- 2016 world biochip market forecast: $9.6 billion
- Diagnostics market segment to grow fastest, at 28.2% CAGR to 2016
- Five key end users examined in the report: applied markets, diagnostics, drug discovery and development; research tools and sequencing
LONDON--(BUSINESS WIRE)-- Biochip platforms are used in a diverse range of research applications within the biotechnology sector, including pharmaceuticals, proteomics and genomics. By 2016, the biochips market is expected to have grown to reach nearly $9.6 billion, compared with a 2010 value of $3.5 billion, representing a CAGR of 19.5%, according to a new report available from companiesandmarkets.com.
Global Biochip Markets: Microarrays and Lab-on-a-Chip
The biochip market is experiencing rapid expansion, as scientists discover new applications for the technology as well as developing methods of enhancing existing techniques. A key factor behind this growth has been the trend for miniaturization, prompted by the convergence of the semiconductor and biochip industries. By embedding sensing tools onto tiny chips the industry has created miniature laboratories (termed lab-on-a-chip) which are able to simultaneously conduct numerous multiple biochemical tests.
Important biochip platforms, examined at length within the report include: DNA microarrays, protein microarrays, and lab-on-a-chip. A number of specific market segments are also examined, such as digital PCR and peptide microarrays.
The biochip tools segment is seeing subdued growth, as applications such as SNP genotyping and gene expression analysis reach maturity. By 2016 this segment is expected to reach $2.7 billion, having grown at an 8.4% CAGR. Fastest segment growth is from the biochip diagnostics segment, which will see revenues of over $4.1 billion in 2016, compared with $1.05 billion (2010), and $2 billion (2011).
The highly competitive market has already seen a number of strategic alliances and M&A activities. Over 140 biochip industry participants are profiled within the global biochip market research report, including: 20/20 Gene Systems, Inc., Agendia BV, Customarray, Inc., Digital Genomics, Elim Biopharmaceuticals, Inc., Falcon Genomics, Genalyte, Hologic, Inc., Mycroarray.Com, Oxford Gene Technology, Predictive Biosciences, Quantalife, and Wafergen Biosystems, Inc.
The August 2011 research piece includes 376 pages of insight into the biochip, microarrays and lab-on-a-chip market, including statistics for the period 2011-2016.
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