What is Biochips Market Scope?
Upsurge in spending on the clinical research will help to boost global biochips market all over the world. Biochip can be considered as a micro-reactor. It can detect a particular analytic like an enzyme, protein, DNA, biological molecule or antibody. The key function of biochip is execute hundreds of biological reactions in a few seconds like decoding genes. The applications of biochip includes trace a person or animal anywhere in the world, store and update the info of a person like medical financial as well as demographics.
The Biochips market study is being classified by Type (DNA Chips, Protein Chips, Lab-on-a-Chip and Others), by Application (Drug Discovery & Development, Disease Diagnostics, Genomics, Proteomics, Agriculture and Others) and major geographies with country level break-up.
Research Analyst at AMA predicts that Players from United States and German will contribute to the maximum growth of Global Biochips market throughout the predicted period.
Abbott Laboratories (United States), Agilent Technologies Inc. (United States), Perkinelmer Inc. (United States), Fluidigm Corporation (United States), Illumina Inc. (United States), GE Healthcare (United States), Bio-Rad Laboratories Inc. (United States), Cepheid Inc. (United States), Thermo Fisher Scientific Inc. (United States) and Roche Diagnostics AG (Switzerland) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Greiner Bio-One GmbH (Germany), Zerzog GmbH & Co. KG Kunststofftechnik Recycling (Germany), Otto Michael GmbH & Co. KG (Germany) and Astra Bitech GmbH (Germany).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Biochips market by Type, Application and Region.
On the basis of geography, the market of Biochips has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
On 4 January 2017, Abbott has announced an acquisition of St. Jude Medical, Inc., establishing the company as a leader in the medical device arena. The transaction provides Abbott with expanded opportunities for future growth and is an important part of the company's ongoing effort to develop a strong, diverse portfolio of devices, diagnostics, nutritionals and branded generic pharmaceuticals.
On 14th March 2019, Abbott has expanded indication to its leading MitraClip device used to repair a leaky mitral valve without open-heart surgery. Supported by the results of the landmark COAPT Trial, MitraClip is the first trans catheter mitral valve intervention therapy approved by FDA to treat select heart failure patients with clinically significant secondary, or functional, mitral regurgitation (MR).
Influencing Market Trend
- Growing Demand for Personalized Medications
- Emerging in Number of Biochip Application
Market Drivers
- Growing Expenditure of Clinical Research
- Fueling Patient Awareness about Biochips
- Upsurging Demand due to Increasing Diagnostic Methods as we as low Cost through Technical Advancement
Opportunities
- Huge Demand in Academic and Research Institutes
- Growing Demand in Untapped Market in Developing Nations
Restraints
- Higher Initial Investments in Manufacturing Smart Biochips
- Irregularities Received In Healthcare Coverage around the Globe
Challenges
- Lack of Awareness about Biochip Technology
- Rising Concern about Fabrication of Biochips
Key Target Audience
Medical Research Institutes, Healthcare Industry, Governmental and Research Organizations, Associations and Industry Bodies, Technology Providers and Others
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