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The Future of Medicine: How Biochip Companies are Revolutionizing Healthcare

Published
Published Date : Apr 2023
Author : Pratibha Bhattacharjee
Biography : Sr. content writer at Brand Essence Market Research. Passionate about content curation in the market research vertical. Always striving to create reliable and engaging industry-based content.

A biochip is a tiny device made of a substrate material such as glass, silicon, or plastic that can perform numerous biochemical reactions simultaneously. These devices are used n various applications such as DNA analysis, disease diagnosis, drug discovery, and environmental monitoring, among others.              

Agilent Technologies

Market Position or History

In 2021, Agilent Technologies announced the acquisition of Resolution Bioscience, a molecular diagnostics company focused on developing non-invasive liquid biopsy tests for cancer.

Business Overview and Strategy

Bill Hewlett established the company in 1999. Its headquarters are located in Santa Clara, California, United States. It pioneers in the development and distribution of software, services, instruments, and consumables for laboratories. It serves sectors like healthcare along with academic & government research.

Agilent Technologies aims at providing innovative solutions to customers in the life sciences, diagnostics, and applied chemical markets, with the goal of improving the quality of life and making the world a safer and healthier place.

Strengths

  • It has a strong brand recognition.
  • It has a robust distribution network.
  • It involves in continuous research & development activities.

Weaknesses

  • It is vulnerable to regulatory changes.
  • It relies on third party suppliers for various raw materials.
  • It is exposed to fluctuations in raw material prices.

LI-COR Biosciences

Market Position or History

In 2021, LI-COR Biosciences announced a collaboration with ChemoMetec to integrate ChemoMetec's NucleoCounter NC-202 into LI-COR's IRDye® Infrared Dye product line, which will allow for easy and reliable quantification of DNA.

Business Overview and Strategy

Headquartered in 1971, the company was established in 1971. It predominantly develops and manufactures innovative tools and solutions for research in the life sciences.

LI-COR is committed to advancing scientific research and discovery through its innovative products and services. The company's mission is to help scientists and researchers around the world to better understand the biological processes that underlie health and disease, and to develop new treatments and therapies based on that knowledge.

Strengths

  • It has excellent expertise in near-infrared fluorescence detection technology.
  • It offers a diverse range of products and services for life science research.
  • It has a strong reputation in the life sciences community.

Weaknesses

  • It faces intense competition in the life sciences industry.
  • It is vulnerable to raw material price fluctuations.
  • It operates in a stringent regulatory environment.

Molecular Devices LLC

Market Position or History

In 2021, Molecular Devices announced a partnership with Cyto-Mine Technologies to integrate its ImageXpress® Micro Confocal High-Content Imaging System with Cyto-Mine's single cell analysis platform, allowing researchers to analyze and sort individual cells for various applications.

Business Overview and Strategy

Established in 1983, the company has its headquarters in San Jose, California, United States. It is one of the pioneering biochip companies in the world. Apart from that, it also develops and manufactures other crucial devices and equipment for the life sciences and drug discovery sector.

Molecular Devices LLC aims to be a trusted partner to its customers by delivering high-quality, reliable products and exceptional customer support.

Strengths

  • It provides high--quality customer support and training services.
  • It has a strong reputation in the scientific community.
  • It has an excellent expertise in cellular imaging, electrophysiology, and microplate analysis.

Weaknesses

  • It offers limited diversification beyond core technologies.
  • It is susceptible to intellectual property disputes.

Fluidigm Corporation

Market Position or History

In 2021, Fluidigm acquired InstruNor AS, a Norwegian company that develops and manufactures microfluidic-based solutions for protein crystallization, X-ray crystallography, and drug discovery.

Business Overview and Strategy

The company was founded by Gajus Worthington in 1999. It  develops and markets innovative tools and technologies for life sciences research. Fluidigm's product portfolio includes systems for gene expression analysis, genotyping, and protein analysis, as well as a range of reagents and consumables for sample preparation and analysis.

Its mission is to empower researchers with innovative solutions that enable high-throughput, high-content analysis of individual cells and molecule.

Strengths

  • It offers a wide range of applications in genomics, proteomics, and cell biology.
  • It has a strong focus on customer support and training.
  • It has showcased strong financial performance and growth in revenue over the years.

Weaknesses

  • It has a limited geographic reach and concentration in North America and Europe.
  • It has limited diversification beyond core technologies.

PerkinElmer Inc.

Market Position or History

In January 2021, PerkinElmer acquired Horizon Discovery Group plc, a leading provider of gene editing and gene modulation technologies.

Business Overview and Strategy

The company was established in 1937 by  Richard Scott Perkin and Charles Elmer. Its headquarters are located in Waltham, Massachusetts, United States. Its collection of offerings is remarkably varied, covering a broad range of fields such as life science research, environmental and industrial testing, and diagnostics.

PerkinElmer is renowned for producing top-quality consumables and microplates, specifically designed to aid in an assortment of next-generation sequencing applications. The all-inclusive solutions devised by PerkinElmer aid scientists, researchers, and medical professionals in accurately diagnosing illnesses while simultaneously discovering tailored medicines for patients.

Strengths

  • It develops high-quality consumables and microplates for next-generation sequencing applications.
  • It has a strong global presence and brand recognition.
  • It has a strong focus on sustainability and corporate responsibility.
  • It has robust R&D capabilities and investment in technology.

Weaknesses

  • It depends on a few key product lines for a significant portion of revenue.
  • It faces a risk of data breaches and cybersecurity threats.
  • It is vulnerable to reputational damage due to product recalls or safety concerns.
SUMMARY

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