Biochips Market Analysis By Top Key Players include bioMérieux SA, Bio-Rad Laboratories, Inc., Fluidigm Corporation, F. Hoffmann-La Roche AG, HORIBA, Ltd., Illumina, Inc., PerkinElmer, Inc., QIAGEN N.V., Randox Laboratories Ltd., and Others
Technological advancements in the sector and increased utilization in personalized medicines, cancer diagnostics, and treatment drive the growth of the global biochip market. However, high cost of R&D activities related to biochips hampers the market growth. On the other hand, improving the feasibility of biochips in drug discovery, proteomics, and genomics offers lucrative opportunities to the market players in future.
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DNA chips segment to dominate the market
In 2017, the DNA chips segment dominated the market in terms of revenue, contributing more than one-third share, as they are cost effective and have widespread availability. However, the protein chips segment is expected to manifest the fastest CAGR of 12.9% by 2025, owing to the recent technological advancements. In addition, the lab-on-a-chip segment is expected to portray gradual growth during the forecast period.
Major application areas of the industry
The report analyzed key application areas including drug discovery & development, disease diagnostics, genomics, proteomics, agriculture, and others. In 2017, drug discovery & development segment accounted about 30% share of the total market, as biochips are widely used to identify the active ingredients of drugs. However, disease diagnostics segment is estimated to grow at the fastest CAGR of 12.2% through 2025, owing to the surge in use of biochips for detection of cancer and other immunological disorders.
Biotechnology & pharmaceutical companies segment to dominate the industry by 2025
Biotechnology & pharmaceutical companies segment contributed about two-thirds share of the total market, owing to high investment required for the development of a variety of biochip products. However, academic & research institutes segment is expected to register the fastest CAGR of 13.5% from 2018 to 2025, owing to the development of portable and user-friendly biochips, which can be used for academic purposes. In addition, the hospitals and diagnostics centers segment would show gradual growth during the study period.
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Asia-Pacific region to portray fastest growth by 2025
In 2017, Asia-Pacific region garnered about $2.02 billion and is expected to register the fastest CAGR of 12.4% during the forecast period owing to various factors such as rapidly changing healthcare infrastructure in developing economies including India and China. However, in 2017, North America was the largest revenue contributor to the global biochip market, accounting for about 41% share, owing to rise in adoption of advanced biochips and high competitor interest in the under-penetrated market.
Major market players
The key companies analyzed in the report include Abbott Laboratories, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Thermo Fisher Scientific, Inc., Agilent Technologies Inc., Fluidigm Corporation, GE Healthcare, Cepheid Inc., and F. Hoffmann-La Roche AG. In addition, the report highlights key market strategies, such as partnerships, collaboration, mergers & acquisition, and new product launch, which have been adopted by these market players to sustain the intense competition in the industry.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. Report Description
1.2. Key Benefits for Stakeholders
1.3. Key Market Segments
1.3.1. List of key players profiled in the report
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
Chapter: 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Top player positioning, 2017 (%)
3.4. Market dynamics
22.214.171.124. Increase in the incidence life threatening disorders
126.96.36.199. Rise in geriatric population
188.8.131.52. High demand of personalized medicines
184.108.40.206. Large number of biochips applications
220.127.116.11. High cost of biochips
18.104.22.168. Lack of awareness in developing countries
22.214.171.124. Untapped market opportunities in the developing regions
3.4.4. Impact analyses....
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