Biochip Market Size to Hit Around USD 40.49 Billion By 2033

According to Nova One Advisor, the global biochip market size was estimated at USD 12.28 billion in 2023 and is projected to hit around USD 40.49 billion by 2033, growing at a CAGR of 12.67% during the forecast period from 2024 to 2033.

The biochip market is a dynamic sector within the broader field of biotechnology. Biochips are miniaturized devices that can perform multiple biochemical reactions simultaneously, allowing for high-throughput analysis of biological samples. These chips are used in various applications, including genomics, proteomics, drug discovery, and diagnostics. One significant driver of the biochip market is the increasing demand for personalized medicine and targeted therapies. Biochips enable researchers and clinicians to analyze patient samples quickly and accurately, aiding in the development of tailored treatment plans.

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Key Takeaways:

• North America dominated the global biochip market in 2023 and accounted for the largest share of more than 50% of the overall revenue.
• The Asia Pacific region is estimated to register the fastest growth rate during the projected period.
• The DNA chips segment dominated the global industry in 2023 and accounted for the highest share of more than 36.10% of the overall revenue.
• The Lab-On-chips (LOC), on the other hand, is expected to register the fastest CAGR during the projected period.
• The biotechnology and pharmaceutical companies segment accounted for the highest revenue share of more than 57% in 2023.
• Whereas the academic & research institutes’ end-use segment is projected to register the highest growth rate from 2024 to 2033.

Biochip Market Growth Factors

Biochip is becoming a hotspot segment for emerging players to mature. This is attributed to the rising drug development, increasing adoption of personalized medicines, as well as next-generation sequencing (NGS). Innovation in the Lab-on-a-chip offerings along with the biomedical advancement for microfluidic-based devices is expected to contribute to the global market growth. Lab-on-a-chip devices are expected to deliver rapid results at the initial diagnosis of infectious diseases. The technology is widely utilized in epidemiological studies.

The health crisis of the COVID-19 pandemic impacted the supply chain of the biochip and resulted in a mismatch of supply and demand levels. The product demand increased with support from academic institutions and biopharma companies. For instance, in January 2022, a group of researchers from The Czech Academy of Sciences (the CAS) developed a system with a biochip to detect the COVID-19 virus. According to the researchers, a biochip is as rapid as an antigen test and as accurate as PCR testing. The combination of biochip technology with various applications is projected to boost biochip market growth.

For instance, in March 2022, a U.S.-based startup, Nutcracker raised funds worth USD 167 million via series C to enhance the RNA manufacturing platform based on a biochip. The biochip-based platform is expected to support the advancement of RNA-based therapeutics. The biochip as well as nanoparticle delivery technology assist in establishing comprehensive isolated and automated manufacturing. In addition, the acceleration in the use of biochip applications including drug development, obligated several R&D institutions and R&D teams to design a cost-effective and efficient process. In 2021, more than 700 drugs were in-progress for targeting approximately 8,000 rare diseases.

Biochips are utilized for testing drugs before their clinical trials. In May 2022, Vienne University of Technology, TU Wien, innovated a biochip-based technology to manufacture tissue beads in precise sizes and commercialize them along with drugs through a thin channel. Moreover, the patent application for this technology has been submitted. However, the manufacturing cost of biochips can restrain the growth of the industry. The majority of microfluidic devices are made of ultraviolet lithography, an extremely complex and costly technique that requires trained professionals with specialized instruments.

The high cost of manufacturing creates high barriers for new players to enter the market and produce a wide range of alternatives for the end-users. The low level of awareness in the developing and under-developed regions about the utility of biochips is also a concerning factor for the global biochip market. Over a few years, the quantity of biochip-based research by research and academic institutes in developing countries has decreased. Limited knowledge among emerging companies in the drug development and personalized medicine sector is projected to limit global market growth.

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Types of BioChips

There are three types of Biochips available namely DNA microarray, microfluidic chip, and protein microarray.

• DNA Microarray

A DNA microarray or DNA biochip is a set of tiny DNA spots fixed to a strong surface. A researcher utilizes to calculate the expression levels for a large number of genes. Every DNA mark comprises picomoles of particular genes which are termed as probes. These can be a short segment of a genetic material under high rigidity situations. Usually, probe-target hybridization is noticed and counted by recognition of fluorophore or chemiluminescence labeled targets to decide the relative quantity of nucleic acid series in the target. Innovative arrays of nucleic acid were macro arrays about 9 cm X 12 cm and the initially automated icon based analysis was published in the year 1981.

