Biochips Market According to latest research on focusing on Leading Manufacturers | By Kenneth Research

Global Spending on Health: A World in Transition”, released in theyear 2019 by the World Health Organization (WHO), the global spending on healthcare recorded USD 7.8 trillion in 2017, which was an increase by USD 0.2 trillion from the recorded value of USD 7.6 trillion in 2016.

Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the BIOCHIPS MARKET during the forecast period.

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Global Biochips Market is valued approximately USD 12.7 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 18.4% over the forecast period 2019-2026.  Biochips are miniaturized therapeutic devices utilized within molecular research laboratory to perform real-time biological reactions. Biochips are used for the screening of new drugs which could offer various benefits and evaluate the benefits and risk of pharmaceuticals compounds. biochip have its wide application in DNA applications such as gene expression, SNP (Single nucleotide polymorphisms) genotyping, cancer diagnosis & treatment, genomics and other.  Biochips empower enormously parallel sub-atomic investigations to be done in a scaled down configuration with a high throughput. Rising incidences & treatment of cancer is the key driver for the growth of global biochip market. As rising incidences of cancer is anticipated to the rise in the demand of detection techniques.

According to the World Health Organizations cancer is among the leading cause of mortality and morbidity globally that accounts for 8.8 million deaths globally in 2015, which is around one third of the total number of deaths. According to the American cancer Society by 2030, the global burden is anticipated to grow by 21.7 million new cancer cases and 13 million cancer deaths. Apart from this, increasing government funding, growth in personalized medicines and technical advances are further contributing towards market growth. However, knowledge constraint with respect to technical know-how impedes the growth of the market over the forecast period of 2019-2026.

The regional analysis of global Biochips market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to high research & development investment in the pharmaceutical & biotechnology sector, coupled with the rising market demand for precision medicine. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as owing to presence of large population base, increase in disposable income, and improvement in patient awareness about biochips would create lucrative growth prospects for the Biochips market across Asia-Pacific region.

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 Market player included in this report are::
*Abbott Laboratories
*Agilent Technologies, Inc.
*Perkinelmer, Inc.
*Fluidigm Corporation
* Illumina, Inc.
*GE Healthcare
*Bio-Rad Laboratories Inc.
*Cepheid Inc.
*Thermo Fisher Scientific, Inc.
*Roche Diagnostics

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
 
By Type:
DNA Chips
Lab-On-A-Chip
Protein Chips
Other Arrays

By Fabrication Technology:
 Microarrays
 Microfluidics

By End User
 Biotechnology and Pharmaceutical Companies
 Hospitals and Diagnostics Centers
 Academic & Research Institutes
 Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
Asia Pacific
China
India
Japan
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026

Target Audience of the Global Biochips Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors     

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About Kenneth Research:
Kenneth Research is a reselling agency which focuses on multi-client market research database. The primary goal of the agency is to help industry professionals including various individuals and organizations gain an extra edge of competitiveness and help them identify the market trends and scope. The quality reports provided by the agency aims to make decision making easier for industry professionals and take firm decisions which helps them to form strategies after complete assessment of the market. Some of the industries under focus include healthcare & pharmaceuticals, ICT & Telecom, automotive and transportation, energy and power, chemicals, FMCG, food and beverages, aerospace and defense and others. Kenneth Research also focuses on strategic business consultancy services and offers a single platform for the best industry market research reports.

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