How much is the global biochips market worth?

The global biochips market was valued at $9,037 million in 2017, and is projected to reach $21,419 million by 2025 at a CAGR of 11.2% from 2018 to 2025. Biochip is a miniaturized medical device used in molecular laboratories to carry out several biochemical reactions simultaneously.

What drives the growth of the global biochips market?

Increase in prevalence of cancer, immunological disorders, and viral infections majorly drives the growth of the global biochips market. Other factors that boost the market growth include rise in geriatric population, increase in number of biochip applications, and high adoption of personalized medications.

How is the global biochips market segmented?

The global biochips market is segmented based on product, application, end user, and region. On the basis of product, the market is divided into DNA chip, protein chip, lab-on-a-chip, and others.