Pune, 7 Dec 2022: According to the Biochip Scanner Market report published by Maximize Market Research, Biochip Scanner Market was valued at USD 10.3 Bn. in 2021, and it is expected to reach USD 24.56 Bn. by 2029, exhibiting a CAGR of 11.46% during the forecast period (2022-2029).
Biochip Scanner Market Overview
Biochip is a microarray device that is used to allow functional, proteomic, and large-scale genomic analysis. The biochip functions as a miniature reactor for the detection of specific protein, DNA, antibody, or biological module analyses. A biochip’s primary purpose is to quickly assess hundreds of biological processes. A biochip can also be used to track a person or an animal, and it works very well to store demographic and medical information.
Biochips are increasingly being used in a variety of applications as a result of advancements in nanotechnology, which boost their functionality and lower their size while making them valuable for diagnostics, research, medication development, and toxicological studies.
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Biochip Scanner Market Dynamics
One of the main factors propelling the growth of the worldwide biochips market is the rising demand for high-speed diagnostics, as well as the growing acceptance of biochips for cancer treatment, drug discovery, and life science research. By 2030, the American Cancer Society predicts that there will be 21.7 million new instances of cancer and 13 million cancer-related deaths. The increasing use of biochips in cancer treatment motivates businesses to release cutting-edge products. For instance, Changwei System Technology Co., Ltd, a life science company, began creating biochips in March 2022 for applications such as Cancer Differentiation Technology (CDA) and In-Vitro Diagnostics (IVD). Biochips are also used for genetic application research in the fields of toxicology, protein, and biochemistry. During biological warfare, it can be used to swiftly detect chemical substances, which facilitates the implementation of protective measures.
Biochip Scanner Market Regional Insights
Geographically, North America’s biochip market had the greatest revenue share in 2021 because of the region’s accessible advanced healthcare systems, rising rates of cardiac and chronic diseases, and growing prevalence of these diseases in the U.S. The necessity for clinical and research diagnostics is fueled by the high occurrence of diseases like cancer and diabetes in this area. Governments are initiating a number of programmes to promote precision medicine, together with increasing funding for cancer genomics research and development, which is anticipated to fuel revenue growth in North America. For instance, U.S. President Biden announced the Cancer Moonshot in February 2022, with the goal of lowering the death rate from cancer by at least 50% over the following 25 years.
Biochip Scanner Market Scope and Research Methodology
An objective combination of primary and secondary data, as well as contributions and validations from current industry specialists, were used in the study. Top companies in the Biochip Scanner market are analysed in-depth with regard to their products, revenues, and business and geographic segmentation. Obtain first-hand observations from specialists operating at various positions along the value chain for Biochip Scanners. For any further data requirements or validations, we frequently employ for-pay databases like faostat.
In-house experts will connect the dots and create a clear picture of the current Biochip Scanner market conditions, market size, and market shares using complex approaches, such as data triangulation. To determine demand drivers and variables in the short, medium, and long terms, we analyse the value chain, parent and ancillary markets, technological trends, current developments, and influencing factors. With rigorous analyst assistance, a variety of statistical models, including correlation analysis, are run to include seasonal and other characteristics and analyse various future scenarios for the market for Biochip Scanners in various nations. These key figures, presumptions, factors, and their weighting are sent to the expert panel for validation before a thorough standard report is released in a way that is simple to comprehend.
Biochip Scanner Market Segmentation
- DNA Chips
- Protein Chips
- Cancer Diagnosis and Treatment
- Gene Expression
- Single Nucleotide Polymorphism (SNP) Genotyping
- Drug Discovery
- Others (Agricultural Biotechnology, Proteomics, Expression Profiling, High Throughput Screening)
- Biotechnology & Pharmaceutical Companies
- Hospitals & Diagnostics Centers
- Academic & Research Institutes
Biochip Scanner Market Key Competitors:
- Agilent Technologies, Inc
- Bio-Rad Laboratories, Inc
- Cepheid Inc
- Fluidigm Corporation
- GE Healthcare
- Hoffman-La-Roche Ltd
- Illumina, Inc
- Ocimum Biosolutions Ltd
- PerkinElmer, Inc
- Takara Bio Inc
- Thermo Fisher Scientific Inc
- Merck Millipore
- Sigma-Aldrich Corporation
- Abbott Laboratories
- bioMerieux SA
- F. Hoffmann-La Roche Ltd
- HORIBA, Ltd.
- PerkinElmer, Inc.
- Randox Laboratories Ltd
Key questions answered in the Biochip Scanner Market are:
- What is Biochip Scanner?
- What is the growth rate of Biochip Scanner Market for the forecast period?
- What is the nature of competition in Biochip Scanner industry in developed economies and developing economies?
- Who are the key players in the Biochip Scanner Market?
- Who are the market leaders in Biochip Scanner in Europe
- Who are the market leaders in Biochip Scanner in USA and Canada?
- Who are the market leaders in Biochip Scanner in India, China, Japan and South Korea?
- What are the factors affecting growth in the Biochip Scanner Market?
- Who held the largest market share in Biochip Scanner Market?
- What are the factors for the growth of Asia-Pacific region in Biochip Scanner Market?
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- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Route of administration, Application, Facility of use and Region and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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