Lab-on-a-Chip Market Value Projected to Expand by 2029

The global Lab-on-a-Chip (LOC) market is growing at a considerable CAGR of 9.3% during the forecast period. The factors that augment the market growth include the extensive use of lab-on-a-chip devices in the medical industry. Moreover, short response time and low fluid volume consumption in diagnosis, and use in academic and research institutes are the other factors that contribute to the growth of the market. In addition to this, easy portability, advancing fabrication technology, and use for biomarker-based identification and early detection of oral cancer have also fueled the demand for LOC’s. The rise in chronic diseases across the globe has led to the need for new less time-consuming LOC’s. Increasing support from the semiconductor industry in launching innovative circuits for the medical sector is fostering the market growth.

However, the high initial cost of lab-on-a-chip, complex manufacturing, and lack of awareness for the use of LOC’s in the developing and undeveloped countries are some of the constraints which are expected to challenge the growth of the market in the forecast period. The limited technical knowledge and availability of alternative technologies are the factors that restrict the market growth. Conversely, rising demand for new technologies from the global market players which results in faster analysis and response times and an increase in the need for diagnosis are some of the opportunities estimated for the market players. For instance, according to reports of the World Health Organization, around 11 million patients with cancer will be diagnosed each year till 2030. Moreover, in August 2019, scientists at Harvard combined organ-on-a-chip and stem-cell technologies to make a tool for diabetes research and beta-cell transplantation which will help scientists for screening insulin-producing cells before transplanting them into a patient. 

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Lab-on-a-Chip Market Segmentation

By Product Type

·        Reagents & Consumable

·        Instruments

By Application

·        Genomics

·        Proteomics

·        Diagnostics

·        Drug Discovery

By Technology

·        DNA Microarrays

·        Microfluidic Chip

·        Global Lab-on-a-Chip Market By End User

·        Hospitals and Diagnostic Labs

·        Pharmaceutical Companies

·        Individuals

A full Report of Lab-on-a-Chip Market is Available at:  https://www.omrglobal.com/industry-reports/lab-on-a-chip-market

Regional Analysis

North America

·        United States

·        Canada

Europe

·        UK

·        Germany

·        Spain

·        France

·        Italy

·        Rest of Europe

Asia-Pacific

·                  India

·                  China

·                  Japan

·                  South Korea

·                  Rest of APAC

Rest of the World

Company Profiles 

·        1DROP Diagnostics

·        Abbott Laboratories

·        Adhesives Research, Inc.

·        Agilent Technologies, Inc.

·        Axxicon Moulds Eindhoven B.V. 

·        BioFluidix GmbH

·        BioForce Nanosciences, Inc.

·        Bio-Rad Laboratories, Inc.

·        BluSense Diagnostics, Inc.

·        Beckman Coulter, Inc.  (CytoFluidix)

·        Danaher Corp.

·        F. Hoffmann-La Roche AG

·        Fluidigm Corp.

·        Fluxion Biosciences, Inc.

·        Genalyte, Inc.

·        HiComp Microtech (Suzhou) Co. Ltd.

·        IDEX Corp.

·        Illumina, Inc

·        LabSmith, Inc.

·        Micralyne, Inc.

·        PerkinElmer Inc.

·        RheoSense, Inc.

·        Siemens Healthcare GmbH

·        Syrris Ltd.

·        Thermo Fisher Scientific Inc.

·        ZenLeads, Inc.

·        Zepto Life Technology, LLC

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About Orion Market Research 

Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services. The company also offer Digital Marketing services through its subsidiary OMR Digital and Software development and Consulting Services through another subsidiary Encanto Technologies.

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