The Lab-On-A-Chip market is mostly influenced by its size and faster completion of clinical translations. Advancement in the technology and technique for diagnosis of pathogen based disease are expected to favor the lab-on-a-chip market. Due to the miniaturization of biochemical operations, better diagnostic speed, cost efficiency, ergonomy, sensitivity and so on can be achieved in lab-on-a-chip device. The biomedical applications of LoC in different fields like in diagnostics, cellomics, in environmental studies to control the effect of pathogens, to check the food quality such as for the detection of various antibiotic families in raw milk favor the growth of lab-on-a-chip market.
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Lab-on-a-chip helps early detection of chronic disease, which in turn also reduces mortality rate. The theranostic application of LoC is also expected to favor the growth of LoC market as the theranostic is an emerging therapeutic paradigm, capable of diagnosis of diseases. Increasing prevalence of cancer is also a driving factor for the lab-on-a-chip market. According to data published in International Journal of Bio-Science and Bio-Technology, 2016, scientists have developed LoC devices for biomarker based identification and early detection of oral cancer.
Increasing adoption of lab-on-a-chip technology in North America is expected to boost the lab-on-a-chip market. The trend of single combined test over the numerous of test for various application favors the lab-on-a-chip market. The innovation carried out by manufacturer’s and researchers acts as a dynamic factor of lab-on-chip market. For instance, in August 2017, researchers in the engineering and chemistry departments of Brigham Young University in Utah developed a 3D printed lab-on-a-chip device to achieve true microfluidic flow.
Increasing incidence of malaria also leads to increasing demand for lab-on-a-chip PCR diagnostic method. Whereas, for the most common and chronic disease, such as Tuberculosis, the World Health Organization (WHO) has endorsed the specific molecular diagnostic technique in year 2010 to result in improvement of fast diagnosis.
Furthermore, Swine Flu, Zika Virus and Ebola virus related diseases, demand for the LoC technology as the LoC can provide diagnosis in real time.
Key features of the study:
This report provides an in-depth analysis of global lab-on-a-chip market provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) for the forecast period (2017 – 2025), considering 2016 as the base year.
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players.
It profiles leading players in the global lab-on-a-chip market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans.
Key companies covered as a part of this study include, Takara Bio Inc., Nobel Biocare Services AG, Bio-Rad Laboratories Inc., PerkinElmer Inc., and Cepheid Inc.
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Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future product launch, technology up-gradation, market expansion, and marketing tactics.
The global lab-on-a-chip market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the lab-on-a-chip market.