The global biochips market is growing at a CAGR of nearly 13.5% during the forecast period (2021-2027). The major factors that are augmenting the growth of the market include technological innovations and the rising demand for personalized medicine. Furthermore, the rising drug development pipeline and emerging demand for genomics research-oriented product are also some crucial factors accelerating market growth. However, certain factors are restraining the growth of the market, which includes the high cost of biochips and stringent government regulations. Additionally, the COVID-19 pandemic has further accelerated market growth.

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Biochips are expected to play a major role in determining the effect of COVID-19 in the body which is further supporting drive the market growth. For instance, in November 2020, Singapore MedTech company, Cell ID Pte. Ltd. developed a test kit that identifies a person with COVID-19. The process is carried on a laptop through an app with the use of a portable genetic test kit that identifies a positive or a negative case within 5 minutes. Quiz PCR Biochips are cost-effective, single-use genetic tests to detect COVID-19, anywhere at any time. In November 2020, the company declared that it could manufacture 8.5 million biochips in a month, which is 17 million tests.

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Further, in June 2020, Sengenics, Singapore based Functional Proteomics Company, declared the launch of ImmuSAFE COVID+, a multi-domain, multi-antigen, fully quantitative serology test. ImmuSAFE allows the evaluation of the target epitopes, t Ig class/sub-class (IgG, IgA, IgM; IgG1-4), and titres of antibodies developed across all stages of COVID-19 infection. These stages range from initial exposure, disease development, post-recovery, or post-vaccination. Such results will offer critical insights on whether individuals have high titres of potentially neutralizing antibodies against SARS-CoV-2 that may protect against reinfection or whether booster vaccinations are needed.

Biochips Market Segmentation
Biochips Market by Type
• DNA Chips
• Lab-on-a-Chip
• Protein Chips
• Others

Biochips Market by Fabrication Technology
• Microarrays
• Microfluidics

Biochips Market by End User
• Hospitals and Diagnostic Centers
• Academic and Research Institutes
• Biotechnology and Pharmaceutical Companies


Biochips Market – Segment by Region
North America
• United States
• Canada

Europe
• Germany
• United Kingdom
• France
• Spain
• Italy
• Rest of Europe

Asia-Pacific
• China
• Japan
• India
• Rest of Asia-Pacific

Rest of the World
• Latin America
• Middle East and Africa

Company Profiles
• Abbott Laboratories
• BioFluidix GmbH
• Cellix Ltd.
• Dynamic Biosensors GmbH
• Epigem Ltd.
• Fluidigm Corp.
• Horiba, Ltd.
• LifeSensors Inc.
• Luminex Corp.
• Menarini Silicon Biosystems S.p.a.
• OriGene Technologies, Inc.
• Oxford Gene Technology IP Ltd.
• Randox Laboratories Ltd.
• Sengenics
• Thermo Fisher Scientific Inc.


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