Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Biochips are miniaturized laboratories used to conduct several simultaneous biochemical reactions. A biochip comprises mainly three types: DNA microarray, protein microarray, and microfluidic chip. Biochips are used to detect and quantify molecular complexes.

Statistics:

The U.S. biochip products and services market is estimated to account for US$ 11,151.8 Mn in terms of value by the end of 2027.

U.S. Biochip Products and Services Market: Drivers

Increasing development of drugs is expected to propel growth of the U.S. biochip products and services market over the forecast period. For instance, , according to Pharmaceutical Research and Manufacturers of America, over 750 orphan drugs were approved in the U.S. in 2018, compared to over 600 in 2017.

Moreover, increasing number of clinical trials is also expected to aid in growth of the market. For instance, according to the U.S. National Library of Medicine, the number of clinical trials conducted in the U.S. increased from 30,978 in 2018 to 32,523 in 2019.

Statistics:

Products segment held dominant position in the U.S. biochip products and services market in 2019, accounting for 67.7% share in terms of value.

Figure 1. U.S. Biochip Products and Services Market Share (%) Value, by Type, 2019

U.S. Biochip Product & Services  | Coherent Market Insights

U.S. Biochip Products and Services Market: Restraints

Low commercial acceptability of biochips due to their high cost is expected to hinder growth of the market. The manufacturing process of biochip requires specialized techniques of surface chemistry. The process also requires highly sophisticated devices such as integrated electronic devices and micromechanical devices. These devices are expensive, in terms of both purchasing as well as handling cost. For example, the retail price of a single human biochip costs around US$ 400 to US$ 500.

Moreover, side effects related to biochip implants are not covered by medical insurance in the U.S., which is also expected to limit growth of the market.

Report Coverage Details
Base Year: 2019 Market Size in 2019: US$ 5,161.8 Mn
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 10.1% 2027 Value Projection: US$ 11,151.8 Mn
Geographies covered:
  • North America: U.S.
Segments covered:
  • By Type
    • Products: Microarrays, Reagents & other Consumables, Others.
    • Services
  • By Application: Drug Discovery, Life Science Research, IVD Tests, Others
Companies covered (9):

Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.

Growth Drivers:
  • Increasing prevalence of chronic disorders
  • Approval and launch of new products
Restraints & Challenges:
  • High Cost

U.S. Biochip Products and Services Market: Opportunities 

New applications of biochips are expected to offer lucrative growth opportunities for players in the U.S. biochip products and services market. Biochips can be used to array protein substrates, used to track the interactions and activities of proteins and to determine their functions. The process is highly useful in diagnostic tests and drug lead screening.

Moreover, increasing prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.

Statistics:

The U.S. biochip products and services market was valued at US$ 5,161.8 Mn in 2019 and is forecast to reach a value of US$ 11,151.8 Mn by 2027 at a CAGR of 10.1% between 2020 and 2027.

Figure 2: U.S. Biochip Products and Services Market Value (US$ Bn), 2016 – 2027

U.S. Biochip Product & Services  | Coherent Market Insights

Market Trends/Key Takeaways

Major players in the market are focused on development of fast, reliable COVID-19 test. For instance, in February 2020, Surfix B.V. partnered with Qurin Diagnostics B.V. and LioniX International B.V. for development of COVID-19 diagnosis and immunity detection test in collaboration with PhotonDelta.

Biochip products can find application in allergy diagnostics. For instance, in April 2020, researchers from Technical University of Munich reported use of Immuno Solid?phase Allergen Chip (ISAC) for nasal fluid as a noninvasive sampling method as allergy screening test.

U.S. Biochip Products and Services Market: Competitive Landscape

Major players operating in the U.S. biochip products and services market include, Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.

U.S. Biochip Products and Services Market: Key Developments

Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in March 2020, MGI Tech Co., Ltd partnered with SkyWater Technology, a DMEA-accredited Category 1A Trusted Foundry, under which the later will provide critical components used by MGI’s DNA sequencing system DNBSEQ-T7.

Major players in the market are also focused on product launch to expand their product portfolio. For instance, in June 2019, AYOXXA Biosystems GmbH launched its next generation LUNARISTM Reader in two different models, LUNARISTM Reader 96 for up to 96 samples and LUNARISTM Reader 384 scalable for up to 384 samples.

Surgical Equipment are used for diagnosis of infectious diseases, respiratory diseases, cancer, and for personalized treatment. There are three types of biochips namely DNA microarray, protein microarray, and microfluidic chip. Increasing number of clinical trials along with technological advancements are expected to aid in growth of the market. Furthermore, increasing product approvals and increasing incidence of chronic diseases is also expected to assist the growth of the market during the forecasted period.

Key features of the study:

  • This report provides in-depth analysis of the U.S. Biochip Products and Services market  and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategy adopted by key players
  • It profiles key players in the U.S. Biochip Products and Services market  based on the following parameters – company overview, financial performance, product portfolio, market presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include, Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, technology up-gradation, market expansion, and marketing tactics
  • The U.S. Biochip Products and Services market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the U.S. Biochip Products and Services market

Detailed Segmentation:

  • U.S. Biochip Products and Services Market, By Type:
    • Products
      • Microarrays
      • Reagents & other Consumables
      • Others
    • Services
  • U.S. Biochip Products and Services Market, By Application:
    • Drug Discovery
    • Life Science Research
    • IVD Tests
    • Others
  • Company Profiles
    • Abbott Laboratories *
      • Company Overview
      • Product Portfolio
      • Key Highlights
      • Financial Overview
      • Strategies
    • Agilent Technologies
    • Affymetrix Inc.
    • Beckman Coulter, Inc.
    • Illumina Incorporated
    • Life Technologies Corporation
    • Randox Laboratories Ltd.
    • Surfix B.V
    • AYOXXA Biosystems GmbH
  •  “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Application
      • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Highlights
    • Product launch
    • PEST Analysis
    • Technological Advancements
    • Regulatory Scenario
    • Mergers and Acquisitions
  4. U.S. Biochip Products and Services Market, By Type, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Microarrays
        • Reagents & other Consumables
        • Others
    • Services
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  5. U.S. Biochip Products and Services Market, By Application, 2019 – 2027, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2020 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017 – 2027
      • Segment Trends
    • Drug Discovery
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
        • Microarrays
        • Reagents & other Consumables
        • Others
    • Life Science Research
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • IVD Tests
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. Competitive Landscape
    • Company Profiles
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Agilent Technologies
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Affymetrix Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Beckman Coulter, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Illumina Incorporated
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Life Technologies Corporation
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Randox Laboratories Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Surfix B.V
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • AYOXXA Biosystems GmbH
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  7. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 12 market data tables and 10 figures on “Biochip Products and Services Market – U.S. forecast to 2027”.

Frequently Asked Questions

The U.S. Biochip Products and Services market size was valued at US$ 5,161.8 million in 2019 and is estimated to exhibit a CAGR of 10.1% between 2020 and 2027.
Products segment held the major market share in 2019 owing to an increasing technological advancement in product design is expected to propel growth of the market.
Major factor driving the growth of U.S. Biochip Products and Services market during the forecast period increasing prevalence of chronic disorders, increasing research & development, and adoption of expansion strategies from major companies.
Major factors hampering the growth of the U.S. Biochip Products and Services market during the forecast period constitutes of high cost of biochip products.
Drug Discovery market is expected to generate the highest revenue during the forecast period.
Some of the key players operating in the market are Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.
Existing Clientele

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients

Our Trusted Patner