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Biochips Market

Market Insights on Biochips covering sales outlook, demand forecast & up-to-date key trends

Biochips Market by Product, Application, End User & Region - Forecast 2022 – 2032

Biochips Market Overview (2022-2032)

The biochips market revenue by the end of 2021 was US$ 5.6 Bn. The biochips market is expected to reach US$ 18.9 Bn by 2032, as it is estimated to grow at a CAGR of 11.8% for 2022-2032.

Estimated Year (2022) Market Value

US$ 6.2 Bn

Projected Year (2032) Market Value

US$ 18.9 Bn

CAGR% (2022-2032)

11.8%

Top 5 Vendor Market Share

Around 35%

Biochips are small devices resembling integrated circuits built from organic molecules and used for analysing organic molecules related to living organisms. Biochips are developed based on microfluidic and microarray technology. One type of theoretical biochip is a small device built from large organic molecules such as proteins that can perform the functions like processing and data storage like an electronic computer.

Another type of biochip is a small device that can perform rapid, small-scale biochemical reactions to identify genetic sequences, airborne toxins, environmental pollutants, or other biochemical constituents. Biochips, e.g., lab-on-a-chip, which act as "minilabs" to simultaneously test multiple analyses from a single sample. Biochips save a lot of resources, costs, and time. The device can be used to rapidly screen a wide variety of biological samples in a single system for a wide range of applications, including detection of hazardous biological agents and disease diagnosis.

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2017-2021 Biochips Market Demand Outlook Compared to 2022-2032 Forecast

Biochips market is estimated to grow at a CAGR of 11.8% for the forecast period.

The use of biochips for disease diagnosis and treatment opens new doors for the biochip industry in the global market. Biochips are increasingly being used as diagnostic tools for diseases such as cancer, as biochips allow doctors to monitor biological processes in patients without the need for invasive procedures such as biopsies.

It also helps detect early signs of illness before symptoms appear, thus allowing doctors to treat patients effectively and prevent full-blown illness later. Biochips can also be embedded in medical devices such as pacemakers and insulin pumps.

This trend will increase the potential for biochips as more patients choose biochips over traditional treatments such as surgery and drugs due to their fewer side effects and improved quality of life.

Increasing use of biochips in personalized medicine

Biochips play an important role in point-of-care diagnostics and molecular diagnostics and are expected to lead to increased demand for biochips in the development of personalised medicine. It is very useful to distinguish between proteins in cancer cells and normal cells. Biochips enable rapid analysis of the entire proteome for protein-based therapeutics. Moreover, these chips are reliable tools for detecting various biomarkers in a limited number of samples and can diagnose and treat diseases, thus increasing the demand for these chips in personalised medicine.

Sudip Saha
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Regional Analysis

North America was estimated to hold the largest market share for the biochips market with a market share of 28.7% for 2021 and South Asia and Pacific is estimated to be the fastest growing region for the forecast period with a CAGR of 12.2%.

Due to the region's large domestic income and the presence of key industry participants, an ageing population, rising rates of lifestyle diseases, and an increased incidence of cardiac ailments, North America has a dominant position in the global biochip market.

South Asia and the Pacific have a huge population, creating a large demand for healthcare services. Investments and developments in medical technologies and development in biochip technologies globally can be seen in this region and allow the market to grow.

Country wise insights

Research and Development to Cure Chronic Diseases and Government Support Driving Market for Biochips in US

The need for clinical and research diagnosis is driven by the high frequency of diseases like cancer and diabetes. The US Government is initiating a number of programmes to promote precision medicine, together with increasing funding for cancer genomics research and development, which is anticipated to fuel revenue growth in USA. For instance, U.S. President Biden announced the Cancer Moon-shot in February 2022, with the goal of lowering the death rate from cancer by at least 50% over the following 25 years.

The rapid expansion of biochip applications, particularly those for drug development, forced numerous R&D organisations and teams to find a method that was both economical and effective. The country has a large expenditure on R&D in healthcare and has several companies which operate in this sector, these factors can allow the growth of biochips market in US.

Growing Use of Biochips in Microarrays and Proteomics Supporting Growth of Biochips Market in Germany

Gene expression, drug discovery, point of care and in vitro diagnosis, proteomics, and genomics are a few applications for biochips. The market for biochips is dominated by the German economy in Europe.

The demand for biochips in Germany is rising quickly due to the growing use of these devices in biomedical research and biotechnology. The growing use of biochips in microarrays and proteomics is the main driver driving the German market for biochips. The main factor impeding the expansion of the regional biochip market is the accessibility of substitute technologies.

Growth of Healthcare Sector to Drive the Growth of Biochips Market in India

Major market players are growing their operations, particularly in India. A growing number of studies have fuelled the demand for LOC models in India, contributing to the expansion of the market as a whole. Microarray chips are increasingly being used to diagnose viral infections in animals in India. The growth of the market is being driven by biochip start-ups and the expansion of lab-on-a-chip research. India, meanwhile, is anticipated to experience development. This can be attributed to the expansion of the life sciences sector of the economy. Major market companies are also growing their businesses, particularly in countries like India.

