Global Lab-On-a-Chip Market, By Product Type (Instruments, Reagents and Consumables, Software, and Services), By Application (Genomics and Proteomics, Diagnostics, Drug Discovery, Others), By End-User (Hospitals, Academic and Research Institute, Diagnostic Lab, Homecare settings, and Others) and By Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)- Trends, Analysis and Forecast till 2029

Lab-on-a-chip (LOC) is an automated miniaturized laboratory system used for various forms of analyses such as chemical synthesis, biochemical operations, and DNA sequencing onto a single micro-process chip. Lab-on-a-chip device is known as micro-total analytical system. Lab-on-chip is altering the field of diagnosis and helps in providing quick diagnosis. Lab-on-a-chip devices integrate multiple laboratory functions on a single chip where the size of chip ranges from millimeters to a few square centimeters with handling of extremely small fluid volumes. Owing to the miniaturization of these biochemical operations, better diagnostic speed, cost efficiency, and sensitivity can be achieved.

 

Moreover, increasing research and development investment across the globe is a major factor driving growth of the global lab-on-a-chip market, currently.

However, limited technical knowledge related to lab-on-chips design and fabrication on a small scale that are not only functional but also feasible cost-wise, is a major factor expected to hamper growth of the global lab-on-a-chip market over the forecast period. Also, availability of alternative technologies in market is another major factor limiting growth for the target market.

The global lab-on-a-chip market has been segmented on the basis of product type, application, end user, and region.

The product type segment includes instruments, reagents and consumables, and software and services.

On the basis of application the global lab-on-a-chip market has been segmented genomics and proteomics, diagnostics, drug discovery, and others.

 The end-user segment includes hospitals, academic and research institute, diagnostic lab, homecare settings, and others.

On the basis of region the target market has been segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America is expected to account major market share as compared to that of other regions.

North America dominates the global lab-on-a-chip market and is expected to maintain its dominancy over the forecast period owing to growing adoption of lab-on-a-chip devices due to large number of aging population, in the region.

The markets in Asia Pacific and Europe are expected to show significant growth rates in global lab-on-a-chip market. This can be attributed to rising demand for lab-on-a-chip devices owing to increasing large pool of patients and rising government funding, in the region.

Key players operating in the global lab-on-a-chip market includes Takara Bio Inc., Nobel Biocare Services AG, Bio-Rad Laboratories Inc., PerkinElmer Inc., Cepheid Inc., EMD Millipore Corporation, Life Technologies Corporation, Roche Diagnostics, Siemens Healthcare GmbH, and Bio-Rad Laboratories, Inc.