Published on : Apr 08, 2016
The global biochips market has witnessed a remarkable rise in the last few years. The growing investment to increase research and development activities in drug discovery and development and the rise in automated procedures in the healthcare industry have been fueling the demand for biochips across the world significantly.
Emerging Economies in Asia Pacific Present Huge Potential for Biochips Market Players
North America has been dominating the global market for biochips and has been closely followed by Asia Pacific. Emerging economies in Asia Pacific and the Rest of the World have provided a huge scope and untapped opportunities to market players. China, Australia, India, Japan, Brazil, the UAE, and South Africa are the major domestic biochips markets in these regions.
The rising investment to increase research and development activities in the field of biochips technology, together with the rising demand for advanced diagnostics applications and automated processes, are likely to enhance the Asia Pacific biochips market over the next few years.
DNA Chips Enjoy Maximum Demand among All Types of Biochips
Protein chips, DNA chips, and microfluidic devices are the main types of biochips available in this market. The DNA chips segment led the overall market in 2014 with a share of approximately 40%. The rising application of biochips in drug discovery, genes expression profiling, toxicological research, DNA sequencing, alternative splicing detection, genetic engineering, and diagnosis of chronic diseases has fueled the demand for DNA chips in the recent times.
Drug discovery and development, proteomics, genomics, in-vitro diagnostics, are the major application areas of biochips. The increasing health issues, as well as the need for novel drugs for the treatment of various diseases, have fueled the demand for biochips in drug discovery and development. In 2014, around 30% of the total demand for biochips across the world was from the drug discovery and development segment.
Cepheid Inc., Agilent Technologies Inc., Fluidigm Corp., GE Healthcare Ltd., Illumina Inc., and Affymetrix Inc. are the key participants in the biochips market across the world.