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Biochip Market: Current Analysis and Forecast (2021-2027)

Region:Global

Author(s):

Product Code:UMHE21327

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Published on

July 2021

Total pages

293

Table of Content

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About the Report

About the Report

A biochip is a little miniaturized device that can perform multiple biochemical reactions at the same time in molecular laboratories. It can quickly screen a variety of biological analytes for varied of applications, including disease diagnosis and the detection of biological substances that are toxic to a system. It is designed based on microarray and microfluidic technologies, among which digital microfluid biochip is highly efficient, and has gained significant popularity in the biochemical field.

The adoption of biochips is increasing in various applications in genomics, proteomics, and drug discovery. The advancement of targeted and personalized medicines for the treatment of cancer is influencing the market growth. Other factors such as the rising number of biochips applications, technological advancement in biochips, and rise in healthcare spending facilities are leveling up the biochips market demand. For instance, between 2010 and 2019, health spending in the OECD averaged around 8.7% of GDP every year. In the same time span, however, healthcare spending in the United States increased from 16.3 percent to 17.0 percent of GDP. Moreover, rising funds by government and private organizations in the emerging nations are expected to provide better opportunities for the market.

However, The factors such as higher cost biochips and lack of knowledge about biochips are hampering the market growth. Moreover, a lack of awareness among the people about biochips technologies is primarily restricting biochips market growth. Based on type, the market is fragmented into DNA chips, lab-on-a-chip, proteins chips, and others. The DNA chips segment grabbed the major market share and contributed around 38.83% In 2020. Moreover, the market would reach to USD 9779.80 Mn by 2027 growing with a CAGR of 12.05% during 2021-2017 owing to the owing to high adoption of DNA chip products. However, lab-on-a-chip segment is anticipated to grow at a significant CAGR of 12.98% during the forecast period.

Based on the technology, the market is fragmented into microarray and microfluids. The microarray segment of Global Biochips dominated the market with around 61.16% market share. The segment generated the revenue of USD 6,878.61 Mn in 2020 and is expected to grow at a CAGR of 11.73% during the forthcoming years owing to its application in forensics and drug discovery.

Based on the application, the market is fragmented into drug discovery & development, disease diagnostics, genomics, proteomics, and others. The drug discovery & development segment of Global Biochips dominated the market with around 33.52% market share. The segment generated the revenue of USD 3,760.35 Mn in 2020 and is expected to grow at a CAGR of 11.91% during the forthcoming years. The demand of drug discovery and development is increasing owing to the to the increased research and development and the involvement of biotech companies.

Based on the end-user, the market is fragmented in hospitals & diagnostics centers, academics & research institutes, biotechnology & pharmaceuticals, and others. The hospitals & diagnostics centers segment grabbed the major market share and dominated the market. The segment generated the revenue of worth USD 4,580.11 Mn in 2020 and is expected to reach to USD 10,121.72 Mn by 2027. However, the academics & research institutes segment is expected to witness an exhibit growth during the forecast period.

For a better understanding of the market adoption of the Biochip market, the market is analyzed based on its worldwide penetration in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for Biochip and generated revenue of USD 3,826.38 Mn in 2020 owing to the advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, etc. However, the Asia-Pacific region would grow at the highest rate during the forecast period.

Some of the major players operating in the market Abbott Laboratories Inc., Agilent Technologies, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc, GE Healthcare Inc., Fluidigm Corporation, Illumina, Inc., F. Hoffmann-La Roche AG, and BioMerieux SA. Several M&A's along with partnerships have been undertaken by these players to develop In-Cabin Sensing Systems.

Global Biochip Market was valued at USD 11,247.45 million in 2020 and is projected to expand significantly with a CAGR of 12.13% from 2021-2027F. The Global Biochip Market is expected to witness a boost on account of increasing prevalence of chronic diseases and improvement in the healthcare infrastructure.

Products


Companies

Abbott Laboratories Inc., Agilent Technologies, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc, GE Healthcare Inc., Fluidigm Corporation, Illumina, Inc., F. Hoffmann-La Roche AG, and BioMerieux SA.

Table of Contents

Table of Contents

1 MARKET INTRODUCTION

1.1. Market Definitions

1.2. Objective of the Study

1.3. Limitation

1.4. Stake Holders

1.5. Currency Used in Report

1.6. Scope of the Global Biochip Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION

2.1. Research Methodology for the Global Biochip Market

2.1.1. Main Objective of the Global Biochip Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 BIOCHIP AMID COVID-19

6 GLOBAL BIOCHIP MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. DNA Chips

7.2. Lab-On-a-Chip

7.3. Proteins Chips

7.4. Others

8 MARKET INSIGHTS BY TECHNOLOGY

8.1. Microarrays

8.2. Microfluidics

9 MARKET INSIGHTS BY APPLICATION

9.1. Drug Discovery & Development

9.2. Disease Diagnostics

9.3. Genomics

9.4. Proteomics

9.5. Others

10 MARKET INSIGHTS BY END-USER

10.1. Hospitals & Diagnostics Centers

10.2. Academics & Research institutes

10.3. Biotechnology & Pharmaceuticals

10.4. Others

11 MARKET INSIGHTS BY REGION

11.1. NORTH AMERICA BIOCHIP MARKET

11.1.1. United States

11.1.2. Canada

11.1.3. Rest of North America

11.2. EUROPE BIOCHIP MARKET

11.2.1. United Kingdom

11.2.2. Germany

11.2.3. France

11.2.4. Italy

11.2.5. Spain

11.2.6. Rest of Europe

11.3. ASIA PACIFIC BIOCHIP MARKET

11.3.1. China

11.3.2. Japan

11.3.3. India

11.3.4. South Korea

11.3.5. Australia

11.3.6. Rest of Asia Pacific

11.4. REST OF WORLD BIOCHIP MARKET

12 GLOBAL BIOCHIP MARKET DYNAMICS

12.1. Market Drivers

12.2. Market Challenges

12.3. Impact Analysis

13 GLOBAL BIOCHIP MARKET OPPORTUNITIES

14 GLOBAL BIOCHIP MARKET TRENDS & INSIGHTS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis

16.2. Supply Side Analysis

16.2.1. Top Product Launches

16.2.2. Top Business Partnerships

16.2.3. Top Business Expansions, Investments and Divestitures

16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

18.1. Porter's Five Forces Analysis

18.1.1. Bargaining power of Supplier

18.1.2. Bargaining power of Buyer

18.1.3. Industry Rivalry

18.1.4. Availability of Substitute

18.1.5. Threat of new Entrants

19 COMPANY PROFILED

19.1. Abbott Laboratories Inc.

19.2. Agilent Technologies, Inc.

19.3. PerkinElmer Inc.

19.4. Thermo Fisher Scientific, Inc.

19.5. Bio-Rad Laboratories Inc

19.6. GE Healthcare Inc.

19.7. Fluidigm Corporation

19.8. Illumina, Inc.

19.9. F. Hoffmann-La Roche AG

19.10. BioMerieux SA

20 DISCLAIMER

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