Global Biochips Market to Reach US$3.7 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on the Biochips market. The global market for biochips is projected to reach US$3.7 billion by the year 2015, driven by expanding application in the fields of life science research, drug discovery, clinical and forensic testing, and life science research.

Biochips: A Global Strategic Business Report

Biochips, though developed initially for use in genome analysis, are now playing a critical role in gene identification in human DNA. In addition to the increasing usage in protein, diagnostics, toxicological, and biochemical research applications, biochips also enable rapid detection of chemical agents in chemical and biological warfare. The global financial crisis presented enormous challenges for the biochip industry, as biotech firms found it difficult to attract funding thereby affecting the development and commercial availability of new products. The US has been one of the worst affected markets in the biotech industry, while the cautious approach of investors is hampering prospects in developing biotech markets. The impact of credit crunch has been particularly severe on smaller companies, which need enormous cash inputs for sustaining expensive drug research operations but suffer due to lack of sales. Despite the adversities, biochips hold enormous promise in areas such as homeland security, environmental monitoring, and public health. Some of the potential applications for biochips include rapid diagnosis of various infectious diseases, instantaneous classification of biological warfare agents, and faster identification of crime suspects.

The United States and Europe cumulatively accounts for a lion’s share of the global market, as stated by the new market research report on Biochips. The biochip products and services market in the US is anticipated to grow steadily, led by increased usage in epidemiological research and drug discovery activities. In particular, protein characterization and analysis is expected to offer the fastest growth opportunity among all technologies. Biochips are expected to gain prominence for use in specific applications such as nucleic acid biomarkers in the field of in vitro diagnostics testing, owing to significant improvements in speed and accuracy. However, cost disadvantages are likely to prevent greater use of biochips in other applications.

DNA chips segment dominates the biochip market, although the segment has been witnessing sluggish growth due to the maturity of gene expression market. Nevertheless, the emergence of new applications, such as SNP genotyping, is likely to accelerate growth for the DNA chips market. The United States represents the single largest market for DNA chips. Protein chips segment is set for robust growth driven by the anticipated rise in demand from proteomics and gene expression profiling applications. Rapid advancements in genomics technology have led to enhanced emphasis on analysis of specific actions pertinent to gene-coded proteins and genes, a significant transformation from the earlier focus on deciphering genetic code sequences. Academic laboratories and pharmaceutical companies are likely to remain the major markets for biochip products and services. Europe represents the largest global market for protein chips.

Biochips industry is presently experiencing a shift away from R&D tools towards applied applications in the fields of clinical diagnostics, advanced sequencing, and drug discovery and development. Such a shift is led by the enormous efforts in associating genetic variations with susceptibility and progression of diseases. The industry focus has also shifted towards miniaturization as well as integration of biochip devices, which are aimed at reducing biochip cost, authenticating usage for clinical diagnostics, and enhancing their portability.

Biochips industry is a highly competitive market involving the presence of both large and small market participants. Major players profiled in the report include Affymetrix Inc, Biomerieux SA, Bio-Rad Laboratories Inc., Caliper Life Sciences Inc., Cepheid Inc., GE Healthcare Ltd., Life Technologies Corporation, Takara Bio Inc., and Zyomyx, Inc.

The research report titled “Biochips: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a strategic review of the biochips industry, key market trends, recent product launches, strategic corporate initiatives, and profiles of key market participants. The report provides annual sales estimates and projections for the years 2007 through 2015, and 2000 to 2006 by the following geographic markets - US, Canada, Japan, Europe, and Rest of World. Key segments analyzed include DNA Chips, Protein Chips, and Lab Chips.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Biochips_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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