Product Code: GVR-1-68038-077-4
Biochips Market Growth & Trends
The global biochips market size is expected to reach USD 25.92 billion by 2030, registering a CAGR of 12.66% during the forecast period, according to a new report by Grand View Research, Inc. The rising requirement for drug discovery and development coupled with the adoption of personalized medicine is likely to favor the industry's growth. Furthermore, the rise in the implementation of next-generation sequencing by biotechnology companies around the globe is pushing product demand. For instance, in December 2021, Abbott received CE Mark for the i-STAT TBI Plasma test, a portable analyzer for Traumatic Brain Injury (TBI) blood. Hence, the company is permitted to expand its footprint in the European Union. The innovation in sequencing techniques has allowed researchers to decode DNA molecules up to the level of the complete human genome.
Ion Torrent chip by Thermo Fisher Scientific is one of the technologies based on sequencing by the technique of synthesis. The chip is an advancement in the Next-Generation Sequencing (NGS) technology that makes massively parallel sequencing cost-effective for every lab. Hence, the development of biochips to enhance the NGS application is anticipated to support the growth of the industry. Similarly, increasing government-based initiatives to promote the domestic production of biochips is likely to support the growth in the coming years. This strategic initiative is to match the local demand for the product with the supply. For instance, in July 2022, SiPhox, Inc. received a grant worth USD 681,631 from the Baker-Polito Administration.
The financial support is to accelerate the development of a manufacturing facility for the mass production of pluggable photonic biochips. It is estimated to accelerate the output to around 5,000 biochips per month from around 100 per month to match the rising demand from biotech segments including drug discovery, vaccine development, and distributed diagnostics. Such investments are likely to supplement the industry growth in the coming years. The COVID-19 pandemic is estimated to have a positive impact on industry growth during the forecasted period. Various companies collaborated to develop innovative solutions to deal with the pandemic. For instance, in March 2020, SkyWater Technology announced the collaboration with MGI, to supply essential components for COVID-19 sequencing, including microfluidic MEMS devices.
The growing requirement for personalized medicine is likely to become a key application area for the industry in the coming years. Since biochip is emerging as an important component in molecular diagnostics, their use in point-of-care diagnostics is anticipated to smooth the development of personalized medicines. In addition, gene expression profiling through microarrays is expected to enhance the progress of personalized treatment for cancer based on molecular classification. However, the cost involved in the manufacturing of biochips is considerably high, resulting in high pricing for end-users. For instance, Josep Carreras Leukaemia Research Institute (IJC) provides microarray to researchers. The cost of GeneChip Human Gene 2.0 ST for whole-transcript expression analysis & profiling ranges from USD 456 to 593 for fresh samples.
Biochips Market Report Highlights
- The DNA chips type segment accounted for the largest revenue share in 2022 due to the high demand for rapid and accurate detection of cancer
- The drug discovery application segment for lab-on-chip is anticipated to grow at a faster rate during the forecast period as the biochip helps lower the overall cost of drug discovery & development
- The biotechnology and pharmaceutical companies end-user segment captured a significant revenue share in 2022 due to the need for personalized medicines along with the increasing drug discovery & development
