LAB-ON-A-CHIP AND MICROARRAYS (BIOCHIP) MARKET ANALYSIS
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.
Lab-on-a-chip and Microarrays (Biochip) Market Report Snapshots
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