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2021-12-09 • Jay Sharma
The Global Biochip Market size was valued at USD 11.42 Billion in 2020 and is forecast to reach USD 27.51 Billion, at a CAGR of 11.7% through 2028, according to a new report by Reports and Data. The market growth is driven by increasing application of biochip in proteomics, genomics, and drug discovery, coupled with high investment in R&D.
Biochip technologies have a significant impact on genomic research. Various fields such as drug discovery, gene discovery, medical diagnostics, and toxicological research, are benefitting from the use of biochip technologies. Biochip technology is expensive, and its high cost is associated with the complexity of technology, various resources and extensive R&D that goes in for the product manufacturing. Several research institutes are focusing on enhancing the precision of the product while reducing costs and time. Rise in R&D investment, government funding and high potential in untapped markets is expected to offer lucrative growth opportunities for the biochip market.
Top Companies Profiled in the Report Include:
BioMrieux S.A., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, HORIBA, Ltd., PerkinElmer, Inc., Illumina, Inc., QIAGEN N.V., Thermo Fisher Scientific Inc., and Randox Laboratories Ltd., among others.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1375