Global Biochips Market Expected to Reach USD 23.29 Billion by 2026

11-Mar-2020 | Facts and Factors

Findings from Facts and Factors report “Biochips Market By Product (Protein Chip, Lab-on-a-chip, DNA Chip, and Others), Application (Drug Development & Discovery, Disease Diagnostics, Agriculture, Genomics, Proteomics, and Others), and End User (Diagnostics, Centers, Hospitals, Research & Academic Institutes, Pharmaceutical & Biotechnology Companies, and Others)and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global biochips market in 2019 was approximately USD 11.02 Billion. The market is expected to grow at a CAGR of 11.28%and is anticipated to reach around USD 23.29 Billion by 2026.

Biochip implant system is a fairly simple tool. Biochip implant in today's world is a small (micro) computer chip, which is implanted under the skin for identification purposes. This system is nothing but radio frequency identification system. Biochip technology uses low-frequency radio signals in order to communicate between biochip and reader.

Browse the full “Biochips Market By Product (Protein Chip, Lab-on-a-chip, DNA Chip, and Others), Application (Drug Development & Discovery, Disease Diagnostics, Agriculture, Genomics, Proteomics, and Others), and End User (Diagnostics, Centers, Hospitals, Research & Academic Institutes, Pharmaceutical & Biotechnology Companies, and Others)and Regions: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/biochips-market-by-product-protein-chip-lab-on-695

Growing adoption of personalized medicine among individuals across the globe is a major factor driving the growth of the global biochips market. Additionally, increasing technological advancements in the field of healthcare along with rising applications of biochips in various end-use sectors are expected to propel the growth of the global market in the near future. However, high costs associated with the instruments along with stringent regulations associated with it are hampering the growth of the global market, currently. 

The global biochips market has been segmented on the basis of application, product type, and end-user. Based upon the application segment the global market can be bifurcated as drug development & discovery, disease diagnostics, agriculture, genomics, proteomics, and others. The drug development & discovery application segment is expected to account for the largest market share in terms of revenue due to its multiple applications over the forecast period.

The product type segment is classified as protein chi, DNA chip, lab-on-a-chip, and others, however, the DNA chip product segment is projected to hold the largest share in the near future due to the growing use of DNA chip products across the globe. On the basis of the end-user segment, the global market is divided into pharmaceutical & biotechnology companies, hospitals, research & academic institutes, diagnostics centers, and other end-users. Among which pharmaceutical &biotechnology companies segment is expected to hold the largest revenue share during the forecasted year in the biochips industry.

Based upon the region the global biochips market has been classified as North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa. North America is anticipated to dominate in the global biochips market in terms of revenue as compared to that of markets in other regions during the forecast period 2019-2026. This is attributed to the increased adoption rate of advanced technology in the countries especially in the U.S. of this region. Also, the market in the Asia Pacific is expected to grow at a considerable CAGR, owing to the presence of key operating players in the countries of the region. Latin America biochips market is expected to grow at a moderate pace in the coming years.

Report Scope

Key players operating in the biochips market not restricted to include PerkinElmer, QIAGEN N.V., Thermo Fisher Scientific Inc., Randox Laboratories Ltd., Bio-Rad Laboratories, Illumina, Inc., F. Hoffmann-La Roche AG, HORIBA, Ltd., bioMérieux SA, Fluidigm Corporation, others. Companies in the global biochips market are focusing on organic and inorganic business strategies such as partnerships, launches of advanced products to achieve revenue contribution in the global market. 

This report segments the biochips market as follows:

Global Biochips Market: By Product Segmentation Analysis

• Lab-on-a-chip
• Protein Chip
• DNA Chip
• Others

Global Biochips Market: By ApplicationSegmentation Analysis

• Disease Diagnostics
• Drug Development & Discovery
• Proteomics
• Agriculture
• Genomics
• Others

Global Biochips Market: By End User Segmentation Analysis

• Hospitals
• Diagnostics Centres
• Pharmaceutical & Biotechnology Companies
• Research & Academic Institutes
• Others

Global Biochips Market: Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • Germany
  • The UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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