Biochip Market Size, Emerging Trends and Overview to 2024: Hexa Reports

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Biochip Market Analysis, Share and Size, Trends, Industry

Growth, Overview And Segment Forecasts To 2024

Global biochips anticipated market to reach USD 25.84 billion by 2024, according to a new report by

Grand View Research, Inc. Growing adoption of personalized medicine and rapid technological

advancements in the biochips market along with high market demand from proteomic and genomic

applications is expected to drive market growth.

Anticipated launch and commercialization of novel products for diagnosis and treatment including

laboratory- and non-laboratory-based research are expected to further reinforce growth in demand.

Improvements in accuracy, resolution, and preparation procedures for the technology coupled with

reduction in costs of associated materials are expected to fuel growth over the forecast period.

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Ongoing developments related to further miniaturization of biochips are expected to enhance their

applicability and additional usage for genetic sequencing methodologies, such as cancer genomics. Their

usage is also expected to aid reduction in the cost of genome profiling, which is a factor likely to drive

demand for the next step of genetic analysis, i.e., protein expression analysis. Consequently, a growth in

the number of such protein profiling studies is expected to directly fuel demand for genomic and

proteomic labeling techniques through to 2024.

Further key findings from the report suggest:

DNA chips form the largest revenue-generating segment of the biochip applications. Major contribution

to this share comes from usage in cancer diagnostics/treatment and drug discovery applications. DNA

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chips accounted for around a third of the global market revenue in 2015. The other notable contributing

segments to application of...