Saudi Arabia Biochip Market Size & Outlook, 2023-2030
Saudi Arabia biochip market, 2018-2030 (US$M)
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Saudi Arabia biochip market highlights
- The Saudi Arabia biochip market generated a revenue of USD 121.1 million in 2023 and is expected to reach USD 205.3 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, dna chips was the largest revenue generating type in 2023.
- Lab-on-chip is the most lucrative type segment registering the fastest growth during the forecast period.
Biochip market data book summary
| Market revenue in 2023 | USD 121.1 million |
| Market revenue in 2030 | USD 205.3 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Dna chips |
| Fastest growing segment | Lab-on-chip |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Tissue Arrays, Cell Arrays, DNA Chips, Lab-on-chip, Protein Chips |
| Key market players worldwide | Agilent Technologies Inc, PerkinElmer, Illumina Inc, Bio-Rad Laboratories Inc, Standard BioTools Inc, GE HealthCare Technologies Inc Common Stock, Thermo Fisher Scientific Inc, Qiagen NV, Randox |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 1.1% of the global biochip market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia biochip market is projected to lead the regional market in terms of revenue in 2030.
- UAE is the fastest growing regional market in Middle East & Africa and is projected to reach USD 155.6 million by 2030.
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Biochip Market Scope
Biochip Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Saudi Arabia biochip market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biochip market will help companies and investors design strategic landscapes.
Dna chips was the largest segment with a revenue share of 36.33% in 2023. Horizon Databook has segmented the Saudi Arabia biochip market based on tissue arrays, cell arrays, dna chips, lab-on-chip, protein chips covering the revenue growth of each sub-segment from 2018 to 2030.
The growth of the country’s market can primarily be attributed to the increasing involvement of the government and rising awareness about the benefits of noninvasive diagnostic procedures. In addition, rapid advancements in diagnostic technologies have improved the accuracy of diagnostic techniques over the years.
Saudi Arabia has a high burden of genetic diseases, primarily due to consanguinity. The number of cancer cases and deaths has increased in recent years in the country. As per GLOBOCAN data, in 2020, around 27,885 new cases of cancer were diagnosed in Saudi Arabia, and around 13,069 people died due to it.
The growth of Saudi Arabia’s biochip market can primarily be attributed to the rising incidence of genetic diseases and various government initiatives to combat the growing number of cases. In addition, continuous government support to expand the biotechnology and pharmaceutical sectors in the country is expected to create a strong demand for next-generation screening technologies in the country.
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Our clientele includes a mix of biochip market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia biochip market, including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia biochips market size, by type, 2018-2030 (US$M)
Saudi Arabia Biochip Market Share, 2023 & 2030 (US$M)
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