Lab-on-a-chip Market Share Reach US$ 11,488.6 Million: Regions, Size Estimation Parameters,Industry Outlook 2021 To 2028

Continuous technological developments are expected to drive growth of the global lab-on-a-chip market during the forecast period.

SEATTLE, WASHINGTON, UNITED STATES, November 16, 2021 /EINPresswire.com/ — Continuous technological developments are expected to drive growth of the global lab-on-a-chip market during the forecast period. For instance, in 2015, Engineers at Rutgers University of U.S. developed a novel device based LOC technology, which can significantly reduce the cost related to lab test for disease such as HIV, syphilis, and Lyme disease. LoC device uses microfluidics technology, making the test more affordable for patients and researchers. It also requires less sample fluid than conventional tests.

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Furthermore, in 2018, CN Bio Innovations Limited launched PhysioMimix, a printer-sized device which allows scientists to conduct organ-on-chip studies in their own labs and testing new drugs and chemicals on living human organ models.

The major application of LoC systems is pathogen detection, which include DNA-based methods with electrochemical techniques. Various infectious diseases such as Zika virus, Swine flu, and Ebola virus are the primary cause of death and epidemics that can be diagnosed with the help of LoCs due to the ability of providing diagnosis at real-time. Moreover, according to data published in the International Journal of Bio-Science and Bio-Technology in 2016, researchers suggest that LoC technology can be useful for finding a novel way to treat central nervous system disorders such as Parkinson’s disease and spinal cord injury with the help of extracting sufficient cerebrospinal fluids needed to perform conventional assays, which is expected to facilitate the growth of the lab-on-a-chip market in the near future.

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Key Takeaways

The global lab-on-a-chip market is expected to witness significant growth, registering a CAGR of 10% during the forecast period (2019-2027). This is owing growing technological advancements in the market.

On the basis of application, the diagnostics and drug discovery segment is expected to hold dominant position by 2027 in the market.

Major players operating in the global lab-on-a-chip market include Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, and Bio-Rad laboratories, Abbott Laboratories, Hoffman-La Roche Ag, PerkinElmer, Inc., IDEX Corporation, Thermo Fisher Scientific, Inc., Cepheid Inc. and Biacore AB.

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Source: EIN Presswire