The global lab-on-a-chip (LOC) market is anticipated to grow at a considerable CAGR of 9.3% during the forecast period (2024-2031). The market growth is mainly attributed to the high use of Lab-on-a-chip in medical industries across the globe. The LOC’s provide short-time responses and are widely used in hospitals, pharmaceuticals, biotechnology companies, and research institutes for low fluid volume consumption in diagnosis. Moreover, the onset of COVID-19 has led to the innovation of a new portable lab-on-a-chip that can identify the presence of COVID-19 antibodies in blood donors which thus motivated the growth of the market. In addition to this, increasing demand for point of care testing devices and the rise in prevalence of infectious diseases which leads to the use of LOC’s in new technologies are also motivating the growth of this market. For instance, in February 2020, Veredus Laboratories, one of the Singapore-based molecular diagnostics manufacturers, has announced the commercial availability of portable lab-on-chip diagnostic instruments for the detection and distinction of 2019-nCoV, SARS-CoV, and MERS-CoV. The VereCoV Detection Kit is a diagnostic test that combines PCR and microarray technologies to provide high specificity, sensitivity, and a 2-hour turnaround time.
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Several types of research have also played a vital role in the development of new technologies using lab-on-a-chip. For instance, in January 2018, the Massachusetts Institute of Technology (MIT), announced the launch of microfluidics modular using the popular interlocking blocks by looking beyond such lab-on-a-chip designs. The engineers of MIT produced a 3D human tissue model of the interface between motor neurons and muscle fibers by using cells from either healthy subjects or ALS patients to generate the neurons in the model used for the testing of drugs. In April 2019, Princeton University (US) researchers created a novel technique to replace laboratory settings with a single microchip. This technique is based on complicated biosensor systems and uses microscopic metal layers placed in a microchip to replace bulky and complex optical gear used in diagnostic labs.
In March 2020, 1DROP Diagnostics, a Neuchatel-based startup dedicated to enabling precision medicine through non-invasive diagnostic tests, developed 1DROP, a portable medical diagnostics device capable of detecting biomarkers of cardiovascular health, liver, and kidney function with laboratory-quality results from a single drop of a sample. The startup has announced a collaboration on lab-on-a-chip technology for medical diagnostics on the International Space Station with the International Space Station U.S. National Laboratory (ISS National Lab), which is maintained by the Center for the Advancement of Science in Space (CASIS). This has been the first time capillary-driven microfluidics has been tested in space.
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Market Coverage
- Segment Covered-
o By Product Type
o By Application
o By Technology
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Agilent Technologies, Inc., Siemens AG, F. Hoffmann-La Roche AG, Bio-Rad Laboratories, Inc., Beckman Coulter, Inc. (CytoFluidix), Abbott Laboratories, Inc., Thermo Fisher Scientific Inc., and Danaher Corp., among others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Lab-on-a-chip Market Report Segment
By Product Type
- Reagents & Consumable
- Instruments
By Application
- Genomics
- Proteomics
- Diagnostics
- Drug Discovery
By Technology
- DNA Microarrays
- Microfluidic Chip
By End-User
- Hospitals and Diagnostic Labs
- Pharmaceutical Companies
- Individuals
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