The global biochips market is growing at a CAGR of nearly 13.5% during the forecast period (2024-2031). The market growth is mainly attributed to the rising technological innovations in biochips. The rising innovations in biochips have been gradually rising over the years to obtain high throughput in less time. Therefore, the new product launches of biochips have witnessed that is expected to offer researchers several choices to use biochips as per their needs. Additionally, advances in biochips support to drive next-generation DNA sequencing technologies. It is a strong combination that can solve unique and important biological problems, including rare-cell, single-cell, or rare-molecule analysis, which is not possible by using only next-generation sequencing (NGS).
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Additionally, the funding opportunity for biochips research is driving innovations in the field of biochips. For instance, in February 2021, Le Zhun Zhi Xin (Legendic), a developer of biological chips and testing platform, declared the closing of a Pre-A round of financing worth $5.4 million, led by Sinocare. The raised funds will be utilized for the development of a manufacturing facility and the development of new products. Additionally, these funds will be used to promote the marketing of the company’s biochips, procalcitonin detection kits, and instruments with the use of chemiluminescence.
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Further, in June 2020, Sengenics, Singapore based Functional Proteomics Company, declared the launch of ImmuSAFE COVID+, a multi-domain, multi-antigen, fully quantitative serology test. ImmuSAFE allows the evaluation of the target epitopes, t Ig class/sub-class (IgG, IgA, IgM; IgG1-4), and titres of antibodies developed across all stages of COVID-19 infection. These stages range from initial exposure, disease development, post-recovery, or post-vaccination. Such results will offer critical insights on whether individuals have high titres of potentially neutralizing antibodies against SARS-CoV-2 that may protect against reinfection or whether booster vaccinations are needed.
Market Coverage
- Segment Covered-
o By Type
o By Fabrication Technology
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Bio-Rad Laboratories, Inc., Illumina Inc., Danaher Corp., Agilent Technologies, Inc., and PerkinElmer Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Biochips Market Report Segment
By Type
- DNA Chips
- Lab-on-a-Chip
- Protein Chips
- Others
By Fabrication Technology
- Microarrays
- Microfluidics
By End-User
- Hospitals and Diagnostic Centers
- Academic and Research Institutes
- Biotechnology and Pharmaceutical Companies
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