Dublin, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The "Biochips - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Biochips Market to Reach $25.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Biochips estimated at US$15.9 Billion in the year 2022, is projected to reach a revised size of US$25.4 Billion by 2026, growing at a CAGR of 11.7% over the analysis period.
Biochip represents a solid substrate on which miniaturized test sites or microarrays are arranged. Biochip microarray technology is a testing platform where several experiments are performed at the same time to achieve rapid results and high throughput. Biochips (for example, lab-on-a-chip) thus serve as a mini laboratory where multiple analytes from a single sample are tested simultaneously.
DNA Chip, one of the segments analyzed in the report, is projected to grow at a 10.6% CAGR to reach US$9.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lab-On-a-chip segment is readjusted to a revised 12.3% CAGR for the next 7-year period. This segment currently accounts for a 30.6% share of the global Biochips market.
The U.S. Market is Estimated at $6.3 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026
The Biochips market in the U.S. is estimated at US$6.3 Billion in the year 2022. The country currently accounts for a 40.07% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 13.9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 10.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR while Rest of European market (as defined in the study) will reach US$2.8 Billion by the close of the analysis period.
One of the prominent factors driving growth for the market for biochips at the global level is the increasing chronic disorders prevalence, especially among the fast rising elderly population in countries across the world. Increasing cancer incidence has also augmented biochips usage for early identification of cancer cells.
Biochips are being increasingly used in the development of personalized and targeted drugs for treating various cancers. Increasing interest among consumers in maintaining healthy lifestyles has also been resulting in demand growth for the chips. The COVID-19 pandemic had also led many pharmaceutical and biotechnology companies to increase their focus on creating more advanced biochips capable of detecting coronavirus.
Biochips have been successfully employed by several companies for developing COVID-19 diagnostic tests. These lab-based tests score over traditional options owing to their ability to deliver faster results and allow users to process multiple specimens simultaneously.
Growing microfluidic technology advancements have also over the years led to development of engineered biochips for numerous laboratory procedures. There are also now digital microfluidic biochips. Another important factor driving growth for the market is the growing consumer interest in less invasive surgeries. Increasing nanotechnology upgradations also promote market growth.
Protein Chip Segment to Reach $5.5 Billion by 2026
Protein chip or protein array represents a high throughput technique to investigate protein function and monitor their expression level. They are utilized as a popular technology for basic R&D. Protein microarrays involve proteins on glass membranes, micro titer wells, mass spectrometer plates and beads, to which probes labeled with fluorescent dyes are added.
The fluorescent signal emitted by the probe-protein reaction can be read via a laser scanner and qualifies and quantifies the protein. Technological advancements in diagnostics, increasing prevalence of cancer and rising demand for personalized medicine, are all factors that boost the protein chip market.
In the global Protein Chip segment, USA, Canada, Japan, China and Europe will drive the 12.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.2 Billion will reach a projected size of US$5.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$516.1 Million Billion by the year 2026.
What`s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to the digital archives
- Complimentary updates for one year
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Biotechnology Sector Performance amid the Pandemic
- Biochip Firms Get Ready to Address COVID-19 Challenge
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Biochips: A Primer
- Manufacturing Systems Used in Biochip Manufacture
- Historical Perspective
- Classification of Biochips
- Application Markets
- Market Outlook
- Protein Biochips Set for Expansion
- Recent Technological Advancements Drive Wider Adoption of Biochips
- Competition
- Biotech Startups Pose Competition
- Recent Market Activity
- World Brands
2. FOCUS ON SELECT PLAYERS (Total 69 Featured)
- Agilent Technologies, Inc.
- Bio-Rad Laboratories, Inc.
- CapitalBio Technology Inc.
- Cepheid Inc.
- Fluidigm Corporation
- Hoffman-La-Roche Ltd.
- Illumina, Inc.
- OcimumBiosolutions Ltd.
- PerkinElmer, Inc.
- Takara Bio Inc.
- Takara Bio USA, Inc.
- Thermo Fisher Scientific Inc.
3. MARKET TRENDS & DRIVERS
- Biochips Seek Increasing Role in POC Testing
- Biochips to Help Next-Generation Sequencing Scale New Heights & Unravel Intimidating Biological Problems
- Research Forays into Organ-On-A-Chip (OOC)
- OCC Start-Ups Enter the Fray
- Select Organ-On-A-Chip Start-Ups & Their Specialties
- Biochip Implants Set to Make Big Gains
- Biochips Aid in Alleviating Issues Associated with Immunological Studies
- Challenges for Widespread Adoption
- Drug Discovery Applications to Drive Market
- Growing Preference for DNA/Protein Biochips in Personalized Medicine
- Microphysiological Systems to Take Personalized Medicine Much Farther
- Biochip Array Technology Enables Reliable and Accurate Investigation of Metabolic Syndrome
- Proteomics and Genomics Drive Opportunities for Biochips
- Increasing Application of Genomics and Proteomics in Cancer Diagnostics and Treatment to Drive Growth
- Potential Application of Biochips in Diabetes Diagnosis and Management Unfurl New Growth Opportunities
- World Diabetes Prevalence (2000-2019)
- Rise in Infectious Diseases and Need for High-Troughput Diagnosis Drive Interest in Biochips
- Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
- Agriculture Sector: Niche Vertical
- Development of Protein Microarrays for the Field of Diagnostics: Key Challenges
- Biochip Industry Thrives on Innovation
- Researchers at UCI Develop Machine Learning-Assisted Biochip
- New Biochip Combines Nanoparticle Printing and AI for Tumor Analysis
- Axbio Introduces Smartbiochip
- Multi-Dimensional Printing Technology Enables Development of New Biochip Printing Technique
- MIT Develops Neuromorphic Chip Capable of Mimicking Human Brain
- Biochips from AYOXXA: A Giant Leap in Protein Multiplexing
- Biochip Innovations in Drug Discovery Applications
- Industry Challenges
- Standardization: A Key Challenge
- High Costs Restrain Growth
- Precise Protein Detection: A Challenge
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/pflkhq
