+1 915 229 3004 (U.S.) | 
+44 7452 242832 (U.K.)
+1 915 229 3004 (U.S.) | +44 7452 242832 (U.K.)
Global Lab-on-a-Chip Device Market Size was valued at USD 5.7 Billion in 2022. The Lab-on-a-Chip Device market industry is projected to grow from USD 6.2 Billion in 2023 to USD 11.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.70% during the forecast period (2023 - 2032). an increase in the prevalence of both infectious and chronic diseases as well as an increase in the use of genomic and proteomic studies, are all contributing factors in the rise of cancer, are the key market drivers enhancing the market growth.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market for lab chips has expanded as a result of the rise in chronic diseases, the expansion of cancer research using genomes and proteomics, and rising profits. The surge in demand for individualized care has further stimulated the market for labs on chips. It is projected that the pattern will hold and that this technology's revenue will rise. The rising incidence of cancer in numerous nations is expected to result in higher revenue growth for the lab-on-a-chip business. As well as helping with the early identification of swine flu, malaria, the Zika virus, and the Ebola virus, it also helps with the detection of infections that cause oral cancer. Numerous applications for the lab and ship technology are being researched in countries like North America, Asia, and Europe.
The market for laboratories and ships has grown as a result of increased government spending on R&D. Increased investments in personalised medicine and the life sciences have also contributed to the need for lab on chips. A number of alliances and collaborations for developing cutting-edge lab ownership solutions are also fueling the market's growth. The introduction of cutting-edge technologies will accelerate the development of this technology by enabling labs and chips to detect early pathology.
The features of LoC technology include excellent test sensitivity, parallelization, ergonomics, waste minimization, and others. The medical sector is principally responsible for the development of this technology, which makes sample handling easier, provides accurate findings rapidly, and stimulates market growth. Additionally, new possibilities in the lab-on-a-chip market will emerge during the forecast period of 2022-2029 due to the expansion of the markets for compact devices, biosensor and biomarker research, fabrication technology, and commercial viability.
The interdisciplinary integration of several fields and the streamlining of laboratory procedures are characteristics of lab-on-a-chip technologies. The high level of integration required to create LOC devices is starting to be used to other facets of healthcare, including stem cells, medicine administration, synthetic biology, and environmental monitoring. Globally, chronic diseases are on the rise. Additional reasons contributing to an increase in frequent and expensive long-term health difficulties include changes in societal lifestyle and an exponentially growing global geriatric population. One of the other important aspects driving the market for these devices is the use of lab-on-a-chip in the identification of infectious diseases and chronic disorders.
LoC is being used increasingly frequently in both botany and medicine to diagnose a variety of diseases and infections, including HIV infections and chronic disorders. The market is predicted to advance as a result. Due to advantages like easy mobility, automated sample processing, and reconfigurability, LoC devices are highly common. Since LoC devices deliver prompt and precise findings, they are ideal for point-of-care diagnostics. Thus, driving the Lab-on-a-Chip Device market revenue.
The global Lab-on-a-Chip Device market segmentation, based on Product, includes instruments, reagents & consumables, software, and others. Instruments segment dominated the global market in 2022. This is due to the growing use of biochip and bio-array technology. The usage of lab-on-a-chip and microarrays in the lab necessitates not only the required chips but also the associated instrumentation, such as analyzers and support kits. The Reagents and Consumables Segment is predicted to develop significantly in the near future due to the increase in demand for reagents and consumables.
The global Lab-on-a-Chip Device market segmentation, based on Technology, includes microarrays, microfluidics, tissue biochip, and others. The microfluidics segment dominated the global market in 2022. Greater use of microfluidics has led to the shift from conventional laboratory procedures to a lab on chips. It is projected that microfluidics will have a wide range of applications. Microfluidics has been used extensively to generate a wide variety of consumer items. They help reduce cost management errors and offer a strong return on investment.
The global Lab-on-a-Chip Device market segmentation, based on Application, includes genomics, proteomics, point of care diagnostics, drug discovery, and others. Point of Care Diagnostics segment dominated the global Lab-on-a-Chip Device market in 2022. The surge in clinical LOC usage provides an explanation for this. It is an automated, small-scale laboratory system used for a variety of therapeutic applications both within and outside of hospitals.
