Global Lab-on-a-chip (LOC) Market Size to Reach USD 19.23 Billion in 2032 | Emergen Research

Emergen Research

Lab-on-a-chip market revenue growth is being driven by increasing demand for point of care testing, rising prevalence of chronic diseases, and growing applications of genomics and proteomics in cancer research

Vancouver, Oct. 26, 2023 (GLOBE NEWSWIRE) -- The global Lab-on-a-chip (LOC) market size is expected to reach USD 19.23 Billion at a steady CAGR of 10.6% in 2032, according to latest analysis by Emergen Research. Increasing prevalence of cancer is a major factor driving lab-on-a-chip market revenue growth to a significant extent, and this trend is expected to continue going ahead. LOC devices are used in detection of pathogens, and also for biomarker-based identification and early diagnosis of oral cancer. High incidence of swine flu, malaria, Ebola virus, and Zika virus are also fueling market revenue growth.

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LOC devices are portable and provide benefits of re-configurability and automated sample handling. These devices also offer rapid on-time diagnosis and are used for point-of-care diagnosis. Some of the applications of lab-on-a-chip in the biomedical field include immunoassay LOC for bacteria detection, gene chip, DNA chip, real-time PCR detection chips, cellular analysis chip, and flow cytometer LOC (for HIV).

Lab-on-a-chip technology is being explored for other applications by various small to medium sized enterprises mainly in North America, Asia, and Europe. Adoption of lab-on-a-chip has been relatively low across various application areas. Poor reproducibility and inconsistency of results using lab-on-a-chip is hampering growth of the market to some extent. However, advancements in technology have led to development of advanced technologies and assays, which are capable of early and easy detection of pathogenicity and development in drug discovery, which will create rising demand for this technology in future. Rising prevalence of chronic diseases is also propelling revenue growth of the lab-on-a-chip market.

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Scope of Research

Report Details	Outcome
Market size in 2020	USD 5.74 Billion
CAGR (2023–2032)	10.6%
Revenue forecast in 2032	USD 19.23 Billion
Base year for estimation	2020
Historical data	2017–2019
Forecast period	2023–2032
Quantitative units	Revenue in USD Billion and CAGR in % from 2023 to 2032.
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends.
Segments covered	Product type, technology, application, end-use, and region.
Regional scope	North America; Europe; Asia Pacific; Latin America; Middle East & Africa.
Country scope	U.S., Canada, Mexico, Germany, U.K., France, Spain,  BENELUX, Switzerland, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, Rest of MEA.
Key companies profiled	Becton, Dickinson and Company, PerkinElmer, Inc., Bio-Rad Laboratories, Agilent Technologies, Inc., Thermo Fisher Scientific, Siemens Healthcare, Abaxis Inc., Roche Diagnostics, Abbott Laboratories, and Danaher Corporation.
Customization scope	10 hours of free customization and expert consultation.

MAJOR COMPANIES and Competitive Landscape

The global Lab-on-a-chip market is consolidated, with a few small- and medium-sized players accounting for majority revenue share. Established companies are engaged in various research and development activities and initiatives to develop and deploy new and more efficient technologies and solutions in the lab-on-a-chip market. Some prominent players operating in the market are:

• Becton, Dickinson, and Company

• PerkinElmer, Inc.

• Bio-Rad Laboratories

• Agilent Technologies, Inc.

• Thermo Fisher Scientific

• Siemens Healthcare

• Abaxis Inc.

• Roche Diagnostics

• Abbott Laboratories

• Danaher Corporation

Strategic Development

In June 2020, Sengenics launched multi-antigen COVID-19 biochip test, ImmuSAFE. It is a lab-based biochip test, which uses the company’s patented KREX protein folding technology. ImmuSAFE enables the identification of target epitopes, titres, and Ig class/sub-class (IgG, IgA, IgM; IgG1-4) of antibodies produced at various stages of COVID-19 infection, from disease development, initial exposure, and post-recovery to post-vaccination.

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Some Key Highlights From the Report

• In February 2021, researchers at the University of Bristol used 3D printing to speed up development of lab-on-chip diagnostic systems with cost-effective microfluidic channels. This development can put lab-on-a-chip prototyping within the reach of researchers or clinicians with limited resources, where diagnostics can have the greatest impact.

• Microarray is a tool used in laboratories to detect the expression of thousands of genes at the same time. Advancements in technology has propelled adoption of microarrays, and this is resulting in increasing usage of biochips in cancer diagnosis and treatment, and in personalized medicine, which will drive revenue growth of the microarray segment.

• Lab-on-a-chip offers a wide range of opportunities for RNA and DNA sequencing. It is used to integrate an array of DNA probes, which are able to sequence genomes at a thousand time faster rate. All the biomolecular operations done on lab-on-a-chip show great potential for virus and bacteria detection and hold enormous possibilities for immunoassays.

• Lab-on-a-chip market in North America accounted for the largest revenue share in 2020, due to rapid adoption of advanced technologies, increasing research and development activities of lab-on-a-chip, and increased investments by pharmaceutical companies in drug discovery. Moreover, presence of leading firms providing lab-on-a-chip is another factor resulting in robust market growth in the region.

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Emergen Research has segmented the global lab-on-a-chip (LOC) market on the basis of product type, technology, application, end-use, and region:

• Product Type Outlook (Revenue, USD Billion; 2019–2032)

  • Software

  • Reagents & Consumables

  • Instruments

• Technology Outlook (Revenue, USD Billion; 2019–2032)

  • Microarrays

  • Microfluidics

• Application Outlook (Revenue, USD Billion; 2019–2032)

  • Proteomics

  • Genomics

  • Drug Discovery

  • Diagnostics

• End-use Outlook (Revenue, USD Billion; 2019–2032)

  • Diagnostic Labs

  • Hospitals

  • Biotechnology & Pharmaceutical Companies

  • Academic & Research Institutes

• Regional Outlook (Revenue, USD Billion; 2019–2032)

  • North America

    1. U.S.

    2. Canada

    3. Mexico

  • Europe

    1. Germany

    2. U.K.

    3. France

    4. Spain

    5. BENELUX

    6. Switzerland

    7. Rest of Europe

  • Asia Pacific

    1. China

    2. India

    3. Japan

    4. South Korea

    5. Rest of APAC

  • Latin America

    1. Brazil

    2. Rest of LATAM

  • Middle East & Africa

    1. Saudi Arabia

    2. UAE

    3. Israel

    4. Rest Of MEA

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