Updated on 9 July 2013
The global biochips markets is forecasted to reach $11.4 billion by 2018 with a CAGR of 18.6 percent during 2012-18
Singapore: A recent report released by RnRMarketResearch.com has analyzed the Global Biochips Industry and forecasted that by 2018 the market will reach $11.4 billion with a CAGR of 18.6 percent during 2012-2018. The report titled ‘Analysis of Global Biochips Industry, 2012-2018' said that the massive CAGR is primarily supported by Asia-Pacific followed by the European Union.
As per the report findings, the Biochips instruments segment is expected to exert the highest support to the industry with a CAGR of 20 percent globally. Microarrays segment accounts for nearly 70 percent of the industry value while services indicate lesser than 15 percent of the market value, claimed the report.
The analysis pointed out that North America is expected to maintain the highest market share for the biochips industry by 2018. Meanwhile, the Asian economies are expected to post a large CAGR of 19 percent during 2012-2018. "Higher growth rate favors improved industry investments in Asia-Pacific region in comparison with North America and Europe, going ahead," the report said.
Focusing on key areas, the report reviewed the latest biochips market trends with a perceptive attempt to disclose the near-future growth prospects. The study reveals profitable investment strategies for pharmaceutical manufacturers, biotechnology companies, laboratories, Contract Research Organizations (CROs), government organizations and other bodies.
The areas covered in the report are the emerging market trends, advancement in the technological space, region specific market demand of the segments, key growth areas and market size, region-wise demand factor, key competitors edge and various investment strategies.