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The Global Biochips Market Growth Accelerated By Increased Adoption In Healthcare Sector

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Dhanesha Patil
The Global Biochips Market Growth Accelerated By Increased Adoption In Healthcare Sector

Biochips provide miniaturized, low-cost, and rapid detection of DNAs, RNAs, proteins and small molecule biomarkers. This ability to handle multiple tests simultaneously has increased their adoption in the healthcare sector for disease diagnosis. The global biochips market offer diagnostic assays like protein & nucleic acid microarrays, antigen antibody assays and tissue chips for assessing drug responses.

The global biochips Market is estimated to be valued at US$ 10.71 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The increased adoption in the healthcare sector is one of the key trends accelerating growth of the biochips market. Their ability to rapidly diagnose diseases at affordable costs is making them first choice for point-of-care testing. Biochips have potential to revolutionize disease diagnostics by enabling personalized medicine at an individual level. This helps doctors customize treatment according to each patient's genetic makeup. Their manufacturing using microfabrication technology on a silicon wafer helps produce millions of functional elements on a small chip to process biochemical reactions. This has helped address the need for testing of large number of samples simultaneously.


Segment Analysis

The Global Biochips Market Demand is dominated by the DNA chip segment. This is because DNA chips can provide high sensitivity, high density and multiplexed analysis capability using small chip areas and sample volumes. DNA chips are mainly used in genomics and molecular diagnostics for applications such as gene expression analysis, disease diagnostics testing, DNA sequencing, and genetic analysis.


Key Takeaways

The global biochips market is expected to witness high growth. The global biochips Market is estimated to be valued at US$ 10.71 Bn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.


Regional analysis related content comprises North America holds the largest share of the biochips market due to high adoption of advanced technologies and presence of major players in the region. The presence of advanced research infrastructure and funding for the development of biochips especially DNA chips has boosted the North American biochips market.


Key players related content comprises Key players operating in the biochips market are IBM, Cisco, NEC, Hexagon, ESRI, NICE Systems, Haystax Technology, Splunk, Verint Systems, Hitachi Vantara, Motorola Solutions, Genetec, Palantier Technologies, Tyler Technologies, and Numerica Corporation. Major players are focusing on R&D to develop advanced biochips with improved performance and new applications. For instance, in 2021 IBM launched new microfluidic biochips with embedded electrodes for biochemical analysis.

Get more insights on this topic:  https://www.trendingwebwire.com/biochips-market-size-and-share-analysis-growth-trends-and-forecasts/

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Dhanesha Patil
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