Biochip Market Size to Grow by $ 25.52 Billion through 2021-2025
Technavio research projects the biochip market to grow by $ 25.52 Billion, accelerating at a CAGR of almost 22.84% till 2025. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Biochip Market: Key Market Driver
One of the primary factors that will trigger the growth of the biochip market size is Increased popularity of personalized medicine. This research report provides a comprehensive analysis of all the factors that are likely to propel market growth, taking into account the market trends as well as challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.
North America has been recording a significant growth rate and is expected to offer several growth opportunities to market vendors during the forecast period. Rising use of biochips in safety detection of agriculture products has been identified as one of the chief factors that will drive the biochip market growth in North America over the forecast period.
Biochip Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Agilent Technologies Inc., BioChain Institute Inc., Bio-Rad Laboratories Inc., Danaher Corp., Dynamic Biosensors GmbH, Fluidigm Corp., Illumina Inc., PerkinElmer Inc., RayBiotech Life, and Thermo Fisher Scientific Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with a pipeline analysis of vendor operations and the impact of government regulations.
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