Global Microarray Biochips Market 2017-2021
About Microarray Biochips
Biochips are bio-microsystems. Bio-microsystems are small integrated devices used for biochemical reactions, biological monitoring, research, academic studies, drug discovery, and much more. A microarray biochip is a that biochip on which various microarrays are assembled on a substrate that permits successful performance of complex biochemical reactions at the same time. Microarray biochips are used in various applications such as drug discovery and development, diagnostics and treatments, research and consumables, forensic medicines, and others.
Technavio’s analysts forecast the global microarray biochips market to grow at a CAGR of 15.56% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global microarray biochips market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microarray Biochips Market 2017-2021
Technavio recognizes the following companies as the key players in the global microarray biochips market: Abbott, Agilent Technologies, Illumina, PerkinElmer, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: BioChain, Bio-Rad Laboratories, Cepheid, Fluidigm, Merck, SuperBioChips Laboratories, and US Biomax.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is emerging LOC technology. The demand for LOCs is expected to increase rapidly during the forecast period. The LOC technology is mainly used in the field of diagnostics to perform various complex tests simultaneously. Along with this, LOCs formed by the combination of microfluids and microelectronics are used for medical diagnosis and chemical synthesis in academics and industries.”
According to the report, one driver in the market is increase in market presence with collaboration strategy. The competition in this market is intense as the number of players is high. The players are competing among themselves based on technology and price. Apart from these two factors, another factor that differentiates these competitors from each other is their presence in the market. Players increase their market presence by collaborating with those companies that own bio-content. Research says that companies generate around 60% better results when they work in collaborations. This increases their profit margins.
Further, the report states that one challenge in the market is lack of technical knowledge. Biotechnology, especially the drug discovery part of it, is something that is dependent heavily on the technology used. Technology is the factor that differentiates one player of the market from the other. In the current world, the demand for personalized medicines has increased. To fulfil this growing demand, companies need to discover, develop, and commercialize innovative personalized drugs. The first step in the development of a drug involves the use of the microarray biochip technology. This helps in creative processes, reduction in cost, and results in more accurate drug discovery.
Abbott, Agilent Technologies, Illumina, PerkinElmer, and Thermo Fisher Scientific, BioChain, Bio-Rad Laboratories, Cepheid, Fluidigm, Merck, SuperBioChips Laboratories, and US Biomax.
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