Biochips Market Analysis

Type (DNA Chips, Protein Chips, Lab-on-a-Chip)

The global biochips market is segmented and analyzed for demand and supply by type into DNA chips, protein chips, Lab-on-a-Chip, and others. Out of these four segments, the DNA chips segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing use of DNA chips in several clinical diagnostic tests and research work regarding the detection of numerous disorders., coupled with the significant rise in the development of DNA chips in recent years. For instance, in 2021, Roswell Biotechnologies Inc., invented the molecular microchip that can detect an individual's molecule. The technology is expected to revolutionize disease detection, drug development, and health monitoring procedures to great extent. The chip is going to be utilized to improve DNA sequencing. In addition to this, the surge in various types of cancer cases throughout the world is another major factor that is anticipated to accelerate the segment growth as DNA chips are highly useful, and deliver more precise results in the detection of cancer, as well as these chips deliver highly efficient treatment assistance for cancer.

End-user (Pharmaceuticals, Hospitals & Diagnostic Centers, Academic Research Institutes)

The global biochips market is also segmented and analyzed for demand and supply by end-user into pharmaceuticals, hospitals & diagnostic centers, academic research institutes, and others. Amongst these segments, the hospitals and diagnostic center segment is expected to garner a significant share. The growth of the segment can be accredited to the increasing need for advanced medical facilities, diagnosis technologies, and a growing patient pool. On the other hand, the pharmaceutical segment is projected to witness an impressive CAGR during the forecast period, owing to the higher indulgence of pharmaceutical companies in the research and development of biochips and their integration. In addition to this, these pharmaceutical organizations have also been exploring new heights with the deployment of biochips in the process of novel drug discovery, research, and development of novel biomarkers, and gene expression profiling. As a result, this factor is also estimated to create numerous opportunities for the growth of the segment in the coming years.

Our in-depth analysis of the global market includes the following segments: