Biochips Market size is projected to surpass USD 35 Billion by the end of 2035, witnessing around 14% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of biochips was USD 8 BillionThe growth of the market can be attributed to the increasing occurrence of immunodeficiency disorders among people throughout the world. For instance, more than 7 million persons worldwide were suffering from primary immunodeficiencies by 2021, with around 75 to 93% remaining untreated. Further, there are around 430 different primary immunodeficiencies or primary immunodeficiency disorders (PIDs) that have been discovered to date. Further, the rapidly rising adoption of biochips in various research fields, such as genomics, drug discovery, proteomics, and so on is also estimated to fuel the market growth of the global biochips market throughout the forecast period.
In addition to these, factors that are believed to fuel the market growth of biochips include the rise in the need to develop novel vaccines through extensive medical research, backed by amplified funding in medical R&D activities across the globe. For instance, in 2019, the pharmaceutical industry in the United States invested more than USD 85 billion in research and development activities. These costs covered a wide range of operations, including medication research and testing, incremental enhancements including product expansions, and medical studies for safety monitoring. Additionally, increasing advances in the Lab-on-a-chip offerings along with the biomedical progression for microfluidic-based devices are also predicted to present the potential for market expansion over the projected period.
Growth Drivers
Worldwide Growing Prevalence of Cancer – Cancer occurs when some of the body's cells grow out of control and spread to other bodily areas. Cancer can develop practically anywhere in the body, which contains trillions of cells. When this regulated mechanism fails, aberrant or defective cells expand and reproduce when they should not. These cells can conjoin to generate tumors, which are tissue masses. Tumors may or may not be cancerous. Cancer is one of the greatest causes of death globally. But, now the survival ratio of various kinds of cancer patients has been improving owing to the advancement and surging development in cancer prevention and treatment. Hence, the upsurge in cancer cases is estimated to spur the growth of the market throughout the forecast period. As per the statistics of the World Health Organization, cancer is the second leading cause of death throughout the world. In addition, it was responsible for about one out of every six deaths which denotes around 10 million deaths in 2020 across the globe.
Rising Proportion of Communicable Disorders - Communicable diseases, often known as infectious diseases, are disorders caused by the infection, existence, and proliferation of pathogenic biologic agents in a single human or other infected animals. Infections can be severe to fatal, hence the increasing proportion of communicable disorders is anticipated to propel the market growth. For instance, the number of visits to medical offices in the United States for infectious and parasitic diseases soared to over 10 million in 2019.
Worldwide Increasing Health Spending – According to the most recent expenditure data, worldwide health spending has flourished over the former 20 years, doubling in real terms to an extent of USD 8.5 trillion in 2019 and 9.8% of GDP, up from 8.5 percent in 2000. It is predicted that this surge would persist over the forecast period.
An Upsurge in the Development and Approval of Novel Drugs – The requirement for novel drug development has been soaring in the past two decades. This growth is owing to the proliferating deployment of novel drug delivery systems throughout the world, which is further fueling the approval of these drugs. For instance, by 2022, the clinical drug development success rate has risen by nearly 12% to 16%. Moreover, in the United States, a record of around 60 novel drugs was authorized in 2018, thus, the total number of novel drugs approved for sale expanded by 62% between 2010 and 2019 in comparison to the previous decade.
Rise in the Development of Novel Lab-on-a-Chip Kit - A lab-on-a-chip is a compact device that combines one or more laboratory-based studies, such as DNA sequencing or biochemical detection, on a single chip. Medical diagnostics, DNA analysis, and other applications are the key points of lab-on-a-chip research and development. Thus, the surging development of novel lab-on-a-chip (LOC) kits is also projected to spur market growth in the coming years. For instance, the University of California, Irvine's electrical engineers, and biomedical engineers have developed a novel lab-on-a-chip that can assist in the research of tumor heterogeneity in terms of lowering resistance to cancer therapies.
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~14% |
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Base Year Market Size (2022) |
~ USD 8 Billion |
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Forecast Year Market Size (2035) |
~ USD 35 Billion |
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Regional Scope |
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Type (DNA Chips, Protein Chips, Lab-on-a-Chip)
The global biochips market is segmented and analyzed for demand and supply by type into DNA chips, protein chips, Lab-on-a-Chip, and others. Out of these four segments, the DNA chips segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to the increasing use of DNA chips in several clinical diagnostic tests and research work regarding the detection of numerous disorders., coupled with the significant rise in the development of DNA chips in recent years. For instance, in 2021, Roswell Biotechnologies Inc., invented the molecular microchip that can detect an individual's molecule. The technology is expected to revolutionize disease detection, drug development, and health monitoring procedures to great extent. The chip is going to be utilized to improve DNA sequencing. In addition to this, the surge in various types of cancer cases throughout the world is another major factor that is anticipated to accelerate the segment growth as DNA chips are highly useful, and deliver more precise results in the detection of cancer, as well as these chips deliver highly efficient treatment assistance for cancer.
End-user (Pharmaceuticals, Hospitals & Diagnostic Centers, Academic Research Institutes)
The global biochips market is also segmented and analyzed for demand and supply by end-user into pharmaceuticals, hospitals & diagnostic centers, academic research institutes, and others. Amongst these segments, the hospitals and diagnostic center segment is expected to garner a significant share. The growth of the segment can be accredited to the increasing need for advanced medical facilities, diagnosis technologies, and a growing patient pool. On the other hand, the pharmaceutical segment is projected to witness an impressive CAGR during the forecast period, owing to the higher indulgence of pharmaceutical companies in the research and development of biochips and their integration. In addition to this, these pharmaceutical organizations have also been exploring new heights with the deployment of biochips in the process of novel drug discovery, research, and development of novel biomarkers, and gene expression profiling. As a result, this factor is also estimated to create numerous opportunities for the growth of the segment in the coming years.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Function |
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By Fabrication Technology |
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By Application |
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By End-User |
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North American Market Forecast
The North American biochips market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the increasing frequency of cancer amongst several people, followed by the rising burden of numerous types of chronic disorders in the region. For instance, in 2022, 6 out of 10 adults in the United States had a chronic disease, while 4 out of 10 adults had two or more chronic disorders. Further, the growing adoption and availability of precision medicine is another major factor that is estimated to radically drive the market growth. For instance, based on a report’s figures, in the United States, the available number of personalized medicines in the market has increased from 135 in 2016 to 289 by 2020. Moreover, an efficient public health care system and the availability of advanced technologies which promote the application of biochips for the discovery of new drugs are some more factors that are projected to boost market growth further throughout the forecast period in the region. In addition to this, high funding for R&D activities in the healthcare sector is projected to contribute to market growth in the region.
APAC Market Statistics
The Asia Pacific biochips market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the expanding access to advanced technologies in healthcare, followed by the surging patient pool which requires the early detection of disorders. Moreover, increasing investments in the R&D of medical technologies is another significant factor that is anticipated to propel the growth of the market in the APAC region.
Bio-Rad Laboratories, Inc. announced a collaboration with Element Biosciences, Inc. to demonstrate the Bio-Rad SEQuoia RNA Sequencing Library Preparation portfolio with the Element AVITI Benchtop Sequencer. Using the new Avidity Sequencing chemistry on the Element AVITI Sequencing Platform, Bio-Rad's SEQuoia RNA Complete Stranded RNA Library Prep Kit and SEQuoia Express Stranded RNA Library Prep Kit are estimated to be easily used to achieve high RNA sequencing accuracy and repeatability across different samples and inputs.
Merck KGaA announced the partnership with Artios Pharma to jointly develop multiple precision oncology drugs over the next three years as part of a global research collaboration. By leveraging Artios' proprietary nuclease targeting discovery platform, the companies are projected to jointly identify multiple synthetic lethal targets for precision cancer drug candidates.
Author Credits: Radhika Gupta, Shivam Bhutani
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