- North America held the largest revenue share in 2022 owing to high R&D investment coupled with the accessibility of capital through venture capitalists for startups and the application development of biochips in the region
- Asia Pacific is projected to register the fastest CAGR from 2023 to 2030 owing to various initiatives by local governments to promote domestic product manufacturing
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.1.1. Segment Definitions
- 1.2. Information Procurement
- 1.3. Information Or Data Analysis
- 1.4. Market Scope & Segment Definition
- 1.5. Market Model
- 1.5.1. Market Study, By Company Market Share
- 1.5.2. Regional Analysis
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent Market Outlook
- 3.1.2. Related/Ancillary Market Outlook
- 3.2. Market Dynamics
- 3.2.1. Market Driver Analysis
- 3.2.1.1. Increase in adoption of next-generation sequencing
- 3.2.1.2. Growing R&D in proteomics and genomics
- 3.2.1.3. Presence of an extensive drug-development pipeline
- 3.2.1.4. Increasing adoption of personalized medicine
- 3.2.1.5. Rapid technological advances in biochip technology
- 3.2.2. Market Restraint Analysis
- 3.2.2.1. High cost of manufacturing
- 3.2.2.2. Lack of knowledge regarding biochips
- 3.3. Industry Analysis Tools
- 3.3.1. Porter's Five Forces Analysis
- 3.3.2. PESTEL Analysis
- 3.3.3. COVID-19 Impact Analysis
Chapter 4. Type Business Analysis
- 4.1. Biochip Market: Type Movement Analysis
- 4.2. DNA Chips
- 4.2.1. DNA Chips Market, 2018 - 2030 (USD Million)
- 4.2.2. Cancer Diagnosis and Treatment
- 4.2.2.1. Cancer Diagnosis and Treatment Market, 2018 - 2030 (USD Million)
- 4.2.3. Gene Expression
- 4.2.3.1. Gene Expression Market, 2018 - 2030 (USD Million)
- 4.2.4. SNP Genotyping
- 4.2.4.1. SNP Genotyping Market, 2018 - 2030 (USD Million)
- 4.2.5. Genomics
- 4.2.5.1. Genomics Market, 2018 - 2030 (USD Million)
- 4.2.6. Drug Discovery
- 4.2.6.1. Drug Discovery Market, 2018 - 2030 (USD Million)
- 4.2.7. Agricultural Biotechnology
- 4.2.7.1. Agricultural Biotechnology Market, 2018 - 2030 (USD Million)
- 4.2.8. Others
- 4.2.8.1. Others Market, 2018 - 2030 (USD Million)
- 4.3. Protein Chips
- 4.3.1. Protein Chips Market, 2018 - 2030 (USD Million)
- 4.3.2. Proteomics
- 4.3.2.1. Proteomics Market, 2018 - 2030 (USD Million)
- 4.3.3. Expression Profiling
- 4.3.3.1. Expression Profiling Market, 2018 - 2030 (USD Million)
- 4.3.4. Diagnostics
- 4.3.4.1. Diagnostics Market, 2018 - 2030 (USD Million)
- 4.3.5. HTS
- 4.3.5.1. HTS Market, 2018 - 2030 (USD Million)
- 4.3.6. Drug Discovery
- 4.3.6.1. Drug Discovery Market, 2018 - 2030 (USD Million)
- 4.3.7. Others
- 4.3.7.1. Others Market, 2018 - 2030 (USD Million)
- 4.4. Lab-on- chips
- 4.4.1. Lab-on- Chips Market, 2018 - 2030 (USD Million)
- 4.4.2. Genomics
- 4.4.2.1. Genomics Market, 2018 - 2030 (USD Million)
- 4.4.3. IVD & POC
- 4.4.3.1. IVD & POC Market, 2018 - 2030 (USD Million)
- 4.4.4. Proteomics
- 4.4.4.1. Proteomics Market, 2018 - 2030 (USD Million)
- 4.4.5. Drug Discovery
- 4.4.5.1. Drug DiscoveryMarket, 2018 - 2030 (USD Million)
- 4.4.6. Others
- 4.4.6.1. Others Market, 2018 - 2030 (USD Million)
- 4.5. Tissue Arrays
- 4.5.1. Tissue Arrays Market, 2018 - 2030 (USD Million)
- 4.6. Cell Arrays
- 4.6.1. Cell Arrays Market, 2018 - 2030 (USD Million)
Chapter 5. End-Use Business Analysis
- 5.1. Biochip Market: End-Use Movement Analysis
- 5.2. Academic and Research Institutes
- 5.2.1. Academic and Research Institutes Market, 2018 - 2030 (USD Million)
- 5.3. Pharmaceutical & Biotechnology Companies
- 5.3.1. Pharmaceutical & Biotechnology Companies Market, 2018 - 2030 (USD Million)
- 5.4. Hospitals and Diagnostics Centers
- 5.4.1. Hospitals and Diagnostics Centers Market, 2018 - 2030 (USD Million)
- 5.5. Others
- 5.5.1. Others Market, 2018 - 2030 (USD Million)
Chapter 6. Regional Business Analysis
- 6.1. Biochip Market Share By Region, 2022 & 2030
- 6.2. North America
- 6.2.1. SWOT Analysis
- 6.2.2. North America Biochip Market, 2018 - 2030 (USD Million)
- 6.2.3. U.S.
