Summary
This study provides a broad review of the biochip business roadmap as the market progresses through 2005. What is interesting about biochips is that the field is changing fast. Biochips are becoming more diverse and customers are appearing in other world regions such as China and India. The products from the biochip market are being used to help accelerate the research processes and capabilities of bio-pharmaceutical drug discovery and basic academic bioresearch.
During the past ten years, major pharma companies have seen their R&D costs explode as their actual productivity has declined. Drug companies have looked outside of their labs to find drug products faster. As a result, pharma companies have increasingly become motivated research and financial partners with many biotechnology companies. At the same time, pharma companies also want to become customers and partners of biochip companies because these companies have technologies that might help them become more productive faster.
New business models are being created. The ideas of pharmacogenomics and targeted therapies have received positive reception from government regulators. Roche and Affymetrix were the first to receive FDA approval for a biochip-based molecular diagnostic test and instrument system.
Basic academic research is helping too. Accelerating the drug making process requires modern industrialization of R&D, by using genomics and proteomics technologies such as biochips that the biotechnology companies provide.
This report discusses these important topics with interesting findings. This study has found that the total biochip market size in 2004 is about $2.0 billion and is projected to grow to about $5.1 billion in 2009 with a CAGR of 20.2%. The strategies of 29 firms are reviewed. This study uses more than 60 figures and tables to illustrate the findings.
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