Global Market for Lab on Chip is Anticipated to grow at a Significant Pace i.e., USD 11.25 Billion during the Forecast Period 2021-2027

Published Date: Jul, 2021

The global lab on chip market is expected to witness a CAGR of 10.8% during the forecast period. The major factors driving the growth of the lab on chip market include rising demand for point of care testing, increasing prevalence of chronic diseases, growing use of applications such as genomics and proteomics (used for drug discovery and biomarkers) in cancer research. The increasing demand for personalized medicines will propel the lab-on-a-chip market revenue growth and this trend is expected to continue going ahead. Development in technology, the increasingly global geriatric population, and research in the miniaturization of LOC will further fuel the market revenue growth.

The COVID-19 outburst has resulted in an increase in research which is boosting the growth of the lab on chip market. For instance, Powerful researchers from the University of Alberta have teamed up to develop a portable LOC device for rapid detection of COVID19 antibodies.

The multi-antigen COVID-19 biochip test, ImmuSAFE was launched by Sengenics. It uses the company’s patented KREX protein folding technology and is a lab-based biochip test. ImmuSAFE enables target identification of epitopes, titres, and Ig class/ sub-class of antibodies that are produced during COVID-19 infection.

Agilent Technologies has unveiled three new microarrays to support pre-and postnatal research by cytogenetic laboratories. The new Agilent GenetiSure Cyto microarrays include updated, clinically relevant content from respected databases.

Browse 57 market data Tables and 35 Figures spread through 165 Pages and in-depth TOC on " Lab on Chip Market by Product Type ( Software & Services, Instruments and Reagents, and Consumables), by Application (Drug Discovery, Genomics & Proteomics, Diagnostics, and Others), Industry User (Diagnostic Centres, Biotechnology & Pharmaceutical Companies, Academic & Research Institutes, Hospitals, and Others), and Region - Global Forecast to 2027"

Diagnostic Segment to Remain Most Lucrative

The diagnostics segment is the prominent segment during the forecast period due to the rising demand for diagnostics having high speed, efficiency, and sensitivity of results. The increase in the global population will automatically increase the number of patients with diseases. This will lead to rising demand for microfluid systems for diagnosis, treatment, and monitoring of diseases which will provide lucrative opportunities for the diagnosis segment in the lab on the chip market.

Global Lab on Chip Market Segmentation Analysis

Segment

Categorization

Leading Category

Product Type

Software & Services, Instrument, and Reagents & Consumables

Instruments and Reagents

 (Highest)

 

Application

Drug Discovery, Genomics & Proteomics, Diagnostics, Others

Genomics & Proteomics (Fastest)

 

Industry User

Diagnostics Centres, Biotechnology & Pharmaceutical Companies, Academic & Research Institutes, Hospitals, Others

Biotechnology & Pharmaceutical (Fastest)

Region

North America, Europe, Asia-Pacific, and Rest of the World

North America (Highest)

Asia-Pacific (Fastest)

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North America is Found Dominating the Lab-on-a-chip Market During the Forecasted Period

North America dominates the global lab-on-chip market due to the growing geriatric population, the prevalence of infectious diseases, rise in development in molecular biology and genetic engineering techniques, rising number of genomics and proteomics research labs, initiatives by the government, funding on R&D for advanced medical treatment options, rise in demand for portable devices will fuel the growth of lab-on-chip device in the region.The COVID-19 pandemic has intensified the need for rapid-testing kits, which is anticipated to supplement the growth of the market in the United States

The key players in the LOC market include Becton, Dickinson and Company, Agilent Technologies, Inc., PerkinElmer, Inc., Danaher Corporation, Bio-Rad Laboratories, Thermo Fisher Scientific, Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Bio-Rad Laboratories, Abaxis Inc., Achira Labs, Advanced Liquid Logic and Advanced Microlabs.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015-2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Product Type, Application, Industry User, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

Becton, Dickinson and Company, Agilent Technologies, Inc., PerkinElmer, Inc., Danaher Corporation, Bio-Rad Laboratories, Thermo Fisher Scientific, Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Bio-Rad Laboratories, Abaxis Inc., Achira Labs, Advanced Liquid Logic, Advanced Microlabs

Global Lab On Chip (LOC) Market Coverage

Product Type Insight and Forecast 2015-2027

  • Software & Services
  • Instrument and Reagents
  • Consumables

Application Insight and Forecast 2015-2027

  • Drug Discovery
  • Genomics & Proteomics
  • Diagnostics
  • Others

Industry User Insight and Forecast 2015-2027

  • Diagnostics Centres
  • Biotechnology & Pharmaceutical Companies
  • Academic & Research Institutes
  • Hospitals
  • Others

Geographical Segmentation

Lab On Chip (LOC) Market by Region

North America

  • By Product Type
  • By Application
  • By Industry User
  • By Country – U.S., Canada, and Mexico

Europe

  • By Product Type
  • By Application 
  • By Industry User
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Product Type
  • By Application
  • By Industry User
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Product Type
  • By Application
  • By Industry User
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries

 

 

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Global Market for Lab on Chip is Anticipated to grow at a Significant Pace i.e., USD 11.25 Billion during the Forecast Period 2021-2027