According to the report Latin America Biochips Market, published by Market Data Forecast, the market was worth $0.69 billion in 2016 and estimated to be growing at a CAGR of 18.34%, to reach $1.61 billion by 2021
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Bio-microsystem is a group of miniaturized and integrated devices for biological or biochemical reactions in diagnostics, monitoring, therapy, and research and development. Some of the advantages of bio-microsystems are parallelism, integrated intelligence, low cost, speed, complexity and redundancy.
Biochip is one of the examples of technical development of bio-microsystem. Biochip is a collection of microarrays arranged on a solid substrate which allows hundreds or thousands of complex biochemical reactions such as decoding genes in few seconds.
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Biochips are used in variety of applications such as research application in biotechnology such as genomics and proteomics, drug screening and development and molecular diagnostics. It also offers other diagnostic applications such as microfluidic technologies, microarray and biosensors.
Biochip is also used to analyse organic molecules associated with living organisms. Biochip helps in identifying gene sequences, airborne toxins, environmental pollutants and other biochemical constituents.
There are various types of biochips such as DNA chips, lab-on-a-chip and protein chips. Chip based analysis is mainly used in on-site diagnostics.
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Latin America Biochips Market: Drivers & Restraints
The growth of the Latin America Biochips Market is mainly driven by factors such as an increased application in cancer study, surge in the utilization of personalized medicine, and increased commercial uses of biochips. However, factors such as an availability of substitute technologies, low commercial suitability due to higher costs, and standardization concerns are restraining the growth of the market in this region.
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Biochips Market: Segmentation
- By Type
o DNA Chips
- SNP Genotyping
- Agricultural Biotechnology
- Gene Expression
- Cancer Diagnosis & Treatment
- Drug Discovery
- Clinical Diagnostics
- IVD & POC
- Drug Discovery
o Protein Chips
- Expression Profiling
- High-Throughput Screening
- Drug Discovery
o Other types
- By End User
o Hospitals and Diagnostics Centres
o Biotechnology and Pharmaceutical Companies
o Academic & Research Institutes
- By Fabrication Technology
From simple data collation through secondary and primary research to ad-hoc research requests relating to specific information. Get report at www.marketdataforecast.com/market-reports/latin-america-biochips-market-1634/customize-report
Latin America Biochips Market: Overview
The medical significance of miniaturised or microscopic biological microarray chips, commonly known as biochips, has caused a revolutionising effect on the healthcare industry. The ICT and electronics sector has reaped benefits by incorporating latest scientific research in biochip technology into various medical fields such as bioinformatics or molecular biology.
The wide range of biochip applications and products have catapulted the growth of the biochips market size at a remarkable level.
The variable functionality of biochips is considered as a crucial advancement in medical technology. Performing abundant calculations in a few seconds and assessing the gene-decoding data by sending it to a computer quickly are the key features that have led to robust adoption of biochips.
Latin America Biochips Market: Region-wise Outlook
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. Brazil is the largest market for Biochips, followed by Mexico, Colombia, and Argentina.
With the exception of Brazil and Mexico, the medical regulatory environment in this region is inconsistent when compared to developed countries. The recent developments in the biochips market include the outsourcing of biochips technology, which would aid in decreasing labour cost and capital prerequisites
Key Questions Answered
- What is the current and future Biochips market outlook in Latin America? What trends are affecting the Latin American market?
- What is the competitive landscape and market share of major players in the Biochips market space in Latin America?
- What are the key, high growth markets that Biochips manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Biochips currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Biochips?
- What are the challenges and barriers that have hindered widespread adoption of Biochips market?
Latin America Biochips Market: Key Players
The major companies dominating the Biochips market in this region are Agilent Technologies Inc., Fluidigm Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., GE Healthcare, Cepheid Inc., Illumina Inc., and Thermo Fisher Scientific Inc.
Reasons to access Latin America Biochips Market Report:
- Regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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