Biochips Market is estimated to be growing at a CAGR of 21.80%, to reach $28.44 billion by 2023

Recent Developments:

Sekisui Chemical has acquired Veredus Laboratories, a Singapore-based specialist in rapid and affordable multiplex molecular diagnostic systems. The acquisition will further strengthen Sekisui's presence in China, a key territory for the group and one of the main markets for Veredus' products. The biochip platform, also known as the VerePLEX™ Biosystem, combines Micro-Electro Mechanical Systems (MEMS) with micro-fluidics to integrate multiplexed DNA amplification with microarray detection for rapid, cost-effective, and accurate analysis of biological materials. With this acquisition, Veredus will continue to carry its own product line and also welcome the medical products from SEKISUI MEDICAL CO., LTD., a company which is 100% subsidiary of SEKISUI CHEMICAL CO., LTD. By the incorporation of VL’s unique technology, products and sales channels, the SEKISUI CHEMICAL GROUP will aim to expand its life science field of into a business which has global presence.

Specifically, the following two effects are anticipated in particular:

Establishment of ASEAN sales base and sales support system and Business area expansion and creation of technological synergy.

Founded in 2003, Veredus Laboratories Pte Ltd (hereinafter, “Veredus”) specializes in the development, manufacturing and marketing of innovative multiplexed molecular solutions in the clinical, specialty, and custom testing markets based on STMicroelectronics’ Lab-on-Chip platform.

Sekisui Chemical Co., Ltd., a member of the Sekisui keiretsu group of companies, operates three main business divisions, including Housing Company, Urban Infrastructure and Environmental Products Company, and High Performance Plastics Company. Prefabricated housing accounts for over half of Sekisui's sales. Its other products include plastic pipes, rain gutters, roofing materials, foams, packaging and industrial tapes, films, adhesives, high-functional resin, and transdermal and diagnostic drugs.

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Market Segmentations:

Market Data Forecast published a report named The Global Biochips Market was worth $10.61 billion in 2018 and estimated to be growing at a CAGR of 21.80%, to reach $28.44 billion by 2023.

Report is segmented by

Type
• DNA Chips
• Lab-On-A-Chip
• Protein Chips
End User
• Hospitals and Diagnostics Centers
• Biotechnology and Pharmaceutical Companies
• Academic & Research Institutes

Based on the type, DNA Chips are the largest segment, followed by lab-on-chips and protein biochips market, due to development in the proteomics and genomics field. However, enhancement in the field of recombinant proteins would assist the growth of protein biochips market. Under end user, The Hospitals and Diagnostics Center segment dominates the market, as it is primarily driven by various factors such as increasing government funding and technological advancements.

Geographical Segmentation:

Based on geography, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa. North America is leading the global Biochips market due to technological advancements and a large pool of ageing populace. However, Asia-Pacific is developing as one of the fastest growing market due to easy access to latest technologies, and promising government schemes.

Key market players in the market are -
• Fluidigm Corporation
• PerkinElmer Inc.
• Bio-Rad Laboratories Inc.
• GE Healthcare
• Cepheid Inc.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.
The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

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