Biochip Market To Gain Demand Quickly Due To Increase In Adoption Of Next-Generation Sequencing Till 2024: Grand View Research, Inc.
Global biochips anticipated market to reach USD 25.84
billion by 2024, according to a new report by Grand View Research, Inc. Growing
adoption of personalized medicine and rapid technological advancements in the
biochips market along with high market demand from proteomic and genomic
applications is expected to drive market growth.
Anticipated
launch and commercialization of novel products for diagnosis and treatment
including laboratory- and non-laboratory-based research are expected to further
reinforce growth in demand. Improvements in accuracy, resolution, and preparation
procedures for the technology coupled with reduction in costs of associated
materials are expected to fuel growth over the forecast period.
Ongoing
developments related to further miniaturization of biochips are expected to
enhance their applicability and additional usage for genetic sequencing
methodologies, such as cancer genomics. Their usage is also expected to aid
reduction in the cost of genome profiling, which is a factor likely to drive
demand for the next step of genetic analysis, i.e., protein expression
analysis. Consequently, a growth in the number of such protein profiling
studies is expected to directly fuel demand for genomic and proteomic labeling
techniques through to 2024.
U.S.
biochip market, by type, 2013 - 2024 (USD Million)
Browse full
research report on Biochip Market: http://www.grandviewresearch.com/industry-analysis/biochips-market
Further key
findings from the report suggest:
- DNA chips form the largest revenue-generating
segment of the biochip applications. Major contribution to this share
comes from usage in cancer diagnostics/treatment and drug discovery
applications. DNA chips accounted for around a third of the global market
revenue in 2015. The other notable contributing segments to application of
biochips include gene expression, single nucleotide polymorphism
genotyping, genomic studies, and agricultural biotechnology.
- The market is expected to have a high potential
for growth as the technology has numerous applications to aid the
miniaturization of molecular biology and biochemical & chemical
assays. Over time, such miniaturization is expected to benefit medical
technologies in terms of cost and input requirements.
- DNA chips, lab-on-a-chip, protein chips, and
tissue & cell arrays find a number of uses in pharmaceutical &
biotechnology companies, academic & research institutes, hospitals
& diagnostic centers, and other end users like point-of-care settings,
forensic labs, blood banks, etc.
- North America was the largest
revenue-generating region and accounted for over 45%of total revenue in
2015. This can be attributed to by the presence of government initiatives
for personalized patient care coupled with the availability of a very
large installed base of genetic and proteomic profiling platforms across
the U.S. High market usage of next-gen sequencing techniques for molecular
diagnosis and treatment used with microfluidic techniques also add to the
large share. Furthermore, cancer analysis projects in a number of academic
and clinical research institutes are also responsible for the region’s
large share.
- Some key players operating in this industry
include Abbott Laboratories; PerkinElmer, Inc.; GE Healthcare; Illumina,
Inc.; Thermo Fisher Scientific, Inc.; Merck Millipore; Agilent
Technologies, Inc.; Sigma-Aldrich Corporation; Fluidigm Corporation; and
Bio-Rad Laboratories, Inc.
Browse more
reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/biotechnology
Grand View Research has segmented the Biochip market on the basis of
type, end use, region:
Biochip
Outlook, by Type (Revenue, USD Million, 2013 - 2024)
- DNA
chips, by application
- Cancer
diagnosis and treatment
- Gene
expression
- Single
Nucleotide Polymorphisms Genotyping
- Genomics.
- Drug
discovery
- Agricultural
biotechnology
- Others
- Lab-on-a-chip,
by application
- Genomics
- IVD
& POC
- Proteomics
- Drug
discovery
- Others
- Protein
chips, by application
- Proteomics
- Expression
Profiling
- Diagnostics
- HTS
- Drug
Discovery
- Others
- Tissue
Arrays
- Cell
Arrays
Biochip
Outlook, by End Use (Revenue, USD Million, 2013 - 2024)
- Biotechnology
and Pharmaceutical Companies
- Hospitals
and Diagnostics Centers
- Academic
& Research Institutes
- Others
Biochip
Regional Outlook (Revenue, USD Million, 2013 - 2024)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- China
- Japan
- Latin
America
- Brazil
- MEA
- South
Africa
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-biochip-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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