Biochips - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Biochips - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Biochips Market By Type (DNA Chips, Protein Chips, Lab-On-Chips, And Others), Application (Genomics And Proteomics, Drug Discovery, Diagnostics, IVD & POC, Gene Expression, And Others), End-User (Hospitals And Diagnostic Centers, Academic And Research Institutes, Pharmaceutical And Biotechnology Companies, And Others) and geography is expected to grow at a steady CAGR forecast till 2028 owing to the increasing prevalence of chronic diseases and the growing uses of biochips in clinical research around the globe during the forecast period from 2023-2028.

The global Biochips market was valued at USD XX million in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX million by 2028. The demand for biochips is primarily being boosted owing to the increasing prevalence of chronic diseases around the globe, growing applications of biochips in various clinical research studies, and the rising demand for point-of-care testing, among others, thereby contributing to the overall growth of the Biochips market during the forecast period from 2023-2028.

Biochips Market Dynamics:

In the global biochips market, the estimated high numbers of chronic and infectious diseases are expected to drive the demand for biochips in the upcoming years. Globally, chronic diseases (CDs) have been observed to be the leading causes of disability and morbidity and since these diseases are chronic, skilled healthcare expertise along with the latest treatment technologies are required to timely treat the chronic disease.

For example, an article published by the European Public Health Conference in January 2022, reported that more than 3 million people will be affected by cancer by 2030 in Europe. In addition, according to a research paper published by the Journal Plos One in March 2022, it stated that 21% of the elderly population in India had at least one chronic disease, being the leading cause of death and mortality among the geriatric population in India.

In this direction, research toward developing new lab-on-a-chip-based POC systems for the diagnosis of chronic diseases is an emerging area. Thus, a high incidence of chronic diseases is expected to drive the growth of the studied market.

Moreover, the application of biochips in biomedical and biotechnological research is growing, especially in the fields of proteomics and genomics. Proteomics is being used extensively in drug and biomarker discovery. For instance, a particular advantage of protein biochips is their tendency towards miniaturization, resulting in a low sample consumption..

Moreover, recent product development activities in the biochips market are also expected to spur the demand for biochips in the upcoming years.

For instance, In July 2023, Opteev Technologies, Inc., a pioneering technology company at the forefront of diagnostics, filed a patent for a revolutionary multiplex biochip Opteev multiplex biochip for respiratory infection diagnostics. The groundbreaking polymer-based biochip offered the potential to test multiple pathogens responsible for respiratory infections, including SARS-CoV-2, RSV, and Influenza, and precisely identify the specific virus or bacteria in under 1 minute.

Hence, the interplay of all the above-mentioned factors is anticipated to increase the overall market growth for Biochips during the forecast period from 2023 – 2028.

However, the availability of alternative technologies, and constraints associated with lab-on-chip devices, among others may restrict the growth of the overall market for Biochips during the forecast period.

Biochips Market Segment Analysis:

Biochips Market By Type (DNA Chips, Protein Chips, Lab-On-Chips, And Others), Application (Genomics And Proteomics, Drug Discovery, Diagnostics, IVD & POC, Gene Expression, And Others), End-User (Hospitals And Diagnostic Centers, Academic And Research Institutes, Pharmaceutical And Biotechnology Companies, And Others), And Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the type segment of the biochips market, the lab-on-chips category is expected to amass a significant revenue share in the year 2022. This can be ascribed to the various characteristics and advantages associated with lab-on-chips along with the adoption of personalized medicine and easy accessibility of lab-on-chip technology.

Lab-on-a-chips are biochips that are microfluidic devices conducting several laboratory functions and fluid analyses at rapid speeds designed with micro-channels smaller than a single cell, with a large surface-area-to-volume ratio where liquids follow a laminar flow pathway. Lab on a chip shows the ability to control cells at the single-cell level in seconds. It also includes applications such as micro patch clamp, control of stem cell differentiation, high-speed flow cytometry, and cell sorting. In addition, recently extensive research has been focused on using lab-on-a-chip microfluidics and highly parallelized microchemical reactors.

For example, the lab-on-chip microfluidic is emerging as a molecular biological tool for DNA/RNA amplification and detection like ELVESYS developed the world's fastest qPCR system - Fastgene. Moreover, in February 2022, Onera Health launched the Onera Biomedical-Lab-on-Chip, an ultra-low-power bio-signal sensor subsystem for wearable devices; designed to process multiple bio-signals.

Thus, due to the increasing number of clinical research, developmental activities, rising technological advancements, and adoption of personalized medicine, among others, the lab-on-a-chip biochips segment is expected to grow substantially, thus supporting the overall market growth for Biochips during the forecast period from 2023 to 2028.

North America is expected to dominate the overall Biochips Market:

Among all the regions, North America is estimated to account for the largest share of the Biochips market in the year 2022. Owing to the significance of key growth factors such as the presence of a large patient population associated with various diseases including cancers, diagnostic procedures, research activities, and government funding for the masses in North America, among others during the forecast period from 2023-2028.