- 6.2.3.1. Key Country Dynamics
- 6.2.3.2. Target Disease Prevalence
- 6.2.3.3. Competitive Scenario
- 6.2.3.4. U.S. Biochip Market, 2018 - 2030 (USD Million)
- 6.2.4. Canada
- 6.2.4.1. Key Country Dynamics
- 6.2.4.2. Target Disease Prevalence
- 6.2.4.3. Competitive Scenario
- 6.2.4.4. Canada Biochip Market, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. SWOT Analysis
- 6.3.2. Europe Biochip Market, 2018 - 2030 (USD Million)
- 6.3.3. UK
- 6.3.3.1. Key Country Dynamics
- 6.3.3.2. Target Disease Prevalence
- 6.3.3.3. Competitive Scenario
- 6.3.3.4. UK Biochip Market, 2018 - 2030 (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Key Country Dynamics
- 6.3.4.2. Target Disease Prevalence
- 6.3.4.3. Competitive Scenario
- 6.3.4.4. Germany Biochip Market, 2018 - 2030 (USD Million)
- 6.3.5. France
- 6.3.5.1. Key Country Dynamics
- 6.3.5.2. Target Disease Prevalence
- 6.3.5.3. Competitive Scenario
- 6.3.5.4. France Biochip Market, 2018 - 2030 (USD Million)
- 6.3.6. Italy
- 6.3.6.1. Key Country Dynamics
- 6.3.6.2. Target Disease Prevalence
- 6.3.6.3. Competitive Scenario
- 6.3.6.4. Italy Biochip Market, 2018 - 2030 (USD Million)
- 6.3.7. Spain
- 6.3.7.1. Key Country Dynamics
- 6.3.7.2. Target Disease Prevalence
- 6.3.7.3. Competitive Scenario
- 6.3.7.4. Spain Biochip Market, 2018 - 2030 (USD Million)
- 6.3.8. Denmark
- 6.3.8.1. Key Country Dynamics
- 6.3.8.2. Target Disease Prevalence
- 6.3.8.3. Competitive Scenario
- 6.3.8.4. Denmark Biochip Market, 2018 - 2030 (USD Million)
- 6.3.9. Sweden
- 6.3.9.1. Key Country Dynamics
- 6.3.9.2. Target Disease Prevalence
- 6.3.9.3. Competitive Scenario
- 6.3.9.4. Sweden Biochip Market, 2018 - 2030 (USD Million)
- 6.3.10. Norway
- 6.3.10.1. Key Country Dynamics
- 6.3.10.2. Target Disease Prevalence
- 6.3.10.3. Competitive Scenario
- 6.3.10.4. Norway Biochip Market, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. SWOT Analysis
- 6.4.2. Asia Pacific Biochip Market, 2018 - 2030 (USD Million)
- 6.4.3. Japan
- 6.4.3.1. Key Country Dynamics
- 6.4.3.2. Target Disease Prevalence
- 6.4.3.3. Competitive Scenario
- 6.4.3.4. Japan Biochip Market, 2018 - 2030 (USD Million)
- 6.4.4. China
- 6.4.4.1. Key Country Dynamics
- 6.4.4.2. Target Disease Prevalence
- 6.4.4.3. Competitive Scenario
- 6.4.4.4. China Biochip Market, 2018 - 2030 (USD Million)
- 6.4.5. India
- 6.4.5.1. Key Country Dynamics
- 6.4.5.2. Target Disease Prevalence
- 6.4.5.3. Competitive Scenario
- 6.4.5.4. India Biochip Market, 2018 - 2030 (USD Million)
- 6.4.6. Australia
- 6.4.6.1. Key Country Dynamics
- 6.4.6.2. Target Disease Prevalence
- 6.4.6.3. Competitive Scenario
- 6.4.6.4. Australia Biochip Market, 2018 - 2030 (USD Million)
- 6.4.7. Thailand
- 6.4.7.1. Key Country Dynamics
- 6.4.7.2. Target Disease Prevalence
- 6.4.7.3. Competitive Scenario
- 6.4.7.4. Thailand Biochip Market, 2018 - 2030 (USD Million)
- 6.4.8. South Korea
- 6.4.8.1. Key Country Dynamics
- 6.4.8.2. Target Disease Prevalence
- 6.4.8.3. Competitive Scenario
- 6.4.8.4. South Korea Biochip Market, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. SWOT Analysis
- 6.5.2. Latin America Biochip Market, 2018 - 2030 (USD Million)
- 6.5.3. Brazil
