South Africa Biochip Market Size & Outlook, 2023-2030
South Africa biochip market, 2018-2030 (US$M)
Related Markets
South Africa biochip market highlights
- The South Africa biochip market generated a revenue of USD 106.5 million in 2023 and is expected to reach USD 186.7 million by 2030.
- The South Africa market is expected to grow at a CAGR of 8.4% 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 106.5 million |
| Market revenue in 2030 | USD 186.7 million |
| Growth rate | 8.4% (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, South Africa accounted for 0.9% 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 |
|---|
South Africa 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 36.24% in 2023. Horizon Databook has segmented the South Africa 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.
South Africa exhibits a high demand for DNA-based array solutions due to its increasing cancer prevalence. According to the International Agency for Research on Cancer, around 108,168 new cases of cancer were reported in South Africa in 2020.
Such a high cancer burden in the country may result in higher demand for effective diagnosis tools, thereby fueling the demand for novel cancer diagnostics. Moreover, leveraging precision medicine capabilities is supporting market growth.
For instance, in September 2021, African genomics startup 54gene raised USD 25 million to expand its precision medicine capabilities. In addition, in December 2021, H3Africa funded scientists and advanced genomics capabilities in Africa.
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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 South Africa biochip market, including forecasts for subscribers. This country databook contains high-level insights into South Africa biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Africa biochips market size, by type, 2018-2030 (US$M)
South Africa Biochip Market Share, 2023 & 2030 (US$M)
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