Biochip Market Analysis by Application and Trend 2017-2021
Biochip technology has been widely used in genetic engineering and analysis. These chips have DNA strands attached to the surface, and can detect samples with extremely small concentration. Genetic biochips or genechips have accelerated genome sequencing and are now being incorporated in devices for easy and rapid analysis. Scientists have developed biochip transponder which is placed under the skin to provide unique identification. Integration of biochip technology with genetic and protein research has facilitated rapid and accurate analysis. Application of microarray and microfluidic technology in veterinary diagnosis has increased considerably in the recent past. Biochips in animal health are used in disease diagnosis and genotyping.
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Increasing understanding of biomarkers and genetic makeup and their role in disease diagnosis and progression is expected to increase application of biochips in routine diagnosis. Majority of the overall biochips market is dominated by North America, Europe and Asia Pacific geographies. It is expected that more number of biotechnology research institutes would emerge in the near future owing to increased government funding and acknowledgement of success in biopharmaceutical research through regulatory approvals and new policy amendments.
From the clinical point-of-view, there is huge demand for rapid diagnosis and targeted therapy. Economic burden for diseases such as cancer, diabetes, cardiovascular and neurological diseases is increasing rapidly across the globe. National Cancer Institute, U.S. estimates over 1.68 million new cancer cases diagnosed in the U.S. in 2016. In U.K. 0.35 million new cancer cases were recorded as per Cancer Research U.K, while globally more than 8 million patients die due to cancer. According to World Health Organization (WHO) over 422 million individuals were recorded having diabetes in 2014 globally. Research also estimates that the prevalence of these chronic diseases is expected to rise in the coming years, which would provide necessary leverage for the biochip market growth.
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ProtoArray human protein microarray by Thermo Fisher Scientific consists of over 9,000 unique human proteins and enables biomarker identification with concentration as low as 10 ?L. These systems also help in mapping protein-protein interaction for providing more insights to complex biochemical pathways. Other key players in the global biochip market are Agilent Technologies, Inc., Bio-Rad laboratories, Inc., PerkinElmer Inc., Randox Laboratories, Illumina, Inc., Thermo Fisher Scientific, Inc., Oxford Nanopore, VHLGenetics, Median Diagnostic, Inc. and others.
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