NEW DELHI, Sept. 26, 2019 /PRNewswire/ -- According to a new report Global Biochips Market, published by KBV research, The Global Biochips Market size is expected to reach $20.3 billion by 2025, rising at a market growth of 11.2% CAGR during the forecast period. Applications of biochips in biochemistry, pharmacogenomics, microbiology, proteology, clinical pathology and analysis of DNAs are widely available. In terms of particular applications, biochips can be used to screen analytes for traces of biological warfare, drug discovery, and drug development, for the molecular diagnosis of disease and other diseases, for personalized medicine and to identify a wide range of biomolecules in general.
The North America market dominated the Global DNA Chip Market by Region in 2018, and is anticipated to continue its dominance in the forecast period. This is directly related to a rise in cancer incidence, development of the geriatric population and the use of biochips because of their extensive use. Moreover, in the future, market players are expected to see a significant amount of key stakeholders and the accessibility of advanced healthcare infrastructure. The Europe market is expected to witness a CAGR of 10.5% during (2019 - 2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 12.4% during (2019 - 2025).
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The Drug Discovery and Development market dominated the Global Biochips Market by Application in 2018, growing at a CAGR of 10.9 % during the forecast period. The Disease Diagnostics market is expected to witness a CAGR of 10.8% during (2019 - 2025). The development of advanced biochips with enhanced features has led to the extension of these products' applications and thus boosts the development of the market. In addition, strategic development by key participants is projected to improve in the near future, fueling market growth.
The Biotechnology and Pharmaceutical Sector market dominated the Global Biochips Market by End User in 2018, growing at a CAGR of 10.9 % during the forecast period. The Hospitals and Diagnostics Centers market is expected to witness a CAGR of 10.8% during (2019 - 2025). The Academic and Research Institutes market is expected to witness a CAGR of 12.6% during (2019 - 2025).
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The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Fluidigm Corporation, Horiba Ltd., PerkinElmer, Inc., OriGene Technologies, Inc., Dynamic Biosensors GmbH, Illumina, Inc., Qiagen N.V., Bio-Rad Laboratories, Inc., Randox Laboratories Limited, and Thermo Fisher Scientific, Inc.
Global Biochips Market Segmentation
- DNA Chip
- Protein Chip
- Lab-on-Chip and
- Other Products
- Drug Discovery and Development
- Disease Diagnostics
- Agriculture and
- Other Applications
By End User
- Biotechnology and Pharmaceutical Sector
- Hospitals and Diagnostics Centers
- Academic and Research Institutes and
- Other End Users
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Fluidigm Corporation
- Horiba Ltd.
- PerkinElmer, Inc.
- OriGene Technologies, Inc.
- Dynamic Biosensors GmbH
- Illumina, Inc.
- Qiagen N.V.
- Bio-Rad Laboratories, Inc.
- Randox Laboratories Limited
- Thermo Fisher Scientific, Inc.
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SOURCE KBV Research