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Forecast Period
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2024-2028
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Market Size (2022)
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USD 14.96 Billion
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CAGR (2023-2028)
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14.09%
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Fastest Growing Segment
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Drug Discovery & Development
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Largest Market
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North America
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Market Overview
Global Biochip Market has valued at USD 14.96 Billion in 2022 and is anticipated to project impressive growth in the forecast
period with a CAGR of 14.09% through 2028. Biochips are miniature medical
devices designed to perform multiple biochemical reactions simultaneously,
reducing the required time. They consist of micro-test sites or microarrays
arranged on a solid substrate. Biochips are available in various forms, including
DNA, protein, enzyme, and lab-on-a-chip. These compact and powerful devices are
user-friendly and provide accurate critical insights. They are particularly
suitable for storing personal medical and financial information and can be used
for tracking individuals. Implanted in the body, biochips assist in monitoring,
analyzing, and controlling patient health and biological processes.
Additionally, they contribute to hazard identification, ensuring a safe
environment, and improving decision-making. Consequently, biochips have
widespread applications in gene, oncology, and inflammatory diagnosis, as well
as molecular analysis worldwide.
Key Market Drivers
Growing Use of Biochips in Personalized Medicine
Biochips play a crucial role in point-of-care
diagnosis and molecular diagnostics, driving high demand for their application
in personalized medicine. These chips prove invaluable in distinguishing
between normal and cancerous cells, enabling rapid analysis of the entire
proteome for protein-based therapeutics. Moreover, they serve as reliable tools
for detecting a wide range of biomarkers with limited sample quantities,
offering immense potential in disease diagnosis and treatment. Consequently,
the demand for biochips in personalized medicine continues to soar.
The use of Biochips in molecular diagnostics and
point-of-care diagnosis is expected to create a significant demand for these
chips in advancing customized medicine. These innovative chips play a crucial
role in accurately identifying and differentiating between healthy and
malignant cells' proteins, providing valuable insights for protein-based
treatments. One of the key advantages of Biochips is their ability to
facilitate a comprehensive study of the complete proteome in a quick and
efficient manner. Their high demand in personalized medicine stems from their
reliability in identifying a wide range of indicators using a limited number of
samples, while also offering the potential for effective diagnosis and
treatment of various conditions. With their unique capabilities, Biochips are
poised to revolutionize the field of personalized medicine and contribute to
the advancement of tailored healthcare solutions.
Increased Technological Advancement
The use of Biochips in proteomics has significantly
increased alongside technological advancements. With the progress in
nanotechnology, Biochips have become even more valuable due to their enhanced
functionality, reduced size, and wider range of applications. They are now
extensively utilized in diagnostics, research, medication development, and
toxicological studies. These versatile chips find applications in genotyping,
peptides, customized medicine, and various other fields, which has fostered the
emergence of new technologies by both established manufacturers and young
entrepreneurs. As the demand for Biochips continues to grow, the market is
witnessing a surge in innovative products and funding for research and
development.
Increasing Demand for Point-of-care Testing
The increasing demand for point-of-care (POC)
testing is poised to have a significant positive impact on the demand for
biochips in the field of diagnostics and healthcare. POC testing refers to
diagnostic tests that are conducted near the patient, often at the bedside or
in outpatient settings, providing rapid results without the need for
centralized laboratory facilities. Biochips, also known as microarrays, are a
key enabler of POC testing due to their versatility, efficiency, and
suitability for miniaturized, high-throughput diagnostic applications.
POC testing can enhance access to healthcare
services, particularly in underserved or remote areas with limited access to
centralized laboratories. Biochip-based POC tests are portable and can be used
in resource-limited settings. Biochips enable the profiling of individual
patient biomarkers, allowing for personalized treatment plans tailored to a
patient's unique genetic makeup, which is a cornerstone of modern medicine.
