SAN FRANCISCO, August 24, 2016 /PRNewswire/ --
Global biochips anticipated market to reach USD 25.84 billion by 2024, according to a new report by Grand View Research, Inc. Growing adoption of personalized medicine and rapid technological advancements in the biochips market along with high market demand from proteomic and genomic applications is expected to drive market growth.
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Anticipated launch and commercialization of novel products for diagnosis and treatment including laboratory- and non-laboratory-based research are expected to further reinforce growth in demand. Improvements in accuracy, resolution, and preparation procedures for the technology coupled with reduction in costs of associated materials are expected to fuel growth over the forecast period.
Ongoing developments related to further miniaturization of biochips are expected to enhance their applicability and additional usage for genetic sequencing methodologies, such as cancer genomics. Their usage is also expected to aid reduction in the cost of genome profiling, which is a factor likely to drive demand for the next step of genetic analysis, i.e., protein expression analysis. Consequently, a growth in the number of such protein profiling studies is expected to directly fuel demand for genomic and proteomic labeling techniques through to 2024.
Browse full research report with TOC on "Biochip Market Analysis by Type, (DNA Chips, Lab-On-a-Chip, Protein Chips, Cancer Diagnosis and Treatment, Gene Expression, Single Nucleotide Polymorphism (SNP) Genotyping, Genomics, Drug Discovery, Agricultural Biotechnology, Proteomics, Expression Profiling, High Throughput Screening), by End Use (Biotechnology & Pharmaceutical Companies, Hospitals & Diagnostics Centers, Academic & Research Institutes), and Segment Forecasts to 2024" at: http://www.grandviewresearch.com/industry-analysis/biochips-market
Further Key Findings From the Report Suggest:
Grand View Research, Inc. has segmented the global biochip market on the basis of type, end-use and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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