Major collaborations among key players in the region are expected to drive the the demand for biochips in the upcoming years. For instance, in September 2022, the US-headquartered activities with healthcare giants that are extensively investing in R&D in microarray technology. For instance, in September 2022, Illumina Inc. launched the NovaSeq X Series, enabling faster and more powerful sustainable sequencing. The revolutionary new technology, NovaSeq X Plus could generate 20,000+ whole genomes per year, therefore accelerating genomic discovery and clinical insights to transform patient lives. Thus, such collaborative developments in the region are driving the growth of the biochips market in the region.

Moreover, the increasing incidence of chronic and lifestyle diseases in the region is also contributing to the growth of the biochips market in the North America region. For instance, as per the Canadian Cancer Statistics (2021), an estimated 229,200 Canadians were diagnosed with cancer in 2021. Similarly, according to the International Diabetes Federation (IDF), in 2021, an estimated 14 million adults in Mexico were living with diabetes. Thus, such a high number of people living with chronic and lifestyle diseases in North America is also contributing to the growth of the biochips market, by increasing the rates of their diagnosis, and treatment and opening up opportunities for their clinical research in the upcoming years.

Thus, due to the presence of key market players, the increase in chronic diseases, the development of healthcare infrastructure, and recent research activities, among others in North America is expected to witness significant growth in the biochips market over the forecast period.

Therefore, the interplay of all the above-mentioned factors is expected to aid in the growing demand for Biochips, thus driving the overall regional market for the North America Biochips.

Biochips Market Key Players:

Some of the key market players operating in the Biochips market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE Healthcare, LI-COR, Inc., Qiagen, Randox Laboratories Ltd, Abbott, F. Hoffmann La-Roche, Cepheid Inc., Fluidigm Corporation, BioMerieux SA, and others.

Recent Developmental Activities in the Biochips Market:

In June 2023, ACROBiosystems, under its Aneuro brand, announced the launch of in vivo electrophysiology solutions for neuroscience research with Diagnostic Biochips. Together, the two companies are committed to a collaborative effort to accelerate neurological drug discovery and commercialization.

In January 2022, researchers from the Universidad Carlos III de Madrid (UC3M), the Universidad Politécnica de Madrid (UPM), and other organizations innovated a new biochip device made of biocompatible and micro-machined adhesive vinyl sheets, that simplified the process of manufacturing in vitro skin in the laboratory and other complex multi-layer tissues. Human skin modeled using this device could be used in medicine and cosmetic testing, which would reduce the cost of preclinical trials.

In April 2019, Qurin Diagnostics B.V. and Lionix International B.V. acquired Surfix B.V., which is a supplier of custom-made nanocoatings, complementary to the products and services offered by Qurin and LioniX International. The companies planned on working together closely on early cancer detection using a sensitive biochip, bringing together their respective complementary technologies.

Key Takeaways from the Biochips Market Report Study

Market size analysis for current Biochips market size (2022), and market forecast for 5 years (2023-2028)

Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Biochips market.

Various opportunities available for other competitors in the Biochips market space.

What are the top-performing segments in 2022? How these segments will perform in 2028?

Which are the top-performing regions and countries in the current Biochips market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Biochips market growth in the coming future?

Target Audience who can benefit from this Biochips Market Report Study

Biochips product providers

Research organizations and consulting companies

Biochips-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Biochips

Various end-users who want to know more about chronic disorders and their related technology equipment market, along with the latest technological developments in the Biochips market.

Frequently Asked Questions for the Biochips Market:

1. What are biochips?

Biochips, also known as microchips or DNA microarrays, are similar to computerized devices that can host a large number of simultaneous biochemical reactions and thus are used as a carrier for biological samples.

2. What is the market for global Biochips?

The global Biochips market was valued at USD XX million in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX million by 2028.

3. What are the drivers for the global Biochips market?

The demand for biochips is primarily being boosted owing to the increasing prevalence of chronic diseases around the globe, growing applications of biochips in various clinical research studies, and the rising demand for point-of-care testing, among others, thereby contributing to the overall growth of the Biochips market during the forecast period from 2023-2028.

4. Who are the key players operating in the global Biochips market?

Some of the key market players operating in the Biochips market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE Healthcare, LI-COR, Inc., Qiagen, Randox Laboratories Ltd, Abbott, F. Hoffmann La-Roche, Cepheid Inc., Fluidigm Corporation, BioMerieux SA, and others.

5. Which region has the highest share in the Biochips market?

North America is expected to dominate the overall Biochips market during the forecast period from 2023-2028. Owing to the significance of key growth factors such as the presence of a large patient population associated with various diseases including cancers, diagnostic procedures, research activities, and government funding for the masses in North America, among others during the forecast period from 2023-2028.

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