Biochip Products and Services Market
Biochip Products and Services Market - (Microarrays, Reagents, Drug Discovery, Life Science Research, IVD Tests) U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018
Biochips are miniaturized laboratories that can perform thousands of biochemical reactions, such as polymerase chain reactions (PCR). The U.S. biochip product market held majority share of the total biochip market in 2011, at over 70%. However, the U.S. biochip services market will grow faster than the products market, due to increased opportunities of maintenance and technical support of microarray devices owing to growth in their numbers and obsolescence of older machines. The growth of this segment will also be spurred by the introduction of biochip consulting and subscription programs directed towards building long term relationships with customers.
Biochip services consist of contract research, consulting and technical support agreements. These also comprise of subscription programs that provide end-users with access to proprietary technologies, systems and processes. These services are directed towards building long term relationships with customers. The biochip services market segment is expected to witness higher growth rate than that of the products market due to a continuous increase in the number of microarray devices being used and aging of previously installed systems.
In the U.S. biochip products market, the microarray market is identified as the most attractive segment owing to the following factors:
- Large number of applications of microarrays, for example, gene expression profiling, comparative genomic hybridization, geneID, cancer and genetic disorder treatment, personalized medicine, drug discovery and many others
- The U.S. government‘s promotional initiative towards research of cancer treatment through genetics (e.g. The Human Genome Project, by the Department of Energy, U.S.) will strengthen the demand for microarrays in the field of cancer treatment
- The rapid growth in the personalized medicine market in the U.S. will further drive the demand for microarrays
Biochips are a variety of microchips designed to function in a biological environment and are capable of measuring and detecting a large number of biomarkers and performing many biochemical reactions at the same time. The development of biochips is a huge achievement for the global biotechnology industry. Biochips are sometimes quoted as miniature laboratories. Capable of performing thousands of biochemical reactions simultaneously, these chips help unravel complex mysteries behind the innumerous biochemical processes taking place inside living cells.
The ability of biochips to reliably screen a large number of biological agents makes them useful for many purposes and in numerous fields of research. From disease diagnosis to detection of chemicals and bioterrorism agents used in biological warfare, biochips are foreseen to form a big part of a number of core research areas in the near future, providing a huge thrust to the overall biochip market across the globe.
The report presents a systematic analysis of the U.S. biochip market. The report segments the overall U.S. biochip market into two major categories – biochip services and products.
The report analyzes the market and derives important forecasts based on primary and secondary research techniques and tools. The report, with its vast coverage of every important aspect of the U.S. biochip products and services market, proves to be a valuable asset for decision makers and strategy designers in the field of biochip technology.
Overview of the U.S. Biochip Products and Services Market
The U.S. biochip market, the largest regional segment of the global market for biochip products and services, held a share of close to 70% in the global market in 2011. It is expected to rise at an approximately 10% CAGR between 2012 and 2018, allowing the market to rise from a net worth of US$2.4 billion in 2011 to US$4.7 billion by 2018.
Of the key biochip products in the U.S. market analyzed in the report, the segment of microarrays held the largest share of the market in 2011. This was chiefly owing to the enormous technical advancements observed in the field of microarrays and the rise in biochip applications since the successful finish of the Human Genome Project.
The sub-segment of DNA chips held the largest share of the microarray segment owing to increased demand from the fields of drug delivery, epidemiological research, and gene expression profiling. However, in the future, the sub-segment of laboratory and protein chips is expected to observe the maximum growth owing to the widened set of capabilities and advanced products in the fields of drug delivery and diagnostic testing.
Based on key applications of biochips, the report segments the market into drug delivery, life science research, defense, disease, in vitro diagnostic (IVD) testing, and forensic medicine.
Factors such as the rising applications of proteomics and genomics in the field of cancer research, and heightened research activities in the fields of drug discovery, life sciences, and personalized medicines will provide enough thrust for swift growth of the market over the report’s forecast period. However, certain factors such as high costs of biochips and availability of cheap alternatives such as mass spectrometry will hamper market’s growth to certain extent.
Major Players in the U.S. Biochip Products and Services Market
The report also presents a detailed competitive analysis of the U.S. biochip market. Profiles of leading businesses, including Illumina, Inc., Life Technologies Corporation, and Affymetrix, Inc. are analyzed in great detail. Profiles of other key businesses in the market are also studied based on a detailed overview of the company, recent developments, product portfolio, and business strategies.
This report gives you access to decisive data such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments