Growing applications in genomics and proteomics research is a key factor expected to drive global market growth during the forecast period

PUNE, MAHARASHTRA, INDIA, May 24, 2023 /EINPresswire.com/ -- The recent report on the Global Biochips (Microarrays & Microfluidics) Market offers detailed information about the biochips (microarrays & microfluidics) industry and covers major points such as market size, share, revenue growth, key driving factors, restraining factors, risks, and key challenges. The report is well curated conducting extensive primary and secondary research, evaluated by market experts and professionals.

The global biochips (microarrays & microfluidics) market is expected to register rapid revenue CAGR over the forecast period. Key factors such as rising prevalence of chronic and infectious diseases, technological advancements in biochip platforms, increasing demand for personalized medicine, and rising investments in R&D activities are expected to drive global market growth during the forecast period.

Get a Sample PDF Copy of the Report (Including Full ToC, List of Tables & Figures, and Chart): https://www.xcellentinsights.com/enquiry/sample/385929

A biochip is a compact laboratory device that can conduct multiple biochemical reactions concurrently. It integrates biological components like DNA, proteins, or cells with microfabricated structures on a small chip or substrate. These biochips can be broadly classified into microarrays, consisting of an array of microscopic spots or wells on a solid surface such as glass or silicon or microfluidic biochips or lab-on-a-chip devices that miniaturize and integrate laboratory processes and functions on a single chip.

Biochips offer numerous advantages over conventional laboratory techniques such as faster analysis, higher throughput, reduced sample and reagent consumption, and ability to perform complex assays in a miniaturized format and are widely used in research laboratories, academic and research centers, and diagnostic centers. The biochips currently available are highly advanced in genomics, diagnostics, personalized medicine, and drug discovery, providing clinicians and researchers with powerful tools for studying and understanding biological processes, detecting diseases, and developing novel and more effective therapies.

Other factors such as improving research infrastructure and facilities, government initiatives and funding support for ongoing and upcoming research, and rising investments in developing novel and more effective products and platforms are expected to drive global market growth going ahead.

However, high costs associated with biochip instrumentation, insufficient funds, suitable infrastructure and facilities, dearth of skilled professionals, concerns such as technical complexity and standardization challenges, and sample compatibility are some key factors that can hamper overall market growth between 2023 and 2028.

DNA Chip Segment to Register High Revenue Growth Rate:
The DNA chip segment is expected to register a high revenue growth rate over the forecast period. This can be attributed to high usage of DNA chips in genomics research, molecular biology, and diagnostics, rapid advancements in DNA microarray technology, and growing inclination towards DNA chips due to potential benefits such as high throughput analysis, multiplexing capability, accuracy and sensitivity, data visualization and analysis.

North America to Lead in Terms of Revenue Share:
North America is expected to lead in terms of revenue share during the forecast period owing to rising prevalence of chronic diseases and infections, increasing demand for personalized medicine and precision diagnostics, rapid advancements in biochip technology, and rising investments in R&D activities by academic institutions, government bodies, and private companies. In addition, ongoing research on genetics and proteomics, presence of leading companies, and high focus on developing novel products are expected to drive North America market growth during the forecast period.

Browse Complete Report Summary with ToC here: https://www.xcellentinsights.com/reports/biochips-microarrays-microfluidics-market-385929

Some Companies Listed in the Report:
• Abbott
• Agilent
• PerkinElmer
• Fluidigm
• Illumina
• GE Healthcare
• Bio-Rad Laboratories
• Cepheid
• Thermo Fischer
• Roche

Biochips (Microarrays & Microfluidics) Industry Recent Developments:
• In January 2022, Onera Health announced the launch of its first Onera Biomedical-Lab-on-Chip, an ultra-low power biosignal sensor hub for wearable health applications at CES 2022.
• In June 2020, Sengenics announced the launch of ImmuSAFE COVID+, a multi-antigen, lab-based COVID-19 biochip test.

The global biochips (microarrays & microfluidics) market has been segmented based on type, application, and region:

Biochips (Microarrays & Microfluidics) Market Segment by Type:
• DNA Chip
• Lab-on-a-chip
• Protein Chip

Biochips (Microarrays & Microfluidics) Market Segment by Application:
• Academics Institutes
• Diagnostics Centers

Key Questions Addressed:
• What revenue CAGR is the global market expected to register during the forecast period?
• Which key players are leading in the global biochips (microarrays & microfluidics) market?
• What is the expected market size of the global biochips (microarrays & microfluidics) market between 2023 and 2028?
• What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
• What are some of the key challenges that the global market is expected to face during the forecast period?
• Which region is expected to account for largest revenue share over the forecast period?

You Can Purchase The Complete Report here: https://www.xcellentinsights.com/checkout/385929

Browse More Reports Of Interest:

Biochips Market
Microarray Biochips Market

Susan W
Xcellent Insights LLP
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