At a CAGR of 11.2% | Biochips Market with Insights on the Key Factors and Trends Impacting the Growth by 2027

According to the report published by Allied Market Research, The global Biochips Market size stood at USD 9.04 billion in 2017 and is projected to reach USD 14.55 billion by 2027, exhibiting a CAGR of 11.2% from 2018 to 2025. The report presents a detailed analysis of the driving factors & opportunities, top-winning strategies, business performance of key players, top investment pockets, and competitive landscape.

Increased adoption of biochip in drug discovery, proteomics, and genomics and rise in utilization of personalized medicines in cancer diagnostics are expected to boost the growth of the global biochip market.

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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.

Key Players of Global biochips market Report-

• Abbott Laboratories
• PerkinElmer Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• Thermo Fisher Scientific, Inc.
• Agilent Technologies Inc.
• Fluidigm Corporation
• GE Healthcare
• Cepheid Inc.
• 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.

Global biochip market Segmentation: -

By Product
• DNA Chip
• Protein Chip
• Lab-on-a-chip
• Others

By Application
• Drug Discovery & Development
• Disease Diagnostics
• Genomics
• Proteomics
• Agriculture
• Other applications

By End User
• Biotechnology and Pharmaceutical Companies
• Hospitals & Diagnostics Centers
• Academic & Research Institutes
• Other end users

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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By Region Outlook

• North America
(U.S., Canada, Mexico)

• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)

• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)

• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

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.

Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2031?
• How big is the global & regional market in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• Which region has more opportunities?

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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