Europe Biochips Market Forecast 2019-2028
The Europe biochips market is predicted to reach a CAGR of 12.98% over the estimated period, 2019-2028. The factors boosting the adoption of biochips in the genomics and biotechnology industry in Europe are R&D and technological innovation of biochip and microarrays platforms, gene profiling, management of diseases, and application of biochips in forensic and defense.
The Europe biochips market is researched further by dividing the region into countries such as Germany, Poland, France, Belgium, Russia, Italy, the UK, and the rest of Europe that includes Ireland, Greece, Sweden, Austria, Finland, Switzerland, and Portugal. The Russian healthcare system is highly decentralized. In April 2020, Russia’s FMBA rolled out two new test systems, based on coronavirus detection chips. One of the test systems allow reducing the testing time from 90 to 15-20 minutes, and the other test system is microfluidic chips that allow individual testing for coronavirus infection. The Belgian healthcare system is considered one of the best in the world. The country’s compulsory health insurance system came into existence in 1945. The Belgian start-up miDiagnostics is developing a technology for diagnosing diseases swiftly and precisely, and at the point-of-care using a silicon lab on a chip and nanoscale-precision microfluidics.
In Poland, the government has undertaken several initiatives to support new biotech companies. The country is becoming an emerging center for pharmaceutical companies and biotech startups. In the rest of Europe, there is an increased demand for a quick and accurate diagnosis due to the burden of the aging population and chronic diseases. This can be endowed by a lab on a chip and microarray technology. In Spain, the biotech and pharmaceutical companies are making huge investments, and expanding their share by meeting the needs for lab-on-a-chip services and POC testing.
Agilent Technologies, Inc, bioMerieux SA, Bio-Rad Laboratories Inc, Illumina, Inc, PerkinElmer Inc, etc. are one of the renowned companies operating in the region.
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