New York, USA, April 18, 2024 (GLOBE NEWSWIRE) -- Global Biochips Market Size and Share to Grow by 2030, Accesses DelveInsight | Key Players in the Market - Thermo Fisher Scientific, Agilent Technologies, GE Healthcare, Qiagen, Abbott, Hoffmann La-Roche, Cepheid
The biochips market is projected to experience substantial growth with a remarkable CAGR between 2024 and 2030. This expansion is driven by factors such as the rising incidence of chronic illnesses worldwide, the expanding use of biochips in diverse clinical research endeavors, and the increasing need for point-of-care testing. These elements collectively contribute to the overall progression of the Biochips market throughout the forecast duration from 2024 to 2030.
DelveInsight’s Biochips Market Insights report provides the current and forecast market analysis, individual leading biochips companies’ market shares, challenges, biochips market drivers, barriers, trends, and key market biochips companies in the market.
Key Takeaways from the Biochips Market Report
- As per DelveInsight estimates, North America is anticipated to dominate the global biochips market during the forecast period.
- Notable biochips companies such as Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE Healthcare, LI-COR, Inc., Qiagen, Randox Laboratories Ltd, Abbott, F. Hoffmann La-Roche, Cepheid Inc., Fluidigm Corporation, BioMerieux SA, and several others, are currently operating in the biochips market.
- In July 2023, Opteev Technologies, Inc., a pioneering technology company at the forefront of diagnostics, filed a patent for a revolutionary multiplex biochip Opteev multiplex biochip for respiratory infection diagnostics.
- In June 2023, ACROBiosystems, under its Aneuro brand, announced the launch of in vivo electrophysiology solutions for neuroscience research with Diagnostic Biochips. Together, the two companies are committed to a collaborative effort to accelerate neurological drug discovery and commercialization.
- In January 2022, researchers from the Universidad Carlos III de Madrid (UC3M), the Universidad Politécnica de Madrid (UPM), and other organizations innovated a new biochip device made of biocompatible and micro-machined adhesive vinyl sheets, that simplified the process of manufacturing in vitro skin in the laboratory and other complex multi-layer tissues. Human skin modeled using this device could be used in medicine and cosmetic testing, which would reduce the cost of preclinical trials.
To read more about the latest highlights related to the biochips market, get a snapshot of the key highlights entailed in the Global Biochips Market Report
Biochips Overview
Biochips, the marvels of modern biotechnology, are revolutionizing the way we interact with biological systems. These miniature devices, often no larger than a fingernail, integrate living cells or biological molecules onto a solid substrate. In doing so, they allow researchers to mimic the complex processes of living organisms in a controlled environment, offering invaluable insights into biological functions. From studying disease mechanisms to drug testing and environmental monitoring, biochips serve as powerful tools at the intersection of biology, engineering, and medicine.
At the forefront of innovation, biochips promise a future where personalized medicine is not just a concept but a reality. Their ability to rapidly analyze genetic information and cellular responses holds the potential to tailor treatments to individual patients, maximizing efficacy and minimizing side effects. Furthermore, as these chips become more sophisticated, with advancements in nanotechnology and microfluidics, we can anticipate breakthroughs in diagnostics, prosthetics, and even the development of artificial organs. As the field continues to expand, biochips stand as a testament to human ingenuity and our quest to unlock the mysteries of life itself.
Biochips Market Insights
In 2023, North America held the largest share of the biochips market. This is primarily attributed to several key growth factors in the region during the forecast period from 2024 to 2030. These factors include a substantial patient population dealing with various diseases such as cancers, increased demand for diagnostic procedures, active research endeavors, and substantial government funding initiatives.
The biochips market is anticipated to experience significant growth in North America due to major collaborations among key industry players. An illustrative example of this trend is the partnership between US-based healthcare giants and investments in microarray technology research. For instance, in September 2022, Illumina Inc. introduced the NovaSeq X Series, a cutting-edge technology enabling faster and more efficient sustainable sequencing. The NovaSeq X Plus, a groundbreaking advancement, is capable of generating over 20,000 whole genomes annually, thus accelerating genomic discoveries and clinical insights to improve patient outcomes. Such collaborative efforts are expected to drive market demand for biochips in the region.
