Triton Market Research presents their Global Biochips Market report segmented by Type (DNA chip, Lab on chip, Protein chip and others), end-users (biotechnology and pharmaceutical companies, hospitals and diagnostics centers and academic and research institute), substrate materials ( glass, polymer, silicon, etc.) and by geographical region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) - discussing Industry Value Chain Analysis, Porter's 5 Force Analysis, Drivers, Restraints, Vendor Profiles, Global Market Size, Forecasts & Analysis (2019-2027).
Triton Market Research expects the global biochips market to witness a compound annual growth rate of 19.32% during the forecasted period (2019-2027). The market growth is being propelled by rising demand from personalized medicines, high prevalence of cancers and government’s increase investment in the healthcare sector.
DNA chips are the most favored market type segments in the global biochips market. The DNA chips segment has seen an increased adoption in areas like proteomics, genomics and drug development. At present, the biotechnology and pharmaceutical companies are the major end-users of this market. These companies make use of biochips for characterization of mutants, DNA sequencing and gene expression analysis.
Of the five key geographies analyzed in this report, Triton Market Research expects the Asia-Pacific region to showcase the highest growth over the forecast period. The Asia-Pacific biochips market has some key industrial applications, ex: agricultural biotechnology biochip is used for safety detection of agriculture products that include, disease diagnostics in plants, crop optimization, environmental testing and supervision of food hygiene. The Indian biochip market is likely to exhibit a significant growth over the forecast years, driven by increased R&D activities and growing investments of public and private players in the country’s biotechnological sector.
The key biopharmaceutical companies operating in the global biochips market are Biomerieux SA, Agilent Technology Inc., Illumina Inc., Fluidigm Corporation, Cepheid Inc., Bio-rad laboratories Inc., Cybrdi Inc., Gamida for Life Group, Gamida for Life Group, and Biochain Institute Inc.
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