The Global Biochip Market size was valued at USD 11.42 Billion in 2020 and is forecast to reach USD 27.51 Billion, at a CAGR of 11.7% through 2028, according to a new report by Reports and Data. The market growth is driven by increasing application of biochip in proteomics, genomics, and drug discovery, coupled with high investment in RD.

Biochip technologies have a significant impact on genomic research. Various fields such as drug discovery, gene discovery, medical diagnostics, and toxicological research, are benefitting from the use of biochip technologies. Biochip technology is expensive, and its high cost is associated with the complexity of technology, various resources and extensive RD that goes in for the product manufacturing. Several research institutes are focusing on enhancing the precision of the product while reducing costs and time.  Rise in RD investment, government funding and high potential in untapped markets is expected to offer lucrative growth opportunities for the biochip market.

Top Companies Profiled in the Report Include:

BioMrieux S.A., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, HORIBA, Ltd., PerkinElmer, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., and Randox Laboratories Ltd., among others.

Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.  

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Biochip market in these key regions.

Country-wise regional analysis covers:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • U.K.
  • BENELUX
  • Italy
  • Spain
  • Switzerland
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • U.A.E.
  • South Africa
  • Turkey
  • Rest of MEA

Additionally, the report consists a detailed analysis of the segmentation of the Biochip  market based on product types and end-use/application offered in the Biochip  market.

Product Outlook (Revenue, USD Billion; 2020-2028)

• DNA Chip
• Lab-on-chip
• Protein Chip
• Others

Technology Outlook (Revenue, USD Billion; 2020-2028)

• Microfluidics
• Microarray

Substrate Materials Outlook (Revenue, USD Billion; 2020-2028)

• Glass
• Polymers
• Silicon
• Others

Applications Outlook (Revenue, USD Billion; 2020-2028)

• Genomics
• Proteomics
• Drug Discovery and Developments
• In Vitro Diagnostics
• Disease Diagnostics
• Agriculture

End Users Outlook (Revenue, USD Billion; 2020-2028)

• Pharmaceutical and Biotechnology Company
• Academic and research institute
• Hospitals and diagnostic centers
• Other end users

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.