Market Overview:

Biochips are miniaturized devices containing microscopic spots of DNA, proteins, antibodies, or antigens that are designed to detect biological materials present in blood, urine or cell samples. They are used for disease diagnostics and forensics identification.

Market key trends:

One of the key trends in the biochips market is the increasing adoption of lab-on-a-chip technology. Lab-on-a-chip is a miniaturized device integrating one or several laboratory functions on a single integrated circuit or chip of just millimeters to a few square centimeters in size. It can perform several tests simultaneously, reducing the time, cost, equipment and sample required for various assays. The lab-on-chip technology has significant applications in DNA sequencing, point-of-care testing, drug discovery and life sciences research.

Segment Analysis
Content: The biochips market can be segmented into DNA chips, protein chips, lab-on-a-chip, and other segments. Among these, the DNA chips segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. DNA chips find major applications in gene expression, genetic testing, drug discovery and diagnostics. Increased focus on personalized medicine and drug discovery is fueling the demand for DNA chips globally.

Key Takeaways

The Global Biochips Market Demand is expected to witness high growth, exhibiting a CAGR of 12% over the forecast period, due to increasing demand for personalized medicine and better disease diagnosis. The global biochips market size was valued at US$ 10.71 billion in 2023.

Regional analysis: North America dominated the global biochips market in 2023 and is expected to maintain its leading position during the forecast period as well. Higher adoption of personalized medicine and presence of leading players in the region is driving the North American biochips market. Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising healthcare expenditure, increasing biotech research activities and growing genomics applications in the region.

Key players: Key players operating in the biochips market include Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., PerkinElmer Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Standard BioTools, GE HealthCare, Thermo Fisher Scientific, Inc., LI-COR, Inc., and QIAGEN, Randox Laboratories Ltd. Thermo Fisher Scientific dominates the market owing to its diverse product portfolio and strong global presence.

Note:

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it