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Sunday, June 19, 2022

Global Biochips Based In-vitro Diagnostics Market to be Driven by the Advancements in Biochip Technology in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Biochips Based In-vitro Diagnostics Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global biochips based in-vitro diagnostics market, assessing the market based on its segments like applications, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027):15.5%

Recent advancements in biochip technology and increased investment in genomics and proteomics research and development programmes are major factors driving the global biochips-based in-vitro diagnostics market. Other than that, the rise in the geriatric population and their vulnerability towards diseases are driving the market. This, coupled with the increasing preference for personalised medicines, will help the market grow at a promising rate in the coming years. The market's ability to grow and flourish is aided by the presence of a large drug development pipeline. Aside from that, continued expenditures on the lab-on-a-chip array, protein microarrays, and DNA microarray research and development will help the industry grow. Such investments are likely to benefit the global market in the long run.

Industry Definition and Major Segments

A biochip is a collection of various tests on a single chip that allows the analysis to be multiplexed, increasing test efficiency. Biosensors, microarrays, and microfluidics-based systems are all prominent bio/tissue chip technologies, but Lab on a Chip is the most significant (LOC). Bio/tissue chips can be used for almost any type of in-vitro diagnostic (IVD), including DNA applications (gene expression, cancer diagnosis and treatment, genomics, SNP genotyping, drug discovery, agricultural biotechnology, etc), lab on chip applications (diagnostics, drug discovery, proteomics, genomics, IVD & POC, high throughput screening, and so on), and so on.

The major applications of the market are:

• DNA Applications
• Lab-on-chip Applications
• Protein Micro-array Applications
• Others

By end use, the market is classified into:

• Hospitals and Clinics
• Research Institutions
• Diagnostic Centres
• Others

On the basis of region, the market is segmented into:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Market Trends

Increased adoption of next-generation sequencing and rising need for cancer diagnostics and treatment are the major factors driving the biochips based in-vitro diagnostics demand in the market. The rising number of key players in the biochip market and the growing number of bio/tissue chips applications indicate a promising market during the forecast period. Biochips for diagnosis, such as uTAS devices, and implanted devices for efficient therapies, such as trauma monitoring, are examples of real-world applications pushing the in-vitro diagnostics area. The global biochips based in-vitro diagnostics market is predicted to grow as a result of these applications.

Key Market Players

The major players in the market are Greiner Bio One International GmbH, SCHOTT AG, Randox Laboratories Ltd., PerkinElmer, Inc., and HORIBA, Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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