Global Biochips Market to See Robust Uptake through 2023, Predicts IQ4I Research & Consultancy in Its New Report Available at MarketPublishers.com29 Jun 2017 • by Natalie Aster
LONDON – The worldwide biochips market is forecast to see robust growth in the years ahead, registering a high double-digit CAGR between 2017 and 2023. The value of this market will likely surpass USD 17.85 billion by the year 2023. The key drivers of the biochips market growth include rapid drug discovery, surging genomics and proteomics, uptake in diagnosis and therapeutics of genetic diseases and cancer, introduction of new technologies in biochips and adoption of personalized medicines. Meantime, such factors as some social and ethical issues, high costs, standardization and quality assurance of biochips, and also technological ease in handling the biochips perform as the key market growth hinders.
On the basis of products, the reagents and consumables sector captures the biggest share of the overall market in the past year; this sector is predicted to enjoy considerable CAGR through 2023.
Diagnostics is the largest application segment for biochips, that is anticipated to increase at double-digit CAGR during 2017-2023.
Regionally, North America captured the major share of the global biochips market in the previous year, followed by Europe. Country-wide, the US is the unrivalled global leader in the biochips market.
The new in-demand research report “Biochips (Microarrays/Microfluidics) Global Market – Forecast To 2023” worked out by IQ4I Research & Consultancy gives in-depth insights into the global biochips market landscape and describes the actual market scenario across the major geographies. This report includes updated statistics, examines the key growth limiters and drivers, discusses the top trends and covers the competitive landscape. Besides, the report contains a detailed analysis of the market segmentation, identifies the leading companies and also provides an all-round future outlook through 2023.
Other topical research reports created by this publisher are provided in the IQ4I Research & Consultancy catalogue at MarketPublishers.com.