Microarray Biochips Market by Application and Geography - Forecast and Analysis 2022-2026

The microarray biochips market share is expected to rise to USD 14.75 billion by 2026 at a progressing CAGR of 19.95%. Furthermore, this report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches.

The microarray biochips market report offers information on several market vendors, including Abbott Laboratories, Agilent Technologies Inc., Applied Microarrays Inc., Bio Rad Laboratories Inc., BioChain Institute Inc., BioIVT LLC, Biometrix Technology Inc., Danaher Corp., F. Hoffmann La Roche Ltd., Fluidigm Corp., General Electric Co., HORIBA Ltd., Illumina Inc., Merck KGaA, OriGene Technologies Inc., Pantomics Inc., PerkinElmer Inc., Protein Biotechnologies Inc., QIAGEN NV, Randox Laboratories Ltd., RayBiotech Life Inc., Thermo Fisher Scientific Inc., and bioMerieux SA among others.

This microarray biochips market research report extensively covers market segmentation by application (drug discovery and development, diagnostics and treatments, research and consumables, forensic medicines, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)).

What will the Microarray Biochips Market Size be During the Forecast Period?

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"The presence of strong distribution networks in countries such as the US and Canada and the increasing focus of pharmaceutical companies on drug discovery and development will facilitate the tissue microarray market growth in North America over the forecast period." 

Microarray Biochips Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increase in market presence with a collaboration strategy is notably driving the microarray biochips market growth, although factors such as capital-intensive market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the microarray biochips industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Microarray Biochips Market Driver

One of the key factors driving the global microarray biochips market growth is the increase in market presence with a collaboration strategy. Players increase their market presence by collaborating with those companies that own bio-content. Research says that companies generate around 60% better results when they work in collaboration. They collaborate with each other for R&D, financial resources, and intellectual properties. Even manufacturers and end-user companies are also making various alliances, such as an alliance between a chip manufacturer and a pharmaceutical company.

• Thermo Fisher Scientific acquired Affymetrix under its life science segment to expand its product portfolio. The company even acquired FEI under the analytical instruments segment.
• In June 2020, GE Healthcare collaborated with the University of Oxford-led National Consortium of Intelligent Medical Imaging (NCIMI) in the UK to develop and test algorithms to support the diagnosis and management of COVID-19 pneumonia. Such activities will drive the growth of the market during the forecast period.

Key Microarray Biochips Market Trend

Emerging LOC technology is one of the key microarray biochips market trends that is expected to impact the industry positively in the forecast period. LOC technology is mainly used in the field of diagnostics to perform various complex tests simultaneously. Extensive research on LOCs has thrown light on more in-depth use of the technology. LOCs with small chemical sensors made of mid-infrared and far-infrared sensing systems have improved their application in monitoring activities. Other factors such as the small size, ease of handling, and result orientation and efficiency will further increase the demand for LOCs. Moreover, due to the outbreak of the COVID-19 pandemic, LOC COVID-19 diagnostic tests are being carried out as it is an inexpensive test and also provides a result in 20 minutes. Such factors will further support the market growth in the coming years.

Key Microarray Biochips Market Challenge

One of the key challenges to the global microarray biochips market growth is the capital-intensive nature of the market despite a lot of innovations. Not only manufacturers but investors or end-users in this market are also skeptical about their ROI. Moreover, accuracy can be negatively affected, owing to a low dynamic range of the existing microarrays. In addition, there are many research institutes and diagnostic centers that are unaware of the in-depth use of microarray biochips and thus, avoid making any investment. The reason behind this is the extravagant cost associated with this technology at the very first stage. Low commercial acceptability due to high costs and the lack of skilled labor will further limit the market growth in the forecast years.

This microarray biochips market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global microarray biochips market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the microarray biochips market during the forecast period.

Who are the Major Microarray Biochips Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Abbott Laboratories
• Agilent Technologies Inc.
• Applied Microarrays Inc.
• Bio Rad Laboratories Inc.
• BioChain Institute Inc.
• BioIVT LLC
• Biometrix Technology Inc.
• Danaher Corp.
• F. Hoffmann La Roche Ltd.
• Fluidigm Corp.
• General Electric Co.
• HORIBA Ltd.
• Illumina Inc.
• Merck KGaA
• OriGene Technologies Inc.
• Pantomics Inc.
• PerkinElmer Inc.
• Protein Biotechnologies Inc.
• QIAGEN NV
• Randox Laboratories Ltd.
• RayBiotech Life Inc.
• Thermo Fisher Scientific Inc.
• bioMerieux SA

 

This statistical study of the microarray biochips market encompasses successful business strategies deployed by the key vendors. The microarray biochips market is fragmented and the vendors are deploying growth strategies such as M&A activities to compete in the market.

Product Insights and News

• Agilent Technologies Inc. - The company offers microarray biochip products such as Mouse Exon Microarrays.
• Agilent Technologies Inc. - The life sciences and applied markets segment include genomics, nucleic acid contract manufacturing, research and development, pathology, companion diagnostics, microfluid business, and reagent partnership businesses.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The microarray biochips market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Microarray Biochips Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the microarray biochips market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Microarray Biochips Market?

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39% of the market's growth will originate from North America during the forecast period. The US is the key market for microarray biochips in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The well-developed infrastructure for medical research and studies of genomics and proteomics and disease outbreaks will facilitate the microarray biochips market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

Point-of-contact (POC) instruments, which are based on microfluidic technology, have played important roles in diagnosing the COVID-19 during the ongoing pandemic. For instance, in March 2020, the ID NOW instrument, introduced by Abbott in the US, detected positive samples within five minutes and negative results within 13 minutes. ID NOW, therefore, received Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA). Furthermore, In March 2020, BioMerieux received the Emergency Use Authorization from the US FDA for its BioFire COVID-19 test, which can be used in Clinical Laboratory Improvement Amendments (CLIA)-approved moderate and high-complexity clinical laboratories for detecting SARS-CoV-2. Therefore, microarray biochips have played a crucial role during the ongoing COVID-19 pandemic. Considering all these factors, the market in focus is expected to grow in the region during the forecast period.

What are the Revenue-generating Application Segments in the Microarray Biochips Market?

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The microarray biochips market share growth by the drug discovery and development segment will be significant during the forecast period. The advancement and the growing use of microarray biochips in the field of genomics and proteomics will result in an overall increase in market demand globally in the forecast years. This segment is also growing owing to the rising preference for personalized medicines. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the microarray biochips market size and actionable market insights on post COVID-19 impact on each segment.

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Microarray Biochips Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 19.95%
Market growth 2022-2026	$ 14.75 billion
Market structure	Fragmented
YoY growth (%)	19.35
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 39%
Key consumer countries	US, UK, Germany, China, and Japan
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, Agilent Technologies Inc., Applied Microarrays Inc., Bio Rad Laboratories Inc., BioChain Institute Inc., BioIVT LLC, Biometrix Technology Inc., Danaher Corp., F. Hoffmann La Roche Ltd., Fluidigm Corp., General Electric Co., HORIBA Ltd., Illumina Inc., Merck KGaA, OriGene Technologies Inc., Pantomics Inc., PerkinElmer Inc., Protein Biotechnologies Inc., QIAGEN NV, Randox Laboratories Ltd., RayBiotech Life Inc., Thermo Fisher Scientific Inc., and bioMerieux SA
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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.

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What are the Key Data Covered in this Microarray Biochips Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive microarray biochips market growth during the next five years
• Precise estimation of the microarray biochips market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the microarray biochips industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of microarray biochips market vendors

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