As per the report, the size of the Biochips Market in the Middle East and Africa is valued at USD 0.90 billion in 2022 and estimated to be growing at a CAGR of 17.80%, to reach USD 2.03 billion by 2027 during the forecast period.
A biochip is an assembly of miniaturized test sites organized on a compact substrate, allowing many tests to be executed simultaneously to reach higher throughput and speed.
Usually, the surface area of a biochip is no bigger than a fingernail. But, like a computer chip that can accomplish millions of mathematical tasks in one second, a biochip can implement thousands of biological responses, such as decoding genes, in the duration of a few seconds.
The growth of the Middle East and Africa Biochips Market is mainly driven by an increased application in cancer study, surge in the utilization of personalized medicine, and increased commercial uses of biochips. However, factors such as the availability of substitute technologies, low commercial suitability due to higher costs, and standardization concerns are restraining the market's growth in this region.
The research report on the Middle East & Africa biochips market has been segmented and sub-segmented into the following categories.
By End User:
Based on the region, significant markets include UAE, South Africa, Israel, and Nigeria. However, one of the major restraining factors for the market in this region is the erratic medical regulatory environment compared to developed countries.
KEY MARKET PLAYERS:
Companies playing an active role in the Middle East & Africa 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.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2000
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: firstname.lastname@example.org