Biochips have a wide range of diversified applications ranging from accelerated drug development to disease marker identification and include a large number of applications related to research especially in the fields of genotyping, genomics and proteomics. Moreover, rapid increase in spending, especially on clinical research and allocation of substantial resources for proteomic and genomic research are some of the key factors anticipated to fuel the global biochips market over the forecast period. In addition, bio microsystem is considered as a group of integrated and miniaturized devices generally used for biochemical and biological reactions in monitoring, diagnostics, research and development and therapy. In addition, some of the key advantages of bio microsystems include integrated intelligence, parallelism, speed, low cost, redundancy and complexity. Moreover, biochip is considered to be one of most proficient examples of development in technologies of bio microsystems. Also, a biochip is a vast collection of rearranged microarrays, especially on a solid substrate, that allows thousands of difficult and complex biochemical reactions. In addition, biochips are widely used in a variety of major applications such as research in biotechnology as well as proteomics and genomics, and development and drug screening of molecular diagnostics.
An increasing need for the reduction of overall turnaround time as well as miniaturization of clinical and biological tests deployed for diagnosis and research have bolstered the overall demand for biochips and bio-array procedures, thus driving the global biochips market. In addition, rapid technical developments associated with aforementioned techniques as well as a wide portfolio of product on their offerings owing to new product innovations are some of the key factors anticipated to furnish the researchers with a wide range of choices to primarily suit with their specific requirements. However, since biochip systems consist of formatted probes in micro scales, especially on glass surfaces, they further require some automatic robotic tools for scanning and handling the micro scale samples. Furthermore, bioinformatics tools are in turn needed for analysis of the data. Demand for such specific techniques and tools for implementation of biochips technology is anticipated to consider biochips as a sophisticated and relatively more expensive technology.
The global biochips market can be segmented on the basis of type, end-user, fabrication technology and region. On the basis of type, the global biochips market can be segmented into DNA chips, lab on a chip, protein chips and other arrays. On the basis of end user, the global biochips market can be segmented into biotechnology, pharmaceutical, hospitals, diagnostic centers, research institutes, academics and others. On the basis of fabrication technology, the global biochips market can be segmented into micro arrays and micro fluidics. On the basis of region, the global biochips market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific. The significant demand of biochips in healthcare applications in Asia-Pacific is projected to be the major driving factor for the growth of global biochips market. The U.S. is anticipated to account for the largest share and lead the overall demand for biochips owing to the increasing industrial production over the last few years. The markets in other developing countries such as Brazil, Russia, Poland, Indonesia, New Zealand, Argentina and India among others are also anticipated to grow rapidly throughout the forecast period.
Major players operating in the global biochips market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market. Some of the major players in the global biochips market include Sigma Aldrich Corp., EMD Millipore, Caliper Life Sciences Inc., Agilent Technologies, and Abbott Laboratories among others.