SOURCE: MarketResearch.com

MarketResearch.com

September 26, 2011 08:08 ET

Biochips Market to Reach $9.6 Billion by 2016

ROCKVILLE, MD--(Marketwire - Sep 26, 2011) - MarketResearch.com has announced the addition of the new market intelligence report "Global Biochip Markets: Microarrays and Lab-on-a-Chip," to their collection of Biotechnology market research. For more information, visit http://www.marketresearch.com/BCC-Research-v374/Global-Biochip-Microarrays-Lab-Chip-6558306/

Biochips have many applications today. In addition to genetic applications, biochips are being used in toxicological, protein, and biochemical research. Biochips are also able to rapidly detect chemical agents used in biological warfare so that defensive measures can be taken. With applications across many industries, the biochip market will grow rapidly in the next couple of years.

The global value of the overall biochips market, by end use was $3.5 billion in the year 2010. The size of the biochips market will increase from $3.9 billion in 2011 to nearly $9.6 billion by 2016, a compound annual growth rate (CAGR) of 19.5%.

Tools markets for biochips will experience slowing growth due to maturation of some market segments-including gene expression analysis and single nucleotide polymorphism (SNP) genotyping. This market will grow at a CAGR of 8.4% from 2011 to 2016 and will reach to $2.7 billion.

The diagnostics market segment is set for high growth. This market was around $1.05 billion in 2010 and is expected to reach $2 billion by 2011. The diagnostics market is forecasted to grow at a CAGR of 28.2% and to reach $4.1 billion by 2016.

For more information, visit http://www.marketresearch.com/BCC-Research-v374/Global-Biochip-Microarrays-Lab-Chip-6558306/

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