Sweden Biochip Market Size & Outlook, 2023-2030
Sweden biochip market, 2018-2030 (US$M)
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Sweden biochip market highlights
- The Sweden biochip market generated a revenue of USD 294.3 million in 2023 and is expected to reach USD 770.7 million by 2030.
- The Sweden market is expected to grow at a CAGR of 14.7% 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 294.3 million |
| Market revenue in 2030 | USD 770.7 million |
| Growth rate | 14.7% (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, Sweden accounted for 2.6% 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 Europe, Germany biochip market is projected to lead the regional market in terms of revenue in 2030.
- UK is the fastest growing regional market in Europe and is projected to reach USD 2,058.2 million by 2030.
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Biochip Market Scope
Biochip Market Companies
| Name | Profile | # Employees | HQ | Website |
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Sweden 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 39.14% in 2023. Horizon Databook has segmented the Sweden 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.
Cancer is one of the leading causes of mortality in Sweden. According to GLOBOCAN 2020, 24,464 cancer deaths occurred in the country and approximately 62,494 new cancer cases were diagnosed. To reduce the burden of cancer, the new EU Cancer Plan was introduced by the Swedish government.
This plan emphasized improvements in the treatment of cancer. This was expected to improve the demand for advanced cancer therapies and diagnostics. Thus, the rising demand for advanced therapies and diagnostics to manage the condition is projected to fuel the demand for biochips in the country.
The country’s precision medicine industry has received significant investments over the recent past. For instance, in September 2021, Swedish national infrastructure Genomic Medicine Sweden (GMS) received USD 25.6 million in funding for the development of precision medicine therapeutics.
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Horizon Databook provides a detailed overview of country-level data and insights on the Sweden biochip market, including forecasts for subscribers. This country databook contains high-level insights into Sweden biochip market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Sweden biochips market size, by type, 2018-2030 (US$M)
Sweden Biochip Market Share, 2023 & 2030 (US$M)
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