Europe Lab-on-a-Chip and Microarrays (Biochip) Market are expected to witness a high CAGR growth during the forecast period, owing to the rising burden of chronic diseases, increasing applications of proteomics and genomics, and increasing demand for point of care testing. According to the Cancer Atlas, in 2018, approximately 3.9 million new cases of cancer and almost 1.9 million deaths were registered in Europe. Protein microarrays are one of the advancing tools which hold a promising future in cancer proteomics research. Therefore, these factors are expected to fuel market growth in the forecast period.
Key Market Trends
Microarrays are Expected to Exhibit a Significant Growth During the Forecast Period.
Microarrays are expected to show significant growth in the market during the forecast period, owing to the growing burden of morbidity and mortality due to chronic diseases and novel technologies developing in the market.
According to the European Cardiovascular Disease Statistics, 2017, around 45% of all the death is caused due to cardiovascular diseases and almost 37% of deaths in the European Union are due to cardiovascular diseases. Microarrays are capable of profiling lncRNA and mRNA expression in atherosclerotic plaques.
Furthermore, in 2019, Quotient Limited received an approval (CE Mark) for Immunohematology (IH) Microarray for use with its MosaiQ diagnostic platform. Therefore, the aforementioned factors are expected to boost the demand for microarrays in the market over the forecast period.
Some of the key players in the Europe Lab-on-a-Chip and Microarrays (Biochip) Market are Abbott Laboratories, Agilent Technologies, Bio-Rad Laboratories, GE Healthcare, ThermoFisher Scientific, F. Hoffmann-La Roche Ltd, BioMérieux and Illumina Inc.
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