'Biochips market research methodology' presentation slideshows

Biochips Market Size- KBV Research

The Global Biochips Market size is expected to reach $20.3 billion by 2025, rising at a market growth of 11.2% CAGR during the forecast period. Biochips are miniaturized medical devices used within molecular laboratories to conduct simultaneous biochemical reactions. These devices can rapidly screen multiple biological analytes for several applications like disease diagnosis and identification of hazardous biological agents existing in systems. Their design is based on microarray and microfluidic technologies. Among the two, digital microfluidic biochip has surfaced as a highly efficient chip and has gained huge traction in the biochemical industry. The growth of the global biochip industry is largely driven by an increase in cancer occurrence, autoimmune diseases, and viral infections. The expansion of the geriatric population, the rise of biochip uses, and high acceptance of personalized drugs are also factors that boost the market growth. Nevertheless, the market growth is hampered largely by factors such as high biochip costs and absence of awareness. In contrast, increased R&D and public funding are anticipated to offer lucrative business growth possibilities in untapped markets in developing economies. Full Report: https://www.kbvresearch.com/biochips-market/

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