NEW YORK, Aug. 23, 2011 /PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
A biochip is defined as a collection of miniaturized test sites (microarrays) arranged on a solid platform that allows multiple tests to be performed at the same time with increased efficiency and higher speed. The global biochip market is studied by the types and key applications. It was valued at $2.6 billion in 2010 and is expected to reach $5.6 billion by 2015; growing at a CAGR of 16.7%. This growth is attributed to increasing applications in cancer diagnostics and expression profiling, the boom in personalized medicine, and government funding.
DNA microarrays represent the largest segment of this market and will continue to be the largest contributor during the study period (2010-2015). However, this segment will be closely followed by lab-on-chip (LOC) in the coming years due to its wide applications and increased adoption by various biotechnology, pharmaceutical companies, and research laboratories. The third largest segment – protein microarrays will be the fastest growing segment; forecasted to
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