Global Biochips Market was valued US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of around 20.4% during a forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Global Biochips Market

Biochip is a miniaturized medical device used in molecular laboratories to carry out various biochemical reactions simultaneously. It can rapidly screen many biological analytes for an array of applications like disease diagnosis and detection of hazardous biological agents in a system. It is designed based on microarray and microfluidic technologies, among which digital micro-fluid biochip is highly efficient, and has increased significant popularity in the biochemical field.

The report covers all the trends and technologies playing a major role in the growth of the biochips market over the forecast period. It highlights the drivers, restraints, and opportunities expected to influence market growth during 2019-2026. The market for biochips is the increased government funding and R&D investments in the biotech industry.

Private organizations along with the governments of many economies have increasingly become aware of the several benefits of biotechnology. About this, all these bodies are highly involved in the investments in the biotechnology sector. Such as the event “BioAsia 2017” hosted by Telangana government (India) has raised an investment worth US$ XX Mn for developing the biotechnology techniques. Lack of proper knowledge about biochip technology is a prominent restraint lowering the market demand for biochip products.

The irregularities arriving in healthcare coverage around the world are also more expected to challenge the growth of biochips market globally. Variable cost and adoption of biochip technologies are likely to affect the personalization of medicine, eventually lowering the revenues of the market for biochips.

DNA chips segment accounted for the largest XX% share of revenue, as a result of high spending on research about genomics and next-generation sequencing along with growing demand for detection and diagnosis of genetic disorders. Progress in the development of protein microarrays coupled with emerging classes of tissue- and cell-based biochips for various applications are factors anticipated to drive demand for biochips.

North America dominates the market for biochips because of the large number of the ageing population and broad technical applications of biochips. The U.S demand for biochip products & services will grow nearly XX% annually through 2019. Growth will be led by uses in drug discovery and epidemiological research, with protein characterization and analysis provided that the expanding technologies.

The report gives a competitive analysis of the individual standing of the companies against the global landscape of the biochip industry. The forecast also provides the estimated trends in demand for the biochips market and their impact on the sizes of these companies to help the reader curate profitable business strategies.

In Sept 2015, Illumina, Inc. The company announced the acquisition of the GenoLogics Life Science Software, Inc. This acquisition is expected to provide and expand the company’s innovative and informatics solutions for life science organizations, so provide a revenue-generating growth to the market.




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