- 6.5.3.1. Key Country Dynamics
- 6.5.3.2. Target Disease Prevalence
- 6.5.3.3. Competitive Scenario
- 6.5.3.4. Brazil Biochip Market, 2018 - 2030 (USD Million)
- 6.5.4. Mexico
- 6.5.4.1. Key Country Dynamics
- 6.5.4.2. Target Disease Prevalence
- 6.5.4.3. Competitive Scenario
- 6.5.4.4. Mexico Biochip Market, 2018 - 2030 (USD Million)
- 6.5.5. Argentina
- 6.5.5.1. Key Country Dynamics
- 6.5.5.2. Target Disease Prevalence
- 6.5.5.3. Competitive Scenario
- 6.5.5.4. Argentina Biochip Market, 2018 - 2030 (USD Million)
- 6.6. MEA
- 6.6.1. SWOT Analysis
- 6.6.2. MEA Biochip Market, 2018 - 2030 (USD Million)
- 6.6.3. South Africa
- 6.6.3.1. Key Country Dynamics
- 6.6.3.2. Target Disease Prevalence
- 6.6.3.3. Competitive Scenario
- 6.6.3.4. South Africa Biochip Market, 2018 - 2030 (USD Million)
- 6.6.4. Saudi Arabia
- 6.6.4.1. Key Country Dynamics
- 6.6.4.2. Target Disease Prevalence
- 6.6.4.3. Competitive Scenario
- 6.6.4.4. Saudi Arabia Biochip Market, 2018 - 2030 (USD Million)
- 6.6.5. UAE
- 6.6.5.1. Key Country Dynamics
- 6.6.5.2. Target Disease Prevalence
- 6.6.5.3. Competitive Scenario
- 6.6.5.4. UAE Biochip Market, 2018 - 2030 (USD Million)
- 6.6.6. Kuwait
- 6.6.6.1. Key Country Dynamics
- 6.6.6.2. Target Disease Prevalence
- 6.6.6.3. Competitive Scenario
- 6.6.6.4. Kuwait Biochip Market, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Company Categorization
- 7.2. Strategy Mapping
- 7.3. Company Market Share Analysis, 2022
- 7.4. Company Profiles/Listing
- 7.4.1. Thermo Fisher Scientific, Inc
- 7.4.1.1. Overview
- 7.4.1.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.1.3. Product Benchmarking
- 7.4.1.4. Strategic Initiatives
- 7.4.2. Agilent Technologies, Inc.
- 7.4.2.1. Overview
- 7.4.2.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.2.3. Product Benchmarking
- 7.4.2.4. Strategic Initiatives
- 7.4.3. PerkinElmer Inc.
- 7.4.3.1. Overview
- 7.4.3.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.3.3. Product Benchmarking
- 7.4.3.4. Strategic Initiatives
- 7.4.4. Illumina, Inc.
- 7.4.4.1. Overview
- 7.4.4.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.4.3. Product Benchmarking
- 7.4.4.4. Strategic Initiatives
- 7.4.5. Bio-Rad Laboratories, Inc.
- 7.4.5.1. Overview
- 7.4.5.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.5.3. Product Benchmarking
- 7.4.5.4. Strategic Initiatives
- 7.4.6. Standard BioTools
- 7.4.6.1. Overview
- 7.4.6.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.6.3. Product Benchmarking
- 7.4.6.4. Strategic Initiatives
- 7.4.7. GE Healthcare
- 7.4.7.1. Overview
- 7.4.7.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.7.3. Product Benchmarking
- 7.4.7.4. Strategic Initiatives
- 7.4.8. LI-COR, Inc.
- 7.4.8.1. Overview
- 7.4.8.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.8.3. Product Benchmarking
- 7.4.8.4. Strategic Initiatives
- 7.4.9. QIAGEN
- 7.4.9.1. Overview
- 7.4.9.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.9.3. Product Benchmarking
- 7.4.9.4. Strategic Initiatives
- 7.4.10. Randox Laboratories Ltd
- 7.4.10.1. Overview
- 7.4.10.2. Financial Performance (Net Revenue/Sales/EBITDA/Gross Profit)
- 7.4.10.3. Product Benchmarking
- 7.4.10.4. Strategic Initiatives