According to the report, the Biochips Market size is estimated at a global level at USD 12.9 billion in 2020. This value is forecasted to be growing at a CAGR of 22.2% to reach USD 35.0 billion by 2025.
Biochips are increasingly being adopted in different applications in genomics, drug discovery, and proteomics in the current market scenario. Besides, the development of targeted and personalized medicines for cancer treatment and advances in biochip technology also supports the growth of biochip products.
MARKET DRIVERS:
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. An increase in cancer prevalence, immunological disorders, and viral infections is boosting the market growth.
Other factors such as the rising number of biochips applications, technological advancement in biochips, and improving infrastructure facilities are leveling up the biochips market demand. Moreover, rising funds by government and private organizations in the emerging nations are expected to provide better opportunities for the market players. Escalating healthcare expenditure and growing awareness over the benefits of early diagnosis are likely to fuel the growth rate of the market.
Additionally, aspects such as growing cancer prevalence, rising incidence of viral infections and immunological disorders, increasing geriatric population, rapidly increasing biochip applications, and increasing acceptance of personalized medicine may serve as significant global biochip market growth drivers. Technological advances and high investment in R&D would act as an opportunity for biochips market players.
MARKET RESTRAINTS:
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.
Impact of covid-19 on the global biochips market:
COVID 19 pandemic is a boom for the growth of the biochips market. Biochips have relevance in detecting the COVID 19. This factor has led to market shares during the outbreak. Market players focus on launching various products using biochips technology, which helped the healthcare providers in these tough times. Also, with the surging cases of the COVID 19, there is a high prevalence to develop a vaccine where the researchers need to study the effects of coronavirus on the human body. Biochips play a major role in enabling the assessment of patient response, including antibody response, which helps the researchers understand the sequences in developing a vaccine.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
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Segments Analysed |
By Type, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global biochips market has been segmented and sub-segmented based on the type, end-user, and region.
Biochips Market – By Type:
Based on type, DNA Chips are the largest segment, followed by lab-on-chips and protein biochips market, due to development in the proteomics and genomics field. However, enhancement in the area of recombinant proteins would assist the growth of the protein biochips market.
Biochips Market – By End User:
Based on end-user, the Hospitals and Diagnostics Centre segment dominates the market, as it is primarily driven by various factors such as increasing government funding and technological advancements.
Biochips Market – By Region:
Regionally, the most significant chunk of this market is North America, followed by Europe. Variables such as an aging population and a growing prevalence of lifestyle diseases and cardiac abnormalities are vital factors for the growth of the biochip market in North America.
On the other hand, throughout the forecast period, the Asia Pacific market is expected to expand at the highest CAGR. Rapid growth in the life sciences sector in China and India, an increase in biotechnology and pharmaceutical research, and low infrastructure costs are among the key factors driving growth in the Asian biochip market.
KEY MARKET PLAYERS:
Companies leading the global biochips market profiled in the report are Agilent Technologies Inc., Fluidigm Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., GE Healthcare, Cepheid Inc., Illumina Inc., and Thermo Fisher Scientific Inc.
RECENT HAPPENINGS IN THIS MARKET:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Type
5.1.1 Introduction
5.1.2 DNA Chips
5.1.3 Lab-On-A-Chip
5.1.4 Protein Chips
5.1.5 Other types
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2 End User
5.2.1 Introduction
5.2.2 Hospitals and Diagnostics Centers
5.2.3 Biotechnology and Pharmaceutical Companies
5.2.4 Academic & Research Institutes
5.2.5 Y-o-Y Growth Analysis, By End User
5.2.6 Market Attractiveness Analysis, By End User
5.2.7 Market Share Analysis, By End User
5.3 Fabrication Technology
5.3.1 Introduction
5.3.2 Microfluidics
5.3.3 Microarrays
5.3.4 Y-o-Y Growth Analysis, By Fabrication Technology
5.3.5 Market Attractiveness Analysis, By Fabrication Technology
5.3.6 Market Share Analysis, By Fabrication Technology
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.4 Market Attractiveness Analysis
6.1.5 Market Share Analysis
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Athersys
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 StemCells
8.3 Cryo Cell International
8.4 Geron Corporation
8.5 Mesoblast
8.6 Aastrom Biosciences
8.7 Celgene Corporation
8.8 Invitrogen
8.9 Cytori Therapeutics
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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