Biochips Market to See Competition Rise | Perkinelmer, Fluidigm, Agilent Technologies
Published Via 11Press : According to HTF MI, “Global Biochips Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2029″. The Global Biochips Market is anticipated to grow at a compound annual growth rate (CAGR) of 13.35% from 2023 to 2028, reaching USD 7.92 Billion in 2023 and USD 13.35 Billion by 2028.
Biochips are little laboratories capable of doing many biological operations at once. Biochips are divided into four functional categories: DNA chips, protein chips, labs-on-a-chip, and tissue and cell arrays. A microscope slide comprised of materials like glass, silicon chips, and nylon membrane, which is printed with several tiny spots, is what makes up DNA chips, biochips, or DNA microarrays. These areas contain a recognizable gene or DNA sequence in a systematic order.
The nucleic acid hybridization principle is used by DNA microarrays, which come in a variety of forms including cDNA microarrays, Oligo DNA microarrays, BAC microarrays, and SNP microarrays. By decreasing the time and costs associated with the conventional laboratory-based research methodology, microfluidics, and microarray technologies have completely revolutionized the field of scientific research.
In comparison to conventional laboratory methods, microfluidics offers advantages including lower assay costs because they require considerably less pattern material in nano- or pico-liter volumes, lower labor costs, and increased sensitivity, accuracy, and throughput.
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Key and developing players who have been highlighted as part of the coverage
- Perkinelmer, Inc. (United States),
- Fluidigm Corporation (United States),
- Agilent Technologies, Inc. (United States),
- Abbott Laboratories (United States),
- Bio-Rad Laboratories Inc. (United States),
- Cepheid Inc. (United States),
- Illumina, Inc. (United States),
- GE Healthcare (United States),
- Thermo Fisher Scientific, Inc. (United States),
- Roche Diagnostics (Switzerland).
Market Drivers
- Growing Use of Biochips for Allergy Detection: Many people have experienced food, pollen, and other hypersensitive reactions that cause fever, skin rashes, vomiting, asthma attacks, and diarrhea.
- Allergy testing biochips are a brand-new technical innovation that is now evolving rapidly. It has quite a few allergen components that can be seen in a microarray.
- This enables many analyses of sensitization patterns particular to patients in a single assessment. Because of how easily hypersensitivity may be looked up on biochips, organizations are encouraging the development of new technologies.
- For instance, Toray Industries announced in April 2021 that it experienced an allergic reaction while experimenting with biochips that can detect a few allergen-specific immunoglobin E (IgE) antibodies from minute amounts of blood.
- Throughout the forecast period, the rising use of biochips for allergen detection and analysis is anticipated to restrain the market growth.
Market Trend
- Microfluidics and microarray technologies have revolutionized the field of scientific research by cutting down on the time and costs associated with the traditional laboratory-based total approach to research.
- Due to the need for significantly less pattern in nano- or pico-liter volumes, microfluidics offers advantages such as lower assay costs, reduced labor costs, and increased sensitivity, precision, and throughput compared to conventional laboratory processes.
- The products based on lab-on-a-chip, protein chips, DNA microarray, and organ-on-a-chip technologies have significantly reduced current issues related to time and costs in their respective relevant domains.
- Additionally, it is projected that continued research & development into microfluidic and microarray technologies for a variety of applications will boost market growth over the projection period. For instance, Griffith Institute for Drug Discovery (GRIDD) began working to enhance the microfluidic platform in 2017 in order to reduce the amount of time and money needed for research.
Market Opportunities
- Biochips are increasingly being employed in healthcare as diagnostic tools for diseases like most malignancies since they allow doctors to examine patients’ organic strategies without performing traditional intrusive procedures like biopsies.
- They can also help identify early signs of illness before symptoms manifest, giving doctors more time to treat their patients effectively and preventing them from developing full-blown illnesses in the future. Biochips are being used increasingly frequently for diagnosis and treatment planning, enabling doctors to customize treatments specifically for male or female patients.
- This will be made possible by combining biochips with other technologies, such as computing device learning and genomics. Numerous diagnostic and therapeutic uses for biochips currently exist, and this trend will only continue in the years to come.
- We should also expect to see more biochips combined with other therapeutic technology, such as wearable sensors and artificial intelligence. Additionally, medical devices like pacemakers and insulin pumps can contain biochips.
- This trend is likely to continue in 2023 as more people choose these devices over traditional treatments like surgery or pills because they offer a higher quality of life with fewer side effects. Biochips are already being tested inside implantable medical devices like pacemakers and insulin pumps by scientists.
Market Restraints
- Probabilities of biohacking and privacy issues These days, biochips are inserted into the character’s hands to speed up their daily movements.
- These are useful for gaining entry to the house, the gym, and the office and for saving emergency contacts, and information from social media profiles, or e-tickets.
- Many people in Sweden had microchips implanted in their hands. But experts are raising concerns about the theft of personal data from biochips.
- These chips have the ability to track whereabouts, purchase histories, usage patterns, and much more, which makes them vulnerable to hacking. Chips inside the body also brought about contamination risks and a test of personal freedom.
- The United States now has a law that prohibits the forced use of biochips.
Market Challenges
- Low Awareness and High Cost Pertaining to Biochips Due to the high level of R&D and skilled developers required for biochip technology development, the cost of the finished product is high.
- The biochip machine uses glass surfaces with microscale probes formatted on them, necessitating the usage of robotic automatons to handle and scan microscale materials.
- Due to the need for exact implementation procedures and equipment, this technological know-how is very expensive.
- The high cost of production places severe restrictions on the ability of new players to enter the market and offer a wide range of options to consumers. A concern for the industry is the low level of attention given to the use of biochips in developing and emerging regions.
- The amount of biochip-based research conducted by research and educational institutions in developing countries has dropped during the past few years.
- Business expansion in the area of drug development and personalized medicine is anticipated to be constrained by a lack of knowledge among emerging companies.
- The high cost of biochips has prevented their widespread industrial usage. Additionally, the lack of awareness of biochips, particularly in developing international markets, is preventing the market from rising in terms of revenue over the projection period.
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Market Breakdown by Applications:
- DNA Chips,
- Protein Chips,
- Lab-on-a-Chip,
- Others
Market Breakdown by Types:
- Drug Discovery & Development,
- Disease Diagnostics,
- Genomics, Proteomics,
- Agriculture,
- Others
Report Scope
| The Market size value in 2023 | USD 7.92 Billion |
| Revenue Forecast by 2033 | USD 13.35 Billion |
| Growth Rate | CAGR Of 13.35% |
| Regions Covered | North America, Europe, the Middle East and Africa, Latin America, and the rest of the world |
| Historical Years | 2018-2022 |
| Base Year | 2022 |
| Estimated Year | 2023 |
| Short-Term Projection Year | 2028 |
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