Biochip Market: Current Analysis and Forecast (2021- 2027)

Biochip Market: Current Analysis and Forecast (2021- 2027)

  • UnivDatos Market Insight
  • July 2021
  • Healthcare
  • 293 pages

Report Description

A biochip is a little miniaturized device that can perform multiple biochemical reactions at the same time in molecular laboratories. It can quickly screen a variety of biological analytes for varied of applications, including disease diagnosis and the detection of biological substances that are toxic to a system. It is designed based on microarray and microfluidic technologies, among which digital microfluid biochip is highly efficient, and has gained significant popularity in the biochemical field

The adoption of biochips is increasing in various applications in genomics, proteomics, and drug discovery. The advancement of targeted and personalized medicines for the treatment of cancer is influencing the market growth. Other factors such as the rising number of biochips applications, technological advancement in biochips, and rise in healthcare spending facilities are leveling up the biochips market demand. For instance, between 2010 and 2019, health spending in the OECD averaged around 8.7% of GDP every year. In the same time span, however, healthcare spending in the United States increased from 16.3 percent to 17.0 percent of GDP. Moreover, rising funds by government and private organizations in the emerging nations are expected to provide better opportunities for the market

However, The factors such as higher cost biochips and lack of knowledge about biochips are hampering the market growth. Moreover, a lack of awareness among the people about biochips technologies is primarily restricting biochips market growth.

Based on type, the market is fragmented into DNA chips, lab-on-a-chip, proteins chips, and others. The DNA chips segment grabbed the major market share and contributed around 38.83% In 2020. Moreover, the market would reach to USD 9779.80 Mn by 2027 growing with a CAGR of 12.05% during 2021-2017 owing to the owing to high adoption of DNA chip products. However, lab-on-a-chip segment is anticipated to grow at a significant CAGR of 12.98% during the forecast period

Based on the technology, the market is fragmented into microarray and microfluids. The microarray segment of Global Biochips dominated the market with around 61.16% market share. The segment generated the revenue of USD 6,878.61 Mn in 2020 and is expected to grow at a CAGR of 11.73% during the forthcoming years owing to its application in forensics and drug discovery

Based on the application, the market is fragmented into drug discovery & development, disease diagnostics, genomics, proteomics, and others. The drug discovery & development segment of Global Biochips dominated the market with around 33.52% market share. The segment generated the revenue of USD 3,760.35 Mn in 2020 and is expected to grow at a CAGR of 11.91% during the forthcoming years. The demand of drug discovery and development is increasing owing to the to the increased research and development and the involvement of biotech companies

Based on the end-user, the market is fragmented in hospitals & diagnostics centers, academics & research institutes, biotechnology & pharmaceuticals, and others. The hospitals & diagnostics centers segment grabbed the major market share and dominated the market. The segment generated the revenue of worth USD 4,580.11 Mn in 2020 and is expected to reach to USD 10,121.72 Mn by 2027. However, the academics & research institutes segment is expected to witness an exhibit growth during the forecast period

For a better understanding of the market adoption of the Biochip market, the market is analyzed based on its worldwide penetration in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for Biochip and generated revenue of USD 3,826.38 Mn in 2020 owing to the advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, etc. However, the Asia-Pacific region would grow at the highest rate during the forecast period

Some of the major players operating in the market Abbott Laboratories Inc., Agilent Technologies, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc, GE Healthcare Inc., Fluidigm Corporation, Illumina, Inc., F. Hoffmann-La Roche AG, and BioMerieux SA. Several M&A’s along with partnerships have been undertaken by these players to develop In-Cabin Sensing Systems
Global Biochip Market was valued at USD 11,247.45 million in 2020 and is projected to expand significantly with a CAGR of 12.13% from 2021-2027F. The Global Biochip Market is expected to witness a boost on account of increasing prevalence of chronic diseases and improvement in the healthcare infrastructure

A biochip is a little miniaturized device that can perform multiple biochemical reactions at the same time in molecular laboratories. It can quickly screen a variety of biological analytes for varied applications, including disease diagnosis and the detection of biological substances that are toxic to a system. It is designed based on microarray and microfluidic technologies, among which digital microfluid biochip is highly efficient, and has gained significant popularity in the biochemical field.

