ALBANY, New York, May 21, 2013 /PRNewswire/ --
According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Biochip Products and Services Market (Microarrays, Reagents, Drug Discovery, Life Science Research, IVD Tests) - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the market was valued at USD 2.4 billion in 2011 and is expected to grow at a CAGR of 10.1% from 2012 to 2018, to reach an estimated value of USD 4.7 billion in 2018.
Browse the full report at http://www.transparencymarketresearch.com/biochip-products-services.html
The most important growth driver of this market is the increasing application of genomics and proteomics in cancer treatment research, leading to an increase in the use of microarrays and reagents. Furthermore, growth in drug discovery, personalized medicine and life science research, along with developments such as the U.S. FDA approval of personalized medicines for treatment of melanoma and lung cancer will also support future growth of this market.
Microarrays held the majority share of the total market in 2011, on account of technological advancements in the field of microarrays and increased commercial application of biochips post the success of the Human Genome Project (HGP). Within this segment, the highest market share is held by DNA chips, due to increasing gene expression profiling in drug delivery and epidemiological research. The laboratory and protein chip segments are expected to experience maximum growth within the microarrays segment, due to product advancements and broadening capabilities in drug delivery and diagnostic testing. The market for reagents and other consumables holds the potential for highest gro
|SOURCE Transparency Market Research|
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