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Biochips Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

NEW YORK, May 4, 2016 /PRNewswire/ -- This market research study analyzes the biochips market on global basis and provides estimates in terms of revenue (USD million) from 2014 to 2023. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the significant opportunities for market growth in the next eight years.

Biochips are a collection of microarrays which are arranged on a solid substrate that enables numerous biochemical reactions such as decoding of genes in a few seconds. In addition, biochips are designed to function in biological environments and are capable of detecting and measuring a large number of biomarkers and perform complex biochemical reactions simultaneously in a very short span of time. There have been considerable advancements in the biotechnology industry on account of the increasing application of biochips. In addition, biochips are largely used for research in drug discovery and development, genomics, proteomics, and molecular diagnostics. Biochips help in analyzing organic molecules related to living organisms. Therefore, they help in detecting gene sequences, environmental pollutants, airborne toxins, and other biochemical constituents.

Increasing application of biochips in the medical sector for cancer treatment, drug research, and diagnostics is one of the major factors driving the growth of the global biochips market. In addition, factors such as availability of molecular information, automation of biochemical processes through the use of biochips and application of biochips for gene and protein...