The Global Market for Biochips is Projected to Reach US$10.7 Billion by 2020

Increasing Application of Biochips in Advanced Diagnostics & Research to Drive the Biochips Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry trends, growth drivers, market size, and demand forecasts for the global Biochips market. The global market for biochips is projected to reach US$10.7 billion by 2020, driven by the rising incidence of diseases, demand for advanced diagnostic solutions, and new uses of biochips in drug discovery and diagnostics.

Biochips, which are test probes attached onto a small plastic or silicon substrate, are highly useful in rapid detection of biological pathogens. Biochips provide exceptional resource, cost, and time savings, by eliminating the need for several single-analyte assays, multiple blood draws, and higher reagent volumes. Lab-on-a-chip devices, involving the integration of multiple lab functions on a small chip, have been a major innovation in the biochips industry. Biochips employing nucleic acid probes are called gene chips, while those using antibody probes are called protein biochips. Protein biochips represent a market segment with high growth potential, aided by technological advancements, increasing incidence of cancer and lifestyle diseases, and the rising demand for personalized medicine. Major factors boosting the DNA microarray market are the emerging technologies, declining average prices of instruments and services, and shift towards outsourced services. Developing countries, with low manufacturing costs and high population favouring widespread clinical trials, offer good market for DNA microarrays and the overall biochips market.

Biochip technology is also expected to be employed widely in personalized medicine. In the coming years, accurate human genome mapping and next-generation gene sequencing are expected to emerge as two major segments in the area of personalized medicine. This forecast would be realized by the evolution of a broad range of devices for point-of-care testing and innovations in the area of lab-on-a-chip. In addition, drug manufacturers are looking for ways to test drug candidates in a cost-efficient and accurate manner, and biochips fit the bill. Advanced technologies, such as bio-printed tissues and organs-on-chips, hold tremendous potential for effectively determining drug safety for various medical conditions.

As stated by the new market research report on Biochips, the United States represents the largest market, with about 42% share of the global market in 2015. Asia-Pacific represents the fastest growing market for biochips, with an estimated compounded annual growth rate of 18.6% over the analysis period of 2014-2020. The Asian market for biochips is driven by higher investment and funding for biotechnological R&D, and outsourcing operations of global pharmaceutical players to this region, due to a manufacturing cost advantage. Apart from applications in disease diagnostics, and in biochemical, protein and toxicology research, biochips are also useful to detect non­microbial contaminants in food, including pesticides and aflatoxins. The technology is also capable of identifying biological warfare agents, and faster identification of crime suspects. Law enforcement officials, food industry, sport agencies, and hospitals, among others, are increasingly using biochips for the detection of pathogens, metabolites, doping agents, and illicit drugs.

Major players covered in the report include Affymetrix Inc., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Cepheid Inc., Fluidigm Corporation, GE Healthcare Ltd., Hoffman-La-Roche Ltd., Illumina Inc., Ocimum Biosolutions Ltd., PerkinElmer Inc., Takara Bio  Inc. (and Clontech Laboratories Inc.), and Thermo Fisher Scientific Inc., among others.

The research report titled “Biochips: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the market trends, market issues, growth drivers, and strategic industry activity of global companies.  The report provides market estimates and projections for major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America, and Rest of World. Key segments analyzed include DNA Biochips, Protein Biochips, Lab-on-a-Chip, and Others. The global biochips market is also analyzed by applications, including Research, Diagnostics, and others.

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