Additionally, the rising prevalence of chronic and lifestyle-related diseases in North America is a significant contributing factor to the growth of the biochips market. For instance, according to the Canadian Cancer Statistics (2021), approximately 229,200 Canadians were diagnosed with cancer in 2021. Similarly, the International Diabetes Federation (IDF) reported an estimated 14 million adults living with diabetes in Mexico in 2023. This high prevalence of chronic diseases is expected to boost the demand for biochips by facilitating increased rates of diagnosis, treatment, and opportunities for clinical research in the region.
In conclusion, North America is poised for substantial growth in the biochips market due to the presence of key industry players, the escalating incidence of chronic diseases, advancements in healthcare infrastructure, and ongoing research activities.
To know more about why North America is leading the market growth in the biochips market, get a snapshot of the Biochips Market Outlook
The global biochips market is expected to experience a surge in demand due to the rising numbers of chronic and infectious diseases worldwide. Chronic diseases, which are major causes of disability and morbidity, necessitate skilled healthcare professionals and advanced treatment methods for effective management. For instance, a study by the European Public Health Conference in January 2022 projected that over 3 million people in Europe would be affected by cancer by 2030. Similarly, a research paper published by the Journal Plos One in March 2022 highlighted that 21% of India's elderly population had at least one chronic disease, leading to significant mortality rates among this demographic.
The biochips market is also seeing a rise in the development of new lab-on-a-chip-based Point-of-Care (POC) systems for diagnosing chronic diseases, indicating a promising avenue for growth. Additionally, the utilization of biochips in biomedical and biotechnological research, particularly in proteomics and genomics, is expanding. Proteomics plays a crucial role in drug and biomarker discovery, with protein biochips offering advantages such as miniaturization, which reduces sample consumption.
Recent advancements in biochip technology, such as the revolutionary multiplex biochip for respiratory infection diagnostics developed by Opteev Technologies, Inc., are further fueling market demand. This polymer-based biochip, filed for the patent in July 2023, enables rapid testing of multiple pathogens including SARS-CoV-2, RSV, and Influenza, providing precise identification within minutes.
Considering these factors, the biochips market is poised for significant growth from 2023 to 2030. However, challenges such as the availability of alternative technologies and limitations associated with lab-on-chip devices could potentially hinder overall biochip market expansion during the forecast period.
Get a sneak peek at the biochips market dynamics @ Biochips Market Dynamics Analysis
| Report Metrics | Details |
| Coverage | Global |
| Study Period | 2021–2030 |
| Key Biochips Companies | Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE Healthcare, LI-COR, Inc., Qiagen, Randox Laboratories Ltd, Abbott, F. Hoffmann La-Roche, Cepheid Inc., Fluidigm Corporation, BioMerieux SA, among others |
Biochips Market Assessment
- Biochips Market Segmentation
- Biochips Market Segmentation By Type: DNA Chips, Protein Chips, Lab-on-Chips, and Others
- Biochips Market Segmentation By Application: Genomics and Proteomics, Drug Discovery, Diagnostics, IVD & POC, Gene Expression, and Others
- Biochips Market Segmentation By End User: Hospitals and Diagnostic Centers, Academic and Research Institutes, Pharmaceutical and Biotechnology Companies, and Others
- Biochips Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
- Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View
Which MedTech key players in the biochips market are set to emerge as the trendsetter explore @ Biochips Companies
Table of Contents
| 1 | Report Introduction |
| 2 | Executive summary |
| 3 | Regulatory and Patent Analysis |
| 4 | Key Factors Analysis |
| 5 | Porter’s Five Forces Analysis |
| 6 | Biochips Market Layout |
| 7 | Global Company Share Analysis – Key 3-5 Companies |
| 8 | Biochips Market Company and Product Profiles |
| 9 | Project Approach |
| 10 | About DelveInsight |
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About DelveInsight
DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.
