Global Lab-on-a-Chip Device Market Overview
Lab-on-a-Chip Device Market Size was valued at USD 6 Billion in 2023. The Lab-on-a-Chip Device market industry is projected to grow from USD 6.29 Billion in 2024 to USD 11.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.47% during the forecast period (2024 - 2032). A rise in the incidence of both chronic and infectious diseases, as well as an expansion of genomic and proteomic research applications, are all contributing factors in the rise of cancer, are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
In February 2024, Oizom introduced its most recent innovation, the AQBot, a single-parameter air quality monitoring device that is industrial-grade. The compact, lightweight, and feature-rich device provides industries and consultants with a smart monitor for specific and target pollutants. The industrial-grade single-parameter air quality monitor offers plant managers actionable insights for safety in real time and assists in the prompt initiation of prompt action in advanced industrial setups as well as providing trustworthy data. The AQBot is equipped with a quad-core ARM Cortex A-72 processor, which enables it to manage multiple processes simultaneously. It also has 2GB RAM and 8GB eMMC ROM, which enables industries to store air quality data for 12 months in the event of network connectivity disruptions. AQBot is an optimal choice for a diverse array of industries due to its extensive range of applications, including Environment Health and Safety (EHS) monitoring, Indoor Air Monitoring (Industries), Process-control, and Leak Detection. Paper & Pulp Industries, Textile Industries, Leather Industries, Fisheries, Cement Manufacturing Industries, Thermal Power Plants, Food & Beverages Industries, Mining Industries, Wastewater Treatment Plants (WWTP), Meat Processing Plants, and Dairy Industry are among the industries for which AQBot can be a viable comprehensive air quality monitoring system.
EnCharge AI, a semiconductor startup that was established in a Princeton University lab in December 2022, announced on Wednesday that it has raised $21.7 million in order to commercialize its computing technology, which is intended to enhance the efficiency of artificial intelligence applications. According to Naveen Verma, CEO and co-founder of EnCharge AI and a professor of electrical and computer engineering at Princeton, the company's initial offerings will consist of cards that can be effortlessly installed in server cabinets to facilitate the utilization of AI applications by businesses. He did not specify a date for the product's release. EnCharge AI processors operate by directly computing data in the chip's memory, utilizing a unique chip design and software. According to Verma, the traditional method of transferring data in and out of memory produces bottlenecks in computing, which slows down the process as AI models become more diversified and larger. Therefore, more efficient computing is essential.
Lab-on-a-Chip Device Market Trends
- Increase in the prevalence of chronic and infectious diseases is driving the market growth
The market for chips in labs has grown as a result of rising chronic diseases, increased uses of genomics and proteomics in cancer research, and rising revenues. The market for lab on a chip has been further fueled by the rise in demand for personalised treatment. The pattern is anticipated to continue, and this technology's revenue will increase. The market for lab-on-a-chip is anticipated to have increased revenue growth as a result of the rising incidence of cancer in several countries. It aids in the early detection of oral cancer pathogens as well as the detection of swine flu, malaria, the Zika virus, and the Ebola virus. The lab and ship technology is being investigated for numerous applications in nations like North America, Asia, and Europe.
The market for labs and ships has expanded as a result of increased research and development investments by various governments. A need for lab on chips has also been generated by increased investments in personalised medicine and life sciences. The development of the market is also being fueled by several alliances and collaborations for creating cutting-edge lab ownership solutions. The ability of labs and chips to detect early pathology through the application of advanced technologies will propel the development of this technology.
Excellent assay sensitivity, parallelization, ergonomics, waste minimization, and other features are all part of LoC technology. This technology, which facilitates sample handling, delivers correct results quickly, and acts as a market growth driver, is primarily driven by the medical industry for the identification of various disorders. Additionally, the market for lab-on-a-chip will see new opportunities during the forecast period of 2022-2029 due to the growth in small device demand, biosensor and biomarker research, fabrication technology, and economic viability.