• Microfluidic Chip

Microfluidic biochips or lab-on-a-chip are a choice to usual biochemical laboratories and are transforming several applications like DNA analysis, molecular biology procedures, proteomics which is known as the study of proteins and diagnostic of diseases (clinical pathology). These chips are becoming more complex by using 1000’s of components, but those components are designed physically called as bottom-up full-custom plan, which is a very large workforce.

• Protein Microarray

A protein microarray or protein chip method is used to follow the actions as well as connections of proteins, and to find out their function on a large scale. The main advantage of protein microarray is that we can track a large number of proteins in parallel. This protein chip comprises of a surface for supporting like microtitre plate or bead, nitrocellulose membrane, the glass slide. These are automated, rapid, economical, very sensitive, consumes less quantity of samples. The first methodology of protein chips was introduced in antibody microarrays of scientific publication in the year 1983. The technology behind this chip was quite easy to develop for DNA microarrays, which have turned into the most generally used microarrays.

Biochips of Applications

The applications of biochip include the following.

By using this chip we can trace a person or animal anywhere in the world.

• This chip is used to store and update the information of a person like medical financial and demographics.
• A biochip leads to safe E-commerce systems
• These chips are effective in restoring the records of medical, cash, passport, etc.
• The biochip can be applicable in the medical field as a BP sensor, glucose detector, and oxygen sensor.

From the above-discussed information finally, we can conclude that biochips are accurate, fast, and miniaturized. The biochip space lies at the intersection between chip manufacturing, molecule biology, genomics, and signal processing. The market for Biochips and its applications has been increased in a number of core research regions.

Biochip Market Top Trends

• Miniaturization and Integration: Biochip technologies continue to evolve towards smaller sizes and increased integration of functionalities. Miniaturization allows for higher throughput, reduced sample and reagent volumes, and lower costs per assay, making biochips more accessible for various applications.
• Point-of-Care Testing (POCT): There is a growing demand for biochips that enable rapid and decentralized diagnostic testing at the point of care. Portable biochip platforms offer the potential for real-time disease detection, monitoring, and treatment optimization, particularly in resource-limited settings and for infectious diseases.
• Personalized Medicine: With advancements in genomics and proteomics, there is an increasing emphasis on personalized medicine approaches. Biochips play a crucial role in analyzing patient samples to identify biomarkers, genetic variations, and molecular signatures that inform personalized treatment strategies tailored to individual patients.
• Multiplexing and High-Throughput Analysis: Biochips are increasingly capable of performing multiplexed assays, allowing simultaneous detection of multiple analytes in a single sample. High-throughput biochip platforms enable rapid screening of large sample cohorts, accelerating research in genomics, drug discovery, and biomarker identification.
• Emerging Applications in Single-Cell Analysis: Single-cell analysis is gaining prominence in understanding cellular heterogeneity and disease mechanisms at the individual cell level. Biochips with single-cell resolution capabilities facilitate the isolation, manipulation, and molecular profiling of individual cells, driving advances in fields such as cancer research, immunology, and stem cell biology.
• Bioinformatics Integration: The integration of bioinformatics tools and data analytics enhances the capabilities of biochip technologies. Advanced algorithms enable the interpretation of complex biological data generated by biochips, facilitating insights into disease mechanisms, biomarker discovery, and drug response prediction.
• Nanotechnology and Material Innovations: Nanotechnology enables the development of biochips with enhanced sensitivity, specificity, and multiplexing capabilities. Novel nanomaterials and surface chemistries improve biomolecule immobilization, interaction kinetics, and signal amplification, further enhancing the performance of biochip assays.

Type Insights

The DNA chips segment dominated the global industry in 2023 and accounted for the highest share of more than 36.10% of the overall revenue. They are majorly used in academic research and clinical diagnostic tests for numerous diseases. For instance, in November 2021, Roswell Biotechnologies, a San Diego biotech company, is developing a molecular microchip that can take the molecule of an individual and assess it. The technology is anticipated to change the techniques of disease detection, development of drugs, and monitoring of health. The company aims to use the chip to enhance DNA sequencing. In DNA chips, the cancer diagnosis and treatment segment held a significant share in 2022. Biochips are projected to replace traditional medical diagnostic tasks, including cancer detection.

