Global biochips market is forecast to experience robust growth and is on course to reach $3.4 billion by 2012. Aging population, third party reimbursement, and a growing number of individuals suffering from common chronic diseases represent the key market drivers. Significant dimensions of the vast parallel studies afforded by biochips have created a holistic means of viewing biological systems. In addition to the combination of various sciences, space, time and expense are all key factors in the future development of biochips. Modern day chips can contain a human genome comprising of 30,000 to 100,000 genes.
Global biochips market is forecast to register stupendous growth and reach US$3.4 billion by 2012, according to the report. United States represents the largest market with sales estimated to exceed US$996 million in 2008. Increasing at a robust CAGR of 29% over 2000-2010 period, Europe is the fastest growing biochips market, followed by the US. Within Europe, Germany represents the single-largest market, expected to account for an estimated 37.5% share in 2008. In terms of segments, World DNA chips market dominates the biochips industry with revenues forecast to exceed US$1.44 billion by 2012.
Protein chips market represents the fastest growing segment with an astounding CAGR of over 58% for the 2000-2010 period. Protein biochip industry is expected to undergo major changes due to the regard for protein biomarkers, and the tailback in lead optimization and target corroboration.
The biochip industry is in the early stages of growth and hence, not only promises potential but also is susceptible to vagaries of market forces. Competition, patent disputes, knowledge constraints (in terms of skilled employees, technical know-how) and financial strength might be a few impediments for firms engaged in this industry. A promising market arises from three factors – an aging population, third party reimbursement and a growing number of individuals suffering from common chronic diseases. Gene expression profiling will continue to be the leading application of biochips. Biochips would certainly evolve in terms of physical and technical characteristics. Following the focus on miniaturization of assays, they would turn smaller and more powerful with each generation.
The biochip industry is characterized by both intense rivalry and an equally well-developed web of alliances. There are numerous smaller companies and hence it is no surprise that the bigger companies are able to buy their way into the market. Companies currently compete within narrow confines of genomic demand and technological prowess. Leading players operating in the biochips market include Affymetrix, Applied Biosystems Group, Biomerieux, Bio-Rad Laboratories, Inc., Caliper Life Sciences, Inc., Cepheid Inc., GE Healthcare Ltd., Takara Bio, Inc., and Zyomyx.
The report titled “Biochips: A Global Strategic Business Report” available now at Electronics.ca Publications captures latest market trends, issues and technology advancements of the US, Canada, Japan, Europe (France, Germany, United Kingdom, and Rest of Europe), and Rest of World. The report further provides a brief insight into the competitive scenario, product and technology trends, new product innovations and developments and recent strategic corporate developments.