The Global Lab-On-A-Chip And Microarrays (Biochip) Market Growth Accelerated By Increased Demand For Point-Of-Care Diagnostics
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| Lab-On-A-Chip And Microarrays (Biochip) Market |
Lab-on-a-chip
and microarrays (biochip) provide key technological advancements in disease
diagnosis and management. Biochips enable efficient, high-throughput analysis
of biomolecular interactions and have emerged as affordable tools for
point-of-care diagnostics and high-content screening. Equipped with
micron-scale analytical devices, biochips facilitate rapid detection of DNA,
proteins, viruses, and other biomarkers from minimal sample volumes.
The
global Lab-on-a-chip and Microarrays (Biochip) market is estimated to be valued
at US$ 31.91 billion in 2023 and is
expected to exhibit a CAGR of 13%
over the forecast period 2023 to 2030,
as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased demand for point-of-care and affordable diagnostics from the
healthcare sector is a major trend fueling the growth of the biochip market.
Biochips enable immediate analysis of biomolecules without the need for
expensive diagnostic instruments or specialized technicians. This has expanded
use of microarrays and biosensors across ambulatory settings. Further,
technological innovation has miniaturized biochip devices to develop portable
diagnostic kits for conditions like infectious diseases, cardiac markers, and
cancer biomarker detection. This rising availability of easy-to-use biochips
for bedside monitoring and home care is driving the market growth over the
forecast period.
Segment Analysis
The global lab-on-a-chip and microarrays market is dominated by the microarray
segment. Microarrays allows researchers to investigate gene expressions across
thousands of genes simultaneously using a microarray chip. These chips are
spotted with thousands of DNA fragments called probes and allows researchers to
determine the presence or absence of target DNA fragments through
hybridization. This aids in high-throughput analysis in biology and drug
discovery. The advantages of analyzing a large number of gene expressions
simultaneously makes microarrays the dominating segment.
Key Takeaways
The Global
Lab-On-A-Chip And Microarrays (Biochip) Market is expected to witness
high growth. The global Lab-on-a-chip and Microarrays (Biochip) Market is
estimated to be valued at US$ 31.91 Bn in 2023 and is expected to exhibit a
CAGR of 13% over the forecast period 2023 to 2030.
Regional analysis
The North American region currently has the largest share in the global
lab-on-a-chip and microarrays market. This is due to the presence of major
pharmaceutical and diagnostic players and rapid adoption of advanced
technologies. Furthermore, large funding from government organizations to
support drug discovery and development of POC diagnostics aids market growth in
this region. Asia Pacific region is expected to witness fastest growth during
the forecast period owing to rising investments by pharmaceutical companies,
increasing research activities and growing focus on developing personalized
medicine in countries like China and India.
Key players
Key players operating in the lab-on-a-chip and microarrays market are Merck
KgaA, QIAGEN NV, Illumina Inc., Micronit BV, PerkinElmer Inc., Thermo Fisher
Scientific, Fluidigm Corporation, Bio-Rad Laboratories Inc., and Agilent
Technologies Inc. Merck KgaA dominates the market with their extensive product
portfolio of microarrays, instruments and lab-on-a-chip devices for various
applications including drug discovery, biomarker identification and molecular
diagnostics.
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