The increasing demand for POC testing, driven by
the need for faster, more convenient, and personalized diagnostics, is expected
to boost the demand for biochips. As biochip technology continues to evolve and
adapt to emerging healthcare challenges, it is poised to play a pivotal role in
transforming the landscape of healthcare diagnostics and improving patient care
globally.
Increasing Application of Proteomics and Genomics
in Cancer Research
The increasing application of proteomics and genomics
in cancer research is poised to significantly boost the demand for biochips,
revolutionizing the way cancer is diagnosed, characterized, and treated.
Biochips, also known as microarrays, serve as powerful tools in this endeavor
due to their ability to simultaneously analyze thousands of genes or proteins
in a single experiment. Identifying reliable biomarkers for early cancer
detection, prognosis, and treatment response is essential. Biochips enable
researchers to screen large numbers of potential biomarkers quickly and
efficiently, accelerating the discovery of novel markers with diagnostic and
therapeutic significance.
Biochips play a vital role in drug discovery and
development. They facilitate the screening of compounds or therapeutic agents
against cancer-related proteins or genes, helping identify potential drug
candidates and advancing the development of targeted therapies. Biochips
enhance research efficiency by enabling researchers to analyze multiple genes
or proteins simultaneously, reducing the time and resources required for
comprehensive cancer studies.
The demand for biochips is expected to grow in
tandem with the expanding scope of cancer research and the increasing
recognition of the value of proteomics and genomics in understanding the
molecular intricacies of cancer. As precision medicine becomes more commonplace
in oncology, biochips will continue to play a pivotal role in advancing our
knowledge of cancer biology and improving patient outcomes through more
targeted and effective treatments.
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Key Market Challenges
High Chances of Biohacking and Privacy Concern
Biochips, tiny devices inserted into the hands,
have revolutionized daily routines by expediting tasks. These cutting-edge
chips offer a multitude of benefits, such as seamless access to homes, gyms,
and offices, along with the convenience of storing emergency contacts, social
media profiles, and e-tickets. Notably, Sweden has witnessed a surge in
individuals opting to have these microchips implanted in their hands. However,
scientists have raised concerns regarding potential data breaches and hacking
vulnerabilities associated with biochips. These chips have the capability to
track locations, monitor spending habits, and even record driving behaviors,
making them susceptible to unauthorized access. Moreover, the presence of chips
inside the body poses infection risks and raises questions about individual
freedom. In response to these concerns, the United States has recently
implemented regulations to prohibit the forced usage of biochips. It is
anticipated that the market's revenue growth may face constraints due to the
risks of biohacking and privacy concerns. The need for enhanced security
measures and addressing privacy issues is crucial for the sustainable growth of
this innovative industry.
High Cost and Lack of Awareness Regarding Biochips
The development of bio-chip technology is a highly
cost-intensive process. It requires extensive research and development efforts,
as well as skilled developers, which ultimately contributes to the high cost of
the end-product. The biochip system itself consists of microscale probes that
are carefully formatted on glass surfaces. These microscale samples require
precise handling and scanning, which necessitates the use of automated robotic
instruments. The complexity and specificity of the methodologies and tools
required for implementing this technology also contribute to its high cost.
Due to these factors, the commercial use of
biochips has been hindered, primarily due to the high price associated with
their production and implementation. Furthermore, there is a lack of awareness
regarding biochips, particularly in developing countries, which further limits
the potential market revenue growth during the forecast period.
Key Market Trends
Increasing Adoption of Biochips For Detecting
Allergies
Many individuals have encountered various types of
allergies, such as food, pollen, and others, resulting in a range of symptoms
including fever, skin reactions, vomiting, asthma, and diarrhea. To address
these issues, the field of allergy testing has witnessed the emergence of a
remarkable new technology known as allergy testing biochips. This technology is
currently experiencing significant growth and involves the use of microarrays
that contain different allergen components. By utilizing these biochips, healthcare
professionals are able to investigate patient-specific sensitization patterns
in a single measurement, thus enhancing the accuracy and efficiency of allergy
diagnoses.
