Singapore, January 14, 2010: According to a new technical market research report from BCC Research, the global market value for biochip products is an estimated $2.6 billion in 2009, but is expected to increase to nearly $6 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 17.7%.

 

The BCC Research report noted that the largest segment in the market, DNA microarrays, is expected to increase at a 5-year CAGR of 15.2%, from $1.3 billion in 2009 to $2.7 billion in 2014. The second-largest segment, lab-on-a-chip products, is expected to reach $2.1 billion in 2014. The market in 2009 is estimated to be $817.6 million. Thus, the 5-year CAGR is projected to be a healthy 20.9%.

 

The third-largest segment, protein microarrays, is expected to increase in value from an estimated $343 million in 2009 to $848 million in 2014, for a 5-year CAGR of 19.8%.

The smallest segment of the biochips market, emerging microarrays, is expected to have the slowest growth rate. It's projected CAGR is 15.1%, increasing in value from an estimated $131 million in 2009 to nearly $265 million in 2014.

 

According to reports, Biochips currently are undergoing an important transition from primarily research-and-development tools to applied applications in next-generation sequencing, drug discovery and development, and clinical diagnostics. This shift toward clinical and applied markets is driven by large-scale efforts to associate genetic variation with disease susceptibility and progression. At the same time, miniaturization and integration of biochip devices is occurring. These factors drive down biochip costs, increase their portability, and validate their use as clinical diagnostics.