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Kenneth Research, in its repository of market research reports, have recently added a report on Global Biochips Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022-2031. The Global Biochips Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Forecast Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
A Biochip is a collection of miniaturized test sites (microarrays) arranged on a solid substrate that can perform hundreds or thousands of simultaneous biochemical reactions in order to achieve higher throughput and speed. Biochips help researchers to quickly see large number of biological analytics and are used in a range of research applications within the biotechnology sector, including pharmaceuticals, proteomics and genomics. Biochips are also used in analysis of organic molecules associated with living organisms and help in identifying gene sequences, airborne toxins, environmental pollutants and other biochemical constituents. Although, biochips have been developed and commercialized in mid eighties but the market has transformed in the starting of last decade.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Presently, the biochips market is undergoing rapid expansion with the discovery of new applications and the development of existing technologies. The key driving forces for the market of biochips are: growth in personalized medicine market, increase in government spending/ private investment in healthcare budgets and R&D respectively, rising case of lifestyle related diseases and so on. Various factors such as less accuracy of biochips that may lead to wrong analysis, low rate of translation of discoveries in drugs, medical devices and protein biomarkers, low acceptance due to high cost and availability of alternative technologies are restraining the growth of biochips market.
The key players in global biochips market are Agilent technologies Affymetric Inc, Gene system Inc, Agendia BV Inc, Customarray inc, Digital genomics inc, Bio chain institute Inc, Biomerieux SA, Bio-rad laboratories inc, Cepheid Inc, Caliper life sciences Inc, Cybrdi Inc, EMD Millipore, Elim Biopharmaceuticals, Falcon Genomics, Genalyte and so on.
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Companies profiled in this report
1 Agilent technologies
2 Affymetrix inc
3 Gene system inc
4 Agendia BV inc
5 Customarray inc
6 Digital genomics inc
7 Bio chain institute Inc
8 Biomerieux SA
9 Bio-rad laboratories inc
10 Cepheid Inc
11 Caliper life sciences inc
12 Cybrdi inc
13 EMD Millipore
14 Elim Biopharmaceuticals
15 Falcon Genomics
16 Genalyte
17 Oxford gene technology
18 Wafergen biosystems inc
19 Predictive biosciences
20 Fluidigm corp
21 Gamida for life group
22 Illumina Inc
23 Life technologies corp
24 Origene technologies Inc
25 Perkinelmer inc
26 Roche nimblegen inc
27 Sequenom
28 Sigma aldrich corp
29 Imgenex
30 ISU ABXIS co ltd
31 Quantalife inc
This Occams Research Report covers
1. Historical data
2. Revenue forecasts, growth rates and CAGR upto 2028
3. Industry Analysis
4. Competitive Analysis
5. Key geographic growth data
6. In-depth profiling of companies
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Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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