According to a new report published by Allied Market Research, titled, โBiochips Market: Global Opportunity Analysis and Industry Forecast, 2018-2025โ The global biochips market was valued at $9,037 million in 2017, and is projected to reach $21,419 million by 2025 at a CAGR of 11.2% from 2018 to 2025. Biochip is a miniaturized medical device used in molecular laboratories to carry out several biochemical reactions simultaneously. It can rapidly screen a number of biological analytes for an array of applications such as disease diagnosis and detection of hazardous biological agents in a system. It is designed on the basis of microarray and microfluidic technologies, among which digital microfluid biochip is highly efficient, and has gained significant popularity in the biochemical field.
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Increase in prevalence of cancer, immunological disorders, and viral infections majorly drives the growth of the global biochips market. Other factors that boost the market growth include rise in geriatric population, increase in number of biochip applications, and high adoption of personalized medications. However, factors such as high cost of biochip and lack of knowledge about it majorly in emerging nations hamper the market growth. Conversely, rise in R&D investment as well as government funding and high potential in untapped markets in emerging economies are expected to provide lucrative growth opportunities for the market.
North America, Europe, Asia-Pacific, and LAMEA. North America held the largest share of the market in 2017, followed by Europe. On the other hand, Asia-Pacific is anticipated to dominate the market during the analysis period, owing to presence of large population base, increase in disposable income, and improvement in patient awareness about biochips.
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- The study provides an in-depth analysis of the global biochips market along with current trends and future estimations from 2018 to 2025 to elucidate the imminent investment pockets.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Identification of factors instrumental in changing the market scenario, rise in opportunities, and identification of key companies that can influence this market on a global & regional scale are provided.
- Key players are profiled, and their strategies are analyzed thoroughly to understand the competitive outlook of the market.
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Comprehensive competitive analysis and profiles of major market players such as bioMรฉrieux 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 Thermo Fisher Scientific Inc.
๐๐ญ๐ก๐๐ซ ๐๐ซ๐๐ง๐๐ข๐ง๐ ๐๐๐ฉ๐จ๐ซ๐ญ๐ฌ:
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