The adoption of biochips is increasing in various applications in genomics, proteomics, and drug discovery. The advancement of targeted and personalized medicines for the treatment of cancer is influencing the market growth. Other factors such as the rising number of biochips applications, technological advancement in biochips, and rise in healthcare spending facilities are leveling up the biochips market demand. As per the OECD, between 2010 and 2019, health spending averaged around 8.7% of GDP every year. At the same time, however, healthcare spending in the United States increased from 16.3% to 17% of GDP. Moreover, rising funds by government and private organizations in the emerging nations are expected to provide better opportunities for the market.

Some of the major players operating in the market are Abbott Laboratories Inc., Agilent Technologies, Inc., PerkinElmer Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories Inc, GE Healthcare Inc., Fluidigm Corporation, Illumina, Inc., F. Hoffmann-La Roche AG, and BioMerieux SA. Several M&A’s along with partnerships have been undertaken by these players to expand their business portfolio and reach across the globe.

Insights Presented in the Report

“Amongst Type, DNA Chips segment holds the major share.”

Based on products type, the market is fragmented into DNA chips, lab-on-a-chip, protein chips, and others. The DNA chips segment dominated the market generated major revenue of USD 4,367.41 million in 2020. Furthermore, the lab-on-a-chip segments are also expected to grow at the highest CAGR of 12.98% during the forecast period. The greatest advantage of the DNA arrays is their speed and high throughput, and they are useful in various genomic applications, including single nucleotide polymorphism (SNP) analysis, gene expression studies, disease classification, function prediction, pathway identification, new drug development, clinical diagnostics, and toxicology studies. For instance, DNA microarray-based gene expression profiling can provide powerful and independent prognostic information in patients with newly diagnosed breast cancer.

“Amongst Technology, Microfluids segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on the technology, the market is fragmented into microarray and microfluidics. The microarray segment of Global Biochips dominated the market with around 11.73% market share. The Microfluidics segment generated the revenue of USD 4,368.84 Mn in 2020 and is expected to grow at a CAGR of 12.74% during the forthcoming years owing to its application in forensics and drug discovery.

“Amongst Applications, Disease Diagnostics segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on the application, the market is fragmented into drug discovery & development, disease diagnostics, genomics, proteomics, and others. The drug discovery & development segment of Global Biochips dominated the market with around 11.91% market share. The Disease Diagnostics segment generated a revenue of USD 3,012.10 Mn in 2020 and is expected to grow at a CAGR of 13.22% during the forthcoming years. The demand for drug discovery and development is increasing owing to the increased research and development and the involvement of biotech companies. Moreover, there is a significant impact of the adoption of AI in drug discovery, and as per a report, there are almost 100 partnerships between AI vendors and large pharma companies for drug discovery since 2015, with increasing numbers witnessed in recent few years. Analysis shows that four partnerships were forged in 2015, which rose to 27 by 2020, an increase of 575% in just six years.

“Amongst End-user, Biotechnology & Pharmaceutical Companies segment is anticipated to grow at the highest CAGR during the analyzed period.”

Based on the end-user, the market is fragmented in hospitals & diagnostics centers, academics & research institutes, biotechnology & pharmaceuticals, and others. The Hospitals & Diagnostic Centres dominate the market in 2020 with 11.81% CAGR owing to the rising exploitation of biochips in hospitals and diagnostic centers due to their advantages such as reduction of time and cost, and the ability to deliver high throughput without the need for heavy and bulky instruments. The Biotechnology & Pharmaceutical Companies is anticipated to register the fastest CAGR of 12.87% in the upcoming period owing to the rising focus of various companies on developing novel biochips for detecting the infection in the body. In 2016, Thermo Fisher Scientific Inc. completed the acquisition of Affymetrix Inc., a leading provider of cellular and genetic analysis products. This acquisition helped Thermo Fisher to strengthen its leadership in biosciences, as well as acquire new genetic analysis capabilities to better serve clinical and applied markets.

