Lewes, DE -- (SBWIRE) -- 05/09/2016 -- Report forecast the global biochips market to grow at a CAGR of 17.02% during the period 2016-2020.

Bio-microsystems are a group of integrated and miniaturized devices that are used in biochemical reactions and biological monitoring, diagnostics, research and development, and therapy. Some of the advantages of using bio-microsystems are integrated intelligence, parallelism, low cost, redundancy, and speed. A biochip is an example of a bio-microsystem; it is a collection of microarrays organized on a solid substrate, allowing thousands of complex biochemical reactions, including decoding genes, in less time.

The report covers the present scenario and the growth prospects of the global biochips market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of biochips for applications, including drug discovery and development, diagnostics and treatment, research and consumables, forensic medicines, and others.

The market is divided into the following segments based on geography:
- APAC
- Europe
- North America
- ROW

According to the report, a key driver which is expected to drive market growth is the adoption of biochip technology in drug discovery. The emergence of biochip technology adds a new dimension to drug discovery. Biochip, integrated with improved bioinformatics techniques and enhanced throughput screening, helps in better target identification and validation. It can produce more information on small surfaces of quartz wafers. Academic research units, industrial research bases, and pharma and biotech companies are the major end-users of this technology.

Further, the report states that challenges with standardization, reliability, accuracy, and precision issues many hinder the development of the market.

Global Biochips Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Biochips Market: Affymetrix, Agilent Technologies, Cellix, Illumina, and PerkinElmer.

Other Prominent Vendors in the market are: Biochain Institute, Bio-Rad Laboratories, Cepheid, EMD Millipore, Fluidigm, SuperBioChips Laboratories, and US Biomax.

Market driver
- Adoption of biochip technology in drug discovery
- For a full, detailed list, view our report

Market challenge
- Standardization, reliability, accuracy, and precision issues
- For a full, detailed list, view our report

Market trend
- Emergence of microarray technology
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 68 pages and 29 Exhibit "Global Biochips Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Market segmentation by application, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-biochips-market-2016-2020

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