A biochip is defined as a collection of miniaturized test sites (microarrays) arranged on a solid platform that allows multiple tests to be performed at the same time with increased efficiency and higher speed. The global biochip market is studied by the types and key applications. It was valued at $2.6 billion in 2010 and is expected to reach $5.6 billion by 2015; growing at a CAGR of 16.7%. This growth is attributed to increasing applications in cancer diagnostics and expression profiling, the boom in personalized medicine, and government funding.
DNA microarrays represent the largest segment of this market and will continue to be the largest contributor during the study period (2010-2015). However, this segment will be closely followed by lab-on-chip (LOC) in the coming years due to its wide applications and increased adoption by various biotechnology, pharmaceutical companies, and research laboratories. The third largest segment – protein microarrays will be the fastest growing segment; forecasted to grow at a CAGR of 19.9% during the study period due to advances in the fields of genomics and proteomics and improvements in the field of recombinant proteins.
Reverse phase protein microarrays designed for targeted therapies in cancer holds promise in the global biochip market in the next 5-10 years. These microarrays provide increased accuracy and enhanced efficacy for the detection of rare molecules as compared to existing microarray surfaces for cancer research & diagnosis to help understand the proteins in tumor cells. Thus, they have helped open the avenues for personalized methods for cancer therapy.
The market of Asia will account for a bulk of the future biochip market growth due to its high growth potential and huge demand from emerging economies such as India and China - the large pool of heterogeneous patient population, and increasing R&D investment in these countries. The top players in the biochip market such as Affymetrix, Inc., Illumina, Inc., and Fluidigm Corporation have relocated their manufacturing base to Singapore to take advantage of the benefits the country offers; coupled with rising demand from neighboring countries of Asia. The players also benefit from a well-established semiconductor manufacturing base including chip technologies. Singapore has made focused efforts to attract life sciences corporates with dedicated investments accounting for 3% of the country's GDP. It came up with its R&D center - Singapore's Biopolis R&D center in 2003-2004 and is home to the Genome Institute of Singapore.
Scope of the report
This research report categorizes the global biochips market on the basis of applications, types, and geography; forecasting revenues and analyzing trends in each of the following submarkets:
On the basis of applications:
On the basis of types:
On the basis of geography:
Each section will provide market data, market drivers, trends and opportunities, top-selling products, key players, and competitive outlook. It will also provide market tables for covering the sub-segments. In addition, the report will throw light on more than 20 company profiles covering all the sub-segments.