Biochip Products Market (Product Type - DNA Chips, Protein Chips, Lab-on-a-Chip, Others (Cell Arrays & Tissue Arrays); Technology - Microfluidics, Microarray; Application - Genomics, Proteomics, Drug Discovery & Development, and In-Vitro Diagnostics): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. The global biochip products market is projected to grow at a CAGR of 17.05% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 05/13/2019 -- Our latest research report entitled Biochip Products Market (by product type (DNA chips, protein chips, lab-on-a-chip, (cell arrays & tissue arrays)), technology (microfluidics, and microarray), application (genomics, proteomics, drug discovery & development, and in-vitro diagnostics) provides complete and deep insights into the market dynamics and growth of biochip products. Latest information on market risks, industry chain structure biochip products cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential biochip products growth factors. According to the report, the global biochip products market is projected to grow at a CAGR of 17.05% over the forecast period of 2018-2024.
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Biochip Products Market: Insight
A Biochip is a small-scale device that is Collection of microarrays arranged on a solid substrate that allows many tests to be performed at the same time. The biochip is developed to enable large-scale genomic, proteomic and functional genomic analyses. A biochip comprises mainly three types such as DNA microarray, protein microarray, and microfluidic chip. A lab-on-a-chip (LOC) system is produced with the integration of microarray and microfluidic systems. The biochip is analogous to an integrated circuit that is constructed to analyze organic molecules associated with living organisms. Furthermore, advances of nanotechnology have continuously reduced the size of the biochip. Operations performed by biochip are faster and powerful and biochip can perform thousands of biological reactions in one second.
Biochip Products Market: Drivers and Restraints
Technological Advances of nanotechnology have continuously reduced the size of the biochip that is, in turn, reduced the manufacturing cost, and increased the high throughput capability that is helpful to drive the growth of biochip products market. Furthermore, increasing applications in drug discovery, proteomics, and genomics are boosting the growth of biochip products market. In addition, an incidence of Cancer has been increased so the development of targeted and personalized medicines for the treatment of cancer boosts the growth of biochip products. Moreover, increased government funding and R&D investment in biotechnology drive the growth of biochip products market. Significant growth in the healthcare expenditure across geographies fuels the growth of biochip products market. However, lack of awareness about biochip technology and Fabrication of biochips hampers the growth of biochip products market. Growing applications of biochip are providing a beneficial opportunity for biochip products market.
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Biochip Products Market: Regional Analysis
Among the geography, North America region dominated the biochip products market owing to investment in the pharmaceutical and biotechnology sector, coupled with the rising market demand for precision medicine. Growing adoption of the biochip and increasing prevalence of lifestyle diseases drives the growth of biochip products market in the North America region. Furthermore, the Asia-Pacific region is expected as the fastest growing region owing to Easy access to largest technologies and government initiatives. In addition, countries such as India, China, and Singapore are the most preferred locations for the manufacturing facilities of biochip products.
Biochip Products Market: Segmentation
The report on global biochip products market covers segments such as product type, technology, and application. On the basis of product type, the global biochip products market is categorized into DNA chips, protein chips, lab-on-a-chip, and others (cell arrays & tissue arrays). On the basis of technology, the global biochip products market is categorized into microfluidics and microarray. On the basis of application, the global biochip products market is categorized into genomics, proteomics, drug discovery & development, and in-vitro diagnostics.
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Biochip Products Market: Competitive Landscape
The report provides profiles of the companies in the global biochip products market such as Fluidigm Corporation, Life Technologies Corporation, Agilent Technologies, Inc., GE Healthcare, Thermo Fisher Scientific Inc, Roche Diagnostics, HORIBA, Ltd., QIAGEN, Illumina, Inc., and PerkinElmer, Inc.
- Technological Advances of Nanotechnology.
- Increasing Applications in Drug Discovery, Proteomics, and Genomics.
- Healthcare Expenditure Across Geographies.
- Lack of Awareness About Biochip Technology.
- Fabrication of Biochips.
- Growing Applications of Biochip.