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%.
Dallas, TX -- (SBWIRE) -- 03/18/2014 -- The “Biochips Market (DNA Microarrays, Lab-on-Chip, Protein Microarrays, Tissue & Cell Arrays) Trends & Global Forecast (2010-2015)” analyzes the biochip market by types and applications and studies the major market drivers, restraints, opportunities, and market trends for biochip market in North America, Europe, Asia, and Rest of the World.
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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%. Biochips were developed and commercialized in the eighties. Since then, market has offered tremendous growth and hence seen an influx of players vying fiercely for a share of this market. The global biochips market is studied by the types and key applications.Major players in this market include Affymetrix, Inc. (U.S.), Illumnia, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Roche NimbleGen (U.S.), Sequenom Inc, (U.S.), Luminex Corporation (U.S.), Bio-Rad Laboratories (U.S.), Biacore Life Sciences by GE Healthcare (Sweden), EMD Millipore (U.S.), Life Technologies (U.S.), Perkin Elmer (U.S.), Caliper Life Sciences (U.S.), Fluidigm Corporation (U.S.), Cepheid (U.S.), Epoch Biosciences (U.S.), US Biomax (U.S.), Sigma Aldrich (U.S.), Biochain Institute, Inc. (U.S.), Origene (U.S.), Super BioChips (South Korea ), and IsuAbxis Co Ltd (Seoul, Korea).
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North America commanded the largest share; i.e. 42% of the overall biochip market at almost $1.1 billion in 2010. However, this share is likely to drop down to about 40% in 2015 as the DNA microarray market has reached maturity and growth is expected from the Asian economies, especially China, India, South Korea, and Singapore, where government funding and investments in biotechnology play major roles.
“New product launches” and “agreements and collaborations” are the two main strategies adopted by the players to stay competitive in this market. Increasing demand from the Asian countries has resulted in players, such as Affymetrix Inc. Illumina Inc., Fluidigm Corporation and SurModics, Inc. amongst others adopting various strategies for market expansion. Singapore now accounts for half the production of DNA Microarrays with two major giants having shifted their manufacturing bases to the country.
The major biochip players are moving east to take advantage of the growth opportunities. Singapore is the most preferred locations to set up manufacturing facilities for biotechnology and pharmaceutical companies considering its technical knowledge, resources, and infrastructure. Leading players in the biochip market such as Affymetrix Inc., Fluidigm, and Illumina had set up their manufacturing facilities in Singapore to take advantage of the growing demand and gain competitive edge with large number of regional players.
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