(PharmaNewsWire.Com, May 10, 2017 ) Asia-Pacific Biochips Market research report, published by Market Data Forecast estimates that the market is growing with a CAGR of 22.94% to reach USD 4.86 billion by 2021, from USD 1.73 billion in 2016, which amounts to a cumulative growth of USD 3.13 billion.
The tiny biological microarray chips, commonly known as biochips, have produced a make over effect on the global healthcare industry. Biochip products consist of microarrays arranged on a solid substrate of biochemical particles, which are assembled on a silicon or glass plate and permits tests to be performed at the same time in order to achieve higher throughput and speed.
Characteristically, a biochip's surface area is no larger than a fingernail. Within few seconds, a biochip can execute thousands of biological reactions, like decoding genes similar to a computer chip, which can accomplish millions of mathematical operations within few seconds; these devices have functions in gene sequencing, proteomics, genomics, clinical diagnosis, and drug discovery. The wide variety of biochip applications and products has propelled the growth of the market at an extraordinary level.
The report also presents detailed analysis of multitude of factors affecting Asia-Pacific Biochips Market bearing either positive or negative outcomes. Some of those factors are
Rise in the utilization of personalized medicine Demand for high speed diagnostics and increasing government funding Growing healthcare awareness Inadequate technical awareness related to biochips Low acceptance due to high cost and Accessibility to alternate technologies
For granular level understanding the Asia-Pacific Biochips Market is segmented based on type, and end user each being provided with Market Size Estimations and Y-o-Y Forecasts. On the basis of type, DNA Chips are the largest segment, followed by lab-on-chips and protein biochips market, due to development in the proteomics and genomics field. However, enhancement in the field of recombinant proteins would assist the growth of protein biochips market. On the basis of End User, the Biochips market is segmented into Hospitals and Diagnostics Centers, Biotechnology and Pharmaceutical Companies, Academic & Research Institutes
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to various reasons such as easy access to latest technologies, a large patient pool, and promising government schemes. China and India are projected to be the fastest growing markets in this region.
The major companies dominating the Asia Pacific Biochips market in this region are Agilent Technologies Inc., Fluidigm Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., GE Healthcare, Cepheid Inc., Illumina Inc., and Thermo Fisher Scientific Inc.
The Asia-Pacific Biochips Market report offers wide-range of scope: Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries Know more about key areas of industry growth via detailed Segment-level analysis on basis of type, and end user long with market size forecasts and y-o-y estimations Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics Strategic Analyses containing PESTLE and Porters Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Market Outlook - Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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