Bio-microsystems are a group of integrated and miniaturized devices that are used in biochemical reactions and biological monitoring, diagnostics, research and development, and therapy. Some of the advantages of using bio-microsystems are integrated intelligence, parallelism, low cost, redundancy, and speed. A biochip is an example of a bio-microsystem; it is a collection of microarrays organized on a solid substrate, allowing thousands of complex biochemical reactions, including decoding genes, in less time.
Technavio’s analysts forecast the global biochips market to grow at a CAGR of 17.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global biochips market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of biochips for applications, including drug discovery and development, diagnostics and treatment, research and consumables, forensic medicines, and others.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Biochips Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Biochips Market: Affymetrix, Agilent Technologies, Cellix, Illumina, and PerkinElmer.
Other Prominent Vendors in the market are: Biochain Institute, Bio-Rad Laboratories, Cepheid, EMD Millipore, Fluidigm, SuperBioChips Laboratories, and US Biomax.
Commenting on the report, an analyst from Technavio’s team said: “Among the various trends, the emergence of microarray technology is something to watch for. The emergence of microarray technology equips genetic researchers with highly specialized techniques to carry out improved clinical research in the field of molecular biology. In line with this, many researchers have developed nanoarrays to efficiently print thousands of binding sites on a single conventional microarray spot. Also, innovative and specialized methods to express and purify proteins help companies build recombinant protein libraries.”
According to the report, a key driver which is expected to drive market growth is the adoption of biochip technology in drug discovery. The emergence of biochip technology adds a new dimension to drug discovery. Biochip, integrated with improved bioinformatics techniques and enhanced throughput screening, helps in better target identification and validation. It can produce more information on small surfaces of quartz wafers. Academic research units, industrial research bases, and pharma and biotech companies are the major end-users of this technology.
Further, the report states that challenges with standardization, reliability, accuracy, and precision issues many hinder the development of the market.
Affymetrix, Agilent Technologies, Cellix, Illumina, PerkinElmer, Biochain Institute, Bio-Rad Laboratories, Cepheid, EMD Millipore, Fluidigm, SuperBioChips Laboratories, US Biomax.