Lab-on-a-chip systems are characterised by the interdisciplinary integration of multiple disciplines and the simplification of laboratory procedures. Other areas of healthcare, like as stem cell, medication delivery, synthetic biology, and environmental monitoring, are beginning to use the high level of integration needed to develop LOC devices. Chronic diseases are spreading across the globe. A rapidly increasing  elderly population and changes in societal lifestyle are further factors causing an increase in frequent and expensive long-term health issues. The application of lab-on-a-chip in the detection of infectious diseases and chronic illnesses is one of the other significant factors boosting the market for these devices.
LoC is becoming more and more common in medicine for the diagnosis of many illnesses and infections, including HIV infections and chronic illnesses, as well as in botany. This is expected to advance the market. LoC devices are quite popular due to benefits including simple mobility, automated sample processing, and reconfigurability. LoC devices are perfect for point-of-care diagnostics since they provide quick and accurate results. Thus, driving the Lab-on-a-Chip Device market revenue.
Lab-on-a-Chip Device Market Segment Insights
Lab-on-a-Chip Device Product Insights
The  Lab-on-a-Chip Device market segmentation, based on Product, includes instruments, reagents and consumables. Instruments segment dominated the  market in 2022. The increased use of biochip and bio-array technologies is to blame for this. In addition to the necessary chips, the use of lab-on-a-chip and microarrays in the lab also requires the necessary instrumentation, such as analyzers and support kits. Due to the rise in demand for reagents and consumables, the Reagents and Consumables Segment is anticipated to experience considerable growth in the near future.
Lab-on-a-Chip Device Technology Insights
The  Lab-on-a-Chip Device market segmentation, based on Technology, includes microarrays, microfluidics, tissue biochip, and others. The microfluidics segment dominated the  market in 2022. The transition from traditional laboratory practises to a lab on chips is the result of greater application of microfluidics. Microfluidics has been utilised widely to produce a wide range of consumer goods, and it is anticipated to have a wide range of applications. They provide a good return on investment and aid in lowering cost management errors.
Lab-on-a-Chip Device Application Insights
The  Lab-on-a-Chip Device market segmentation, based on Application, includes genomics, proteomics, point of care diagnostics, drug discovery, and others. Point of care diagnostics segment dominated the  Lab-on-a-Chip Device market in 2022. This is explained by the rise in clinical uses of LOC. It is an automated, miniature laboratory system that is utilised both inside and outside of hospitals for various clinical purposes.
Lab-on-a-Chip Device End User Insights
The  Lab-on-a-Chip Device market segmentation, based on End User, includes hospitals & clinics, biotechnology and pharmaceutical companies, forensic laboratories, diagnostic centers, and academic & research institutes. The hospital & clinics segment dominated the  Lab-on-a-Chip Device market in 2022. The increased use of biochip and bio-array technologies is to blame for this. Numerous biological and other analytical applications make use of LOC devices.
Figure 1 Â Lab-on-a-Chip Device Market, by End User, 2023 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Lab-on-a-Chip Device Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Lab-on-a-Chip Device Market dominated this market in 2022 (45.80%). This is due to the growing use of genetic engineering and molecular biology techniques, as well as the rising incidence of infectious diseases. The development of cutting-edge medical treatment options, rising demand for portable devices, and an increase in the number of genomic and proteomics research labs are additional factors that are likely to support the growth of the Lab-on-a-Chip device market in the North American region. Further, the U.S. Lab-on-a-Chip Device market held the largest market share, and the Canada Lab-on-a-Chip Device market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 Â LAB-ON-A-CHIP DEVICE MARKET SHARE BY REGION 2023 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Lab-on-a-Chip Device market accounted for the healthy market share in 2022. This is a result of important motivating elements such the booming medical device sector, supportive government programmes to boost life sciences and clinical research, and rising per capita income levels. Further, the German Lab-on-a-Chip Device market held the largest market share, and the U.K Lab-on-a-Chip Device market was the fastest growing market in the European region
The Asia Pacific Lab-on-a-Chip Device market is expected to register significant growth from 2023 to 2032. This is because healthcare technology is adapting more quickly, there are more people with chronic and infectious diseases, more government measures to reform healthcare, and more research projects on environmental issues. Moreover, China’s Lab-on-a-Chip Device market held the largest market share and the Indian Lab-on-a-Chip Device market was the fastest growing market in the Asia-Pacific region.
