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Global Lab-on-a-chip Market, By Product Type (Reagents & Consumables, Software, 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) by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$  5,175.4  million in 2019 and is expected to exhibit a CAGR of 10.5% over the forecast period (2019-2027).

The lab-on-a-chip market is expected to witness significant growth during the forecast period, owing to increasing technological advancements. For instance, in 2015, Engineers at Rutgers University of U.S. developed a novel device based LOC technology, which can significantly reduce the cost related to lab test for disease such as HIV, syphilis, and Lyme disease.

The LOC device, which employs microfluidics technology makes test more affordable for patient and researchers and also required less sample fluid compare to conventional tests.

Furthermore, in 2018, CN Bio Innovations Limited launched PhysioMimix, a printer-sized device which allows scientists to conduct organ-on-chip studies in their own labs and testing new drugs and chemicals on living human organ models.

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, 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) by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027'

To know the latest trends and insights related to the global lab-on-a-chip market, click the link below:

https://www.coherentmarketinsights.com/market-insight/lab-on-a-chip-market-515

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 causes of death and 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 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, which is expected to facilitate the growth of the lab-on-a-chip market in the near future.

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 (2019–2027) owing to increasing technological advancements in lab-on-a-chip market
  • Among application, the diagnostics and drug discovery segment is expected to account for a major revenue share by 2027.
  • Major 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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