Alexa
  • Directory of Taiwan

Global Lab-On-A-Chip (LOC) Market Report 2021: Share, Size, Trends, Industry Analysis & Forecasts to 2030

  131

The global lab-on-a-chip market size was US$ 5.12 billion in 2019. The global lab-on-a-chip (LOC) market size is forecast to reach the value of US$ 15.25 billion by 2030 by growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2021-2030. 

Request for A Sample Report: https://reportocean.com/industry-verticals/sample-request?report_id=Pol76

A lab-on-a-chip (LOC) device integrates multiple laboratory functions on a miniaturized single integrated circuit. Lab-on-chips applications are widely used in diagnostics and microfluidic chip-based technology.

COVID-19 Impact Analysis

The COVID-19 pandemic influenced the demand for lab-on-a-chip devices. The miniaturized device is used to develop time-saving diagnostic kits. As the demand for time-saving kits and other materials grew during the pandemic, the market witnessed considerable growth.

Lab-on-a-chip techniques are employed in pharmaceutical R&D. The global lab-on-a-chip market grew as the innovations grew in the market. Veredus Laboratories introduced a portable lab-on-a-chip diagnostic tool to detect 2019-nCoV, SARS_CoV, and MERS-CoV.

Factors Influencing

  • The global lab-on-chip market has become widely popular due to the COVID-19 pandemic. As a result of its favorable advantages, the market is forecast to grow rapidly.
  • Increasing investment and government initiatives in R&D for pharmaceuticals may fuel the growth of the global lab-on-a-chip (LOC) market in the coming years.
  • The demand for high-speed diagnostics along with the growing innovations of microfluidic devices may become another factor for the surge in market growth. Several microfluidic device companies have inked partnerships to introduce innovative lab-on-a-chip diagnostics. Thus, the advancements in the field would create notable opportunities for the market players.
  • LOC technology helps detect oral cancer. Moreover, the technology successfully detects the virus at an early stage. Therefore, the adoption of these devices is forecast to increase in the coming years.
  • Growing demand for diagnostics may create profitable opportunities for the market players in the global lab-on-a-chip (LOC) market.
  • High initial costs and lack of awareness regarding lab-on-chip devices may hamper the market growth during the forecast timeframe.

Geographic Overview

Regionally, North America contributes the highest revenue in the global lab-on-chip (LOC) market. The increasing requirement for microfluidic products, mainly in the diagnostic, pharmaceutical, and clinical sectors, is the primary factor driving the regional growth in the global lab-on-a-chip market. Moreover, North America is home to various prominent players working on introducing microfluidic products. Thus, the market would grow efficiently.

The Asia-Pacific region is forecast to contribute significantly to the global lab-on-a-chip market. It is due to the growing population and growing demand for advanced technologies. In addition, government initiatives in the healthcare sector are forecast to influence the growth of the LOC market in this region.

Competitors in the Market

  • Becton
  • Dickinson and Company
  • Agilent Technologies Inc.
  • PerkinElmer Inc.
  • Danaher Corporation
  • Bio-Rad Laboratories
  • Thermo Fisher Scientific
  • Abbott Laboratories
  • Roche Diagnostics
  • Siemens Healthcare
  • Bio-Rad Laboratories
  • Abaxis Inc.
  • Achira Labs
  • Advanced Liquid Logic
  • Advanced Microlabs
  • Other prominent players

Market Segmentation

By product type

  • Instruments
  • Reagents and consumables
  • Software and services

By application:

  • Genomics and proteomics
  • Diagnostics
  • Drug Discovery

By end-user:

  • Hospitals
  • Academic and Research Institute
  • Diagnostic labs
  • Homecare settings

By Region

  • North America
    • The U.S.
    • Canada
    • Mexico
  • Europe
    • Western Europe
      • The UK
      • Germany
      • France
      • Italy
      • Spain
      • Rest of Western Europe
    • Eastern Europe
      • Poland
      • Russia
      • Rest of Eastern Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia & New Zealand
    • ASEAN
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Argentina
    • Rest of South America

Download Free Sample Copy of ‘Lab-On-A-Chip (LOC) Market@ https://reportocean.com/industry-verticals/sample-request?report_id=Pol76

About Report Ocean:

We are the best market research reports provider in the industry. Report Ocean believe in providing the quality reports to clients to meet the top line and bottom line goals which will boost your market share in today’s competitive environment. Report Ocean is “one-stop solution” for individuals, organizations, and industries that are looking for innovative market research reports.

Get in Touch with Us:

Report Ocean

Name: Nishi Sharma

Email: sales@reportocean.com

Address: 500 N Michigan Ave, Suite 600, Chicago, IIIinois 60611 – UNITED STATES

Tel: +1 888 212 3539 (US – TOLL FREE)

Website: https://www.reportocean.com/


Updated : 2022-05-19 21:15 GMT+08:00