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The US Biochip and Equipment Market and Business - 2003 Edition Technology Trends, Market and Business Trends, Sales, and Distribution
Fuji-Keizai USA, Inc, July 2003, Pages: 159
This report provides an update about the biochip business and market. Despite the third year of a tough economic climate, the market, technologies, and opportunities regarding biochips is being used to help accelerate the research processes and capabilities of bio-pharmaceutical drug discovery and basic academic bioresearch.
The basic needs of the pharmaceutical industry still exist whether or not the economy is up or down. During the past ten years, major pharma companies have seen their R&D costs explode as their actual productivity has declined. Additionally, many of the blockbuster drugs will reach patent expiration dates by 2005-2006 and encourage competition from generic drug makers, which result in financial loss. Pharma companies have tried growing through M&As, but their growth or productivity has not increased.
To find products faster, they have looked outside of their labs to find drug products. 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 than in the current 10-15 year drug development cycle.
The basic academic research arena plays a role 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 interesting important topics with interesting findings. This study has found that the total biochip market size in 2002 is about $1.1 billion and is projected to grow to about $2.7 billion in 2007 with a Cagr of 19.5%. This study uses more than 44 figures and tables to illustrate the findings.
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