Increasing prevalence of cancer and advancements in technology are key factors expected to continue to drive revenue growth of the lab-on-a-chip market going ahead
The global lab-on-a-chip (LOC) market size is expected to reach USD 12.85 Billion at a steady CAGR of 10.6% in 2028, according to latest analysis by Emergen Research. Lab-on-a-chip market revenue growth is being steadily driven by increase in demand for point of care testing, rising prevalence of chronic diseases, and growing application of genomics and proteomics in cancer research. Proteomics is widely adopted for drug discoveries and biomarker. Rise in demand for personalized medicines is further driving Lab-on-a-chip market revenue growth, and the trend is expected to continue going ahead.
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Some Key Highlights From the Report
- Lab-on-a-chip market revenue in Asia Pacific is expected to register fastest growth rate during the forecast period owing to surge in development of healthcare infrastructure, high prevalence of diseases such as renal diseases and cardiovascular diseases, and growth of the R&D facilities. In addition, rapidly increasing global geriatric population and rising demand for regenerative medicines are key factors driving growth of the market in the region.
- Key players in the market include Becton, Dickinson and Company, PerkinElmer, Inc., Bio-Rad Laboratories, Agilent Technologies, Inc., Thermo Fisher Scientific, Siemens Healthcare, Abaxis Inc., Roche Diagnostics, Abbott Laboratories, and Danaher Corporation.
The report provides an extensive forecast of the industry and its significant growth in the forecast years. The report provides important information regarding the sales volume, revenue forecast, market size, market share, and current and emerging market trends. Along with this, the report covers SWOT analysis, Porter’s Five Forces analysis, Feasibility analysis, and investment return analysis.
Emergen Research has segmented the global lab-on-a-chip (LOC) market on the basis of product type, technology, application, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Reagents & Consumables
- Technology Outlook (Revenue, USD Billion; 2018–2028)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Drug Discovery
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Diagnostic Labs
- Biotechnology & Pharmaceutical Companies
- Academic & Research Institutes
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The comprehensive report addresses the following questions:
Which region is expected to dominate the market over the coming years?
Which application or end-user segment is anticipated to show significant growth over the projected timeline?
What is the impact of the COVID-19 pandemic on the overall market growth?
What are the macro- and micro-economic factors influencing the growth of the market?
What are the recent R&D and technological advancements in the lab-on-a-chip (LOC) market?
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
- Saudi Arabia
- Rest Of MEA
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