Global Lab-on-a-chip and Microarrays (Biochip) Market Growth, Trends, and Forecast Report 2019-2024 - ResearchAndMarkets.com

DUBLIN--()--The "Lab-on-a-chip and Microarrays (Biochip) Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

Biochips are being increasingly used in the area of biomedical and biotechnological research. With the advancement of technology in the medical field, there has been a rise in adoption of biochips in proteomics, such as in microarrays. The advantages of protein biochips include low sample consumption and its inclination towards miniaturization.

For instance, protein microarrays can display multiple proteins simultaneously, and these characteristics translate into its ability to process thousands of samples parallelly. This characteristic of microarrays is important for proteome-wide analysis. Proteomics is being widely adopted for biomarker and drug discovery.

Moreover, the rise in demand for personalized medicine for diseases is contributing to the growth of the market. The other factors, such as increasing use of biochips in cancer treatment and diagnostics, demand for personalized medicine, and rapid technological advances in biochip technology are driving the lab-on-a-chip and microarrays (biochip) market.

Microarrays (biochips) has been the technology of choice for large-scale studies of gene expression since their invention in the 1990s. Although microarray technology continues to advance, transcriptomics has expanded dramatically in the past few years, owing to the availability of new alternative technology, such as RNA-sequencing (RNA-seq) and Next Generation Sequencing (NGS).

Both sensitivity and specificity can be low with microarray technology. Moreover, accuracy can be negatively affected, owing to a low dynamic range of the existing microarrays. Background hybridization limits the accuracy of expression measurements, especially for transcripts present in small amounts. Probes also differ considerably in their hybridization properties.

Microarrays are limited to interrogating only those genes for which probes are designed. Although microarray technology has its advantages (less labor intensive and economical), the availability of alternative technologies and their benefits in comparison with microarrays is restraining the growth of lab-on-a-chip and microarrays (biochip) market. The other factors, such as low commercial acceptability due to the high costs and lack of skilled labor is also hindering the market.

Key Market Trends

Lab-on-a-chip segment is expected to witness a healthy growth over the forecast period

The Lab-on-a-chip and Microarrays (Biochip) Market are segmented based on type, application, end-user, and region. Based on type, it is segmented into DNA microarrays and lab-on-a-chip / microfluidics. Based on the application, it is classified into genomics, proteomics, cell assays, etc.

The lab-on-a-chip segment of the market studied is expected to have a positive market growth due to the rise in demand for diagnostics, increasing global population, and technological advancement. Furthermore, the rise in adoption of personalized medicine, and easy accessibility of lab on chip technology will augment the demand for the same across the globe.

United States Leads the Market in North America

Based on the geographic region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The United States lab-on-a-chip and microarrays (biochip) market held the largest market share in North America due to the presence of a high-quality healthcare system. In the Asia-Pacific sector, China and South Korea have been identified as potential emerging markets due to high R&D investments in the medical field.

Competitive Landscape

The Lab-on-a-chip and Microarrays (Biochip) market is moderately competitive and many of the global players are into the market.

For instance - Abbott Laboratories, Agilent Technologies, Bio-Rad Laboratories Inc., GE Healthcare, Roche Holding AG, Thermo Fisher Scientific, etc. are providing these products across the globe.

Market Dynamics

Market Drivers

  • Increasing Application of Proteomics And Genomics in Cancer Research
  • Growth of Personalized Medicine
  • Regulatory Approval for Personalized Medicine
  • Increased Commercial Application of Biochips

Market Restraints

  • Lack Of Standardization
  • Low Commercial Acceptability Due to the High Costs
  • Availability of Alternative Technologies
  • Lack of Skilled Technicians

Porter's Five Force Analysis

Companies Mentioned

  • Abbott Laboratories
  • Agilent Technologies Inc.
  • Bio-Rad Laboratories
  • Beckman Coulter Inc.
  • Cepheid Inc.
  • Fluidigm Corporation
  • GE Healthcare
  • Roche Holding AG
  • Illumina, Inc.
  • Biomerieux SA
  • Thermo Fisher Scientific
  • PerkinElmer Inc.

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900