Furthermore, the potential of biochips in allergy
research has prompted companies to invest in the development of new
technologies. For example, in April 2021, Toray Industries made an announcement
regarding the successful development of allergy testing biochips capable of
detecting multiple allergen-specific immunoglobin E (IgE) antibodies from trace
amounts of blood. This breakthrough innovation holds tremendous promise for
improving the precision and effectiveness of allergy testing.
The increasing adoption of biochips for detecting
and testing allergens is expected to be a major driver for revenue growth in
the allergy testing market throughout the forecast period. As more healthcare
providers and researchers recognize the advantages offered by this advanced
technology, its widespread implementation will revolutionize the field of
allergy diagnostics, leading to improved patient care and outcomes.
Growing Usage of Biochips in Diverse Areas
Biochip technologies are extensively utilized
across a range of fields, including microbiology, DNA analysis, clinical
pathology, pharmacology, proctology, and biochemistry, among others. Ongoing
research endeavors will drive the adoption of biochip technologies,
particularly in the healthcare industry, thus further expanding their usage in
the mainstream market in the coming years. Biochip technology is also employed
in sequence engineering, which is poised to boost the growth of the global
biochip market and enhance the performance and scalability of biochip
solutions. Manufacturers of biochips are focusing on innovating distinct
aspects of their miniature laboratories that can effectively function with
living organisms.
Biochips have emerged as a pivotal component in
revolutionizing DNA sequencing technology. Moreover, they are likely to pave
the way for advanced gene sequencing solutions. The integration of gene
sequencing technology and biochips will address various biological tissues,
enabling rare cell, single-cell, and red molecule analysis. Nevertheless, the
continuous growth of biochip technology and its expanding throughput capacity
are expected to broaden its applications, ranging from population-centric clinical
studies to the detection of rare bacteria. Manufacturers are making substantial
investments in biochips for single-cell analysis, which will contribute to the
improvement of biochips and their versatile functions, consequently enhancing
performance exponentially.
Segmental Insights
Type Insights
The global biochip market
is categorized into various types, including DNA chip, lab-on-a-chip, protein
chip, and others. Among these, lab-on-a-chip is projected to exhibit a rapid
revenue growth rate during the forecast period. This can be attributed to the
high demand for biochips in diverse applications such as proteomics, cell
biology, molecular biology, chemistry, and others. Lab-on-chip devices offer
multiple advantages, including cost efficiency, high parallelization, low
volume reagents, high expandability, and high sensitivity. These factors are
anticipated to drive the growth of the lab-on-chip segment. Moreover,
lab-on-chip technology plays a crucial role in biomedical diagnostics and
analytical chemistry. Additionally, the bimolecular operations performed in
lab-on-chips enable ultra-fast virus and bacteria detection, making it highly
valuable for molecular biology.
Application Insights
Based on application, the
global biochip market is categorized into Drug Discovery & Development,
Disease Diagnostics, Genomics, Proteomics, In-vitro diagnostics, and Others.
The In-vitro diagnostics segment is projected to hold a significant revenue
share over the forecast period, driven by the increasing demand for biochips in
In-Vitro Diagnostics (IVD). This includes applications such as DNA analysis,
lab-on-chip technology, protein microarrays, and other array applications.
Biochips also find utility in other IVD solutions like toxio-genomics and High
Throughput Screening. For example, in January 2022, researchers from the
Universidad Politécnica de Madrid (UPM) and the Universidad Carlos III de
Madrid (UC3M) developed a biochip that simplifies the manufacturing process of
in-vitro skin and other multilayer tissues in a laboratory setting. The Genomics segment is
expected to witness rapid revenue growth during the forecast period due to the
increasing adoption of biochips in genomics research. Genomics is a technique
used to study the structure and function of an organism's genome. The use of
DNA microarrays and biochip technologies has generated vast amounts of data,
enabling detailed analysis of the human genome and driving the demand for these
chips in genomics research.
