Biochips Market Analysis, Manufacturing Cost Structure, Growth Opportunities And Restraint To 2022

Published On:July 11, 2017, 9:53 am

Biochips are a set of microarrays those are staged on a solid substrate that alters various biochemical reactions like decrypting of genes in a couple of seconds. In other words, biochips are basically miniaturized labs that can carry out thousands of instantaneous biochemical reactions. Biochips facilitate researchers to promptly monitor huge numbers of biological analytes for a series of functions, from detection of bioterrorism agents to disease diagnosis. Few advantages of bio-microsystems are redundancy, integrated intelligence, complexity, low cost, speed, and parallelism.

Biochips are used in the range of applications such as development and molecular diagnostics, drug screening and research application in biotechnology such as genomics and proteomics. It also extends other analytical applications such as biosensors, microarray, and microfluidic technologies. The biochip is also used to examine organic molecules linked with living organisms. Biochip aids in gene sequences identification, environmental pollutants, airborne toxins, and other biochemical components. There are different types of biochips such as protein chips, lab-on-a-chip, and DNA chips. The biochip-based examination is mainly used in on-site diagnostics.

In 2015, the Global Biochips Sales Market was evaluated nearly USD 7.64billion. It is expected to reach whopping USD 17.75 billion by 2022. The compound annual growth rate is estimated to be tremendous 18.4% over the forecast period of 2017 to 2022.  Increasing use of biochips in the medical field for drug research, cancer diagnostics, and treatment, is the key factors fueling the growth of the global biochips sales market. Moreover, factors such as automation of biochemical processes and availability of molecular information, through the biochips and usage of biochips for protein and gene recognition are determined to propel the global biochips sales market. Considerable growth in the healthcare sector, growing requirements for diagnostics and escalating medical spending linked with economic reforms in key developing countries have boosted the growth of the global market and are anticipated to render vast opportunities to the biochips manufacturers. However, inadequate technical knowledge associated to biochips, low adoption due to higher cost and accessibility of optional technologies are factors that are hindering the growth of global biochip sales market.

The key market players for the global biochips sales market are Life Technologies Corporation, Illumina Inc., Abbott Laboratories Inc., Cepheid Inc., PerkinElmer Inc., Affymetric Inc., EMD Millipore., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Thermo Fisher Scientific, Inc., GE Healthcare Ltd., EMD Millipore, Fluidigm Corporation and Roche NimbleGen. By types the market is classified into; DNA chips, Lab-on-a-chip and Protein chips. According to applications, the market is split into; Drug screening and development, Biotechnology, Microfluidic technologies, Genomics and proteomics, Molecular diagnostics and Microarray and biosensors. Geographically, the global market is segmented into regions which are; Middle East, United States, Europe, Asia-pacific and rest of the world.

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