The Global Biochips Market Was Valued At US$ 7,026.4 Million In 2016 And Is Expected To Witness A Robust CAGR Of 16.2% Over The Forecast Period (2017 – 2025).
The growing demand for biochip and bio-array techniques, as well as quick technological advancements associated with these techniques, a broad product portfolio, and the rising need to shorten turnaround times and miniaturise biological and clinical tests used for research and diagnosis, are driving up demand for these techniques. The market for biochips is also influenced by their use in a variety of research applications in the fields of genotyping, proteomics, and genomics, as well as increased spending on clinical research and significant resource allocation for genomic and proteomic research. These applications range from the identification of disease markers to accelerated drug development. Additionally, the market for biochips is benefited by the ageing population increase, the expansion of healthcare infrastructure, and rising healthcare costs.
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