Global $17.85 Billion Biochips (Microarrays/Microfluidics) Market 2017 - Forecasts to 2023

Dublin, June 27, 2017 -- Research and Markets has announced the addition of the "Biochips (Microarrays/Microfluidics) Global Market - Forecast to 2023" report to their offering.

The global biochips market is expected to grow at double digit CAGR to reach $17,851.1 million by 2023

Biochips market is mainly classified into technologies, products, application and end-users. The global biochips market is broadly classified as micro arrays and microfluidics based on technology.

Revolution in the field of genomics, proteomics as well as rapid drug discovery increased the demand for biochips. In addition, increase in diagnosis and treatment of cancer and genetic diseases, approval for personalized medicines and invention of novel technologies in biochips drives the market of biochips. Standardization and quality assurance of biochips, technological ease in handling the biochips especially in the areas of diagnosis and treatment, high cost along with ethical and social issues hinders the market growth.

Lifestyle changes owing to increase in cancer, diabetes and hypertension patients, early diagnosis and treatment of diseases, advancement of biochips with its wide application areas shows that biochip market has vast opportunities in the coming years.

North America accounts for the highest market share in 2016 and followed by Europe. Steep rise in genetic diagnosis, huge corporate outsourcing for drug discovery, increase in personalized medicines and favourable government policies makes U.S. the leader of Biochips market. However, Asian countries especially China and Japan are the fastest growing regions with its growing demand for biochips and increasing research investments.

Factors Influencing Market

Drivers and Opportunities

• Increase in Usage of Biochips in Cancer Diagnostics
• Biochips Preference in Personalized Medicine
• Widening Application Market
• Emerging Asia Pacific Market
• Increased Government Funding

Restraints and Threats

• High Cost of Biochips
• Lack of Standardization
• Limited Skilled Personnel to Work on Biochips
• Stringent Regulations
• Adoption of Ngs

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Market Analysis

4 Biochips Global Market, by Technology

5 Biochips Global Market, by Products

6 Biochips Global Market, by Applications

7 Biochips Global Market, by End-Users

8 Regional Market Analysis

9 Competitive Landscape

10 Major Companies

• Abbott Laboratories
• Agilent Technologies, Inc.
• Becton Dickinson and Company
• Bio-Rad Laboratories
• Danaher Corporation
• Fluidigm Corporation
• GE Healthcare
• Illumina, Inc.
• Perkinelmer, Inc.
• Thermofisher Scientific Inc.
  

For more information about this report visit https://www.researchandmarkets.com/research/hwq6d3/biochips

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