Lab-on-a-chip Market Size – Detailed Analysis of Current Industry Figures with Forecasts Growth By 2026

Advancement in technology and techniques of diagnosing pathogen-based disease are expected to favor the lab-on-a-chip market growth. Due to the miniaturization of biochemical operations, better diagnostic speed, cost efficiency, ergonomics, sensitivity etc. can be achieved through lab-on-a-chip device. The biomedical applications of LoC in different fields such as diagnostics, cellomics, in environmental studies to control the effect of pathogens, to check the food quality, detection of various antibiotic families in raw milk favor the growth of lab-on-a-chip market.

Key players operating in the global Lab-on-a-chip Market include Becton, Dickinson And Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad laboratories, Abbott Laboratories, Hoffman-La Roche Ag, PerkinElmer, Inc., IDEX Corporation, Thermo Fisher Scientific, Inc., Cepheid Inc. and Biacore AB.

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Lab-on-a-chip also helps in early detection of chronic diseases which in turn also reduces mortality rate.

Market Dynamics

Increasing adoption of lab-on-a-chip technology is expected to boost the growth of the lab-on-a-chip market. The trend of single-combined tests over numerous tests for various applications is expected to favor growth of the lab-on-a-chip market. The innovation carried out by manufacturers and researchers is positively impacting this market. For instance, in August 2017, researchers in the engineering and chemistry departments of Brigham Young University in Utah developed a 3D-printed lab-on-a-chip device to achieve true microfluidic flow.

Increasing number of LoC application are expected to fuel the growth of the global lab-on-a-chip market in near future

Immunoassay LoC for bacteria detection, real time PCR detection chips, DNA chip, gene chip, cellular analysis chip, and flow cytometer LoC (for HIV) are some of the applications of LoC technology in the biomedical field, as the LoC method results in less energy consumption with fast synthesis of the results, which paves the way for faster clinical translation, supporting the growth of lab-on-a-chip market. Recent advances in the field of computational simulations have made possible to synthesize the inorganic nanomaterials-based on Nanomedicine in a single construct using LoC technology, which is useful for theranostic applications. This new field of medicine combines specific targeted therapy based on specific targeted diagnostic tests.

LoC devices are also used for the biomarker-based identification and early detection of oral cancer, which helps to improve survival rate, and in turn favors growth of the lab-on-a-chip market. According to World Health Organization (WHO) in 2017, there were nearly 657,000 new cases of cancer of the oral cavity and pharynx diagnosed each year and nearly 330,000 deaths globally.

Global Lab-on-a-chip Market- Restraints

Few growth restraining factors are initial higher purchasing rate and lack of awareness regarding the use of lab-on-a-chip devices in middle-income countries which is limiting the growth of the lab-on-a-chip market.

Global Lab-on-a-chip Market- Regional Insights

On the basis of region, the global lab-on-a-chip market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global lab-on-a-chip market owing to increasing prevalence of infectious diseases. For instance, according to Centers for Disease Control and Prevention in 2017, the number of tuberculosis and salmonella cases were 9,105 and 54,285 respectively in the U.S.

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Asia Pacific is the fastest growing region in the global lab-on-a-chip market owing to increasing population prone to viral disease. For instance according to Joint United Nations Programme on HIV/AIDS (UNAIDS) reports 2013, in Asia Pacific more than 350,000 people were infected with HIV with nearly 5 million living with HIV/AIDS, which in turn is expected to propel the market growth in Asia Pacific region.

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