Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global biochips market was valued at US$ 7.87 billion in 2021 and is expected to register a revenue CAGR of 11.4% and reach US$ 20.79 billion by 2030.

Biochips Market Fundamentals

Biochips (miniaturized laboratories) are specially designed and developed microchips capable of hosting a large number of simultaneous biochemical reactions. Biochips can screen a variety of biological analytes for various applications. A chip comprises different probes, such as DNA, RNAi, and protein fragments. The probes bind with the targets present in the sample via a hybridization reaction. Results are obtained using a biochip scanner and a subordinate microarray image analysis software.

A biochip consists of two significant components: a passive transponder and a reader. Some of the major types of biochips include DNA microarray, microfluidic chip, and protein microarray. DNA microarray has a large number of tiny DNA spots that hybridize to the labeled targets. Microfluidic chips are used for many reactions, such as DNA analysis, molecular biology procedures, and many other biochemical reactions. Affymetrix (now Applied Biosystems), a brand of DNA microarray products, invented the first biochip (called Genechip).

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Biochips Market Dynamics

The increasing prevalence of immunological disorders, oncological conditions, allergies, and infectious diseases is driving the revenue growth of the global biochips market. Additionally, the biochips market is boosted due to the rise in the geriatric population and high demand for personalized medications.

Biochips are an effective way of recording personal and medical data, which makes them an important tool for diagnostics, research, and medicine development. Furthermore, nanotechnology has facilitated reducing the chip size and increasing its usefulness in the field of genomics and proteomics. For instance, a Dutch company called Qurin Tests uses a nanotechnology-based platform for diagnosing, tracking, and treating cancer and other diseases. An American firm, Nutcracker Therapeutics, raised US$ 167 million in March 2022 for the evolution of their mRNA biochip manufacturing technology. In April 2021, Toray Industries developed a biochip that can detect multiple allergen-specific Nidus Biosciences using their Gas Expansion Molding (GEM) technology. It created microbubble arrays that are used for high-throughput screening of human primary B-cells for research and specifically for antibody drug discovery. Allergy-testing biochip technology is expanding significantly and is expected to be a key contributor to the revenue growth of the market.

The COVID-19 pandemic had a positive impact on the global biochips market, as they had maximum relevance with the diagnosis of the disease. Biochips during this period played a major role for healthcare providers, researchers, and the population for early disease identification. Biochips played an important role in assessing patient response, such as antibody response, which aided researchers while developing new vaccines.

However, the high cost and lack of awareness are the major restraining factors for the revenue growth of the biochips market. Additionally, the scarcity of knowledge among emerging players about drug development and personalized medicines is further limiting the revenue growth in the biochip industry.

Biochips Market Ecosystem

The global biochips market has been analyzed on three parameters: type, end user, and region.

Biochips Market by Type

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Based on the type, the global biochips market is segmented into DNA chips, protein chips, lab-on-chip, tissue arrays, cell arrays, and others.

The DNA biochips segment accounts for the highest revenue share of the market. These biochips offer high throughput, and their usage is mainly found in cancer diagnosis and treatment. According to the American Cancer Society, 21.7 million new cancer cases and 13 million cancer deaths are expected by 2030. Growing market acceptance of biochips for cancer treatment encourages companies to introduce new technologies. Changwei System Technology Co., Ltd, a life science company, for instance, started developing biochips for Cancer Differentiation Technology (CDA) and In-Vitro Diagnostics (IVD) applications in March 2022. 

The lab-on-chip segment is the other fastest-growing market due to several factors, such as the requirement for low-volume reagents, high expandability, cost-effectiveness, and high sensitivity. Additionally, lab-on-a-chip systems are excellent tools in the fields such as artificial disease models and toxicity studies, as well as for cell research. Infectious disease diagnosis, portable disease diagnosis systems, and analyte detection are a few other major applications of lab-on-chip systems.

Tracking protein activities and interactions is carried out using a protein microarray. The protein chips segment is estimated to grow moderately during the forecast period due to growing consumer awareness of personalized medicines across developed and developing countries.