“North America signifies one of the largest markets and Asia-Pacific is expected to be the fastest-growing markets of Biochip market.”

For a better understanding of the market adoption of the Biochip market, the market is analyzed based on its worldwide penetration in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and Rest of APAC), and Rest of World. North America constitutes a major market for Biochip and generated revenue of USD 3,826.38 million in 2020 owing to the advanced technology for diagnosis and treatment of chronic disorders, availability of private and government funding, etc. However, the Asia-Pacific region would grow at the highest rate during the forecast period. 

Reasons to buy this report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

Biochip market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

  • Abbott Laboratories Inc.
  • Agilent Technologies Inc.
  • PerkinElmer Inc.
  • Thermo Fisher Scientific Inc.
  • Bio-Rad Laboratories Inc
  • GE Healthcare Inc.
  • Fluidigm Corporation
  • Illumina Inc.
  • F. Hoffmann-La Roche AG
  • BioMerieux SA.

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Table of Content

1 MARKET INTRODUCTION
1.1. Market Definitions
1.2. Objective of the Study
1.3. Limitation
1.4. Stake Holders
1.5. Currency Used in Report
1.6. Scope of the Global Biochip Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Global Biochip Market
2.1.1. Main Objective of the Global Biochip Market

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 BIOCHIP AMID COVID-19

6 GLOBAL BIOCHIP MARKET REVENUE, 2019-2027F

7 MARKET INSIGHTS BY TYPE

7.1. DNA Chips
7.2. Lab-On-a-Chip
7.3. Proteins Chips
7.4. Others

8 MARKET INSIGHTS BY TECHNOLOGY
8.1. Microarrays
8.2. Microfluidics

9 MARKET INSIGHTS BY APPLICATION
9.1. Drug Discovery & Development
9.2. Disease Diagnostics
9.3. Genomics
9.4. Proteomics
9.5. Others

10 MARKET INSIGHTS BY END-USER
10.1. Hospitals & Diagnostics Centers
10.2. Academics & Research institutes
10.3. Biotechnology & Pharmaceuticals
10.4. Others

11 MARKET INSIGHTS BY REGION
11.1. NORTH AMERICA BIOCHIP MARKET
11.1.1. United States
11.1.2. Canada
11.1.3. Rest of North America
11.2. EUROPE BIOCHIP MARKET
11.2.1. United Kingdom
11.2.2. Germany
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Rest of Europe
11.3. ASIA PACIFIC BIOCHIP MARKET
11.3.1. China
11.3.2. Japan
11.3.3. India
11.3.4. South Korea
11.3.5. Australia
11.3.6. Rest of Asia Pacific
11.4. REST OF WORLD BIOCHIP MARKET

12 GLOBAL BIOCHIP MARKET DYNAMICS
12.1. Market Drivers
12.2. Market Challenges
12.3. Impact Analysis

13 GLOBAL BIOCHIP MARKET OPPORTUNITIES

14 GLOBAL BIOCHIP MARKET TRENDS & INSIGHTS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

16.1. Demand Side Analysis
16.2. Supply Side Analysis
16.2.1. Top Product Launches
16.2.2. Top Business Partnerships
16.2.3. Top Business Expansions, Investments and Divestitures
16.2.4. Top Merger and Acquisitions

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

18.1. Porter's Five Forces Analysis
18.1.1. Bargaining power of Supplier
18.1.2. Bargaining power of Buyer
18.1.3. Industry Rivalry
18.1.4. Availability of Substitute
18.1.5. Threat of new Entrants

19 COMPANY PROFILED
19.1. Abbott Laboratories Inc.
19.2. Agilent Technologies, Inc.
19.3. PerkinElmer Inc.
19.4. Thermo Fisher Scientific, Inc.
19.5. Bio-Rad Laboratories Inc
19.6. GE Healthcare Inc.
19.7. Fluidigm Corporation
19.8. Illumina, Inc.
19.9. F. Hoffmann-La Roche AG
19.10. BioMerieux SA

20 DISCLAIMER

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