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San Antonio, TX, United States, 2007/02/27 - New analysis from Frost and Sullivan - Owing to their ability to considerably reduce assay time—biochip technologies, including DNA microarrays, proteomics arrays, and microfluidics systems, are witnessing healthy demand.
New analysis from Frost and Sullivan Strategic Analysis of U.S. Biochips Markets, reveals that U.S.-based sales of biochip technologies generated revenues of $582.7 million in 2005, and are likely to reach $1.47 billion in 2012.
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Scientists often spend hours of manual time in preparation for an experiment and expend several hours waiting for the completion of the same. Biochip technologies, applied to experiments that involve nucleic acids, have greatly reduced the time taken for hybridization.
“With biochip technologies, laboratories not only save time and decrease long-term costs and sample size, but they also increase productivity, reproducibility, and improve efficiency,” notes Frost & Sullivan Industry Analyst, Jonathan Witonsky. “This can greatly increase the growth potential of the biochips markets.”
With increasing proteomics array technology sales likely to be a major contributor, the future holds good for the U.S. biochips markets. Proteomics array technology sales expect to grow at double the rate of any other U.S. biochips market segment, while the microfluidics/lab-on-a-chip markets expect to match the growth rate of the total U.S. biochips market.
“DNA microarray technologies are currently at the cusp of the molecular diagnostics revolution and present numerous market opportunities,” cites Witonsky. “This segment is likely to contribute the most revenue toward the total U.S. biochips markets through 2012.”
However, the recent spur of investment in alternative laboratory automation is limiting the market demand for multiple biochip-based devices. Many of the target customers for these technologies have invested in expensive dispensers, high-throughput screening (HTS) systems, or other automation in the last several years and are hence reluctant to invest in a new system.
In addition, target laboratories have invested in equipment with high-throughput capabilities, such as electrophoresis apparati, chromatography, and polymerase chain reaction (PCR) systems. Moreover, many researchers hesitate to purchase biochip technologies since the price of the required capital equipment is too high.
Manufacturers need to offset this notion through marketing campaigns that emphasize the cost-saving benefits of using DNA microarrays, proteomics arrays, and microfluidics/lab-on-a-chip technologies. They should emphasize the ability of these technologies to decrease long-term costs and sample sizes, increase productivity, reproducibility, and improve efficiency. Market participants can further benefit by expanding into niche markets and developing flexible systems targeted at numerous applications.
Strategic Analysis of U.S. Biochips Markets is part of the Drug Discovery Technologies subscription, which also includes research in the following markets: strategic analysis of U.S. genomics, U.S. DNA sequencing technology, and U.S. life science mass spectrometry. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants. Interviews are available to the press.
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