Biochips Market Demand 2022-2030: Increasing Adoption of Biochips for Detecting and Testing Allergens Is Expected to Drive Revenue Growth
The latest market analysis report published by Reports and Data, titled ‘Global Biochips Market – Forecast to 2030,’ thoroughly examines the Biochips industry to provide essential data & information for the targeted readers. The report consists of quantitative and qualitative research on the market performed by our market experts. The Biochips industry report emphasizes the current and upcoming market revenue growth opportunities and trends. Moreover, the report offers key information on the industry statistics, as well as a wide range of dynamic factors including drivers, restraints, risks, challenges, threats, supply & demand ratios, production & manufacturing capacities, sales & distribution networks, cost & demand volatility, import/export ratios, profit margins, and macro-economic and micro-economic factors. The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview. Our market experts have determined the current financial positions of the leading industry players in the report leveraging advanced analytical tools such as Porter’s Five Forces Analysis, SWOT analysis, and investment assessment.
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Advancement of nanotechnology increases the capability and reduces the size of biochip and makes it useful for diagnostics, research, drug development, and toxicology studies which has led to growing adoption of biochips in various applications. These chips are now widely used in genomics, proteomics, personalized medicine, and other applications which prompt existing manufacturers and new startups to develop, invest, and introduce new technology in the market. For instance, Dutch startup Qurin Diagnostics is offering novel biomedical diagnostics using biochips. Their nanotechnology-based platform is used to monitor, diagnose, treat cancer, and other medical conditions. On 14 March 2022, U.S. startup Nutcracker Therapeutics raises USD 167 million for the advancement of its mRNA biochip-based manufacturing platform. In May 2021, TU Wien, which is a major university in Austria developed biochip that could be used to produce tissue beads in the desired size and supply them with drugs or nutrients.
The global Biochips market has significantly grown over the recent past and is expected to register rapid growth over the forecast period of 2022 to 2030. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Biochips market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.
The ongoing pandemic is significantly changing the dynamics of the pharma and healthcare sector. Various countries are facing challenges such as shortage of medicines, vaccines, healthcare devices in hospitals. This is expected to open lucrative growth opportunities for market players in the coming years.
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, merger and acquisitions, collaborations, and joint ventures to gain robust footing in the market.
Top Companies Profiled in the Report:
bioMerieux SA, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Fluidigm, Illumina, Inc., HORIBA, Ltd., PerkinElmer, Inc., QIAGEN, Randox Laboratories Ltd., and Thermo Fisher Scientific Inc., and Cepheid.
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Biochips Market Segmentation:
By Product Outlook:
- DNA Chip
- Lab - on - Chips
- Protein Chip
By Technology Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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