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Global biochips market: $14.4 billion industry forecast by 2018

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Global Biochip Markets: Microarrays and Lab-on-a-Chip - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-03-24 07:34:04
The global biochips market was valued at $3.3 billion in 2012 and is expected to increase to nearly $3.9 billion in 2013. The market is forecast to reach $14.4 billion in 2018, and register a compound annual growth rate (CAGR) of 30% for the period 2013 to 2018.Biochip-based products have game-changing potential across a range of markets. Growth in next-generation sequencing-based diagnostics applications, use of lab-on-a-chip (LOAC) formats in point of care applications, and migration toward more integrated on-chip systems will impact everything from drug development to diagnostics.With the discovery of new, clinically relevant genomic and proteomic content, biochips are poised to meet the need for new-generation diagnostics that can measure multiple biomarkers in a single assay. A shift in focus from R&D-related tools to clinical applications that are accurate, easy to use, low cost, and suitable for automation will drive tremendous growth in this market over the next five years.

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