They are inexpensive, rapid, and widely available, hence enabling advanced detection of cancer to occur in numerous localities. It also eases the adoption process of telemedicine in the market. Similarly, Singapore’s Institute of Bioengineering and Nanotechnology have designed a biochip that can detect drug-resistant cancer cells. The Lab-On-chips (LOC), on the other hand, is expected to register the fastest CAGR during the projected period. Since the usage of lab-on-chips in the area of medicine is increasing, it is expected to assist in early diagnostics, drug patents, and personalized medicine. Hence, factors, such as low costs and low sample volumes, are expected to extend the use of LOC technology in point-of-care diagnostics in emerging countries.

End-Use Insights

The biotechnology and pharmaceutical companies segment accounted for the highest revenue share of more than 57% in 2023. The companies are indulging in heavy R&D programs to integrate biochip technology in various health applications. Considering the competitiveness in the pharmaceutical market, the companies cannot afford to invest heavily in developing drugs that have the probability of failing FDA approval. However, biochips are anticipated to be a new pathway to the discovery and development of drugs. Biochips are employed to develop biomarkers in the process of drug discovery, primarily for Single Nucleotide Polymorphism (SNP) analysis and gene expression profiling.

Whereas the academic & research institutes’ end-use segment is projected to register the highest growth rate from 2024 to 2033. The institutions are conducting R&D on the technology and exploring various applications for biochips. For instance, in January 2022, a team of professionals from the Universidad Carlos III de Madrid (UC3M), the Universidad Politécnica de Madrid (UPM), along with other institutions, designed an advanced biochip that eases the manufacturing process of in vitro skin in the labs. The device is expected to be used in the testing of medicine and cosmetics.

Regional Insights

North America dominated the global biochip market in 2023 and accounted for the largest share of more than 50% of the overall revenue. The region is expected to maintain the industry position during the forecast period owing to the rising initiatives of the government for enhancing R&D through tax credits. The high existence of biotechnology companies along with academic and research institutions in the region is anticipated to boost further technology advancements in the applications of biochips. In the U.S., R&D tax credit is a budgetary benefit provided by the central government by offering companies dollar-for-dollar cash saving for carrying-out research activities to innovate, develop, or enhance products, processes, formulas, or software.

It is observed that a company can be offered a tax credit of around 12-16% for every dollar. The Asia Pacific region is estimated to register the fastest growth rate during the projected period. The fast-paced growth of this region will be mainly driven by China and India. The key determinants of industry growth in the region are enhancing the approachability to the technologies, a large patient pool, and improvement in healthcare infrastructure. The increasing adoption of biochip technology outsourcing to emerging markets by mature players to lower overall production costs is also a significant factor driving the region’s growth.

Key Companies & Market Share Insights

The key players in the biochip are undertaking various strategic initiatives to maintain their market presence. In addition, various strategic initiatives help market players to bolster their business avenues. For instance, in March 2023 Mekonos, Inc. a biotechnology company creating the future of cell-based therapeutics on a chip announced a collaboration with bit.bio to advance and leverage cell engineering. Some of the key players in the global biochip market include:

• Agilent Technologies, Inc.
• PerkinElmer Inc
• Illumina, Inc.
• Bio-Rad Laboratories, Inc.
• Standard BioTools
• GE HealthCare
• Thermo Fisher Scientific, Inc.
• LI-COR, Inc.
• QIAGEN
• Randox Laboratories Ltd

Segments Covered in the Report

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Biochip market.

By Type Scope

• DNA Chips
  • Cancer Diagnosis And Treatment
  • Gene Expression
  • SNP Genotyping
  • Genomics
  • Drug Discovery
  • Agricultural Biotechnology
  • Others
• Protein Chips
  • Proteomics
  • Expression Profiling
  • Diagnostics
  • HTS
  • Drug Discovery
  • Others
• Lab-on-chip
  • Genomics
  • IVD & POC
  • Proteomics
  • Drug discovery
  • Others
• Tissue Arrays
• Cell Arrays

By End-use

• Biotechnology and Pharmaceutical Companies
• Academic & Research Institutes
• Hospitals and Diagnostic Centers
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)

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