North America Biochips Market Forecast 2019-2028
The North America biochips market is evaluated to record a CAGR of 13.65% over the projected period of 2019-2028. Biochips are used for large-scale studies of gene expression applications and cancer treatment and diagnostics, which boost their adoption. Factors such as well-developed infrastructure, and rapid technological advancements in biochip technology are propelling market growth in the region.
The North America biochips market is researched further by segregating the region into the United States and Canada. The Canadian market has immense opportunities, and is dependent on the usage and acceptance of microfluidics technology within the country. In 2018, Micralyne launched the microfluidics technology, which is a highly usable and functional set of standardized microfluidic processes utilized in various biomedical applications. This technology has been developed to be utilized in devices such as biochips, cell sorters, flow cells, lab-on-a-chip, high-pressure analytical, and separation, and analysis devices. This novel technology is encouraging innovations in the field of microfluidics LOC in Canada. The higher acceptability of point-of-care testing is driving the demand for biochips in the country. The use of POCT has been increasing in Canadian healthcare recently, and this trend is expected to continue in the future. The conferences held on technologies such as genomics and microarrays are driving the demand for novel technologies in the country, thereby benefitting the biochips market. Canada has a strong international reputation in cutting-edge R&D, with 60% of the top-cited researchers surveyed internationally. Also, the country has the world’s leading infrastructure and conducts related programs.
Some of the prominent companies functioning in the market are Abbott Laboratories, Illumina, Inc, Agilent Technologies, Inc, Thermo Fisher Scientific Inc, Cepheid, etc.
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