The Infinium Global Research analyzes the Biochip Products Market over the period of 2018 to 2024. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global biochip products market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of biochip products. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the biochip products market during the period. The global biochip products market is projected to grow at a CAGR of 17.05% over the forecast period of 2018-2024.
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A Biochip is a small-scale device that is Collection of microarrays arranged on a solid substrate that allows many tests to be performed at the same time. The biochip is developed to enable large-scale genomic, proteomic and functional genomic analyses. A biochip comprises mainly three types such as DNA microarray, protein microarray, and microfluidic chip. A lab-on-a-chip (LOC) system is produced with the integration of microarray and microfluidic systems. The biochip is analogous to an integrated circuit that is constructed to analyze organic molecules associated with living organisms. Furthermore, advances of nanotechnology have continuously reduced the size of the biochip. Operations performed by biochip are faster and powerful and biochip can perform thousands of biological reactions in one second.
Increasing Applications in Drug Discovery, Proteomics, and Genomics are Boosting the Growth of Biochip Products Market
Technological Advances of nanotechnology have continuously reduced the size of the biochip that is, in turn, reduced the manufacturing cost, and increased the high throughput capability that is helpful to drive the growth of biochip products market. Furthermore, increasing applications in drug discovery, proteomics, and genomics are boosting the growth of biochip products market. In addition, an incidence of Cancer has been increased so the development of targeted and personalized medicines for the treatment of cancer boosts the growth of biochip products. Moreover, increased government funding and R&D investment in biotechnology drive the growth of biochip products market. Significant growth in the healthcare expenditure across geographies fuels the growth of biochip products market. However, lack of awareness about biochip technology and Fabrication of biochips hampers the growth of biochip products market. Growing applications of biochip are providing a beneficial opportunity for biochip products market.
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North America Region Dominated the Biochip Products Market
Among the geography, North America region dominated the biochip products market owing to investment in the pharmaceutical and biotechnology sector, coupled with the rising market demand for precision medicine. Growing adoption of the biochip and increasing prevalence of lifestyle diseases drives the growth of biochip products market in the North America region. Furthermore, the Asia-Pacific region is expected as the fastest-growing region owing to Easy access to the largest technologies and government initiatives. In addition, countries such as India, China, and Singapore are the most preferred locations for the manufacturing facilities of biochip products.
Biochip Products Market: Segmentation
The report on global biochip products market covers segments such as product type, technology, and application. On the basis of product type, the global biochip products market is categorized into DNA chips, protein chips, lab-on-a-chip, and others (cell arrays & tissue arrays). On the basis of technology, the global biochip products market is categorized into microfluidics, and microarray. On the basis of application, the global biochip products market is categorized into genomics, proteomics, drug discovery & development, and in-vitro diagnostics.
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Biochip Products Market: Competitive Landscape
The report provides profiles of the companies in the global biochip products market such as Fluidigm Corporation, Life Technologies Corporation, Agilent Technologies, Inc., GE Healthcare, Thermo Fisher Scientific Inc, Roche Diagnostics, HORIBA, Ltd., QIAGEN, Illumina, Inc., and PerkinElmer, Inc.
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the biochip products.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.