Enjoy complimentary customisation on priority with our Enterprise License!
The Biochips Market size is estimated to grow by USD 72.27 billion at a of 30.73% between 2023 and 2028. The market is experiencing significant growth driven by the expanding applications in drug discovery, particularly in the field of personalized medicine. The market players are strategically collaborating to enhance their market presence and facilitate the adoption of biochips across various sectors. As technology continues to advance and the focus on tailored healthcare solutions intensifies, biochips are poised to play a transformative role in revolutionizing diagnostics and therapeutics. This market report provides an in-depth analysis of the key drivers propelling this growth, the emerging trends shaping the industry, and the challenges that need to be addressed to fully capitalize on the potential of biochips in personalized medicine and drug discovery.
To learn more about this market research and growth report, Request Free Sample
The market witnesses significant demand from academic institutions, biopharma companies, and research organizations like the Czech Academy of Sciences (CAS). Biochips play a crucial role in genomic, proteomic, and functional analyses, revolutionizing molecular biology and enabling precise diagnostics in the healthcare sector. With advancements in technology, biochips facilitate single-cell analysis and offer microfluidics-based devices for epidemiological studies, particularly in understanding and combating cardiovascular diseases (CVDs).
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion " for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market share growth by the biotechnology and pharmaceutical companies segment will be significant during the forecast period. Over the past ten years, demand for biochips has increased significantly across a range of end-user industries, including biotechnology and pharmaceutical companies. Pharmaceutical and biotechnology companies use biochips for a wide range of purposes, including drug discovery, genomics, proteomics, and diagnostics.
Get a glance at the market contribution of various segments View the PDF Sample
The biotechnology and pharmaceutical companies segment was valued at USD 5.03 billion in 2018. Genotyping, DNA methylation analysis, and gene expression analysis are a few examples of the many applications that make use of Illumina's microarray-based BeadChip technology. Pharmaceutical companies use biochips as well when creating new medications. For instance, Roche's xCELLigence system is a real-time platform for cell examination that uses microelectronic sensors to monitor cell behavior and drug response. The system is employed to evaluate the effectiveness, toxicity, and pharmacokinetics of drugs. Between 2023 and 2027, the demand for point-of-care (POC) testing and the growing popularity of personalized medicine are both expected to drive growth in the global market for biochips. As long as biotechnology and pharmaceutical companies continue to invest in research and development, the demand for biochips is expected to remain high, which will fuel the growth of the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In terms of value and volume, North America was the largest geographic region in the global market in 2022. The market is dominated by North America in terms of consumption. This is due to the infrastructure that has been developed for genomic and proteomic research in medicine. The region has recently been involved in a number of healthcare innovation projects. The region has also experienced rapid technological advancement, particularly in the fields of robotics and drug formulations. It also heavily utilizes microarray technology for DNA sequencing and gene identification. Hence, the demand for biochips in the region is being driven by these factors.
The increase in government funding for the healthcare industry has benefited the area. During the forecast period, it is anticipated that increased funding from the National Institutes of Health (NIH) and the Biomedical Advanced Research and Development Authority (BARDA) in the US will aid in the expansion of the regional market. Due to greater awareness of the potential of regenerative medicine, there has been an increase in research projects in the US. In the US, there are about 268 businesses engaged in the research, development, and commercialization of regenerative medicine. The development of new drugs and treatments for various diseases is aided by funding for research projects, which will spur regional expansion during the forecast period.
The market is witnessing rapid growth, driven by advancements in genomics, proteomics, and drug discovery. Biochips play a pivotal role in cancer research, personalized medicine, and infectious disease diagnostics. With applications ranging from molecular biology to epidemiological devices, biochips enable precise and high-throughput analyses. Next-generation sequencing (NGS) and lab-on-a-chip technologies are revolutionizing biomedical research and drug development. Biopharma companies, academic institutions, and healthcare sectors are prominent end-users of biochips. The market's expansion is further fueled by collaborations with research institutions like the Czech Academy of Sciences (CAS), emphasizing its critical role in advancing biomedical sciences and combating complex diseases like cardiovascular diseases (CVDs) through single-cell analysis and functional genomics. Key financials for the fabrication technology markets highlight advancements in RNA manufacturing platforms, molecular microchips, and DNA chips, while antigen tests and protein chips are crucial for POC-diagnostics systems. Innovations such as graphene and tissue beads are driving down manufacturing cost, with developments in cytogenetic laboratories and ongoing patent applications shaping the future of diagnostic technologies. Our researchers analyzed the data with 2023 as the base year and the key drivers, market growth and trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing use of personalized medicines is notably driving the market growth. Prior to the adoption of microarray biochips, drug discovery was considered to be a major component of operations in pharmaceutical companies. However, biotechnology companies have now begun to engage in some drug discovery-related activities. Microarray biochips shorten the drug pipeline timelines in drug discovery companies. Manufacturers of microarray biochips are attempting to offer better and incredibly effective solutions for drug discovery in response to the rise in end users. Multi-parameter testing, chip technology miniaturization, and flexible array technology introduction are some of these developments.
