The overall size of biochips market is estimated to grow at a CAGR of 18.4% from 2015 to 2020 to reach $17.75 billion by 2020. Download a FREE Pdf Broucher:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=54

The base year considered for the study is 2015 and the forecast for the market size is provided for the period between 2015 and 2020. In the current market scenario, biochips are increasingly adopted in various applications in the field of genomics, drug discovery, and proteomics. In addition, the development of targeted and personalized medicines for the treatment of cancer and technological advancements in biochips are also supporting the growth of biochip products. 

North America is expected to account for the largest market share during the forecast period.

The biochips market is divided into four major regions — North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2015, North America is expected to account for the largest share of this market, followed by Europe. Factors such as increasing aging population and rising prevalence of lifestyle diseases and cardiac disorders are the key drivers for the growth of the North American biochips market 

On the other hand, the market in the Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Rapid growth in the life sciences industry in China and India, growth in biotechnology and pharmaceutical research, and low infrastructure costs are some major factors driving the growth of the biochips market in Asia

Recent Developments:

• In 2016, Thermo Fisher Scientific Inc. completed the acquisition of Affymetrix Inc., a leading provider of cellular and genetic analysis products. This acquisition helped Thermo Fisher to strengthen its leadership in biosciences, as well as acquire new genetic analysis capabilities to better serve clinical and applied markets.
• In 2015, Affymetrix (US) and Cytox (UK), an innovative developer of assays for risk assessment and prediction of dementia, formed a strategic partnership to develop and commercialize blood-based genetic assay for Alzheimer’s disease risk assessment. This partnership helped the company extend its offering to the dementia research market.

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Key Market Players

Key players in the biochips market include Abbott Laboratories (US), Agilent Technologies, Inc. (US), PerkinElmer Inc. (US), Fluidigm Corporation (US), Illumina, Inc. (US), GE Healthcare (US), Bio-Rad Laboratories Inc. (US), Cepheid Inc. (US), Thermo Fisher Scientific, Inc. (US), and F. Hoffmann-La Roche AG (Switzerland).

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