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North America Lab-on-a-chip and Microarrays (Biochip) Market - Growth, Trends, and Forecast (2019 - 2024)

North America Lab-on-a-chip and Microarrays (Biochip) Market - Growth, Trends, and Forecast (2019 - 2024)

  • September 2019
  • 102 pages
  • ID: 5821497
  • Format: PDF
  • By Mordor Intelligence LLP

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Market Overview
The North America lab-on-a-chip and microarrays (biochip) market is expected to register a healthy CAGR during the forecast period. increasing application of proteomics and genomics in cancer research, growth of personalized medicine, favorable regulatory approval for personalized medicine, increased commercial application of biochips are the major factors that are driving the North America lab-on-a-chip and microarrays (biochip) market. However, lack of standardization, low commercial acceptability due to the high-costs, and availability of alternative technologies are likely to hinder the growth of North America lab-on-a-chip and microarrays (biochip) market

Scope of the Report
A biochip is a collection of miniaturized test sites (microarrays) arranged on a solid substrate that permits many tests to be performed at the same time, to achieve higher throughput and speed. Typically, a biochip’s surface area is no larger than a fingernail. Like a computer chip, that can perform millions of mathematical operations in one-second, a biochip can perform thousands of biological reactions, such as decoding genes, in a few seconds.

Key Market Trends
Microarray is Anticipated to Hold Significant Share in the Studied Market

Microarray is a lab-oriented microscope slide that is usually made of glass, silicon chip, or nylon membrane. It is a two-dimensional array of reagents, genes, or specimen placed in defined positions on the surface of a chip provided with thousands of minute pores. It is a laboratory tool used to detect the expression of thousands of genes at the same time. Microarrays are the most popular form of Lab-on-a-Chip technology, due to the wide range of differentiation and low price of the equipment. Increasing use of personal medical devices and the need for immediate results from diagnostic tests are the greatest factors driving the demand for microarrays in the lab-on-a-chip market. But with the use of microarrays and other lab-on-chip solutions, many pre-analytical and post-analytical errors could be eliminated, as lab-on-chip provides highly portable and modular solutions that could be handled easily and provide instant results, leading to faster diagnosis for the patients and higher throughputs to the lab owners. With further enhancements in the microarray technology and increasing awareness of lab-on-chip solutions in developing countries, the market is expected to witness considerable growth over the forecast period.

Competitive Landscape
The North America Lab-on-a-chip and Microarrays (Biochip) market, which is highly competitive, consists of a few major players. In terms of market share, few of the major players currently dominate the market. Companies, such as Abbott Laboratories Bio-Rad Laboratories, GE Healthcare, Roche Holding AG among others, hold a substantial market share in the Lab-on-a-chip and Microarrays (Biochip) market.

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