Lab-on-a-chip Market – Miniaturized Testing, Maximized Results
Lab-on-a-chip (LoC) integrates different forms of analyses such as chemical synthesis, biochemical operations, and DNA sequencing onto a single chip. Miniaturization and optimization of these biochemical operations have resulted in cost efficiency and improved diagnostic speed. Moreover, LoC is a device that is capable of scaling single or multiple laboratory functions down to chip-format, where the size of chip ranges from millimeters to a few square centimeters. LoC is mainly the integration of electronics, fluidics, optics, and biosensors.
Increasing application of LoC in the medical field to diagnose various infections and diseases such HIV infections, chronic disease and in the field of botany is gaining traction. This is expected to drive growth of the market. Demand for LoC devices is high, owing to its features such as easy portability, automated sample handling, and re-configurability. LoC devices are suitable for point-of-care diagnosis as they provide fast and on-time diagnosis results. This is another factor expected to support growth of the market.
The microfluidic LoCs have great potential to revolutionize the biomedical field and has the potential to boost the growth of healthcare sector, as the microfluidic platforms enable the miniaturization, integration, and automation of biochemical assays, favoring the lab-on-a-chip device over traditional tests in research laboratories and pharmaceutical industry for drug discovery.
The global lab-on-a-chip market was valued at US$ 4.09 Bn in 2016 and is expected to witness a robust CAGR of 10.8% during the forecast period (2017 - 2025).
Increasing number of applications are expected to fuel the growth of 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 improve survival rate, and in turn favors growth of the lab-on-a-chip market. According to Center of Disease and Prevention in 2012, there were nearly 40,000 new cases of cancer of the oral cavity and pharynx diagnosed in the United States and nearly 9,000 deaths.
Furthermore, the major application of LoC systems is pathogen detection, which includes DNA-based methods with electrochemical techniques. Diseases such as Swine flu, Zika virus, and Ebola virus are major cause of deaths and risk of epidemics, which can be diagnosed early with the help of LoCs diagnostics, owing to their ability of providing diagnosis in real time to improve the disease-management landscape. Moreover, according to data published in International Journal of Bio-Science and Bio-Technology, 2016, researchers have suggested 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 fluid needed to perform conventional assays, which add ups one more application to the list of LoC application increasing the growth of lab-on-a-chip market in near future.
Lab-On-A-Chip Market by Region, (US$ Billion) 2016
Increasing number of diagnosis test are expected to drive the growth of Lab-on-A-Chip Market
North America accounts for the largest share in the global lab-On-A-Chip market, followed by Europe. This mainly is attributed to research and advancement in technology and wide acceptance of the lab-on-a-chip technology in the field of research and pharmaceutical company for drug discovery process and for diagnosis test. According to World Health Organization (WHO), in 2015, nearly half of the world's population were at risk of malaria and around 212 million malaria cases were reported, which in turn favors the growth of lab-on-a-chip market as malaria can be diagnosed by the lab-on-a-chip device. The lab-on-a-chip market is expected to show high growth rate in Asia Pacific region over the forecast period supported by increasing population prone to viral disease. According to Joint United Nations Programme on HIV/AIDS (UNAIDS) reports 2013, in Asia Pacific region 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.
Some of the major players operating in the Lab-On-Chip market includes Takara Bio Inc., Nobel Biocare Services AG, Bio-Rad Laboratories Inc., PerkinElmer Inc., and Cepheid Inc.
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