Biochip Products and Services Market - Up-to-Date Analyses of Market Trends and Technological Improvements

The U.S. biochip market, the largest regional segment of the global market for biochip products and services, held a share of close to 70% in the global market in 2011. It is expected to rise at an approximately 10% CAGR between 2012 and 2018, allowing the market to rise from a net worth of US$2.4 billion in 2011 to US$4.7 billion by 2018.

 

Albany, NY -- (SBWIRE) -- 03/31/2016 -- Biochips are a variety of microchips designed to function in a biological environment and are capable of measuring and detecting a large number of biomarkers and performing many biochemical reactions at the same time. The development of biochips is a huge achievement for the global biotechnology industry. Biochips are sometimes quoted as miniature laboratories. Capable of performing thousands of biochemical reactions simultaneously, these chips help unravel complex mysteries behind the innumerous biochemical processes taking place inside living cells.

The ability of biochips to reliably screen a large number of biological agents makes them useful for many purposes and in numerous fields of research. From disease diagnosis to detection of chemicals and bioterrorism agents used in biological warfare, biochips are foreseen to form a big part of a number of core research areas in the near future, providing a huge thrust to the overall biochip market across the globe.

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The report presents a systematic analysis of the U.S. biochip market. The report segments the overall U.S. biochip market into two major categories – biochip services and products.

The report analyzes the market and derives important forecasts based on primary and secondary research techniques and tools. The report, with its vast coverage of every important aspect of the U.S. biochip products and services market, proves to be a valuable asset for decision makers and strategy designers in the field of biochip technology.

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Overview of the U.S. Biochip Products and Services Market

The U.S. biochip market, the largest regional segment of the global market for biochip products and services, held a share of close to 70% in the global market in 2011. It is expected to rise at an approximately 10% CAGR between 2012 and 2018, allowing the market to rise from a net worth of US$2.4 billion in 2011 to US$4.7 billion by 2018.

Of the key biochip products in the U.S. market analyzed in the report, the segment of microarrays held the largest share of the market in 2011. This was chiefly owing to the enormous technical advancements observed in the field of microarrays and the rise in biochip applications since the successful finish of the Human Genome Project.

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The sub-segment of DNA chips held the largest share of the microarray segment owing to increased demand from the fields of drug delivery, epidemiological research, and gene expression profiling. However, in the future, the sub-segment of laboratory and protein chips is expected to observe the maximum growth owing to the widened set of capabilities and advanced products in the fields of drug delivery and diagnostic testing.

Based on key applications of biochips, the report segments the market into drug delivery, life science research, defense, disease, in vitro diagnostic (IVD) testing, and forensic medicine.

Factors such as the rising applications of proteomics and genomics in the field of cancer research, and heightened research activities in the fields of drug discovery, life sciences, and personalized medicines will provide enough thrust for swift growth of the market over the report's forecast period. However, certain factors such as high costs of biochips and availability of cheap alternatives such as mass spectrometry will hamper market's growth to certain extent.

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Major Players in the U.S. Biochip Products and Services Market

The report also presents a detailed competitive analysis of the U.S. biochip market. Profiles of leading businesses, including Illumina, Inc., Life Technologies Corporation, and Affymetrix, Inc. are analyzed in great detail. Profiles of other key businesses in the market are also studied based on a detailed overview of the company, recent developments, product portfolio, and business strategies.

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