LAB-ON-A-CHIP AND MICROARRAYS (BIOCHIP) MARKET ANALYSIS

Lab-on-a-chip and Microarrays (Biochip) Market, By Type (Lab-on-a-chip and Microarray), By Product (Instruments, Reagents and Consumables, and Software and Services), By Application (Clinical Diagnostics, Drug Discovery, Genomics and Proteomics, and Other Application), By End User (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostics Centers, and Academic and Research Institutes), and By Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America)-

Published In : Mar 2023
Code : CMI515
Pages :151
Formats :
Excel and PDF
Industry : Medical Devices

Lab-on-a-chip and Microarrays (Biochip) MarketSize and Trends

The global lab-on-a-chip and microarrays (biochip) market was valued at US$ 15,268.0 Mn in 2022 and is forecast to reach a value of US$ 41,690.9 Mn by 2030 at a CAGR of 13.43% between 2023 and 2030.

Global Lab-on-a-chip and Microarrays (Biochip) Market Trends:

Technological advancements is a recent trend

Figure 2. Global Lab-on-a-chip and Microarrays (Biochip) Market Share (%), by Type, 2023

Rise in demand for biochips and bio-arrays is another trend

The demand for biochip and bio-array techniques is increasing or has increased due to the need to shorten turnaround times and miniaturize biological/clinical tests used for research and diagnosis. The biochip (microarrays) allows tests to be performed simultaneously, achieving high throughput and speed. Furthermore, technological advancements associated with these techniques and a broad product line-up is expected to augment the market growth. This trend is also expected to continue during the forecast period, driving the growth of the market.