The global biochips market size was USD 12.94 Billion in 2021 and is expected to register a revenue CAGR of 11.5% during the forecast period. Rising application of biochips in proteomics, genomics, and drug discovery coupled with high investment in Research & Development (R&D), growing adoption of biochips for personalized medicine, and increasing adoption of biochips for detecting allergies are some factors that are expected to drive the market revenue growth. In addition, prevalence of life-threatening diseases and increasing use of biochips in animal medical testing is expected to support industry growth as well as the revenue growth of the market.
Biochip is a microarray device that is used to enable proteomic, functional, and large-scale genomic analysis. The biochip acts as a microreactor to detect a particular analysis of protein, DNA, antibody, or biological module. The main function of a biochip is to quickly analyze hundreds of biological reactions. In addition, a biochip can be used to trace a person or animal and these chips are very effective for storing medical and demographic data.
Advancement of nanotechnology increases the capability and reduces the size of biochip and makes it useful for diagnostics, research, drug development, and toxicology studies which has led to growing adoption of biochips in various applications. These chips are now widely used in genomics, proteomics, personalized medicine, and other applications which prompt existing manufacturers and new startups to develop, invest, and introduce new technology in the market. For instance, Dutch startup Qurin Diagnostics is offering novel biomedical diagnostics using biochips. Their nanotechnology-based platform is used to monitor, diagnose, treat cancer, and other medical conditions. On 14 March 2022, U.S. startup Nutcracker Therapeutics raises USD 167 million for the advancement of its mRNA biochip-based manufacturing platform. In May 2021, TU Wien, which is a major university in Austria developed biochip that could be used to produce tissue beads in the desired size and supply them with drugs or nutrients.
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Growing need for high-speed diagnostics, increasing adoption of biochips for cancer treatment, drug discovery, and life science research are some of the key factors driving growth of global biochips market. According to the American Cancer Society, there are expected to be 21.7 million new cancer cases and 13 million cancer deaths by 2030. Growing adoption of biochips for cancer treatment encourages companies to introduce new technologies in the market. For instance, in March 2022, Changwei System Technology Co., Ltd, which is a life science company, started developing biochips for Cancer Differentiation Technology (CDA) and In-Vitro Diagnostics (IVD) applications. In addition, biochips are being used for toxicological, protein, and biochemical research for genetic applications. It can be used to quickly detect chemical agents during biological warfare, which helps in taking defensive measures.
Outbreak of COVID-19 impacted biochip market growth positively. Lab-on-a-chip and microarray witnessed a rise in demand owing to surge in demand for development of less time-consuming diagnostic kits. Various companies are involved in development of more efficient diagnostic kits. For instance, in October 2020, computer scientists, electrical engineers, and biomedical engineers at the University of California, Irvine created a new lab-on-a-chip that can help study tumor heterogeneity to reduce resistance to cancer therapies.
Drivers: Increasing adoption of biochips for detecting allergies
Many people have experienced food, pollen, and other allergies which lead to fever, skin reactions, vomiting, asthma, and diarrhea. Allergy testing biochips are a completely new technology and growing significantly at present. It contains various allergen components which are spotted in a microarray. This enables various investigations of patient-specific sensitization patterns in a single measurement. Biochips have high potential for allergy research which prompts companies to develop new technologies. For instance, in April 2021, Toray industries announced that it developed an allergy testing biochips that can detect multiple allergen-specific immunoglobin E (IgE) antibodies from trace amounts of blood. Increasing adoption of biochips for detecting and testing allergens is expected to drive revenue growth of the market during the forecast period.
Growing adoption of biochips in personalized medicine
Biochips are playing an important role in point-of-care diagnosis and in molecular diagnostics which is expected to create high demand for these chips in the development of personalized medicine. It is very useful for differentiating the protein of normal cells from cancer cells. The biochips provide potential for fast analysis of the entire proteome for protein-based therapeutics. In addition, these chips are dependable tools for detecting a variety of biomarkers with a limited quantity of samples and have the ability to diagnose and treat the disease, which creates high demand for these chips in personalized medicine.
Restraint: Chances of biohacking and privacy concern
Biochips are now used to speed up the daily routine of the individual by inserting it into their hands. These are useful for accessing the home, gyms, and office and storing emergency contacts, social media profile details, or e-tickets. In Sweden, thousands of people had microchips inserted in their hands. But scientists are raising concerns about the hacking of personal data from biochips. These chips can track locations, spending histories, driving habits and much more, which makes it vulnerable to hacking. In addition, chips inside a body lead to infection risks and a check on individual freedom. There is a recent regulation in the U.S. to ban forced usage of biochips. The chances of biohacking and privacy concerns are the factors that are expected to restrain revenue growth of the market.
High cost and lack of awareness regarding biochips
Development of bio-chip technology is cost-intensive due to need for extensive R&D and skilled developers, which results in high cost of end-product. The biochip system consists of microscale probes formatted on glass surfaces, which necessitate the use of automated robotic instruments for handling and scanning micro-scale samples. This technology is highly expensive due to the need for specific methodologies and tools for implementation. The commercial use of biochips has lagged due to the high price. Moreover, lack of awareness particularly in developing countries for biochips is further limiting market revenue growth during the forecast period.
Based on product, global biochip market is segmented into DNA chip, lab-on-chip, protein chip, and others. Lab-on-chip is expected to register a fast revenue growth rate during the forecast period owing to high demand for biochips in a wide range of applications such as proteomics, cell biology, molecular biology, chemistry, and others. Lab-on-chip devices provide numerous benefits such as cost efficiency, high parallelization, low volume reagents, high expandability, and high sensitivity, which is expected to drive growth of lab-on-chip segment. These chips have high usefulness in biomedical diagnostics and analytical chemistry. In addition, bimolecular operations done in lab-on-chips provide ultra-fast virus and bacteria detection technology, which is very much useful for molecular biology.
Based on application, global biochip market is segmented into genomics, proteomics, drug discovery & development, in-vitro diagnostics, disease diagnostics, and agriculture. In-vitro diagnostics segment is expected to account for a considerably large revenue share over the forecast period owing to rising demand for biochips in In-Vitro Diagnostics (IVD), including DNA application, lab-on-chip application, protein microarray application, and other array applications. It is also useful for other IVD solutions such as toxio-genomics, high throughput screening, and many more. For instance, in January 2022, researchers from the Universidad Politécnica de Madrid (UPM), the Universidad Carlos III de Madrid (UC3M), developed a new biochip that simplifies the manufacturing process of in-vitro skin and other multilayer tissues in a laboratory.
Genomics segment is expected to register a fast revenue growth rate during the forecast period owing to the growing adoption of biochips in genomics. Genomics is a procedure to study the structure and function of a genome of an organism. DNA microarrays and biochip technologies have resulted in generation of data on a scale that allows detailed analysis of human genome, which is leading to a rise in demand for these chips in genomics.
Substrate Materials Outlook:
Based on substrate materials, the global biochip market is segmented into glass, polymers, silicon, and others. Glass segment is expected to account for a larger revenue share in the global market during the forecast period owing to high demand for glass biochips in analysis and diagnosis purpose. It is less sensitive to organic environments and heat in comparison to polymer-based biochips. In addition, rising use of glass biochips for electrophoresis to separate long and short molecule stands is expected to support revenue growth of this segment.
Silicon segment is expected to register a fast revenue growth rate during the forecast period owing to rising use of silicon chips in assay development process. Silicon-based biochips are useful in various applications such as immunological and Deoxyribonucleic Acid (DNA) detection, Point-of-Care (PoC) diagnosis, medical inspection, and many more.
Based on technology, the global biochip market is segmented into microfluidics and microarray. Microfluidics segment accounted for a significantly large revenue share in 2021 owing to rising demand for microfluidics-based POC-diagnostic devices such as pregnancy tests and glucose monitoring kits. These types of devices are small, highly sensitive, accurate, cost-effective, and able to detect multiple analyses in one sample. These biochips offer a platform for automated drug discovery, DNA analysis, and biomolecular recognition. In addition, it can automate highly repetitive laboratory tasks by replacing heavy equipment with integrated and miniaturized systems.
Microarray technology segment is expected to register a rapid growth rate during the forecast period owing to the extensive use of biochips in drug development process to identify therapeutic candidates. Microarray technologies offer enormous savings in time and labor as compared to other technologies.
Based on end-use, global biochip market is segmented into pharmaceutical and biotechnology companies, academic & research institutes, hospitals & diagnostic centers, and other end-uses. Hospitals & diagnostic center segment is expected to account for a larger revenue share in the global market during the forecast period owing to growing use of biochips in diagnostic centers and hospitals. Biochips are rapidly adopted in hospitals and diagnostics centers to monitor and diagnose patients. The cost and time-saving feature of biochips and its capability to provide great throughput without the use of large and expensive instruments makes it popular in this segment.
Based on regional analysis, biochip market in North America accounted for largest revenue share in 2021 owing to increasing incidence of cardiac and chronic diseases, coupled with accessibility of advanced healthcare systems in the region, especially in the U.S. High prevalence of diseases such as diabetes and cancer in this region drives the need for clinical and research diagnosis. Government is launching various initiatives to encourage precision medicine along with increased investment in R&D for cancer genomics, which is expected to drive revenue growth in North America. For instance, in February 2022, U.S. President Biden announced the Cancer Moonshot to reduce the death rate of cancer by at least 50%, in the next 25 years.
Market in Asia Pacific is expected to register a fast growth rate during the forecast period owing to the fast expansion in the pharma and biotech industry in countries such as China and India. China is investing heavily in scientific research to accelerate development of precision medicines and improve new drug discoveries. Increase in investment in R&D of genomics, proteomics, next-generation sequencing, along with growing patient awareness regarding developments in diagnostic technologies is also contributing to market revenue growth. Increasing healthcare expenditure in the region is expected to support industry revenue growth over the forecast period.
Market in Europe is expected to expand at a steady revenue CAGR in the global biochip market over the forecast period owing to increasing adoption of biochips in genomics and proteomics, especially in the U.K. The development of genomics development projects creates high demand for the market across the region. For instance, in December 2018, Genomics England and the National Health Service (NHS) delivered 100,000 Genomes Project and aimed to reach 5 million genomic tests by 2024. In May 2021, Sphere Fluidics, which is a U.K.-based life science company developed microfluidic biochip technology, which is useful for analysis of isolated sales.
Competitive landscape of the global biochips market is moderately fragmented with a number of key companies operating at global and regional levels. Key companies are engaged in technological development and strategic alliances to expand their respective product portfolios and gain a robust footprint in global market.
Some of the major companies in the market include bioMerieux SA, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Fluidigm, Illumina, Inc., HORIBA, Ltd., PerkinElmer, Inc., QIAGEN, Randox Laboratories Ltd., and Thermo Fisher Scientific Inc., and Cepheid.
Some major initiatives taken by major companies include –
- On 23 September 2020, Nutcracker Therapeutics, Inc., an early-stage biotech disrupter developing mRNA-based therapeutic drug product including a proprietary, microfluidic, biochip-based platform, raised USD 60 Million in a Series B funding round led by Arch Venture Partners.
- On 9 April 2020, Bio-Rad Laboratories, Inc. which a global leader in life science research and clinical diagnostics products announced the acquisition of Celsee, Inc. Celsee Inc. is a company that offers consumables and instruments for the detection, isolation, and analysis of single cells.
Segments Covered in the report
This report offers historical data and forecasts revenue growth at a global, regional, and country-level, and provides an analysis of market trends in each sub-segment from 2019 to 2030. For this report, Reports and Data has segmented the global biochips market based on product, application, substrate materials, technology, end-use, and region:
Biochip Market Report Scope
Segments covered By Product Outlook, Technology Outlook , Substrate Materials Outlook, Application Outlook,End-use Outlook,Regional Outlook
By Product Outlook
Lab – on – Chips
By Technology Outlook
By Substrate Materials Outlook
By Application Outlook
By End-use Outlook
Pharmaceutical and Biotechnology Company
Academic and Research Institute
Hospitals and Diagnostic Centers
Middle East & Africa
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