LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global biochip market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
“The global biochip market is expected to grow at a CAGR of more than 17% over the forecast period due to increasing demand for biochips to cater to the rising cases of chronic diseases and the need for targeted and personalized medicine. Biochips offer the capability to identify and prioritize drug targets through the parallel collaboration of an assembly of gene expressions,” says Amber Chourasia, a lead analyst at Technavio.
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The top three emerging market trends driving the global biochip market according to Technavio research analysts are:
- Increasing POC diagnostics
- Growing application of biochips in pharmacogenomics
- Increasing use of biochip technology as alternative to animal testing
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Increasing POC diagnostics
The diagnostic sector is undergoing a revolutionary change, with device miniaturization, movement of focal research center close to patient locales, and growing test menus, denoting the invasion of multiparameter checking devices. Another significant change in the sector is the shift toward POC diagnostics or testing. POC testing permits patient diagnosis in an ambulance, at home, or in the hospital. It provides timely results, which enable rapid treatment of the patient.
Laboratory functions miniaturized onto biochips is a standard shift in biotechnology as it allows individual living cells and small volumes of reagent samples to be quantified on portable chips. Thus, the advent of the biochip technology encourages hospitals and clinics to switch to POC diagnostics because of their expense adequacy, quick test outcomes, and speedier turnaround times.
Growing application of biochips in pharmacogenomics
Pharmacogenomics refers to the study of the diversity of genes that determine drug behavior in a patient's body. Pharmacogenomics correlates gene expression or SNPs with drug efficacy and toxicity with the help of biochips. The main application of the biochip and microarray technologies is in pharmacogenomics.
The analysis of gene expression in the genome helps researchers to understand the mechanism of action of various drugs. The relation of drug discovery and gene expression analysis reinforces the roles of biochip and microarray technologies in pharmacogenomics. However, the use of biochips in pharmacogenomics is in its initial stage, but it is expected to exhibit growth during the forecast period.
“The biochip provides advantages such as eliminating the adverse effects of drugs as it obtains DNA samples of saliva, hair root, or buccal swab in a non-invasive manner. Moreover, it also provides prognostic value for many drugs rather than a single drug. All these advantages are propelling the end-users to use this technology, thus increasing its market potential,” says Amber.
Increasing use of biochip technology as alternative to animal testing
Toxicity testing of a chemical involves the use of animals. Various new compounds are generated in the pharmaceutical and cosmetic industries which are tested on animals. Animal testing has always been a contentious issue between the scientific community and animal rights activists. Besides the ethical concerns related to animal testing, the costs involved in such testing are enormous. These hurdles to laboratory testing have resulted in the increased use of biochip technology.
Biochips determine the same reactions of a chemical compound as it metabolizes in the human body and hence, eliminates the need for experiments on animals. Furthermore, biochips provide high throughput of toxicology assays. For instance, a laboratory can test around ten thousand compounds with various concentration levels in just two days by using the biochip technology, which results in the generation of a high amount of data related to human consumption of chemical compounds without harming animals. Hence, use of biochip technology results in fast and reliable results, while at the same time helping save animal lives. This is expected to drive the global biochip market during the forecast period.
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