How Has the Biochips Market Evolved Historically and What is its Current Size?
The biochips market has seen considerable growth due to a variety of factors.
• The biochips market has seen rapid growth in recent years. It is set to grow from $12.62 billion in 2024 to $14.72 billion in 2025, at a CAGR of 16.6%.
This growth is driven by increased demand for personalized medicine, the high prevalence of chronic diseases, technological advancements, expanded use in drug discovery, more investments in R&D, and supportive regulatory environments.
What Does Future Hold for The Biochips Market By 2029?
The biochips market is expected to maintain its strong growth trajectory in upcoming years.
• The biochips market is set to grow rapidly, reaching $26.94 billion by 2029, with a CAGR of 16.3%.
Growth is driven by increased use in point-of-care diagnostics, expanding drug development applications, rising demand for personalized medicine, microfluidics technology advancements, growing R&D investments, and collaborations between biotech companies and academic institutions. Trends include microfluidics technology advancements, biochip development for liquid biopsy applications, demand for multiplexed assays, AI integration for data analysis, and novel biochip platforms.
What Are The Primary Growth Drivers In The Biochips Market?
The increasing use of personalized medicines is anticipated to fuel the biochips market. Personalized medicine, which tailors treatment to a patient's genetic and lifestyle factors, is growing due to advancements in genomics and regulatory support. Biochips are critical in personalized medicine by helping to craft individualized treatment strategies. For example, the FDA approved 16 new personalized therapies for rare diseases in 2023, a significant rise from the 6 approved in 2022, driving growth in the biochips market.
What Is The Segmentation Of The Global Biochips Market?
The biochips market covered in this report is segmented –
1) By Type: Deoxyribonucleic Acid (DNA) Chips, Protein Chips, Lab-On-Chip, Tissue Arrays, Cell Arrays
2) By Technology: Microarrays, Microfluidics
3) By Application: Drug Discovery And Development, Agriculture, Genomics, Disease Diagnostics, Proteomics, Other Applications
4) By End-User: Biotechnology And Pharmaceutical Companies, Academic And Research Institutes, Hospitals And Diagnostic Centers, Other End-Users
Subsegments:
1) By Deoxyribonucleic Acid (Dna) Chips: Gene Expression Chips, Snp (Single Nucleotide Polymorphism) Chips, Dna Microarrays
2) By Protein Chips: Antibody Arrays, Protein Microarrays, Peptide Arrays
3) By Lab-On-Chip: Microfluidic Devices, Biosensors
4) By Tissue Arrays: Tumor Tissue Arrays, Normal Tissue Arrays
5) By Cell Arrays: Cell-Based Biochips, Cell Signaling Arrays
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How Are New Trends Impacting The Size Of The Biochips Market?
Firms in the biochips market are focusing on next-generation technologies, such as organ-on-a-chip platforms, which aim to revolutionize drug discovery and development. These platforms are advanced microfluidic devices designed to mimic the functions of human organs at a smaller scale. For example, in April 2024, US-based Boston Micro Fabrication (BMF) introduced BMF Biotechnology Inc., specializing in biochips or organ-on-a-chip platforms. These platforms enable large-scale tissue cultivation in vitro, enhancing the speed of drug and cosmetics development by offering a testing and research platform outside the human body.
Who Are the Key Players In The Biochips Market?
Major companies operating in the biochips market are:
• Thermo Fisher Scientific Inc.
• Roche Diagnostics International Ltd.
• Zoetis Inc.
• Agilent Technologies Inc.
• PerkinElmer Inc.
• Illumina Inc.
• Bio-Rad Laboratories Inc.
• QIAGEN N.V.
• Tecan Group Ltd.
• Cepheid Inc.
• Randox Laboratories Ltd.
• Takara Bio Inc.
• Oxford Nanopore Technologies plc
• Luminex Corporation
• Fluidigm Corporation
• Micronit Microtechnologies B.V.
• Sphere Fluidics Limited
• Sengenics
• Arrayit Corporation
• CustomArray Inc.
• Partek Incorporated
• NanoCellect Biomedical Inc.
• Dolomite Microfluidics
• Biocartis NV
What Are The Regional Insights Into The Biochips Market?
North America was the largest region in the biochips market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biochips market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