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Regional Insights
North America dominates the market throughout the
projection period, primarily due to the government's concerted efforts to boost
R&D through tax incentives. This region is expected to maintain its
industrial position, thanks to its high concentration of biotechnology
businesses, academic and research organizations, and projected future
technological advancements in Biochip applications. The Asia-Pacific regional
market, on the other hand, is poised for tremendous growth, driven by China and
India. Expanding access to new technologies, a sizable patient base, advancements
in the healthcare system, and the increasing utilization of Biochip technology
are key factors influencing the region's expansion. Mature businesses are
delegating Biochip production to emerging economies, aiming to reduce overall
costs.
Recent Developments
- October 2022: MicrobioSeq
(CD Genomics) unveiled the Phage Whole-Genome Sequencing service, facilitating
biomarker discovery and the development of non-antibiotic treatment methods. CD
Genomics utilizes cutting-edge next-generation sequencing and long-read
sequencing technologies (primarily Illumina HiSeq, Nanopore, and PacBio SMRT
sequencing) to offer comprehensive virus/phage sequencing services, enabling
in-depth studies of structural genomics and comparative genomics.October 2022: Thermo Fisher
Scientific Inc. enhanced its Applied Biosystems Chromosome Analysis Suite
(ChAS) software through a strategic collaboration with Genoox, a
community-driven genomic data company. ChAS users now have access to Genoox's
cloud-based AI platform. With automated interpretation and reporting, ChAS with
Franklin provides an intuitive and flexible workflow, ensuring instant access
to consistent and reproducible cytogenetic analysis results.March 2022: Nutcracker
Therapeutics secured $167 million in Series C financing to advance its RNA
platform and expand its mRNA pipeline. Nutcracker is committed to the
development of RNA therapeutics leveraging its biochip-based manufacturing
platform. The company anticipates that the funding, led by ARCH Venture
Partners, will enable the expansion of its mRNA treatment pipeline for cancer
and further enhancement of its platform technology.
Key Market Players
- Abbott Laboratories Inc.
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- Fluidigm Corporation
- Thermo Fisher Scientific Inc.
- PerkinElmer Inc.
- Illumina Inc.
- Phalanx Biotech Group Inc.
- BioMerieux SA
- Qiagen NV
|
By Technology
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By Type
|
By Application
|
By End User
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By Region
|
|
|
- DNA Chips
- Lab-On-a-Chips
- Protein
Chips
- Others
|
- Drug
Discovery & Development
- Disease
Diagnostics
- Genomics
- Proteomics
- In-vitro
diagnostics
- Others
|
- Hospitals
& Diagnostics Centers
- Academic
& Research Institutes
- Biotechnology
& Pharmaceutical Companies
- Others
|
- North
America
- Europe
- Asia Pacific
- South
America
- Middle East
& Africa
|
Report Scope:
In this report, the Global Biochip Market has been
segmented into the following categories, in addition to the industry trends
which have also been detailed below:
- Biochip Market, By Technology:
o Microarray
o Microfluidics
o DNA Chips
o Lab-On-a-Chips
o Protein Chips
o Others
- Biochip Market, By Application:
o Drug Discovery &
Development
o Disease Diagnostics
o Genomics
o Proteomics
o In-vitro diagnostics
o Others
- Biochip Market, By End User:
o Hospitals & Diagnostics
Centres
o Academic & Research
Institutes
o Biotechnology &
Pharmaceutical Companies
o Others
- Biochip Market, By Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Kuwait
§ Turkey
§ Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Biochip
Market.
Available Customizations:
Global Biochip market report with the given
market data, Tech Sci Research offers customizations according to a company's
specific needs. The following customization options are available for the
report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Global Biochip Market is an upcoming report to be
released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]