BIOCHIPS MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Growing Demand for Point-of-Care Diagnostics

Rising global need for more accessible, affordable and rapid point-of-care testing can drive the market growth. Traditionally, diagnostic testing has been centralized in large clinical laboratories requiring samples to be shipped, sometimes over large distances, for analysis. This centralized model comes with disadvantages like delays in receiving results, high costs of infrastructure, and inability to conduct real-time or continuous monitoring applications. However, miniaturized biochip technologies are now making "mini clinical laboratories" a reality through portable and easy-to-use diagnostic devices. This decentralized, point-of-care approach provide benefits to healthcare providers and patients. It allows for timely clinical decisions, enrollment in early treatment programs, and management of chronic conditions outside of hospital settings. Such on-site, real-time diagnostic capabilities are becoming increasingly important as populations age and face a growing chronic disease burden. There has been huge demand for convenient, low-cost biochip-based tests for applications such as infectious disease screening, cancer screening, non-communicable disease monitoring and personal genome analysis. This rising requirement for point-of-care testing worldwide can offer opportunities for companies involved in developing biochip-powered diagnostic solutions.