Dublin, Sept. 15, 2022 (GLOBE NEWSWIRE) -- 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)
Lab - on - Chip
Application Type Outlook (Revenue, USD Billion; 2019-2030)
Substrate Materials Outlook (Revenue, USD Billion; 2019-2030)
Technology Outlook (Revenue, USD Billion; 2019-2030)
End-Use Outlook (Revenue, USD Billion; 2019-2030)
Pharmaceutical & Biotechnology Company
Academic & Research Institute
Hospitals & Diagnostics Centers
Regional Outlook (Revenue, USD Billion; 2019-2030)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
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
F. Hoffmann-La Roche Ltd.
Bio-Rad Laboratories Inc.
Randox Laboratories Ltd.
Thermo Fisher Scientific Inc.
For more information about this report visit https://www.researchandmarkets.com/r/b2svfc
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