Report Title: Biochips Markets by Country (United States, Canada, India, China, Japan, United Kingdom), Company Profiles, Size, Share, Trends, Analysis, Opportunities, Segmentation and Forecast 2015 – 2021
A biochip is a remarkable introduction in the medical and healthcare field. Biochips help researchers to quickly see large number of biological analytics and are used in a range of research applications within the biotechnology sector, including pharmaceuticals, proteomics and genomics. Biochips are also used in analysis of organic molecules associated with living organisms and helps in identifying gene sequences, airborne toxins, environmental pollutants and other biochemical constituents. Although biochips were developed way back in the mid-eighties but has gained good attention the recent decade due to growing application in the healthcare segment mainly due to growing preference of the patients for minimally invasive surgeries etc. It is expected that the global biochips market will be billion dollar business opportunity in future.
Many experts believe that the global biochips market will undergoing rapid expansion with the discovery of new applications and the development of existing technologies. It appears to be concrete fact as growth in personalized medicine market, increase in government spending/ private investment in healthcare budgets and R&D respectively are some of the key driving forces of the global biochips market. On the flip side, various factors such as less accuracy of biochips that may lead to wrong analysis, low rate of translation of discoveries in drugs, medical devices and protein biomarkers, low acceptance due to high cost and availability of alternative technologies are major restraints of the growth of the global biochips market.
APAC region is expected to be a lucrative region for the growth of global biochips market. This is mainly due to the growing medical tourism in the countries such as India, China and Korea etc. As medical facilities and treatment in the countries such as the US and other counties of Europe such as France patients are travelling to these countries for budget friendly treatment and other medical facilities.
Biochips are being used in various applications and the miniature size is the main reason for their adoption so far. DNA microarrays is the largest segment of the biochips and this segment is expected to see solid growth in the next five years, growing with an impressive CAGR. These are some of the factors portraying a bright image of the global biochips market.