Published by Coherent Market Insights
Posted on September 15, 2021
Surgical Equipment are used for diagnosis of infectious diseases, respiratory diseases, cancer, and for personalized treatment. There are three types of biochips namely DNA microarray, protein microarray, and microfluidic chip. Increasing number of clinical trials along with technological advancements are expected to aid in growth of the market. Furthermore, increasing product approvals and increasing incidence of chronic diseases is also expected to assist the growth of the market during the forecasted period.
U.S. Biochip Products and Services Market: Drivers
Increasing development of drugs is expected to propel growth of the U.S. biochip products and services market over the forecast period. For instance, , according to Pharmaceutical Research and Manufacturers of America, over 750 orphan drugs were approved in the U.S. in 2018, compared to over 600 in 2017.
Moreover, increasing number of clinical trials is also expected to aid in growth of the market. For instance, according to the U.S. National Library of Medicine, the number of clinical trials conducted in the U.S. increased from 30,978 in 2018 to 32,523 in 2019.
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Statistics:
Products segment held dominant position in the U.S. biochip products and services market in 2019, accounting for 67.7% share in terms of value.
U.S. Biochip Products and Services Market: Restraints
Low commercial acceptability of biochips due to their high cost is expected to hinder growth of the market. The manufacturing process of biochip requires specialized techniques of surface chemistry. The process also requires highly sophisticated devices such as integrated electronic devices and micromechanical devices. These devices are expensive, in terms of both purchasing as well as handling cost. For example, the retail price of a single human biochip costs around US$ 400 to US$ 500.
Moreover, side effects related to biochip implants are not covered by medical insurance in the U.S., which is also expected to limit growth of the market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 5,161.8 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 10.1% | 2027 Value Projection: | US$ 11,151.8 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered (9): | Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH. | ||
| Growth Drivers: |
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| Restraints & Challenges: |
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Buy This Complete A Business Report With Flat US $2000 Off @
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U.S. Biochip Products and Services Market: Opportunities
New applications of biochips are expected to offer lucrative growth opportunities for players in the U.S. biochip products and services market. Biochips can be used to array protein substrates, used to track the interactions and activities of proteins and to determine their functions. The process is highly useful in diagnostic tests and drug lead screening.
Moreover, increasing prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Statistics:
The U.S. biochip products and services market was valued at US$ 5,161.8 Mn in 2019 and is forecast to reach a value of US$ 11,151.8 Mn by 2027 at a CAGR of 10.1% between 2020 and 2027.
Market Trends/Key Takeaways
Major players in the market are focused on development of fast, reliable COVID-19 test. For instance, in February 2020, Surfix B.V. partnered with Qurin Diagnostics B.V. and LioniX International B.V. for development of COVID-19 diagnosis and immunity detection test in collaboration with PhotonDelta.
Biochip products can find application in allergy diagnostics. For instance, in April 2020, researchers from Technical University of Munich reported use of Immuno Solid?phase Allergen Chip (ISAC) for nasal fluid as a noninvasive sampling method as allergy screening test.
Request Here For PDF Brochure:
https://www.coherentmarketinsights.com/insight/request-pdf/3899
U.S. Biochip Products and Services Market: Competitive Landscape
Major players operating in the U.S. biochip products and services market include, Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.
U.S. Biochip Products and Services Market: Key Developments
Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in March 2020, MGI Tech Co., Ltd partnered with SkyWater Technology, a DMEA-accredited Category 1A Trusted Foundry, under which the later will provide critical components used by MGI’s DNA sequencing system DNBSEQ-T7.
Major players in the market are also focused on product launch to expand their product portfolio. For instance, in June 2019, AYOXXA Biosystems GmbH launched its next generation LUNARISTM Reader in two different models, LUNARISTM Reader 96 for up to 96 samples and LUNARISTM Reader 384 scalable for up to 384 samples.
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
The post U.S. Biochip Product & Services Market Detailed Analysis of Current and Future Industry Figures till 2027 appeared first on Gatorledger.
Surgical Equipment are used for diagnosis of infectious diseases, respiratory diseases, cancer, and for personalized treatment. There are three types of biochips namely DNA microarray, protein microarray, and microfluidic chip. Increasing number of clinical trials along with technological advancements are expected to aid in growth of the market. Furthermore, increasing product approvals and increasing incidence of chronic diseases is also expected to assist the growth of the market during the forecasted period.