Together, India has a sizable patient population, making these extremely attractive investment opportunities. As a result of encouraging government initiatives for biotechnology-related research and development, India is one of the most profitable healthcare markets as a result. India is home to an increasing number of research projects, which has increased demand for lab-on-a-chip (LOC) models and aided in the expansion of the industry as a whole. In addition, academic research has been started by biochip businesses in an effort to attract funding and change the drug development sector.

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Category wise Insights

Why is Lab-On-Chip Estimated to Grow the Fastest Over the Forecast Period?

Lab-on-chip gadgets give various advantages, like low volume reagents, high parallelization, expense productivity, high responsiveness, and high expandability. These chips have high performance and convenience in logical science and biomedical diagnostics. Likewise, bimolecular activity lab-on-chips give super-fast results for microscopic and infectious organisms.

This will be helpful for atomic science. Biochips will grow in popularity as a result of increased spending on cutting-edge genomic research, sequencing, and growing interest in hereditary problem analysis. The market is also expected to grow globally due to the growing number of genomics consumers and hereditary issues.

Due to the above mentioned reasons, lab-on-chip is estimated to grow at a CAGR of 12.5% over the forecast period.

Why the Drug Discovery and Development is Estimated to be the Largest Application of Biochips?

Several diseases are in existence today that are do not have a perfect cure or drug developed to tackle, for example: various types of cancers, common cold, AIDS etc. Diseases on the other hand are constantly evolving and making the older anti-bodies obsolete.

Biochips can help in the progress and development of drugs and antibodies against such diseases and for the same reason, drug discovery and development is estimated to have held the largest market share of 29.5% for 2021 and is also estimated to dominate the biochips market with regards to the application of biochips.

Why the Health Research Institutes Are Estimated to be the Fastest Growing Type of End-Users of the Biochips?

Health research institutes use research biochips for diagnostics and focus on analysing patients and screening. The organizations are enjoying weighty research and development projects to coordinate biochip innovation in different wellbeing applications.

To better understand various types of diseases and certain diseases which have made break-through cases in human beings over the past few years like monkey pox and COVID-19, biochips can find numerous applications in the health research institutes.

Competitive Landscape

Companies which develop biochips are predominantly in the healthcare and pharmaceutical industries. Biochips are still in a developing phase and for this reason, several universities and research institution are trying to use and develop biochips as well.

  • In July 2022, University of Massachusetts Amherst conducted a research where the isolation and detection of molecules was done simultaneously and also within the same location in the micro device. This research made the use of graphene for the purpose of electrokinetic biosample processing. This development could allow lab-on-chips to become smaller than before and faster.
  • In March 2022, Nutcracker Therapeutics raised US $ 167 billion to develop its mRNA therapeutics offering using its biochip-based manufacturing platform. The intention of this funding is to develop mRNA-based medicine to tackle cancer.

Scope of report

Attribute

Details

Market value in 2021

US$ 5.6 Bn

Market CAGR 2022 to 2032

11.8%

Share of top 5 players

Around 35%

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Billion for Value

Key Regions Covered

North America, Latin America, Europe, South Asia & Pacific, East Asia and the Middle East & Africa

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Australia & New Zealand, GCC Countries, Turkey and South Africa

Key Segments Covered

Product, Application, End User and Region

Key Companies Profiled

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Biochips Market by Category

  • By Product:

    • Protein Chip (Protein Microarray)
    • DNA Chip (DNA Microarray)
    • Lab-on-a-Chip (Microfluidic Chip)
    • Others
  • By Application:

    • Drug Discovery & Development
    • Food Diagnostics
    • Disease Diagnostics
    • Genomics
    • Non-biological Applications
    • Others
  • By End User:

    • Biotech & Life Science Companies
    • Pharmaceutical Companies
    • Hospital & Diagnostic Centers
    • Health Research Institutes
    • Others
  • By Region:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

Frequently Asked Questions

Some leading of the biochips are Agilent technologies, Thermo Fisher Scientific, Takara Bio Inc and Capheid Inc.

South Asia and Pacific is estimated to have the highest growth for the biochips market during the forecast period of 12.2%.

Improving the various medical and healthcare studies and processes.

Drug discovery and development had the largest market share for the biochips market of 29.5% in 2021.

Disease diagnostics has the highest CAGR of 12.4% for the forecast period.

U.K, U.S.A, China, Germany and India.

The market share of South Asia and Pacific for the year 2021 for the biochips market was 13.4%.

North America had a market share of 28.7% in 2021 for biochips market.

India has the highest CAGR for the forecast period, which is 12.7%.

The estimated market value for biochips market for the year 2022 is US$ 6.8 Bn.

For East Asia region, the CAGR for the forecast period is estimated to be 9.7% for the biochips market.

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Sudip Saha
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