies, research & academic institutes, hospitals & diagnostics and point of care settings which involves end users. Protein biochips and LOACs have found widespread use for single nucleotide polymorphism genotyping, gene expression, in vitro diagnosis, expression profiling, drug discovery, high throughput screening and tissue arrays. The commercialization of the products in the development pipelines of key market participants is also key towards the potential to drive the growth for the market.

North-America accounted for the largest revenue share owing to the presence of government policies motivating personalized care for the patients and availability of proteomics and genetic profiling infrastructure across the country, especially in the U.S. There has also been a rise in the usage of NGS (Next Generation Sequencing) for molecular treatment and clinical diagnosis coupled with microfluidic techniques that add to the large market share.

Key players in the development & commercialization of biochips include PerkinElmer, Inc.; Abbott Laboratories; Bio-Rad Laboratories, Inc.; Fluidigm Corporation; Sigma-Aldrich Corporation; Agilent Technologies, Inc.; Thermo Fisher Scientific, Inc. and GE Healthcare. In order to establish themselves in the untapped market, companies are following various strategies including mergers & acquisitions, collaboration, vertical and horizontal integration in regions/countries where they can see potential growth.

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Market Segmentation: 

Biochip Outlook, by Type (Revenue, USD Million, 2013 - 2024)  

• DNA chips, by application
  - Cancer diagnosis and treatment
  - Gene expression
  - Single Nucleotide Polymorphisms Genotyping
  - Genomics
  - Drug discovery
  - Agricultural biotechnology
  - Others
• Lab-on-a-chip, by application
  - Genomics
  - IVD & POC
  - Proteomics
  - Drug discovery
  - Others
• Protein chips, by application
  - Proteomics
  - Expression Profiling
  - Diagnostics
  - HTS
  - Drug Discovery
  - 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
  - U.S.
  - Canada
• Europe
  - Germany
  - UK
• Asia Pacific
  - China
  - Japan
• Latin America
  - Brazil
• MEA
  - South Africa

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SOURCE Million Insights