IMARC Group, a leading market research company, has recently releases report titled “Biochips Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global biochips market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the biochips market?
The global biochips market size reached US$ 16.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 40.6 Billion by 2028, exhibiting a growth rate (CAGR) of 15.8% during 2023-2028.
What are biochips?
Biochips are miniature versions of a laboratory designed for functioning in a biological environment, especially inside living organisms. They contain millions of sensor elements or biosensors that act as microreactors to detect a particular analyte like a protein, DNA, enzyme, or antibody. They can perform thousands of biological reactions in a few seconds for drug discovery, single nucleotide polymorphism genotyping, in-vitro diagnostics, gene expression profiling and agricultural biotechnology.
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What are the growth prospects and trends in the biochips industry?
The global biochips market is primarily driven by growing investments in the healthcare sector. The onset of the coronavirus disease (COVID-19) pandemic has encouraged several biotechnology and pharmaceutical companies to develop biochips for detecting viral infections and immunological disorders in the human body. Besides this, these chips are widely used in the medical industry to detect cancerous cells in the body and for forming targeted and personalized medicines for cancer treatment. Moreover, several advancements and upgradation in nanotechnology and extensive research and development (RD) activities that results in the emergence of digital microfluidic biochips are also providing a positive thrust to the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- DNA Chip
- Protein Chip
- Enzyme Chip
Breakup by Fabrication Technique:
Breakup by Analysis Method:
- Mass Spectrometry
- Electrical Signals
Breakup by Application:
- Molecular Analysis
- Gene Diagnosis
- Non-Biological Usage
Breakup by End User:
- Pharmaceutical and Biotechnology Companies
- Hospitals and Diagnostics Centers
- Academic Research Institutes
Breakup by Region:
- North America (U.S. Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Agilent Technologies, Inc.
- bioMérieux SA
- Bio-RAD Laboratories, Inc.
- CapitalBio Corporation
- Dynamic Biosensors GmbH
- EMD Millipore Corporation
- Fluidigm Corporation
- Illumina, Inc.
- Perkinelmer, Inc.
- Thermo Fisher Scientific Inc
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