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Biochips Market Set for 18.4% CAGR to 2020 Driven by Growing Applications of Biochips

Sunday, May 8, 2016 Indian Health News J E 4
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Growing applications of biochips and technological advancements is pushing biochips market along with increasing adoption of personalized medicine according to this new research report. North America accounted for the largest share of the market in 2015. It forecasts the market to reach $17.75 billion by 2020 from $7.63 billion in 2015, at a CAGR of 18.4% from 2015 to 2020.

PUNE, India, May 8, 2016 /PRNewswire-iReach/ -- In this report, the biochips market is segmented on the basis of type, application, fabrication technology, end user, and region. Based on type, the market is segmented into DNA chips, lab-on-a-chip, protein chips, and other arrays. The other arrays segment includes cell arrays and tissue arrays. A biochip is an assembly of miniaturized test sites arranged on a solid substrate that permits many tests to be performed at the same time in order to achieve higher throughput.Complete report on biochips market spread across 170 pages, profiling 10 companies and supported with 76 tables and 69 figures is now available at http://www.rnrmarketresearch.com/biochips-market-by-type-dna-chip-genomics-drug-discovery-gene-expression-lab-on-a-chip-ivd-poc-proteomics-protein-chips-end-user-academics-institutes-diagnostics-centers-fabrication-technology-micr-st-to-2020-market-report.html.

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Based on end users, the biochips market is categorized into four major segments, namely, hospitals & diagnostic centers, biotechnology & pharmaceutical companies, academic & research institutes, and other end users (blood banks, CROs, forensic labs, point-of-care settings, home health agencies, nursing homes, and local public health laboratories). Similarly, based on fabrication technology, the biochips market is segmented into microarrays and microfluidics.    

The growing applications of biochips and technological advancements will boost the growth of the biochips market along with increasing adoption of personalized medicine. However, unclear regulatory guidelines, high instrumentation costs, and absolute quantification of specific mRNA may restrain the market growth to a certain extent. On the other hand, developing countries are expected to offer significant growth opportunities for players operating in the biochips market.

From an insight perspective, biochips market research report focuses on various levels of analysis - industry analysis (industry trends) and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the biochips market; high-growth regions; and market drivers, restraints, and opportunities.

The major players in biochips market include Agilent Technologies, Inc. (U.S.), PerkinElmer Inc. (U.S.), Fluidigm Corporation (U.S.), Illumina, Inc. (U.S.), GE Healthcare (U.S.), Bio-Rad Laboratories Inc. (U.S.), Cepheid Inc. (U.S.), and Thermo Fisher Scientific, Inc. (U.S.). Make an Inquiry on "Biochips Market by Type (DNA Chip (Genomics, Drug Discovery, Gene Expression) Lab-on-a-chip (IVD & POC, Proteomics), Protein Chips), End user (Academics Institutes, Diagnostics Centers), Fabrication Technology (Microarrays, Microfluidics) - Forecast to 2020" research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=540643.

On a related note, another research titled Microfluidics Market Global Forecast to 2020 says, the global microfluidics market is expected to grow at a significant CAGR of around 19% during the forecast period (2015 to 2020). Asia-Pacific is expected to be the fastest-growing region during the forecast period owing to the rapidly aging population, increased accessibility to healthcare facilities, and rising R&D and healthcare expenditure. Companies like Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Agilent Technologies, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), and PerkinElmer, Inc. (U.S.) have been profiled in this 200 pages research report available at http://www.rnrmarketresearch.com/microfluidics-market-by-materials-polymers-silicon-glass-pharmaceuticals-microreactors-toxicity-screening-lab-on-chip-proteomic-genomic-analysis-drug-delivery-devices-microneedles-microp-market-report.html.

Explore more reports on Biotechnology market at http://www.rnrmarketresearch.com/reports/life-sciences/biotechnology.

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