A Biochip is a collection of miniaturized test sites (microarrays) arranged on a solid substrate that can perform hundreds or thousands of simultaneous biochemical reactions in order to achieve higher throughput and speed. Biochips help researchers to quickly see large number of biological analytics and are used in a range of research applications within the biotechnology sector, including pharmaceuticals, proteomics and genomics. Biochips are also used in analysis of organic molecules associated with living organisms and helps in identifying gene sequences, airborne toxins, environmental pollutants and other biochemical constituents. Although biochips have been developed and commercialized in mid eighties but the market has transformed in the starting of last decade. The global biochips market is expected to grow approximately at anannual growth rate (CAGR) of 18% (2015-2021).
Presently the biochips market is undergoing rapid expansion with the discovery of new applications and the development of existing technologies. The key driving forces for the market of biochips are: growth in personalized medicine market, increase in government spending/ private investment in healthcare budgets and R&D respectively, rising case of lifestyle related diseases and so on. Various factors such as less accuracy of biochips that may lead to wrong analysis, low rate of translation of discoveries in drugs, medical devices and protein biomarkers, low acceptance due to high cost and availability of alternative technologies are restraining the growth of biochips market.
Research and development is considered to be significant approach to bring more insight to human genome project. Globally, the inclination towards personalized medicine is increasing as a result biochips market has huge scope in future. Biochips market is collaborated by the significant inflows of government and private funds. These funds raised by the biochips companies are being invested in further R&D process by which the companies can come up with various technologically advance and innovative technologies. Biochips market is considered to be very promising and various innovative technologies with economic reagents are expected to come in near future. APAC region is the most emerging market and has huge scope in near future; as a result various biochips companies are focusing on APAC countries such as India, China, Japan and Korea.
The report has covered the prevalence of life style oriented diseases such as cancer, diabetes, CVD and other heart diseases in the parametric analysis. The rising life style oriented diseases are also covered with global and regional perspectives. There is global adoption of diagnostics through biochips in research centers which is also a significant parameter covered in the report. Growing healthcare expenditure across geographiesis favorable for the biochips market since diagnosis is expensive.
The global biochips market is segmented on the basis of applications, types, and by end users. In applications the market is segmented by DNA micro array market, lab-on-chip (LOC) market, protein micro array market and other array market. On the basis of types the market is segmented into protein microarray market and other array market. By end user the market is segmented into R&D tools, drug discovery and tools, diagnostic centers and sequencing and others. Among all segments the DNA microarrays represent the largest segment of biochips market and will continue to be the largest contributor during the forecasted period However, this segment will expected to be closely followed by lab-on-chip in due to its wide applications and increased adoption by various biotechnology, pharmaceutical companies, and research laboratories and the third largest segment will be protein microarrays due to advances in the fields of genomics and proteomics and improvements in the field of recombinant proteins.
Development in genomics and proteomics are considered to be significant steps for the growth and development of biochips market. The rise in incidence and prevalence rate in cancer are giving rise to diagnostic and drug discovery market in biochips market. However, DNA micro array market is expected to contribute highest among all the segments of biochips market. Lab on a chip is the emerging market with the advancement and development of genomics and proteomics in biochips market.Moreover, the report also includes the end user analysis of biochips market. It includes the research and development institutes, drug discovery and development centers and so on.
Geographically the market is segmented into North America (US, Canada), Europe (UK, Italy, Spain, France, Germany, RoE), Asia-Pacific (India, Japan, Australia, China, Korea, RoAPAC) and Rest of World (Latin America, MENA and Africa). Presently North America dominates the global biochips market due to large number of aging population and broad technical applications of biochips followed by Europe and Asia-Pacific. Asia-Pacific market is expected togrow in future due to growing economies like India and China.The key players in global biochips market are Agilent technologies AffymetricInc, Gene system Inc, Agendia BVInc, Customarray inc, Digital genomics inc, Bio chain institute Inc, Biomerieux SA , Bio-rad laboratories inc, Cepheid Inc, Caliper life sciences inc, Cybrdi inc, EMD Millipore, Elim Biopharmaceuticals, Falcon Genomics, Genalyte and so on.