Biochips Market by End User

Based on the end user, the global biochips market is segmented into biotechnology & pharmaceutical companies, hospitals & diagnostic centers, and academic & research institutes.

The biotechnology and pharmaceutical segment accounted for over 45% of the revenue share of the market in 2021. The companies in this sector are indulging in several R&D projects for biochip integration into varied health applications. Moreover, due to threats, such as bio-warfare and bioterrorism, the adoption of biochips is increasing in pharmaceutical companies.

The hospitals & diagnostic centers segment also accounted for a considerable market revenue share in 2021. This market is driven primarily by increased government funding and technological advancements. Biochips have been rapidly adopted in hospitals and diagnostic centers for patient monitoring and diagnosis purposes. In October 2020, computer scientists, electrical engineers, and biomedical engineers at the University of California, Irvine, developed a lab-on-a-chip that can help to research tumor heterogeneity and minimize resistance to cancer therapies. In May 2021, TU Wien, which is a leading university in Austria, developed a biochip that could be used to produce tissue beads in the desired size and supply them with drugs or nutrients.

Biochips Market by Region 

Based on the region, the biochips market is segmented into North America, Europe, Asia Pacific, and the rest of the world.

North America accounted for the largest revenue share of revenue in 2021, due to the increased prevalence of cardiac and chronic diseases. Specifically, in the U.S., the high incidence of diseases, such as diabetes and cancer, drives the region’s need for clinical diagnosis and research, which is fulfilled by the presence of advanced healthcare systems in the region.

The market in Asia Pacific is expected to grow at a faster revenue CAGR during the forecast period. China and India are likely to primarily fuel this region’s revenue growth. The key determinants of regional industry revenue growth include increased accessibility to technologies, large patient pool, and improvements in the regional healthcare infrastructure. The increasing adoption of biochip technology by prominent players in order to reduce overall production costs is also a significant factor driving the region’s revenue growth.

The Europe biochips market is anticipated to grow steadily over the forecast period due to increased adoption of biochips in genomics and proteomics in the U.K. and Germany.

Biochips Market Competitive Landscape

The prominent companies operating in the biochips market are: 

• Agilent Technologies, Inc.
• PerkinElmer, Inc.
• Illumina, Inc.
• Abbott Laboratories
• Fluidigm Corporation
• GE Healthcare
• Bio-Rad Laboratories, Inc.
• Thermo Fisher Scientific, Inc.
• LI-COR, Inc.
• Molecular Devices, LLC. 

Biochips Market Strategic Developments

• In March 2020, Agilent Technologies introduced three new microarrays to meet the requirements of cytogenetic labs for conducting prenatal and postnatal research
• In January 2022, Veredus Laboratories, a Singapore-based molecular diagnostics manufacturer, announced the commercial availability of its portable lab-on-chip diagnostic tool for the detection and differentiation of 2019-nCoV, SARS-CoV, and MERS-CoV
• In April 2021, PathogenDx Inc. was granted Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration (FDA) for its patented DetectX-Rv COVID-19 multiplex viral diagnostic test. DetectX-Rv is an RT-PCR and DNA microarray hybridization test for the qualitative detection of nucleic acids from SARS-CoV-2 swabs.
• In January 2022, a team of professionals from the Universidad Carlos III de Madrid (UC3M), the Universidad Politécnica de Madrid (UPM), and other institutions designed an advanced biochip that simplifies the manufacturing process of in vitro skin in labs
• In July 2022, the University of Massachusetts Amherst conducted a study in which molecules were isolated and detected simultaneously in the same location in the microdevice. The graphene used in this study was for electrokinetic bio-sample processing. This advancement was expected to allow lab-on-chips to become smaller and faster than before.
• In February 2022, Onera Health introduced the Onera Biomedical-Lab-on-Chip, an ultra-low-power biosignal sensor subsystem for wearable gadgets. This biomedical compact chip can process numerous biosignals, which opens a huge market for medical equipment.

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