The global Lab-on-a-Chip Device market segmentation, based on End User, includes hospitals & clinics, biotechnology and pharmaceutical companies, forensic laboratories, diagnostic centers, and academic & research institutes. The hospital & clinics segment dominated the global Lab-on-a-Chip Device market in 2022. This is due to the growing use of biochip and bio-array technology. LOC devices are used in many biological and other analytical applications.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Lab-on-a-Chip Device Market dominated this market in 2022 (45.80%). This is because molecular biology and genetic engineering techniques are being used more frequently, and because infectious diseases are becoming more common. Additional factors that are projected to encourage the expansion of the Lab-on-a-Chip device market in the North American area include the development of cutting-edge medical treatment alternatives, increased demand for portable devices, and an increase in the number of genomic and proteomics research labs. Further, In the North American area, the U.S. Lab-on-a-Chip Device market had the biggest market share, while the Canada Lab-on-a-Chip Device market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Download Free Sample to learn more about this report
Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Europe Lab-on-a-Chip Device market accounted for the healthy market share in 2022. This is a result of significant motivating factors like the expanding medical device industry, encouraging government initiatives to advance clinical research and the life sciences, and rising per capita income levels. Further, In the European region, the German Lab-on-a-Chip Device market had the biggest market share, and the U.K. Lab-on-a-Chip Device market had the quickest rate of growth.
The Asia Pacific Lab-on-a-Chip Device market is expected to register significant growth from 2023 to 2032. This is due to a number of factors, including the increased prevalence of infectious and chronic diseases, government initiatives to improve the healthcare system, and an increase in environmental research programs. Moreover, In the Asia-Pacific region, the Indian Lab-on-a-Chip Device market had the quickest rate of growth while China's Lab-on-a-Chip Device market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Lab-on-a-Chip Device market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Lab-on-a-Chip Device sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Lab-on-a-Chip Device industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Lab-on-a-Chip Device sector. Major players in the Lab-on-a-Chip Device market, including Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB, are attempting to increase market demand by investing in research and development Products.
Quotient Limited develops and manufactures transfusion diagnostic products. The company sells serological disease screening assays and transfusion diagnostics, generally known as blood grouping and blood grouping. In March 2022, Quotient Ltd. received the Conformite Europeenne (CE) Mark for the MosaiQ Extended Immunohematology (IH) Microarray. According to the CE marking, the Extended IH Microarray complies with the standards set out by the European Medical Devices Directive (EMDD).
For genome analysis, Bionano Genomics, Inc. provides optical genome mapping (OGM), a genomics service. The company offers diagnostic services to health care providers who specialize in the treatment of individuals with genetic issues, such as paediatric neurodevelopmental diseases, including autism spectrum disorders. The Saphyr technology, which gives OGM data to enable the very precise and sensitive detection of all sorts of structural variation, is promoted and made available for purchase. Patients can obtain diagnostic testing from the company's Lineagen division if they exhibit clinical symptoms that are indicative of an autistic spectrum disorder or other neurodevelopmental impairment. In order to analyze, visualize, interpret, and report copy number variants, single-nucleotide variants, and the absence of heterozygosity across the genome in a single consolidated view, it offers a platform-neutral software solution through its BioDiscovery business that combines sequencing and microarray data. In December 2021, Bionano Genomics Inc. announced the availability of version 6.1 of BioDiscovery's NxClinical software for genome analysis, which includes tools for the visualization, interpretation, and reporting of next-generation sequencing data in genetic diseases and cancer.
· Becton, Dickinson and Company
· Agilent Technologies Inc.
· Danaher Corporation
· Bio-Rad Laboratories
· Abbott Laboratories
· Hoffmann-La Roche AG
· PerkinElmer Inc.
· IDEX Corporation
· Thermo Fisher Scientific Inc.
· Cepheid Inc.
· Biacore AB
November 2021: Parallel Fluidics announced an investment of USD 1.8 million to make microfluidic development more accessible.
In April 2021: According to PathogenDx Inc., the U.S. Food and Drug Administration (FDA) has granted an Emergency Use Authorization (EUA) for the company's exclusive COVID-19 multiplexed viral diagnostic test, DetectX-Rv.
· Instruments
· Reagents & Consumables
· Software
· Others
· Microarrays
· Microfluidics
· Tissue Biochip
· Others
· Genomics
· Proteomics
· Point of Care Diagnostics
· Drug Discovery
· Others
· Hospitals & Clinics
· Biotechnology and Pharmaceutical Companies
· Forensic Laboratories
· Diagnostic Centers
· Academic & Research Institutes
· North America
- U.S.
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 5.7 Billion |
|
Market Size 2023 |
USD 6.2 Billion |
|
Market Size 2032 |
USD 11.4 Billion |
|
Compound Annual Growth Rate (CAGR) |
4.70% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Product, Technology, Application, End User, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB |
|
Key Market Opportunities |
Improved preference for automated lab-on-a-chip practices |
|
Key Market Dynamics |
Increase in the prevalence of chronic and infectious diseases and expanding applications of genomics and proteomics in cancer research |
The global Lab-on-a-Chip Device market size was valued at USD 5.7 Billion in 2022.
The global market is projected to grow at a CAGR of 4.70% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB
The Instruments Product dominated the market in 2022.
The Microfluidics Technology had the largest share in the global market.
Report Code :
RL65313
Published on :
Sep 2023
Request a Free Sample Report
Speak to Analyst