According to the research report, the U.S. global biochip products and services market was valued at US$2.4 bn in 2011 and is expected to rise at a CAGR of 10.1% between 2012 and 2018 to reach a figure of US$4.7 bn by the end of 2018.
Albany, NY -- (SBWIRE) -- 06/13/2016 -- Biochips are small-sized laboratories that have the unique ability to perform several tests at one time. These miniature laboratories are made by putting together several microchips that operate in biological environments. These chips have allowed the medical and healthcare sector to understand the complexities of the living cells that make up a human body.
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The U.S. biochip products and services market is segmented on the basis of type and application. On the basis of type, this market is segmented into reagents and other consumables, microarrays, and other biochips products such as biochip instruments and software. Application-wise this market is segmented into life sciences research, drug delivery, in vitro diagnostic (IVD) testing, and other applications such as forensic medicine, diseases management, and defense.
Out of all the types of biochip products and services, the microarrays segment held a dominant position in the overall market in 2011. This stance was attributable to the rapid technological advancements in the field of microarrays. Additionally, the commercial application of biochips upon the successful completion of the Human Genome Project (HGP) has also provided a huge impetus to this segment. If the microarrays segment is to be dissected further, the DNA chips sub-segment is seen as the burgeoning one as the usage of gene expression continues to rise in the areas of epidemiological research and drug delivery.
The microarrays segment is also expected to witness a rapid rise due to increasing applications of microarrays in geneID, comparative genomic hybridization, cancer, and genetic disorder treatment amongst others. The increasing personalized solutions in the field of medicine are also expected to propel this segment in the U.S. biochips products and services market during the forecast period.
Some of the key players operating in the U.S. biochip products and services market are Affymetrix Inc., Agilent Technologies, Abbott Laboratories, Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Roche, and GE Healthcare among others. The report profiles these and assesses their financial overview, business and marketing strategies, research and development activities, and expansion plans to explain the competitive landscape of the U.S. biochip products and services market. Additionally, the report also states the regulatory framework, political scenario, and environmental challenges dictating the future of this market.
U.S. Biochip Products Market, by Type
Microarrays
Reagents and Other Consumables
Other Biochip Products (Biochip Instruments and Software)
U.S. Biochip Products and Services Market, by Application
Drug Delivery Market
Life Science Research Market
In Vitro Diagnostic (IVD) Testing Market
Other Applications (Disease Management, Forensic Medicine, Defense Application) Market
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