Testing a drug for both efficacy and toxicity is crucial in the drug discovery process. Typically, human hepatocytes were used in this testing. But now that microarray biochips are available, this problem is carefully and precisely addressed. Additionally, these biochips are efficient in terms of cost and perform several tasks at once. As a result, businesses use it more frequently. Due to the use of microarray technology in drug discovery, numerous pharmaceutical and biochemical companies have seen an increase in demand for this technology and related products. Hence, such factors will drive the growth of the market during the forecast period.
The increasing use of chemical microarray technology is an emerging trend in market growth. The study of genomics and proteomics makes extensive use of microarray technology. It has made it possible for several bioentities to function in parallel at the same time. All kinds of microarrays, including chemical microarrays, also known as chemical compound microarrays, protein microarrays, and DNA microarrays, are crucial for research and are in high demand.
Chemical structures are read against numerous biological targets using chemical microarray technology. Prior to immobilization, this technology was used to link chemicals directly from the chip, but this presented a problem. As a result, new technology has been created to connect dry chemicals on the same chip. This has enabled the analysis of cell-based assays using chemical microarray technology. Thus, with the increasing use of chemical microarray technology in biochips, the market in focus is expected to witness growth during the forecast period.
High costs associated with biochip R&D are major challenges impeding market growth. An important obstacle for the global market is the high cost of biochip research and development. Large investments in R&D as well as specialized manufacturing facilities and equipment are necessary for the development and commercialization of biochips. The cost of raw materials, such as reagents and oligonucleotides, can also be high. Because of these factors, biochips are expensive, which may limit their use and accessibility, particularly in places with limited resources.
The high costs associated with biochip research and development make it difficult for small and medium-sized businesses to compete in the market, which can stifle innovation and slow the pace of technological advancement. Hence, the high cost of R&D in the market in focus is a significant challenge that might hinder the growth of the market during the forecast period.
Market forecasting includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth analysis report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and forecasting strategies.
Global Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
IDEX Corp. - The key offerings of the company include biochips such as SmartChip Real-Time PCR System, SmartChip Probe qPCR Master Mix, and SmartChip TB Green Gene Expression Master Mix under its subsidiary called Takara Bio Inc.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market experiences revolutionary advancements with technologies like Lab-on-a-chip and Next-generation sequencing (NGS). Collaborations involving the Czech Academy of Sciences and startup Nutcracker emphasize global efforts. Innovations such as Ultraviolet lithography and RNA manufacturing platforms redefine DNA chips capabilities. Pioneering entities like Roswell Biotechnologies and Singapore's Institute of Bioengineering and Nanotechnology propel cancer diagnosis and treatment breakthroughs. Lab-On-Chips (LOC) gain FDA approval, particularly for microarray biochips, Single Nucleotide Polymorphism (SNP) and Gene expression profiling. Academic powerhouses like Universidad Carlos III de Madrid (UC3M) and Universidad Politécnica de Madrid (UPM) contribute to the industry's growth, leveraging R&D tax credits for continuous innovation.
The market is witnessing significant growth due to advancements in drug development and biomedical technologies. Microfluidic-based devices are revolutionizing disease detection, particularly for infectious diseases and rare diseases, with applications in academic institutions and biopharma companies. Institutions like the Czech Academy of Sciences contribute to research and development in areas such as antigen tests and PCR testing. Nanoparticle delivery technology enhances drug delivery, especially for drug-resistant cancer cells. Biochips, including DNA sequence and molecular microchips, enable SNP analysis and functional analyses crucial in molecular biology and single-cell analysis. These innovations have far-reaching implications for healthcare sectors worldwide, particularly in developing and under-developed regions and emerging economies, addressing epidemiological challenges like CVDs.
The market is experiencing rapid growth driven by biomedical advancement and the development of cutting-edge technologies such as microfluidics-based and epidemiological devices. Institutions like The Czech Academy of Sciences (the CAS) are at the forefront of research, fostering innovation in biochip technology, including protein chips. These advancements have diverse applications across various sectors, including agriculture, biotechnology & pharmaceutical companies, hospitals, and diagnostics centers. Academic & research institutes play a pivotal role in driving innovation and translating research into practical solutions. Additionally, the market is witnessing increased demand for point-of-care diagnostics, highlighting the growing importance of biochips in providing timely and accurate medical testing at the point of need.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
164 |
|
Base year |
2023 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 30.73% |
|
Market growth 2024-2028 |
USD 72.27 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
24.73 |
|
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
|
Performing market contribution |
North America at 41% |
|
Key countries |
US, China, Russia, UK, and France |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Agilent Technologies Inc., Analis sa, Arrayit Corp., BICO Group AB, Bio Rad Laboratories Inc., Boao Bio Group Co. Ltd., Dynamic Biosensors GmbH, Eden Tech, Greiner Bio One International GmbH, IDEX Corp., Illumina Inc., INNOPSYS, Micronit BV, Nutcracker Therapeutics Inc., Perkin Elmer Inc., QIAGEN NV, Randox Laboratories Ltd., Sphere Fluidics Ltd., Takara Holdings Inc., and Thermo Fisher Scientific Inc. |
|
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
Get the report (PDF) sent to your email within minutes.