The development of innovative biochips is aimed at increasing speed of medical processes, simplifying many complex procedures, and reducing the overall costs.
The development of innovative biochips is aimed at increasing speed of medical processes, simplifying many complex procedures, and reducing the overall costs. Researchers from different universities across the globe took existing issues into consideration and developed solutions in terms of biochips. From simplifying the process of in-vitro skin manufacturing in laboratories to rapid detection of coronavirus, new biochips present a lot of advantages as compared to traditional methods. Biochips for advanced drug screening and measuring inflammation will facilitate many procedures for medical professionals as well as patients. The development activities of innovative biochips will continue in the coming years. According to the report published by Allied Market Research, the global biochips market is estimated to reach $21.41 billion by 2025. Following are some of the activities taking place across the globe.
High demand of personalized medicines:
Technological advancements in the sector and increased utilization in personalized medicines, cancer diagnostics, and treatment drive the growth of the global biochip market. However, high cost of R&D activities related to biochips hampers the market growth. On the other hand, improving the feasibility of biochips in drug discovery, proteomics, and genomics offers lucrative opportunities to the market players in future.
Biochips have garnered a substantial share in the recent years, due to large number of applications across the life science field, increase in prevalence of cancer, and high preference for biochip products. Development of advanced biochips with improved features has led to widening of applications of these products, thereby supplementing the market growth. Furthermore, increase in strategic developments by key players is anticipated to fuel the market growth in the near future.
Researchers and scientists from various universities have been designing novel devices that would solve issues from different areas of healthcare. Researchers from the Universidad Carlos III de Madrid (UC3M), the Universidad Politécnica de Madrid (UPM), and others developed a biochip to simplify the manufacturing process of in-vitro skin in laboratories. This device can model a human skin, which can be utilized for cosmetic and medical testing purposes. This will significantly lower down the costs. Bio-compatible and micro-machined adhesive vinyl sheets have been used for preparation of these biochips. Researchers explained that the biochip developed by them is accessible from any laboratory, cheap, versatile, and can be modified virtually. An in-vitro skin culture grows inside the biochip, and can be used for different purposes. Researchers highlighted that there is a huge scope for further developments.
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Increase in the incidence life threatening disorders:
As the development of novel biochips continue, researchers have been able to develop a biochip that can detect the presence of the SARS-CoV-2 virus that causes Covid-19 infection. A team of Czech researchers the Institute of Physics developed the biochip that is as reliable as PCR and as rapid as antigen. The collaboration of researchers from the Biology Centre of the Czech Academy of Sciences and the Faculty of Science of the University of South Bohemia, led to development as well as optimization of the biochip. The created and tested the samples containing virus particles, optimized the process of detection, determined sensor sensitivity, and checked results using standard detection procedures. Chemical, biological, and physical aspects are combined in the technology. Researchers highlighted that the detection is not affected by the mutations in the virus. Moreover, this method is faster than the traditional PCR method.
Major market players:
The key companies analyzed in the report include Abbott Laboratories, PerkinElmer Inc., Illumina Inc., Bio-Rad Laboratories Inc., Thermo Fisher Scientific, Inc., Agilent Technologies Inc., Fluidigm Corporation, GE Healthcare, Cepheid Inc., and F. Hoffmann-La Roche AG. In addition, the report highlights key market strategies, such as partnerships, collaboration, mergers & acquisition, and new product launch, which have been adopted by these market players to sustain the intense competition in the industry.