Lab-on-a-Chip Device Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Lab-on-a-Chip Device market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Lab-on-a-Chip Device industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the  Lab-on-a-Chip Device industry to benefit clients and increase the market sector. In recent years, the Lab-on-a-Chip Device industry has offered some of the most significant advantages to medicine. Major players in the Lab-on-a-Chip Device market, including Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB, are attempting to increase market demand by investing in research and development Products.
Transfusion diagnostic products are created and manufactured by Quotient Limited. The business offers transfusion diagnostics, also known as blood grouping and serological disease screening assays. For the MosaiQ Extended Immunohematology (IH) Microarray, Quotient Ltd. received the Conformite Europeenne (CE) Mark in March 2022. The European Medical Devices Directive (EMDD) standards are met by the Extended IH Microarray, according to the CE marking.
Optical genome mapping (OGM) is a genomics service offered by Bionano Genomics, Inc. for genome analysis. The business provides medical professionals that specialise in the treatment of patients with genetic problems, such as paediatric neurodevelopmental disorders, including autism spectrum disorders, with diagnostic services. It promotes and offers for sale the Saphyr system, which provides OGM data to allow for the very accurate and sensitive detection of all types of structural variation. Patients with clinical manifestations that are consistent with autism spectrum disorder and other neurodevelopmental impairments can receive diagnostic testing from its Lineagen division. It provides a platform-neutral software solution through its BioDiscovery business that combines sequencing and microarray data in order to analyse, visualise, interpret, and report copy number variants, single-nucleotide variants, and the absence of heterozygosity across the genome in a single consolidated view. The release of version 6.1 of BioDiscovery's NxClinical software for genome analysis, featuring features for visualisation, interpretation, and reporting of next-generation sequencing data in hereditary illnesses and cancer, was announced by Bionano Genomics Inc. in December 2021.
Key Companies in the Lab-on-a-Chip Device market include
- Becton, Dickinson and Company
- Agilent Technologies Inc.
- Thermo Fisher Scientific Inc.
Lab-on-a-Chip Device Industry Developments
November 2021Â An investment of USD 1.8 million was made public by Parallel Fluidics to make microfluidic development more accessible.
In April 2021Â The proprietary COVID-19 multiplexed viral diagnostic test, DetectX-Rv, has received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA), according to PathogenDx Inc.
Lab-on-a-Chip Device Market Segmentation
Lab-on-a-Chip Device Product Outlook
Lab-on-a-Chip Device Technology Outlook
Lab-on-a-Chip Device Application Outlook
Lab-on-a-Chip Device End User Outlook
- Biotechnology and Pharmaceutical Companies
- Academic & Research Institutes
Lab-on-a-Chip Device Regional Outlook
Lab-on-a-Chip Device Report Scope
| Report Attribute/Metric |
Details |
| Market Size 2023 |
USD 6 Billion |
| Market Size 2024 |
USD 6.29 Billion |
| Market Size 2032 |
USD 11.2 Billion |
| Compound Annual Growth Rate (CAGR) |
7.47% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Product, Technology, Application, End User, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB |
| Key Market Opportunities |
Improved preference for automated lab-on-a-chip practices |
| Key Market Dynamics |
Increase in the prevalence of chronic and infectious diseases and expanding applications of genomics and proteomics in cancer research |
Lab-on-a-Chip Device Market Highlights:
Frequently Asked Questions (FAQ) :
The Lab-on-a-Chip Device market size was valued at USD 6 Billion in 2023.
The market is projected to grow at a CAGR of 7.47% during the forecast period, 2024-2032.
North America had the largest share in the market
The key players in the market are Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad Laboratories, Abbott Laboratories, Hoffmann-La, Roche AG, PerkinElmer Inc., IDEX Corporation, Thermo Fisher Scientific Inc., Cepheid Inc., and Biacore AB
The Instruments Product dominated the market in 2022.
The Microfluidics Technology had the largest share in the market.
