Global Biochips Market to Reach $34.35 Billion by 2030

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Sep 22, 2022, 07:45 ET

DUBLIN, Sept. 22, 2022 /PRNewswire/ -- The "Biochips Market, By Product, By Application, By Substrate Materials, By Technology, By End-Use, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global biochip market size is expected to reach USD 34.35 Billion in 2030 and register a revenue CAGR of 11.5% over the forecast period, according to the latest report. The rising prevalence of chronic diseases, such as cancer and diabetes, has resulted in an upsurge in demand for early diagnosis. In addition, the increasing adoption of personalized medicine and point-of-care (POC) testing is estimated to propel market growth.

In addition, the suspension of elective surgeries and non-urgent medical procedures has resulted in a decrease in demand for biochip products. However, the increasing demand for POC testing and rapid diagnosis kits is expected to mitigate the impact of the pandemic on the market.

Increasing application of biochips in proteomics, genomics, and drug discovery coupled with growth in the field of personalized medicine is projected to fuel the market growth. In addition, technological advancements and miniaturization of components are anticipated to create lucrative opportunities for market players over the forecast period. However, high cost associated with these devices may hinder market growth.

Biochip technologies have a significant impact on genomic research and development. In the past two decades, the adoption of biochip technology has increased significantly in the field of healthcare and medicine. Biochips are used in different applications such as DNA sequencing, disease diagnosis, and drug discovery.

However, biochip systems comprise probes formatted in micro scales on glass surfaces, which further require automated robotic tools for their handling. Hence, the cost of biochip systems is high as compared to other genomics technologies. Also, lack of awareness about this technology among developing countries is restraining the growth of this market during the forecast period.

For the purpose of this report, the author has segmented biochip market based on product, technology, substrate materials, application, end-use, and region:Product Outlook (Revenue, USD Billion; 2019-2030)

DNA Chip
Lab - on - Chip
Protein Chip
Others

Application Type Outlook (Revenue, USD Billion; 2019-2030)

Genomics
Proteomics
In-Vitro Diagnostics
Disease Diagnostics
Agriculture

Substrate Materials Outlook (Revenue, USD Billion; 2019-2030)

Glass
Polymers
Silicon
Others

Technology Outlook (Revenue, USD Billion; 2019-2030)

Microfluidics
Microarray

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Pharmaceutical & Biotechnology Company
Academic & Research Institute
Hospitals & Diagnostics Centers
Others

Regional Outlook (Revenue, USD Billion; 2019-2030)

North America
US
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Biochips market Segmentation & Impact Analysis

Chapter 5. Biochips market By Product Insights & Trends

Chapter 6. Biochips market By Application Insights & Trends

Chapter 7. Biochips market By Substrate Materials Insights & Trends

Chapter 8. Biochips market By Technology Insights & Trends

Chapter 9. Biochips market By End-Use Insights & Trends

Chapter 10. Biochips market Regional Outlook

Chapter 11. Competitive Landscape

Chapter 12. Company Profiles

Companies Mentioned