Global Biochip Market Size To Exceed USD 37.49 Billion by 2033; Market Study Report

Global Biochip Market Size, Statistics & Facts 

According to a research report published by Spherical Insights & Consulting, the Global Biochip Market is Expected to Grow from USD 11.21 Billion in 2023 to USD 37.49 Billion by 2033, at a CAGR of 12.83% during the forecast period 2023-2033. 

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the Global Biochip Market Size, Share, and COVID-19 Impact Analysis, By Type (DNA Chips, Protein Chips, Lab-on-chip, Tissue Arrays, and Cell Arrays), By End Use (Biotechnology and Pharmaceutical Companies, Academic & Research Institutes, Hospitals, and Diagnostic Centers, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 - 2033.

The industry that produces and markets biochips microchips or microarrays that can identify and quantify biological molecules is known as the biochip market. Research and development in domains such as genetics, drug discovery, and disease diagnostics employ biochips. Furthermore, advances in biotechnology, personalized medicine, and the increasing demand for faster and more accurate diagnostics are some of the reasons propelling the worldwide biochip market. Important motivators include the potential applications of biochips in disease monitoring and diagnostics, as well as their use in proteomics, genomics, and drug discovery. As long as innovation continues to attract money and expand its influence in the healthcare and life sciences sectors, the market is expected to rise steadily. However, this is because biochip analysis requires specialized research personnel, advanced laboratory equipment, and reagents, the entire procedure is quite costly.

The DNA chips segment dominated the greatest share in 2023 and is expected to grow at a CAGR of 12.88% during the forecast period. 

Based on the type, the global biochip market is categorized into DNA chips, protein chips, lab-on-chip, tissue arrays, and cell arrays. Among these, the DNA chips segment dominated the greatest share in 2023 and is expected to grow at a CAGR of 12.88% during the forecast period. The abundance of goods accessible for certain applications, including gene expression, SNP genotyping, genomics, drug development, cancer diagnosis and therapy, and agricultural biotechnology, might be attributed to this. 

The biotechnology & pharmaceutical companies segment held the greatest share in 2023 and is expected to grow at a CAGR of 12.22% during the forecast period.

Based on the end use, the global biochip market is categorized into biotechnology and pharmaceutical companies, academic & research institutes, hospitals and diagnostic centers, and others. Among these, the biotechnology & pharmaceutical companies segment held the greatest share in 2023 and is expected to grow at a CAGR of 12.22% during the forecast period. Biochips are used by pharmaceutical companies for several reasons, which advance drug research, production, and development. These companies employ biochips for high-throughput screening of compound libraries, which enables them to swiftly select lead candidates for further development.

North America is estimated to hold the highest share of the global biochip market over the predicted timeframe.

North America is estimated to hold the highest share of the global biochip market over the predicted timeframe. This is attributable to many important elements, including the rising incidence of chronic illnesses, advances in technology, and the expanding need for individualized therapy. Innovation and the use of biochip technologies in hospitals and diagnostic centers are encouraged by the region's strong healthcare infrastructure and large investments in research and development. 

Asia Pacific is anticipated to grow at the fastest pace in the global biochip market during the forecast period. Advanced infrastructure is driving the market's regional expansion and is expected to greatly improve clinical research opportunities in the area. 

Company Profiles

Major vendors in the global biochip market are IBIOCHIPS, PerkinElmer, Inc., Cellix Ltd, Bio-Rad Laboratories, Inc., Randox Laboratories Ltd., Standard BioTools, Agilent Technologies, GE HealthCare, Illumina, Inc., IBIOCHIPS, LI-COR, Inc., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In August 2023, in Bengaluru, India, Illumina Inc. opened a state-of-the-art Solutions Center and new office. By increasing access to genomics in the area, this expansion hopes to improve healthcare and tackle South Asia's climate change issues.

Market Segment

This study forecasts revenue at regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global biochip market based on the below-mentioned segments: 

Global Biochip Market, By Type  

• DNA Chips
• Protein Chips
• Lab-on-chip
• Tissue Arrays
• Cell Arrays

Global Biochip Market, By End Use

• Biotechnology and Pharmaceutical Companies
• Academic & Research Institutes
• Hospitals
• Diagnostic Centers
• Others

Global Biochip Market, By Regional

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America 
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa 
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa