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$19.71 Billion Growth in Global Biochip Market 2020-2024 | North America to Offer Significant Opportunities | Technavio

LONDON--(BUSINESS WIRE)--#GlobalBiochipMarket20202024--The biochip market is expected to grow by USD 19.71 billion, progressing at a CAGR of almost 22% during the forecast period.

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The increased popularity of personalized medicine is one of the major factors propelling the market growth. However, factors such as the lack of trained professionals will hamper growth.

More details:

Biochip Market: Technology Landscape

Based on the technology, the market saw maximum growth in the microarrays segment in 2019. The segment is driven by the increased applications of microarrays in gene identification, SNP detection, gene expression profiling, and comparative genomic hybridization. The market growth in the segment will be significant over the forecast period.

Biochip Market: Geographic Landscape

By geography, North America is going to have lucrative growth during the forecast period. About 40% of the market’s overall growth is expected to originate from North America. Factors such as the presence of major pharmaceutical companies in the US and the increased adoption of personalized medicine are driving the growth of the biochip market in North America.

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Companies Covered:

  • Agilent Technologies Inc.
  • BioChain Institute Inc.
  • Bio-Rad Laboratories Inc.
  • Fluidigm Corp.
  • General Electric Co.
  • Illumina Inc.
  • PerkinElmer Inc.
  • Prescient Medicine Holdings Inc.
  • RayBiotech Life
  • Thermo Fisher Scientific Inc.

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2020, 2021, until 2025
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • Microarrays - Market size and forecast 2019-2024
  • Microfluidics - Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Agilent Technologies Inc.
  • BioChain Institute Inc.
  • Bio-Rad Laboratories Inc.
  • Fluidigm Corp.
  • General Electric Co.
  • Illumina Inc.
  • PerkinElmer Inc.
  • Prescient Medicine Holdings Inc.
  • RayBiotech Life
  • Thermo Fisher Scientific Inc.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


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Last Updated: 03-Feb-2021