Chronic disease growth will drive the global lab-on-a-chip market size to USD 14,772 million by 2030 at a CAGR of 11.5%

Acumen Research and Consulting

Acumen Research and Consulting recently published a report titled “Lab-on-a-Chip Market Size, Share, Analysis Report and Regional Forecast, 2022-2030”

SEOUL, South Korea, June 26, 2022 (GLOBE NEWSWIRE) — The Global Lab-on-a-chip market The size is expected to grow at a CAGR of 11.5% over the forecast period and reach a market size of USD 14,772 million by 2030.

Lab-on-a-chip (LoC) technology has a number of potential advantages over traditional benchtop operations. A tiny, portable instrument capable of providing clinical diagnostics at the point of care, for example, could be beneficial in health centers or remote locations where laboratory facilities and complex equipment are not available.

A lab-on-a-chip is a centralized chip that performs a variety of lab procedures. Photolithography is used in the fabrication of lab-on-chip technologies. This is more efficient in terms of fluid usage and has a faster response. To provide adequate healthcare, point-of-care testing equipment relies primarily on embedded chips. Based on an integrated sensor system, this approach exploits a thin layer of metal embedded in a microprocessor to replace the arduous and complex optics used in clinical laboratories. For example, in February 2016, researchers at the University of Kansas developed a breakthrough chip-based lab diagnostic system that quickly adapted the molecular diagnostic approach to detecting cancer using blood drops or plasma.

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Lab-on-a-Chip Market Report Coverage:

Market

Global lab-on-a-chip market

Market size 2021

$5,698 million

Market Forecast 2030

$14,772 million

CAGR During 2022 – 2030

11.5%

Analysis period

2018 – 2030

base year

2021

Forecast data

2022 – 2030

Segments Covered

By product, by technology, by application, by end use, by region

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Profiled Key Companies

Micronit DE, Tara Biosystems, BEOnChip, Mesobiotech, TisssUse, Hepregen, Elvesys, InSphero, AxoSim, Emulate Bio, Nortis Bio and MIMETAS.

Report cover

Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulatory Analysis

Scope of customization

10 a.m. free customization and expert advice

Growth aspects of the global lab-on-a-chip market

The growing prevalence of chronic diseases, increased demand for point-of-care diagnostics, and emerging applications of genomic technology in cancer research are all driving the revenue growth of the lab-on-a-chip industry. Proteomics is frequently used in drug development and biomarker research is helping to expand the market. Soaring demand for personalized drugs is driving strong growth in the lab-on-a-chip industry which is expected to continue.

The rising incidence of cancer is one of the major primary causes for revenue growth in the lab-on-a-chip industry. LOC sensors are used to detect infections, as well as to classify biosynthetic pathways and detect oral cancer early. Malaria, Swine flu, Ebola virus and Zika virus are also increasing the demand for LOC and hence the industry revenue growth. Various small and medium-sized enterprises, mainly in North America, Asia-Pacific and Europe, are seeking lab-on-chip technology for various applications. Adoption of lab-on-a-chip technology has been slow across a wide variety of application disciplines. To some extent, market expansion is hampered by the low reproducibility and heterogeneity of LOC results.

Due to increasing R&D spending in pharmaceutical drugs, biomedical sciences, and precision medicine, the global lab-on-a-chip market is becoming increasingly popular. Additionally, many microfluidic technology developers are forging alliances and collaborations to build more inventive lab-on-a-chip, which is driving overall growth. Technological innovations and improvements in LOC development will drive the market revenue growth in the coming year. However, technical advances have resulted in the creation of more advanced devices and assays that allow rapid and simple detection of pathogenicity, as well as advances in drug research, which will accelerate the acceptance of this technique. in the future.

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Lab on Chip Market Regional Overview

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa constitute the regional classification of the global lab-on-a-chip market. Due to rising incidence of infectious diseases, growing population in emerging economies such as India and China, and public investment in modern healthcare facilities, the Asia-Pacific region is expected to be among the fastest growing regions. fastest growing. In order to facilitate a huge amount of scientific data in the Asia-Pacific region, China is also investing heavily in technological research to understand the genetic makeup of people, as well as in analytical methodologies, cutting-edge data collection and fast processing capacity. The region is also a major player, particularly in point-of-contact (POC) systems based on labs on a chip. As a result, the increasing use of personalized medicine, clinical research, technological improvements, and new drug discovery is the main growth driver of the market.

Segmentation of the lab-on-a-chip market

The global lab-on-a-chip market has been segmented by Acumen Research and Consulting on the basis of product, technology, application, and end user. Based on product, the market is divided into reagents and consumables, software and IV needles. Based on technology, the market has divided into microfluidics, microarrays, tissue biochips, and others. Based on applications, the market is categorized into genomics, drug discovery, point-of-care diagnostics, proteomics, and others. On the basis of end-user, the market is categorized into hospitals and clinics, forensic laboratories, biotech and pharmaceutical companies, diagnostic centers, and academic and research institutes.

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Energy Harvesting System Market Players

Some key players covered globally in the lab-on-a-chip industry are Micronit DE, Tara Biosystems, BEOnChip, Mesobiotech, TisssUse, Hepregen, Elvesys, InSphero, AxoSim, Emulate Bio, Nortis Bio, and MIMETAS.

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Acumen Research and Consulting is a global provider of information and consulting services in the information technology, investment, telecommunications, manufacturing and consumer technology markets. ARC helps investment communities, IT professionals, and business executives make fact-based decisions about technology purchases and develop business growth strategies to compete in the marketplace . With a team of over 100 analysts and a collective industry experience of over 200 years, Acumen Research and Consulting ensures to provide a combination of industry knowledge with global and national level expertise.

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