Global Biochips Market Analysis Report 2022-2026 - Proteomics and Genomics Drive Opportunities for Biochips

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Oct 24, 2022, 08:30 ET

DUBLIN, Oct. 24, 2022 /PRNewswire/ -- The "Biochips - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Biochips Market to Reach $25.4 Billion by 2026

Amid the COVID-19 crisis, the global market for Biochips estimated at US$15.9 Billion in the year 2022, is projected to reach a revised size of US$25.4 Billion by 2026, growing at a CAGR of 11.7% over the analysis period.

Biochip represents a solid substrate on which miniaturized test sites or microarrays are arranged. Biochip microarray technology is a testing platform where several experiments are performed at the same time to achieve rapid results and high throughput. Biochips (for example, lab-on-a-chip) thus serve as a mini laboratory where multiple analytes from a single sample are tested simultaneously.

DNA Chip, one of the segments analyzed in the report, is projected to grow at a 10.6% CAGR to reach US$9.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lab-On-a-chip segment is readjusted to a revised 12.3% CAGR for the next 7-year period. This segment currently accounts for a 30.6% share of the global Biochips market.

The U.S. Market is Estimated at $6.3 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026

The Biochips market in the U.S. is estimated at US$6.3 Billion in the year 2022. The country currently accounts for a 40.07% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.4 Billion in the year 2026 trailing a CAGR of 13.9% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.9% and 10.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR while Rest of European market (as defined in the study) will reach US$2.8 Billion by the close of the analysis period.

One of the prominent factors driving growth for the market for biochips at the global level is the increasing chronic disorders prevalence, especially among the fast rising elderly population in countries across the world. Increasing cancer incidence has also augmented biochips usage for early identification of cancer cells.

Biochips are being increasingly used in the development of personalized and targeted drugs for treating various cancers. Increasing interest among consumers in maintaining healthy lifestyles has also been resulting in demand growth for the chips. The COVID-19 pandemic had also led many pharmaceutical and biotechnology companies to increase their focus on creating more advanced biochips capable of detecting coronavirus.

Biochips have been successfully employed by several companies for developing COVID-19 diagnostic tests. These lab-based tests score over traditional options owing to their ability to deliver faster results and allow users to process multiple specimens simultaneously.

Growing microfluidic technology advancements have also over the years led to development of engineered biochips for numerous laboratory procedures. There are also now digital microfluidic biochips. Another important factor driving growth for the market is the growing consumer interest in less invasive surgeries. Increasing nanotechnology upgradations also promote market growth.

Protein Chip Segment to Reach $5.5 Billion by 2026

Protein chip or protein array represents a high throughput technique to investigate protein function and monitor their expression level. They are utilized as a popular technology for basic R&D. Protein microarrays involve proteins on glass membranes, micro titer wells, mass spectrometer plates and beads, to which probes labeled with fluorescent dyes are added.

The fluorescent signal emitted by the probe-protein reaction can be read via a laser scanner and qualifies and quantifies the protein. Technological advancements in diagnostics, increasing prevalence of cancer and rising demand for personalized medicine, are all factors that boost the protein chip market.

In the global Protein Chip segment, USA, Canada, Japan, China and Europe will drive the 12.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.2 Billion will reach a projected size of US$5.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$516.1 Million Billion by the year 2026.

What`s New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Biotechnology Sector Performance amid the Pandemic
Biochip Firms Get Ready to Address COVID-19 Challenge
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Biochips: A Primer
Manufacturing Systems Used in Biochip Manufacture
Historical Perspective
Classification of Biochips
Application Markets
Market Outlook
Protein Biochips Set for Expansion
Recent Technological Advancements Drive Wider Adoption of Biochips
Competition
Biotech Startups Pose Competition
Recent Market Activity
World Brands

2. FOCUS ON SELECT PLAYERS (Total 69 Featured)

Agilent Technologies, Inc.
Bio-Rad Laboratories, Inc.
CapitalBio Technology Inc.
Cepheid Inc.
Fluidigm Corporation
Hoffman-La-Roche Ltd.
Illumina, Inc.
OcimumBiosolutions Ltd.
PerkinElmer, Inc.
Takara Bio Inc.
Takara Bio USA, Inc.
Thermo Fisher Scientific Inc.

3. MARKET TRENDS & DRIVERS

Biochips Seek Increasing Role in POC Testing
Biochips to Help Next-Generation Sequencing Scale New Heights & Unravel Intimidating Biological Problems
Research Forays into Organ-On-A-Chip (OOC)
OCC Start-Ups Enter the Fray
Select Organ-On-A-Chip Start-Ups & Their Specialties
Biochip Implants Set to Make Big Gains
Biochips Aid in Alleviating Issues Associated with Immunological Studies
Challenges for Widespread Adoption
Drug Discovery Applications to Drive Market
Growing Preference for DNA/Protein Biochips in Personalized Medicine
Microphysiological Systems to Take Personalized Medicine Much Farther
Biochip Array Technology Enables Reliable and Accurate Investigation of Metabolic Syndrome
Proteomics and Genomics Drive Opportunities for Biochips
Increasing Application of Genomics and Proteomics in Cancer Diagnostics and Treatment to Drive Growth
Potential Application of Biochips in Diabetes Diagnosis and Management Unfurl New Growth Opportunities
World Diabetes Prevalence (2000-2019)
Rise in Infectious Diseases and Need for High-Troughput Diagnosis Drive Interest in Biochips
Global Number of Deaths Caused Due to Communicable Diseases (In 000s)
Agriculture Sector: Niche Vertical
Development of Protein Microarrays for the Field of Diagnostics: Key Challenges
Biochip Industry Thrives on Innovation
Researchers at UCI Develop Machine Learning-Assisted Biochip
New Biochip Combines Nanoparticle Printing and AI for Tumor Analysis
Axbio Introduces Smartbiochip
Multi-Dimensional Printing Technology Enables Development of New Biochip Printing Technique
MIT Develops Neuromorphic Chip Capable of Mimicking Human Brain
Biochips from AYOXXA: A Giant Leap in Protein Multiplexing
Biochip Innovations in Drug Discovery Applications
Industry Challenges
Standardization: A Key Challenge
High Costs Restrain Growth
Precise Protein Detection: A Challenge