New York, NY -- (SBWire) -- 12/08/2020 --Reports and Data has recently added a report titled Biochip Market Report Forecast to 2026 to its repository, which comprises of data relating to the market size, share, value, and volume, production processes, revenue generation, the regional analysis of the business vertical, along with the outcomes of analytical tools including, SWOT analysis and Porter's Five Forces analysis. The report highlights the growth opportunities and challenges that industry players might encounter in the forecast years, along with an elaborate competitive landscape and expansion strategies adopted by the companies functioning in the Biochip Testing Market.
The Global Biochip Market size is estimated to exhibit a CAGR of 11.7%, reaching USD 108.34 Billion in terms of revenue by 2027 from USD 10.28 Billion in 2019. A growing need to miniaturize biological, clinical tests for research & diagnosis and reduce turnaround time will drive biochip market growth over the forecast period. The ability of biochips to reduce both cost and time, along with delivering high throughput without the requirement for heavy or bulky instruments, will bolster product proliferation.
The report includes the latest coverage of the impact of COVID-19 on the Biochip industry. The incidence has affected nearly every aspect of the business domain. This study evaluates the current scenario and predicts future outcomes of the pandemic on the global economy.
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Key participants include
bioMrieux S.A., F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Fluidigm Corporation, Illumina, Inc., HORIBA, Ltd., PerkinElmer, Inc., QIAGEN N.V., Randox Laboratories Ltd., and Thermo Fisher Scientific Inc. among others.
The research segments the market based on product type, applications and end-use. It profiles the key players of the business and their individual contribution to the global economy. The report focuses on significant investments, business ventures, mergers, acquisitions, collaborations along with the technological developments in the field. It also evaluates the upcoming and niche areas in the business. The researcher aims to offer expert insights related to the industry and the new opportunities available in the market.
For the purpose of this report, Reports and Data have segmented global Biochip Market on the basis of Vehicle type, communication type, technology type, application, offering type, propulsion types, and region:
Product Outlook (Revenue, USD Billion; 2016-2026)
DNA Chip
Lab-on-chip
Protein Chip
Others
Technology Outlook (Revenue, USD Billion; 2016-2026)
Microfluidics
Microarray
Substrate Materials Outlook (Revenue, USD Billion; 2016-2026)
Glass
Polymers
Silicon
Others
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Applications Outlook (Revenue, USD Billion; 2016-2026)
Genomics
Proteomics
Drug Discovery and Developments
In Vitro Diagnostics
Disease Diagnostics
Agriculture
End Users Outlook (Revenue, USD Billion; 2016-2026)
Pharmaceutical and Biotechnology Company
Academic and research institute
Hospitals and diagnostic centers
Other end users
The key geographical regions analyzed in the report are:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggests
Wide applications of DNA chip in biotechnology and drug discovery led the market to hold the largest market share of 35% in the year 2018.
Improvement in the field of recombinant proteins also support the growth of the Protein chip segment. It is forecasted to hold the highest annual growth rate of 12.8% throughout the forecast period.
Microfluidics dominates the market with a share of 53% in the year 2018. The growth in demand for point-of-care diagnostic devices such as pregnancy test kits and glucose monitoring is forecasted to boost the microfluidics segment.
Glass segment held the largest market share of 33% in the year 2018. Polymers segment held the largest market share of 26% in the year 2018.
Compared with polymer-based biochips, glass-based substrates are less sensitive to heat and organic environments.
Biochip technologies have a significant impact on genomic research. Various fields such as gene discovery, drug discovery, toxicological research, and medical diagnostics, will benefit from the use of biochip technologies.
The factors which affect the market are meticulously studied in the report:
Estimation of the total size of the market and the key trends it has projected over the years.
Examination of the market based on the range of products, applications, and market shares.
Analysis of the market on the basis of end-users and applications and focus on the growth rate of each application.
The reasons to buy the Biochip Market Report are:
Present scenario of the market and accurate speculation of the future trends are provided in the report.
Proper explanations using segmentation and thus increasing comprehensibility.
Regions that exhibit promising growth in the coming years.
Meticulous studying of different strategies employed by the key players in the Biochip market.
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Biochip Market Size, Share, Industry Key Features, Growth Drivers, Key Expansion Strategies, Upcoming Trends and Regional Forecast by 2027: Reports And Data
Biochip Market revenue share, delivering a CAGR of nearly 12.9% through the forecast period.