Biochip Market Report, Size, Trends, Emerging Growth Factors, Opportunities and Forecast 2027

A comprehensive overview of the Biochip Market is recently added by UnivDatos Market Insights to its humongous database. The Biochip Market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Biochip Market. The Biochip Market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Biochip Market at the global and regional levels.

The Global Biochip Market is expected to grow at a significant rate by 2027.

Market Overview

The demand for biochips across the globe is witnessing an uptick on account of the growing cancer prevalence and rising incidence of viral infections and immunological disorders have served as significant global biochip market growth drivers. For instance, as per CDC, in 2019, Asian persons continued to represent the largest proportion of persons with TB (35.3%), followed by Hispanic persons (30.2%), Black/African American persons (19.7%), and White persons (11.4%). Furthermore, the rising number of biochips applications, technological advancement in biochips, and improving infrastructure facilities are leveling up the biochips market demand. In addition, an increase in government funding for medical and academic research activities would enhance the growth of the market for tissue engineering throughout the forecast period. For instance, according to the National Institutes of Health's (NIH) April 2019 released the list of funding for various research, condition, and disease categories (RCDC), funding for stem cell research and regenerative medicine was USD 1.8 billion and USD 1.0 billion, respectively, in 2018. The NIH estimated that the two sectors would get USD 1.7 billion and USD 915 million in funding in 2020, respectively.

COVID-19 Impact

The sudden outbreak of COVID-19 has disrupted the economy of the countries in the world. However, some sectors including, pharmaceuticals, medical devices, research, and e-commerce have made gains during this pandemic. The COVID-19 has positively impacted the biochip market. Biochips have relevance in the detection of COVID-19, due to which the market shares of biochips got boom. The key players operating in the market are focusing on launching various products using biochips technology, which helps the healthcare providers in these tough times. In addition to this, due to increasing cases of COVID-19 patients worldwide, there is a high prevalence to develop a vaccine where the researchers need to study the effects of this coronavirus on humans. Here, biochips play a major role by allowing the assessment of patient response, including antibody response, which aids the researchers in understanding the sequences to develop a vaccine.

Global Biochip Market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Type, the market is primarily bifurcated into

• DNA Chips
• Lab-On-a-Chip
• Proteins Chips
• Others

The DNA Chips sub-segment dominated the global Biochip Market and is expected to grow at a noteworthy CAGR of 12.05% by the year 2027.

By Technology, the market is primarily segmented into

• Microarrays
• Microfluidics

Amongst Technology, the Microarrays segment accounted for the largest share in 2020 and is expected to grow at a CAGR of 11.73% during the forecast period 2021-2027.

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By Applications, the market is primarily segmented into

• Drug Discovery & Development
• Disease Diagnostics
• Genomics
• Proteomics
• Others

Amongst Applications, the Drug Discovery & Development segment accounted for the largest share in 2020 and is expected to grow at a significant CAGR of 11.91% during the forecast period 2021-2027.

By End-user, the market is primarily segmented into

• Hospitals & Diagnostics Centers
• Academics & Research institutes
• Biotechnology & Pharmaceuticals
• Others

Biochip Market Geographical Segmentation Includes:

• North America (United States, Canada, Rest of North America)
• Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
• Asia-Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific)
• Rest of the World

North America is dominating the Biochip Market in 2020 and Asia Pacific is anticipated to maintain its dominance during the forecast period.

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The major players targeting the market includes

• Abbott Laboratories Inc.
• Agilent Technologies, Inc.
• PerkinElmer Inc.
• Thermo Fisher Scientific, Inc.
• Bio-Rad Laboratories Inc
• GE Healthcare Inc.
• Fluidigm Corporation
• Illumina, Inc.
• F. Hoffmann-La Roche AG
• BioMerieux SA

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Biochip Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Biochip Market?

• Which factors are influencing the Biochip Market over the forecast period?

• What are the global challenges, threats, and risks in the Biochip Market?

• Which factors are propelling and restraining the Biochip Market?

• What are the demanding global regions of the Biochip Market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of Biochip Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Players
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.