Lab-on-a-chip Market to Surpass USD 11,488.6 Million With Growing at a CAGR of 10.5% Forecast 2027 | Bio-Rad laboratories, Abbott Laboratories, Hoffman-La Roche Ag

Lab-on-a-chip (LOC) market is expected to witness significant growth over the forecast period, attributed to rising technological advancements by market players. For instance, Engineers at Rutgers University of the U.S. developed a novel device based LOC technology, in 2015, which significantly reduces the cost related to lab test for diseases such as HIV, syphilis, and Lyme disease.

Moreover, LOC device employs microfluidics technology that makes test more affordable for patient and researchers and require less amount of sample fluid in comparison to conventional tests. Furthermore, in 2018, CN Bio Innovations Limited launched PhysioMimix, a printer-sized device that allows researchers to conduct organ-on-chip studies in their own labs and tests of new drugs and chemicals on living human organ models.

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Browse 44 Market Data Tables and 37 Figures spread through 171 Pages and in-depth TOC on 'Global Lab-on-a-chip Market , by Product Type (Reagents & Consumables, Software, and IV Needles), by Application (Genomics, Proteomics, Diagnostics, and Drug Discovery), by Technology (Microarrays and Microfluidics), by End User (Hospitals, Diagnostic Labs, Academic & Research Institutes, and Biotechnology & Pharmaceutical Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027'

Major application of LoC systems include pathogen detection by using DNA-based methods with electrochemical techniques. Moreover, infectious diseases such as Swine flu, Zika virus, and Ebola virus are major causes of death and epidemics can be diagnosed early with the help of LoCs diagnostics. This is attributed to their capability of offering diagnosis in real time to improve the disease-management landscape. Moreover, according to data published in the International Journal of Bio-Science and Bio-Technology in 2016, researchers suggest that LoC technology can be useful for finding a novel way to treat central nervous system disorders such as Parkinson’s disease and spinal cord injury with the help of extracting sufficient cerebrospinal fluids needed to perform conventional assays, and this is expected to drive growth of the lab-on-a-chip market over the forecast period.

Key Takeaways of the Global Lab-on-a-chip Market:

• The global lab-on-a-chip market is expected to exhibit a CAGR of 10.5% over the forecast period (20190-2027), attributed to rising technological advancements in lab-on-a-chip by market players

• Among application, diagnostics and drug discovery segment is expected to account for a significant market share by 2027, in terms of revenue

• 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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