DUBLIN, Oct. 24, 2022 /PRNewswire/ — The “Biochips – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
Global Biochips Market to Reach $25.4 Billion by 2026
Amid the COVID-19 crisis, the global market for Biochips estimated at US$15.9 Billion in the year 2022, is projected to reach a revised size of US$25.4 Billion by 2026, growing at a CAGR of 11.7% over the analysis period.
Biochip represents a solid substrate on which miniaturized test sites or microarrays are arranged. Biochip microarray technology is a testing platform where several experiments are performed at the same time to achieve rapid results and high throughput. Biochips (for example, lab-on-a-chip) thus serve as a mini laboratory where multiple analytes from a single sample are tested simultaneously.
DNA Chip, one of the segments analyzed in the report, is projected to grow at a 10.6% CAGR to reach US$9.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Lab-On-a-chip segment is readjusted to a revised 12.3% CAGR for the next 7-year period. This segment currently accounts for a 30.6% share of the global Biochips market.
The U.S. Market is Estimated at $6.3 Billion in 2022, While China is Forecast to Reach $2.4 Billion by 2026
The Biochips market in the U.S. is estimated at US$6.3 Billion in the year 2022. The country currently…
