Biochip Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Biochips Instrument, Microarrays, Reagents, and Analysis Software), By Application (Drug Discovery, Gene Sequencing, Cancer Research, Clinical Diagnosis, Proteomics, and Others), By End-Users (Hospitals, Diagnostic Centers, Pharmaceutical and Biotechnology Companies, and Others), and Region

Biochip Market size was valued at US$ 10,038 million in 2023 and is poised to grow at a CAGR of 11.3% from 2024-2030. Market is the miniaturized test sites that are collectively arranged on a solid substrate. It allows various tests to be performed at the same time owing to higher speed. The biochip has the capacity of performing thousands of mathematical operations within a second. There are various types of biochips available, which include protein chips, DNA chips and lab-on-chips. Biochips are used in various applications such as drug screening and development. They are also used in analyzing the organic molecules that are associated with living organisms and they are also helpful in identification of gene sequences.

Biochips have a wide range of uses, from illness marker identification to drug development speed, as well as a variety of research applications in genomes, genotyping, and proteomics. Increased clinical research spending, as well as significant resource commitment for genomic and proteomic research, are factors that support the market's growth potential. Biochip systems, on the other hand, require automated robotic tools to handle and scan micro-scale samples because probes are formatted in micro sizes on glass surfaces.

Data analysis also necessitates the use of bioinformatics technologies. Biochips are predicted to become a highly sophisticated and relatively expensive technology as a result of the need for such specific instruments and procedures for implementation, as well as the expansion of the product range for the market. DNA chips, lab-on-a-chip (LOAC), protein chips, and tissue/cell arrays are the several types of biochips available. As a consequence of increased spending on genomics and next-generation sequencing research, as well as rising demand for the detection and diagnosis of cytogenetics abnormalities, DNA chips accounted for the greatest share of sales.