The global biochips market size reached US$ 14.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 35.4 Billion by 2027, exhibiting a growth rate (CAGR) of 15.94% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Biochips refer to a miniaturized medical device that includes a wide collection of microarrays for performing multiple biochemical reactions simultaneously. They contain numerous biosensors that enable the screening of several biological analytes such as enzymes, proteins, DNA, biological molecules, antibodies, etc. Biochips are primarily used in drug discovery, in-vitro diagnostics, gene expression profiling, single nucleotide polymorphism genotyping, agricultural biotechnology, etc. As a result, they are widely adopted across various pharmaceutical and biotechnology companies, research and academic laboratories, and healthcare facilities.
The increasing prevalence of chronic disorders along with the rising geriatric population is currently driving the demand for biochips in the medical sector. In recent times, the growing incidences of cancer have also augmented the use of biochips for the early detection of cancerous cells in the body. In line with this, biochips are increasingly being adopted for developing targeted and personalized medicines for cancer treatment. Additionally, the growing consumer health concerns towards several viral infections and immunological disorders are also propelling the demand for biochips in new drug discovery and development activities. For instance, with the outbreak of the COVID-19 pandemic, several biotechnology and pharma companies are focusing on developing novel biochips for detecting the infection in the body. Moreover, rising advancements in microfluid technology have led to the introduction of specifically engineered biochips for various laboratory procedures. Furthermore, numerous R&D activities in the biotechnology sector have also led to the emergence of digital microfluidic biochips. The changing consumer inclination towards minimally invasive surgeries coupled with rising upgradations in nanotechnology are further driving the demand for biochips. Apart from this, the growing investments in the healthcare sector pertaining to cancer genomics, human proteome, and DNA-analysis are further anticipated to catalyze the global biochips market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biochips market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, fabrication technique, analysis method, application and end user.
Breakup by Product Type:
Breakup by Fabrication Technique:
Breakup by Analysis Method:
Breakup by Application:
Breakup by End User:
Pharmaceutical and Biotechnology Companies
Hospitals and Diagnostics Centers
Academic & Research Institutes
Breakup by Region:
Middle East and Africa
United Arab Emirates
The competitive landscape of the industry has also been examined with some of the key players being Agilent Technologies, Inc., bioM?rieux SA, Bio-RAD Laboratories, Inc., CapitalBio Corporation, Dynamic Biosensors GmbH, EMD Millipore Corporation, Fluidigm Corporation, Illumina, Inc., Perkinelmer, Inc., and Thermo Fisher Scientific Inc.
Key questions answered in this report:
How has the global biochips market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global biochips market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the fabrication technique?
What is the breakup of the market based on the analysis method?
What is the breakup of the market based on the application?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the global biochips market and who are the key players?
What is the degree of competition in the market?