Global Biochips Market - 2021-2028

Global Biochips Market - 2021-2028

Market Overview

The Global ""Biochips Market"" is Expected to reach at a CAGR of 11 % during the forecast period (2021-2028).

Biochips refer to a miniaturized device capable of performing thousands of biochemical reactions and are used in molecular biology. Their unique features include thousands of biochemical reactions used in molecular biology. These are utilized in various applications such as research applications in biotechnology such as genomics and proteomics, molecular diagnostics and drug screening and development.

Market Dynamics

The technological advancement of biochips is expected to drive market growth.

The emergence of next-generation sequencing technology, which has a short read length, high measurement throughput, and low cost, has changed life science, medicine, and even computer science. The development of third-generation sequencing technologies, such as nanopore and zero-mode waveguide techniques, has resulted in even faster and longer read lengths, with promising applications in portable and rapid genomic studies in the field. Issues such as public health emergencies and global pandemics, especially in the current climate, demand rapid identification of analyte origins and species via DNA sequences. In addition, future development of disease diagnosis, treatment, and tracking techniques may also require frequent DNA testing. As a result, DNA sequencers with miniaturized size and highly integrated components for personal and portable use to tackle increasing needs for disease prevention, personal medicine, and biohazard protection may become future trends. Like many other biological and medical analytical systems that were originally bulky in sizes, collaborative work from various subjects in engineering and science eventually led to the miniaturization of these systems. DNA sequencers that involve nanoprobes, detectors, microfluidics, microelectronics, circuits, and complex functional materials and structures are extremely complicated but maybe miniaturized with technical advancement. Thus, the market is expected to drive in the forecast period from the above statements.

Restraint:

The high cost of biochips, lack of awareness regarding biochip technologies, and stringent regulatory guidelines are a few factors the market is expected to hamper in the forecast period.

COVID-19 Impact Analysis

The COVID-19 pandemic had a positive impact on the market. Sensitive detection of SARS-CoV-2 is of great importance for inhibiting the current pandemic of COVID-19. A simple yet efficient platform integrates a portable and low-cost custom-made detector and a novel microwell array biochip for rapid and accurate detection of SARS-CoV-2. The instrument exhibits expedited amplification speed that enables colorimetric read-out within 25 minutes. Moreover, Based on reverse transcriptase loop-mediated isothermal amplification, a polymeric chip with a laser-engraved microwell array was designed to process the reaction between the primers and the respiratory swab RNA extracts (RT-LAMP). To acquire clinically acceptable results, created a set of six primers to identify the conserved sections of the SARS-CoV-2 ORF1ab gene. Thus, this is owing to boost the biochips market in the forecast period.

Segment Analysis

Lab-on-a-chip segment is expected to hold the largest market share in biochips market

The Lab-on-a-chip segment is expected to dominate in 2020. The segment benefits because it includes dramatically reduced sample size, much shorter reaction and analysis time, high throughput, automation, and portability. The key microfluidic functions required in various lab-on-a-chip devices include pumping, mixing, thermal cycling, dispensing, and separating. Moreover, increasing research on LOC is expected to boost the market in the forecast period. For instance, The University of Alberta's top researchers has worked together to create a portable LOC device for detecting COVID-19 antibodies quickly. A low-cost imaging platform based on the lab-on-a-chip technology developed by University of California Irvine scientists could also be available for quick coronavirus diagnosis and antibody testing. Therefore, it has increased the demand for Lab-on-a-chip technology, due to which the market segment is expected to hold the largest market share in the forecast period.

Geographical Analysis

North America region holds the largest market share in the global biochips market

In 2020, North America accounted for the highest revenue share. The growing geriatric population, increasing prevalence of cardiovascular diseases and cancer, product launches and approvals by the market players, and technological advancements in biochip technologies are factors that the market is expected to boost in the forecast period. For instance, according to the Centers for Disease Control and Prevention, Coronary heart disease is the most common type of heart disease, killing 360,900 people in 2019. About 18.2 million adults age 20 and older have CAD (about 6.7%). About 2 in 10 deaths from CAD happen in adults less than 65 years old.

Moreover, In the United States, interest in high throughput screening (HTS) technology in academic research has increased. The Society for Biomolecular Sciences maintains a comprehensive database of academic screening centers. It provides academics with HTS resources, but it also assists in identifying probes and leads for drug discovery. Additionally, The US Food and Drug Administration (FDA) granted PathogenDx, Inc. an Emergency Use Authorization (EUA) for their patented COVID-19 multiplexed viral diagnostic test, DetectX-Rv, in April 2021. DetectX-Rv is a qualitative nucleic acid detection assay based on RT-PCR and DNA microarray hybridization from SARS-CoV-2 swabs. Thus, the North American region is expected to hold the largest market share in the forecast period from the above statements.

Competitive Landscape

Major key players in the biochips market are Bio-Rad Laboratories Inc., Agilent Technologies Inc., Fluidigm Corporation, Thermo Fisher Scientific, Abbott Laboratories , PerkinElmer Inc., Illumina, Inc., Cepheid Inc., Sigma Aldrich and Sofchip.

Thermo Fisher Scientific:

Overview:

Thermo Fisher Scientific is an American company incorporated in 1956 and is based in Waltham, Massachusetts. The company offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services worldwide. Moreover, the global team has more than 90,000 colleagues who deliver an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services and Patheon.

Product Portfolio:

GeneChip Hybridization Oven: The GeneChip Hybridization Oven 645 provides precise temperature and rotation control to help ensure the successful hybridization of as many as 64 GeneChip-brand cartridges at one time.

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Target Audience

Service Providers/ Buyers

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Market Segmentation

Global Biochips Market – By Product Type

DNA Chip

Protein Chip

Lab-on-a-chip

Others

Global Biochips Market – By Application

Drug Discovery

Genomics

Proteomics

Disease Diagnostics

Others

Global Biochips Market – By Technology

Microarrays

Microfluidics

Others

Global Biochips Market – By End user

Hospitals & Diagnostics Centers

Academic & Research Institutes

Biotechnology & Pharmaceutical Companies

Others

Global Biochips Market - By Region

North America

South America

Europe

Asia

Middle East & Africa