Biochips are small devices resembling integrated circuits built from organic molecules and used for analyzing organic molecules related to living organisms. According to Marketstack, the Global Biochips Market is expected to grow considerably during the forecasted period. Factors such as the rise of personalized medicine, which aims to tailor healthcare to an individual's unique genetic makeup, are expected to drive the Global Biochips Market in the forecasted period. Further, research toward developing new lab-on-a-chip-based POC systems for the diagnosis of chronic diseases is an emerging area that is expected to drive the Global Biochips Market in the forecasted period. Furthermore, microarray technology is a significant fabrication technique used to create biochips for various applications in genomics, proteomics, and diagnostics. It is expected to drive the Global Biochips Market in the forecasted period. However, the high cost associated with biochip instrumentation and the need for knowledge about the application of biochips in emerging markets is anticipated to hamper the growth of the Biochip market in the forecasted period. 

The rise of personalized medicine, which customized medical treatments based on an individual's genetic makeup and specific health characteristics, has fueled the demand for biochips. Biochips can analyze genetic variations, identify biomarkers, and provide valuable data for personalized diagnostics, drug selection, and treatment monitoring. Biochips facilitate the discovery and validation of biomarkers, which are crucial for early disease detection and monitoring treatment response. The ability to analyze large numbers of biomarkers simultaneously on biochips expedites the identification of potential disease markers and enhances our understanding of complex biological processes. Biochips offer advanced diagnostic capabilities by allowing the simultaneous detection of several analytes in a single assay. This enables quick and accurate diagnosis of diseases, infections, genetic disorders, and cancer biomarkers. The trend toward precision diagnostics is driving the adoption of biochips in clinical laboratories and healthcare settings. 

Before the adoption of microarray biochips, drug discovery was considered a significant component of operations in pharmaceutical companies. However, biotechnology companies have begun engaging in drug discovery activities. Microarray biochips reduce the drug pipeline timelines in drug discovery companies. Manufacturers of microarray biochips are attempting to provide better and more effective solutions for drug discovery in response to the increase in end users. Some developments include multi-parameter testing, chip technology miniaturization, and the introduction of flexible array technology. Testing a drug for efficacy and toxicity is crucial in drug discovery. Typically, human hepatocytes were used in this testing. But now that microarray biochips are available, this problem is carefully and precisely addressed.

Additionally, these biochips are efficient in terms of cost and perform several tasks at once. As a result, businesses use it more frequently. Due to the use of microarray technology in drug discovery, numerous pharmaceutical and biochemical companies have seen increased demand for this technology and related products. Hence, such factors will drive the market's growth during the forecasted period. 

North America is predicted to witness significant development in the forecasted period due to the presence of vital players in the region and the development of healthcare infrastructure. In addition, the area has witnessed major collaborative activities with healthcare giants that are extensively investing in R&D in microarray technology. The lab-on-a-chip (LOC) segment is expected to grow positively due to the increasing number of chronic diseases and rising technological advancements. There is also a rise in the adoption of personalized medicine and easy accessibility of lab-on-chip technology, which will boost the demand for the same across the world. Also, various applications of LOC are multiplying. Lab-on-a-chip devices equipped with electrodes for particle or cell detection, particle packing, sorting, electrophoresis, PCR, etc., are commercially available.

Furthermore, the market has witnessed frequent developments in lab-on-a-chip (LOC) platform-based immunoassays. Such advanced LOC platforms include microfluidic chips, paper, lateral flow, electrochemistry, and new biosensor concepts. The rapid increase in demand for point-of-care diagnosis is the most prominent driver expected to propel the segment during the forecast period. Genomics and proteomics make extensive use of microarray technology. It has made it possible for several bioentities to function in parallel simultaneously. All kinds of microarrays, including chemicals, compounds, DNA, and proteins, are crucial for research and are in high demand. Chemical structures are read against numerous biological targets using chemical microarray technology. Before immobilization, this technology was used to link chemicals directly from the chip, but this presented a problem. As a result, new technology has been created to connect dry chemicals on the same chip. This has enabled the analysis of cell-based assays using chemical microarray technology. Thus, with the increasing use of chemical microarray technology in biochips, the focus market is expected to grow during the forecast period. 

The market players are Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., PerkinElmer, Illumina, Inc., and Bio-Rad Laboratories, Inc.

In September 2023, Agilent and ACTRIS announced their collaboration to expedite cellular and genetic treatment in Singapore. The new partnership intends to install and operate Agilent's xCELLigence real-time cell analyzer, Seahorse XF technology, and other cell analysis portfolios in the country's most significant national cell and gene therapy process development and manufacturing facility at ACTRIS.

In June 2023, MilliporeSigma, the U.S. and Canada Life Science business of Merck KGaA, Darmstadt, Germany, announced that Proteologix US Inc. ("Proteologix") has been selected as the North American winner of its 12th Advance Biotech Grant program.

Global Biochips Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Biochips Market by segmenting based on Product (DNA Chip, Protein Chip, Lab-on-a-chip, and Others), Application (Drug Discovery and Development, Disease Diagnostics, Genomics, Proteomics, Agriculture, and Others), and End User (Biotechnology & Pharmaceutical Companies, Hospitals & Diagnostics Centres, Academic & Research Institutes, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report examines the market drivers and restraints and the impact of COVID-19 on market growth in detail. The study covers emerging market trends, development, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.