U.S. Biochip Products and Services Market: Drivers
Increasing development of drugs is expected to propel growth of the U.S. biochip products and services market over the forecast period. For instance, , according to Pharmaceutical Research and Manufacturers of America, over 750 orphan drugs were approved in the U.S. in 2018, compared to over 600 in 2017.
Moreover, increasing number of clinical trials is also expected to aid in growth of the market. For instance, according to the U.S. National Library of Medicine, the number of clinical trials conducted in the U.S. increased from 30,978 in 2018 to 32,523 in 2019.
Request Sample Copy + related graphs of the report@ https://www.coherentmarketinsights.com/insight/request-sample/3899
Statistics:
Products segment held dominant position in the U.S. biochip products and services market in 2019, accounting for 67.7% share in terms of value.
U.S. Biochip Products and Services Market: Restraints
Low commercial acceptability of biochips due to their high cost is expected to hinder growth of the market. The manufacturing process of biochip requires specialized techniques of surface chemistry. The process also requires highly sophisticated devices such as integrated electronic devices and micromechanical devices. These devices are expensive, in terms of both purchasing as well as handling cost. For example, the retail price of a single human biochip costs around US$ 400 to US$ 500.
Moreover, side effects related to biochip implants are not covered by medical insurance in the U.S., which is also expected to limit growth of the market.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 5,161.8 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 10.1% | 2027 Value Projection: | US$ 11,151.8 Mn |
| Geographies covered: |
| ||
| Segments covered: |
| ||
| Companies covered (9): | Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH. | ||
| Growth Drivers: |
| ||
| Restraints & Challenges: |
| ||
Buy This Complete A Business Report With Flat US $2000 Off @
https://www.coherentmarketinsights.com/promo/buynow/3899
U.S. Biochip Products and Services Market: Opportunities
New applications of biochips are expected to offer lucrative growth opportunities for players in the U.S. biochip products and services market. Biochips can be used to array protein substrates, used to track the interactions and activities of proteins and to determine their functions. The process is highly useful in diagnostic tests and drug lead screening.
Moreover, increasing prevalence of cancer is also expected to aid in growth of the market. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S.
Statistics:
The U.S. biochip products and services market was valued at US$ 5,161.8 Mn in 2019 and is forecast to reach a value of US$ 11,151.8 Mn by 2027 at a CAGR of 10.1% between 2020 and 2027.
Market Trends/Key Takeaways
Major players in the market are focused on development of fast, reliable COVID-19 test. For instance, in February 2020, Surfix B.V. partnered with Qurin Diagnostics B.V. and LioniX International B.V. for development of COVID-19 diagnosis and immunity detection test in collaboration with PhotonDelta.
Biochip products can find application in allergy diagnostics. For instance, in April 2020, researchers from Technical University of Munich reported use of Immuno Solid?phase Allergen Chip (ISAC) for nasal fluid as a noninvasive sampling method as allergy screening test.
Request Here For PDF Brochure:
https://www.coherentmarketinsights.com/insight/request-pdf/3899
U.S. Biochip Products and Services Market: Competitive Landscape
Major players operating in the U.S. biochip products and services market include, Abbott Laboratories, Agilent Technologies, Affymetrix Inc., Beckman Coulter, Inc., Illumina Incorporated, Life Technologies Corporation, Randox Laboratories Ltd., Surfix B.V, and AYOXXA Biosystems GmbH.
U.S. Biochip Products and Services Market: Key Developments
Major players in the market are focused on adopting partnership strategies to expand their product portfolio. For instance, in March 2020, MGI Tech Co., Ltd partnered with SkyWater Technology, a DMEA-accredited Category 1A Trusted Foundry, under which the later will provide critical components used by MGI’s DNA sequencing system DNBSEQ-T7.
Major players in the market are also focused on product launch to expand their product portfolio. For instance, in June 2019, AYOXXA Biosystems GmbH launched its next generation LUNARISTM Reader in two different models, LUNARISTM Reader 96 for up to 96 samples and LUNARISTM Reader 384 scalable for up to 384 samples.
Contact:
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837
The post U.S. Biochip Product & Services Market Detailed Analysis of Current and Future Industry Figures till 2027 appeared first on Gatorledger.
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