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.
According to the report published by Allied Market Research, The global Biochips Market size Valued at USD 9.04 billion in 2017 and is Anticipated to Garner USD 14.55 billion by 2027, exhibiting a CAGR of 11.2% from 2018 to 2025.
The report provides a detailed analysis of changing market dynamics, value chain, top segments, and competitive landscape. This report provides detailed information to assist market players, stakeholders, investors, and startups in determining strategies to continue growth and attain competitive edge in the market.
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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.
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.
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By Region Outlook
North America
• U.S.
• Canada
• Mexico
Europe
• UK
• Germany
• France
• Italy
• Russia
• Rest of Europe
Asia-Pacific
• China
• Japan
• India
• Australia
• Rest of Asia-Pacific
LAMEA
• Brazil
• UAE
• Turkey
• Saudi Arabia
• 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.
This comprehensive report will provide:
• Enhance your strategic decision making
• Assist with your research, presentations and business plans
• Show which emerging market opportunities to focus on
• Increase your industry knowledge
• Strengthen your analysis of competitors
• Provide risk analysis, helping you avoid the pitfalls other companies could make
• Keep you up-to-date with crucial market developments
• Allow you to develop informed growth strategies
• Build your technical insight
• Illustrate trends to exploit
• Ultimately, help you to maximize profitability for your company.
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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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