Market Trends of North America Lab-on-a-chip and Microarrays (Biochip) Industry
This section covers the major market trends shaping the North America Lab-on-a-chip & Microarrays Market according to our research experts:
Microarray are Anticipated to Hold Significant Share in the Studied Market
- A microarray is a miniaturized two-dimensional array on a solid substrate used to assay biological materials with multiplexed, parallel processing, and high-throughput screening methods. Additionally, the molecular basis of relationships can be studied using microarrays on a scale that is not conceivable with traditional research. This method allows for the simultaneous analysis of the expression of thousands of genes. Thus, with the advantages of microarrays in studying gene expressions and increasing advancements in product development, the segment is predicted to witness growth.
- Market players are taking several measures, such as product development, partnerships, and many others, to increase their presence in the market, which is expected to aid market growth. For instance, in March 2022, Quotient Limited received Conformite Europeenne (CE) Mark for its MosaiQ Extended Immunohematology (IH) Microarray. The CE marking confirms that the Extended IH Microarray meets the European Medical Devices Directive (EMDD) requirements. Such developments are expected to impact the segment's growth positively.
- Owing to the rising demand for point-of-care diagnostics and increasing accessibility of microarray techniques, market players are developing novel products. For instance, in December 2021, Bionano Genomics, Inc., launched version 6.1 of BioDiscovery's NxClinical software with expanded capabilities for next-generation sequencing (NGS) data in genetic diseases and cancer. These developments are anticipated to fuel segment growth.
- Therefore, the abovementioned factors are expected to accelerate the segment's growth during the forecast period.
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United States is Expected to Hold a Significant Share in the Market Over the Forecast Period.
- The United States holds a significant market share in the North American lab-on-a-chip and microarrays (biochip) market and is expected to maintain its stronghold during the forecast period. One of the key factors propelling the biochips market growth is the availability of complete drug development platforms. The demand for biochip and bio-array techniques is rising in North America due to the need to shorten turnaround times and miniaturize biological and clinical tests used for research and diagnosis. Rapid technological advancements associated with these techniques and a broad product line-up also accelerate the growth of the biochips market.
- As per the 2022 statistics published by the National Brain Tumor Society (NBTS), approximately 88,970 people are expected to be diagnosed with a primary brain tumor in the United States in 2022. In addition, as per the same source, an estimated 4,170 new cases of childhood brain tumors and 12,072 new cases of adolescent and young adults brain tumors are expected to be diagnosed in 2022 in the United States. This is expected to increase the need for an advanced tumor detection tool. As microfluidics exhibits high sensitivity and accuracy for detecting cancer-specific biomarkers at low concentrations, the demand for microfluidics is increasing for brain tumor detection. Thus, the increasing burden of chronic diseases is fueling the growth of the lab-on-chip market in the United States.
- Strategic activities such as mergers, acquisitions, and partnerships, along with product launches and approvals by the market players in the country, are expected to accelerate market growth. For instance, in April 2021, PathogenDx, Inc. received the Food and Drug Administration (FDA) emergency use authorization (EUA) approval for DetectX-Rv, an RT-PCR and DNA microarray hybridization test. It is intended for the use of qualitative detection of nucleic acids from the SARS-CoV-2 virus. Such developments are driving market growth in the United States.
- Therefore, the above-mentioned factors are expected to promote market growth in the country during the forecast period.
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