The global lab on chip market size was estimated at USD 5.75 billion in 2021 and is expected to hit around USD 15 billion by 2030, growing at a CAGR of 11.24% during the forecast period 2022 to 2030.
The lab on chip devices is nothing but the miniaturization of laboratory procedures and an integration of various disciplines. These devices are used in various branches of the healthcare segments like the drug delivery, synthetic biology, stem cells, environmental monitoring etc an increased use of lab on chips in the chronic diseases is leading to a growth in the market. Little prevalence of expensive health problems and an increase in the geriatric population, the market is expected to grow. The lab on chip device is able to scale down singular, multiple laboratory functions into a chip format where the chip size is approximately millimeters to a few square centimeters.
An increase in the chronic diseases and expanding applications of genomics and proteomics in Cancer Research along with the revenue growth have led to an increase in the chip on lab market. There is an increased demand for personalized medicine, which has further helped in driving the market for lab on a chip. The trend is expected to continue and the revenue shall keep growing for this technology. Due to an increasing prevalence of cancer among many nations the lab on chip market is expected to garner more revenue growth. It helps in detecting pathogens for early diagnosis of oral cancer and also helps in detecting swine flu, malaria, Zika virus and Ebola virus. In countries like North America, Asia and Europe, the lab and ship technology is under exploration for many applications.
Increased investments by various nations in the research and developments have led to a growth in the lab and ship market. Increased investments in personalized medicine life sciences have also created a demand for lab on chips. Various partnerships and collaborations for producing innovative lab ownership solutions are also fueling the growth of the market. With the use of Advanced Technologies, lab and chips are capable of detection of early pathology which will drive the growth of this technology.
Report Scope of the Lab on Chip Market
|Market Size by 2030||USD 15 Billion|
|Growth Rate from 2022 to 2030||
CAGR of 11.24%
|Largest Market||North America|
|Fastest Market||Asia Pacific|
|Forecast Period||2022 to 2030|
|Segments Covered||Product, Technology, Application, End-Use, Geography|
|Companies Mentioned||Micronit, MIMETAS, BEOnChip, Nortis Bio, TisssUse, InSphero, Elvesys, Mesobiotech, AxoSim, Emulate Bio, Tara Biosystems, Hepregen, Hurel Corporation, Cherry Biotech, Alveolix, BiomimiX, BioIVT, 4D Cell, Fluigent|
On the basis of technology, the lab on chip market is segmented into microfluidics and micro arrays. There's an increased application of microfluidics which is responsible for the shift from the conventional laboratory procedures to a lab on chips. In order to manufacture varied consumer products, microfluidics has been used extensively and it is expected to have a great application in many regions or areas. They help in reducing errors in cost management and offer a good return on the investments.
Laboratories use microarray as a tool to detect many genes at the same time due to increased advancements in this technology, the adoption of microarrays is expected to grow during the forecast. Increase of biochips in the treatment and diagnosis of cancer and providing personalized medicine will help in the growth of the microarray segment. The microfluidic lab on Chip has great potential in order to revolutionize the biomedical stream and provide for the growth of the healthcare sector. The microfluidic platform helps in the automation of biochemical assays, favoring the lab on chip device over traditional tests in research laboratories integration miniaturization etc.
The various applications of lab and ship technology in the biomedical field and immunoassay lab on chip for bacteria detection, DNA chip, gene chip, cellular analysis, chip flow, cytometer lab on chip which is used in order to detect HIV. The lab and ship market on the basis of application can be segmented into genomics, proteomics, drug discovery and diagnostics. Good growth opportunity is provided by the Proteomics Lab on chip as it helps to perform protein analysis. It also has a great potential for crystallization of protein, which is an important field that helps in revealing the structures of a protein. Researchers are able to gain greater control and faster ways to cover all the parameters which help in the crystallization of protein with the help of a lab on chip. Lab on chip also helps in RNA and DNA sequencing in the future. These opportunities for sequencing of DNA and RNA are expected to grow during the forecast.
In order to detect the virus and bacteria with the help of a lab on chip which has the biomolecular operations has an enormous possibility and it is expected to grow during the forecast. Lab and ship is able to sequence genomes many times faster for any kind of DNA probes. The advances in the field of computational simulations have also made it possible to produce inorganic nanomaterials. Based on nanomedicine using lab on shift technology the lab on chip devices are also used for biomarker based identification which helps in detecting oral cancer in the early stages and increases the survival rate.
The global lab on ship market had accounted for the largest revenue share through North America. An increased adoption of advanced technologies, research and development and investments by various pharmaceutical companies in this domain has led to a growth in the market. As a great number of leading firms, providing the lab on chip is located in the North American region. It is also expected to contribute to the growth in the revenue of this region.
The Asia Pacific market is also expected to see faster growth for the lab and ship market during the forecast period as there are developments in the healthcare infrastructure and the diseases, like the renal diseases, which are prevalent in this region. Also, the increased cardiovascular diseases and government initiatives in this region are leading to a growth in the market. The increasing geriatric population and the demand for the regenerative medicines is another reason why the market is expected to grow during the forecast.
Key Market Developments
Key Market Players
Segments covered in the lab on a chip market
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