The Global Biochip Market size is estimated to exhibit a CAGR of 11.7%, reaching USD 108.34 Billion in terms of revenue by 2027 from USD 10.28 Billion in 2019, according to a new report by Reports and Data. Biochip is a costly technology. The complexity of technology, various resources and research and development in the product are the factors that increase the price of the technology. Manufacturers and research institutes are focusing their work to increase the precision of the product while reducing the costs and time. The high cost of biochip and lack of knowledge of the product is hindering the growth of the market in the emerging nations.

In the year 2017, research institutes of Stanford University School of Medicine have developed a method to produce reusable and cheap diagnostic lab-on-a-chip with the help of an inkjet printer, which was worth 1 cent per chip.

North America is forecasted to dominate the market. Increase in geriatric population and increase in chronic and cardiac diseases are the key factors propelling the market growth owing to the high-quality healthcare system. Presence of major local companies also boost the market in North America.

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The report provides a complete coverage of the recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others. To offer a clear understanding of the scope of the industry, competitive landscape and different progressive aspects are studied extensively in the report.

Key companies operating in the global market and profiled in the report include:

bioMrieux S.A., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, HORIBA Ltd., Illumina, Inc., PerkinElmer, Inc., Randox Laboratories Ltd., Thermo Fisher Scientific Inc., and QIAGEN N.V., among others.

The report further offers insights into company overviews, business landscape, production and manufacturing capacity, product portfolio, financial standing, global market position, gross profit margins, SWOT analysis and Porter’s Five Forces analysis for each company. The report also covers feasibility analysis and investment return analysis to offer deeper insights into market landscape and industrial chain.

Biochip Market Segmentation:

Product Outlook (Revenue, USD Billion; 2017-2027)

• DNA Chip
• Lab-on-chip
• Protein Chip
• Others

Technology Outlook (Revenue, USD Billion; 2017-2027)

• Microfluidics
• Microarray

Substrate Material Outlook (Revenue, USD Billion; 2017-2027)

• Glass
• Polymers
• Silicon
• Others

Application Outlook (Revenue, USD Billion; 2017-2027)

• Genomics
• Proteomics
• Drug Discovery and Developments
• In Vitro Diagnostics
• Disease Diagnostics
• Agriculture

End-User Outlook (Revenue, USD Billion; 2017-2027)

• Pharmaceutical and Biotechnology Company
• Academic and research institute
• Hospitals and diagnostic centers
• Others

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The report discusses in detail the geographical spread of the market in key regions of the world including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report studies the region expected to dominate market growth over the forecast period. The report also talks about the key factors such as supply and demand ratio, production and consumption patterns, consumer demands, technological advancement, research activities, and presence of key players that can influence vital parameters such as market size, market trends, market share, and revenue generation in each region.

Regional analysis covers:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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The report utilizes advanced analytical tools to research, gather, and analyze data. The in-depth research report has been formulated through extensive primary and secondary research and the data has been further validated and verified from industry experts, professionals, and research analysts. The report also offers strategic recommendations to key market players and novice players to overcome barriers and limitations and gain a robust footing in the market.

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