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Biochips Market Expected to Expand at a Steady CAGR through 2020

Biochips Market Expected to Expand at a Steady CAGR through 2020

​A biochip is a collection of miniaturized micro array chips that are arranged on a solid substrate. Basically, a microchip is capable of performing huge and ample calculations in one second. For instance, a biochip can perform genes decoding function in a few seconds. Biochips may or may not be electronic and are used as an individual sensor to perform analysis for a specific area. Biochips are majorly used for analyzing gel-based DNA array, plate-based DNA array, and micro fluid biochips. This is expected to drive demand for biochips in near future.

The biochips market is expected to be driven by factors such as personalized medicine growth, technical developments, and use of biochips for cancer treatment across the globe. Owing to these factors, the global market for biochips is expected to double in the next six years However, lack of proper knowledge and healthcare coverage across the globe may pose challenges to the market growth in near future.

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Apart from geographical categorization, the biochips market can be classified on the type of applications and microarray type. Based on the applications, broadly the categories include diagnostic applications and drug discovery and development. Furthermore, biochip diagnostic applications include neurological diagnostic, cardiac diagnostic, immune disease diagnostic, and others. Biochips classification according to the microarray type includes: protein microarray, lab-on-a chip microarray, and DNA microarray, and others.

Relocation of manufacturing facilities and outsourcing biochip technology are key strategies being followed by participants in this market. In addition, strategic alliances to expand geographical presence and market share along with an enhanced customer base are being followed by companies to grab a significant share in the market. The prominent players of biochips market areBiochain Institute Inc., Cepheid Inc., EMD Millipore, Calipher Life Sciences Inc., Affymetrix Inc., Agilent Technologies Inc., and Sigma Aldrich Corp, among others.

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