9th December 2020 – Global biochip market
size was valued at USD 7.63 billion in 2015. With potential
applications of genomics and proteomics in biotech R&D, along with
rapid technological innovation and increase in adoption of personalized
medicines, it is expected that this market will witness considerable
growth in revenue over the forecast period. For biochip technology, in
order to enhance its usability, there is an improvement in resolution,
preparation procedures and accuracy along with the reduction in the cost
of the materials associated with manufacturing the biochips. These
factors are expected to further reinforce growth potential. Anticipated
commercialization and launch of novel treatments and diagnosis products
including non-laboratory and laboratory research is expected to fuel
growth over the forecast period.
Current developments aiming to miniaturize biochips even further can
be anticipated to increase the additional usage and applicability for
genetic sequencing methodologies, such as diabetes genomics. With the
rise in usage of the biochip technology, it is anticipated that cost of
genome profiling can reduce even further for studies such as protein
expression analysis among others. Hence, proteomics and genomics
labeling techniques along with other protein profiling techniques are
expected to witness a growth in demand.
DNA chips accounted for the largest share of revenue owing to the
presence of a considerable number of applications. Cancer
treatment/diagnostics has been observed to have major share for the
usage of biochips. Other segments contributing for the applications of
biochips include genotyping, agricultural biotechnology, genomic
studies, and single nucleotide polymorphism and gene expression. Biochip
technology has the ability for miniaturizing chemical & biological
assays and molecular biology which provides a ground for in-depth
R&D of molecular biology at a minute level. Furthermore, the ability
of miniaturization is expected to improve even more and enhance the
efficiency in terms of inputs and cost requirements.
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Lab-on-a-chip, cell and tissue array, protein chips and DNA chips
find applications in biotechnology & pharmaceutical companies,
research & academic institutes, hospitals & diagnostics and
point of care settings which involves end users. Protein biochips and
LOACs have found widespread use for single nucleotide polymorphism
genotyping, gene expression, in vitro diagnosis, expression profiling,
drug discovery, high throughput screening and tissue arrays. The
commercialization of the products in the development pipelines of key
market participants is also key towards the potential to drive the
growth for the market.
Sophisticated robotic tools are needed for scanning and handling
samples which are in micro-scale. Furthermore, for efficient data
analysis efficient bioinformatics system is required. Therefore, this
will increase the need for specific techniques and system which is
expected to increase the demand for biochips used in sophisticated
machines. This will consequently increase the price of the biochips and
widen the offered product range in the market.
North-America accounted for the largest revenue share owing to the
presence of government policies motivating personalized care for the
patients and availability of proteomics and genetic profiling
infrastructure across the country, especially in the U.S. There has also
been a rise in the usage of NGS (Next Generation Sequencing) for
molecular treatment and clinical diagnosis coupled with microfluidic
techniques that add to the large market share. The Asia Pacific region
is expected to grow at the fastest rate during the forecasted period.
Reasons contributing towards the fastest growth in the market are –
increase spending by the government in order to improve healthcare and
R&D infrastructure in the areas of proteomics, genomics and NGS
(next generation sequencing). There has also been growing awareness in
the growth market for early and effective diagnosis which will further
increase the growth in the market.
Key players in the development & commercialization of biochips
include PerkinElmer, Inc.; Abbott Laboratories; Bio-Rad Laboratories,
Inc.; Fluidigm Corporation; Sigma-Aldrich Corporation; Agilent
Technologies, Inc.; Thermo Fisher Scientific, Inc. and GE Healthcare. In
order to establish themselves in the untapped market, companies are
following various strategies including mergers & acquisitions,
collaboration, vertical and horizontal integration in regions/countries
where they can see potential growth.
For example, PerkinElmer has successfully taken over Vanadis
diagnostics which undergoes cell free DNA-based noninvasive prenatal
testing (NIPT) on the digital platform. This has extended PerkinElmer’s
portfolio. Similar strategies by other companies are expected to
influence the market positively which will also bring competitiveness in
the market.
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