Lab-on-a-Chip (LOC) Market Insights, Size, Trends & Growth Forecast To 2031

Market Segmentation

Our in-depth analysis of the global lab-on-a-chip (LOC) market includes the following segments:

By Product Type

Software
Reagents & Consumables
Instruments

By Technology

Microarrays
Microfluidics

By Application

Proteomics
Genomics
Drug Discovery
Diagnostics

Growth Drivers

Growing Prevalence of Chronic Diseases
Rising Demand for Point of Care Testing Globally

Challenges

Inconsistency and Poor Reproducibility of Results Using LOC

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Global Lab-on-a-Chip (LOC) Market Regional Synopsis

Regionally, the global lab-on-a-chip (LOC) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing occurrence of cardiovascular and renal diseases, and rising developments in healthcare infrastructure in the region. More than 20 million people aged 65 years or older in China suffered from kidney damage, and about 14 million from decreased renal function in the year 2019.

Moreover, the market in North America is projected to occupy the largest share during the forecast period ascribing to the escalating investments for drug discovery by pharmaceutical companies in the region. In addition, rapid adoption of advanced medical technologies is also expected to fuel the market growth in the region in the coming years.

The global lab-on-a-chip (LOC) market is further classified on the basis of region as follows:

North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

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Top Featured Companies Dominating the Market

Siemens AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
PerkinElmer, Inc.
Becton, Dickinson, and Company
Agilent Technologies, Inc.
Abaxis Inc.
Danaher Corporation
F. Hoffmann-La Roche AG
Fluidigm Corporation
Thermo Fisher Scientific, Inc.
Abbott Laboratories

In The News

April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the lab-on-a-chip (LOC) market?

Ans: The major factors driving market growth are growing prevalence of chronic diseases, and rising demand for point of care testing globally.

2) What would be the CAGR of lab-on-a-chip (LOC) market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~14% over the forecast period, i.e., 2022-2031.

5) Who are the major players dominating the lab-on-a-chip (LOC) market?

Ans: The major players in the market are Siemens AG, PerkinElmer, Inc., Becton, Dickinson, and Company, Agilent Technologies, Inc., Abaxis Inc., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the lab-on-a-chip (LOC) market?

Ans: The market is segmented by product type, technology, application, and by region.

8) Which segment captures the largest market size in the application segment in the lab-on-a-chip (LOC) market?

Ans: The genomics segment is anticipated to hold largest market size in value and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.

8) What are the challenges affecting the market growth?

Ans: Inconsistency of results and poor reproducibility of results using LOC are estimated to hamper the market growth.

8) Which region will provide more business opportunities for growth of lab-on-a-chip (LOC) market in future?

Ans: Asia Pacific will provide more business opportunities for market growth owing to the growing occurrence of cardiovascular and renal diseases, and rising developments in healthcare infrastructure in the region.

Lab-on-a-Chip (LOC) Market