GMI Global Biochips Market 2017 – Insights, Opportunit

Biochips Market Size is Projected to Witness
Significant Growth from 2017 to 2024. and Forecast,
2017 – 2024: Global Market Insights Inc.
The Biochips Market are also used in detection of bacterial and viral agents that are
causative agents for smallpox, anthrax and plague. In addition, the detection of
malignant cells in body is possible and this aids in diagnosis and treatment of cancer.
Wide-ranging applications in the fields of proteomics, genomics, genotyping, and drug
discovery coupled with rising adoption of the personalized medicines are the major
factors driving the biochips market growth over the forecast period.
The technological developments such as, minimally invasive techniques for installation
of biochips into patient’s body generates high adoption in numerous medical
organizations. These microprocessor chips have increased diagnostic methods as well
as lowered expenses thereby, boosting the demand. Moreover, requirement of
miniaturizing clinical and biological tests that are used in diagnosis and research are
determinants of increasing demand for bio-array techniques and biochips market.
Increasing prevalence of cancer will surge the demand in future. As per WHO
prediction, deaths due to cancer will escalate up to 13 million by 2030. The technology
of biochip is extremely helpful in cancer drugs development. In addition, the research
conducted and some ongoing research studies along with appropriate funding provided
by private and government organizations is propelling business growth. For instance, in
2012, the Institute of Bioengineering and Nanotechnology of Singapore developed
miniaturized biochip to help in detection of resistant drug for cancerous cells.
The high cost of biochips and the requirement of robotic tools for scanning as well as
handling micro scale sample may restrain the biochips market growth over the coming
years. Additionally, the requirement of bioinformatics tools for data analysis thereby,
the application of this technology is extremely expensive that will hamper the business
growth.
The DNA chips segment accounted for major share in the biochips market owing to its
wide-ranging applications in fields such as, drug discovery, gene expression, genomic
studies, cancer treatment and diagnosis. Moreover, the high demand for analysis and
recognition of genomic disorders are the factors fueling business growth.
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