North America Lab-on-a-chip and Microarrays (Biochip) Market - Segmented by Product, Application, Technology, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The North America lab-on-a-chip and microarrays (biochip) market is expected to register a CAGR of 29% during the forecast period of 2018–2023. A biochip is a collection of miniaturized test sites (microarrays) arranged on a solid substrate that permits many tests to be performed at the same time, to achieve higher throughput and speed. Typically, a biochip's surface area is no larger than a fingernail. Like a computer chip, that can perform millions of mathematical operations in one-second, a biochip can perform thousands of biological reactions, such as decoding genes, in a few seconds.
Increasing Applications of Biochips in Proteomics
Biochips are being increasingly used in the area of biomedical and biotechnological research. With the advancement of technology in the medical field, there has been a rise in adoption of biochips in proteomics, such as in microarrays. The advantages of protein biochips include low sample consumption and its inclination towards miniaturization. For instance, protein microarrays can display multiple proteins simultaneously, and these characteristics translate into its ability to process thousands of samples parallelly. This characteristic of microarrays is important for proteome-wide analysis. Proteomics is being widely adopted for biomarker discovery and drug discovery. Moreover, the rise in demand for personalized medicine for diseases is contributing to the growth of the market. The other factors, such as increasing use of biochips in cancer treatment and diagnostics, demand for personalized medicine, and rapid technological advances in biochip technology are driving the lab-on-a-chip and microarrays (biochip) market.
Availability of Alternative Technologies
Microarrays (biochips) has been the technology of choice for large-scale studies of gene expression since their invention in the 1990s. Although microarray technology continues to advance, transcriptomics has expanded dramatically in the past few years, owing to the availability of new alternative technology, such as RNA-sequencing (RNA-seq) and Next Generation Sequencing (NGS).
Both sensitivity and specificity can be low with microarray technology. Moreover, accuracy can be negatively affected, owing to a low dynamic range of the existing microarrays. Background hybridization limits the accuracy of expression measurements, especially for transcripts present in small amounts. Probes also differ considerably in their hybridization properties. Microarrays are limited to interrogating only those genes for which probes are designed. Although microarray technology has its advantages (less labor intensive and economical), the availability of alternative technologies and their benefits in comparison with microarrays is restraining the growth of lab-on-a-chip and microarrays (biochip) market. The other factors, such as low commercial acceptability due to the high costs and lack of skilled labor is also hindering the market.
United States Leads the Market
The United States biochip market held the largest market share in 2017 in North America due to the presence of high-quality healthcare system. The biochip market has recently started in the emerging nations, wherein major investments are expected to happen.
Key Developments in the Market: