Growing Geriatric Population, Rise in R&D Funding Combined with Numerous Applications Leads Demand Growth for Global Biochips Market to Reach $23 Billion by 2025 – Market Research Report by Industry Experts, Inc.
Tuesday 06 Aug 2019
Industry Experts, Inc. introduced the global market research report on Biochips. The new report entitles "Biochips – A Global Market Overview" reveals that the Asia-Pacific market is expected to witness the high growth in the coming years with a projected 20% CAGR between 2018 and 2025.
Rise in R&D investment as well as government funding in emerging economies are expected to provide lucrative growth opportunities for the biochips market. Increase in prevalence of cancer, immunological disorders, and viral infections majorly drive the growth of the global biochips market. Other factors that boost the market growth include rise in geriatric population, increase in number of biochip applications, and high adoption of personalized medications. On other hand, lack of technical knowledge related to biochips is a prominent restraint lowering the demand for biochip products.
Biotechnology & Pharmaceutical Companies constitutes the largest end user market for Biochips globally, estimated at US$2.8 billion in 2018 and is expected to register a CAGR of 17.6% over 2018-2025 in reaching a projected US$8.8 billion by 2025. The overall global market for Biochips is expected to reach US$8.5 billion in 2019.
Biochips product types analyzed in this report include DNA Chip, Lab-on-a-Chip, Protein Chip and Other Biochips while fabrication technologies of Biochips studied comprise Microarray based biochips and Microfluidics based Biochips. The report also analyzes the end-user sectors of Biochips comprising Biotechnology & Pharmaceutical, Companies Academic & Research Institutes and Hospitals & Diagnostics Centers.
The report reviews, analyses and projects the Biochips market for global and the regional markets including the North America, Europe, Asia-Pacific, South America and Rest of World for the period 2016-2025 in terms of value in USD. These regional markets further analyzed for 13 independent countries across North America – the United States, Canada and Mexico; Europe – Germany, France, the United Kingdom, Italy and Spain; Asia-Pacific – Japan, China, India and South Korea; and South America – Brazil.
This 334 page Biochips market report includes 237 charts (includes a data table and graphical representation for each table), supported with a meaningful and easy to understand graphical presentation, of the market. The report profiles 11 key global players and 28 major players across the North America – 18; Europe – 7; and Asia-Pacific – 3. The study also provides the listing of the companies engaged in research & development, manufacturing and supply of Biochips. The global list of companies covers addresses, contact numbers and the website addresses of 160 companies.
California, USA based Industry Experts, Inc. is a multi-industry focused market research provider.
For more details, please visit: https://industry-experts.com/verticals/biotechnology/biochips-a-global-market-overview