Lab on a chip and Microarrays Market Market Size
Global Lab on a chip and Microarrays was valued at 14.8 billion in 2021 at a CAGR of 19.1%.
A biochip is a device that combines one or more laboratory operations into a single chip, allowing for high-throughput screening & automation. Nanotechnology advancements had led to the increment of lab-on-a-chip technologies. In a few millimeters to a few squares’ centimeter sized device, lab-on-a-chip can incorporate multiple laboratory functions. A biochip device is used to conduct studies on a small scale, allowing for high-throughput automation & screening. Protein arrays dominated the overall marketplace due to their widespread use in proteomics to better understand the human proteomics, drug discovery, diagnostics, and personalized medicine.
Market Highlights
Global Lab on a chip and Microarrays market is expected to project a notable CAGR of 19.1% in 2031.
Global Lab on a chip and Microarrays was valued at 14.8 billion in 2021 at a CAGR of 19.1%. The growing demands for point-of-care testing, increasing prevalence of chronic diseases, and expanding application of genomics and proteomics in cancer research are the primary factors driving the overall market.
Global Lab on a chip and Microarrays Market: Segments
Lab-on-a-chip segment to grow with the highest CAGR during 2021-31
The Lab-on-a-chip & Microarrays (Biochip) Industry is Fragmented into Types as Lab-On-A-Chip and Microarrays. Due to the growing worldwide population and technological improvements, lab-on-a-chip segment is predicted to grow at a healthy rate. Personalized medicine is becoming more popular, and lab-on-chip technology is becoming more widely available, which will increase demand for it around the world. Through micro fluidic chips, which can handle minute sample volumes, the lab-on-a-chip concept aims to miniaturize laboratory techniques to allow automated and parallelization. These gadgets save a huge amount of time, chemicals are examined as samples right where they're made. Furthermore, the industry has seen frequent advancements in immunoassays based on lab-on-a-chip (LOC) platforms.
DNA microarrays segment to grow with the highest CAGR during 2021-31
DNA Microarrays, Micro fluidics, Tissue Biochip and Others are the several types of lab-on-a-chip. During the forecast period, the DNA microarrays technique type is expected to lead the worldwide lab on a chip market. Furthermore, the growth in the numbers of people with cancer is driving up market demand. Protein arrays dominated the overall marketplace due to their widespread use in proteomics to better understand the human proteomics, drug discovery, diagnostics, and personalized medicine. Due to the increased demand for tailored medications, target therapies, and cancer research and development, DNA microarrays are expected to grow at the highest rate.
Market Dynamics
Drivers
Increased use of biochips in proteomics
Biochips are becoming more and more popular in biomedical & biotechnological research. The use of biochips in proteomic, such as microarrays, has increased as technology has advanced. Protein biochips have several advantages, including reduced sample consumption and a proclivity for downsizing. Microarray features are crucial for proteome-wide investigation. Proteomics is rapidly being employed in the development of biomarkers and medicines. Furthermore, there is an increase in demand for personalized medicine, which is adding to the market's growth.
Rising developments in simulation studies
Some of the application areas of LoC advanced technologies in the biomedicine include immunoassay LoC for microbe’s detection, real-time PCR sensing chips, DNA chip, genotype chip, cellular analyses chip, as well as cytometry LoC (for HIV), as the Line-On-A-Chip method result in less energy usage and faster synthesis of the outcomes, paving the way for quicker clinical translation and aiding the growth of the lab-on-a-chip market. Recent developments in simulation studies have made it possible to synthesis inorganic nanoparticles for Nano biotechnology in a single construct utilizing LOC technologies, which is excellent for theragnostic applications.
Restraint
High deployment Cost
The initial increased buying rate and lack of understanding concerning the use of lab-on-a-chip(LOC) and microarrays gadgets in middle-income nations are two major constraining factors that are limiting the lab-on-a-chip market's growth.
Global Lab on a chip and Microarrays Market:
Key Players
- Becton,
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
- Agilent Technologies Inc.,
- Danaher Corporation,
- Bio-Rad laboratories,
- Abbott Laboratories,
- Hoffmann-La Roche Ag,
- PerkinElmer, Inc.,
- IDEX Corporation,
- Thermo Fisher Scientific, Inc.,
- Cepheid Inc.
- Other Prominent Players
Global Lab on a chip and Microarrays Market: Regions
Global Lab on a chip and Microarrays market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. The global lab-on-a-chip industry is dominated by North America. The number of TV & salmonella cases is on the rise, as per the Center of Disease Control and Prevention. As a result, North America's lab-on-a-chip business has expanded to be the largest market region.
Impact of Covid-19 on Lab on a chip and Microarrays Market
The COVID-19 pandemic has had a significant influence on the global economy. As the virus spread across different nations, many businesses were forced to close and thousands of people quit their jobs. The virus predominantly affected small businesses, but it had an impact on large firms as well. The sudden emergence of the COVID-19 outbreak prompted the establishment of strict lockdown laws in some countries, causing delays in the import and export of Lab-on-a-chip & Microarrays (BIOCHIP).
Global Lab on a chip and Microarrays is further segmented by region into:
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Lab on a chip and Microarrays Market report also contains analysis on:
Lab on a chip and Microarrays Market Segments:
- By Type
- Lab-On-A-Chip
- Microarrays
- By Technology
- DNA Microarrays
- Microfluidics
- Tissue Biochip
- Others
- By Application
- Clinical Diagnostics
- Drug Discovery
- Genomics and Proteomics
- Other Applications
- Lab on a chip and Microarrays Market Dynamics
- Lab on a chip and Microarrays Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Lab on a chip and Microarrays Report Scope and Segmentation
|
Report Attribute |
Details |
|
Market size value in 2021 |
14.8 billion |
|
Revenue forecast in 2031 |
85.1 billion |
|
Growth Rate |
CAGR of 19.1% from 2021 to 2031 |
|
Base year for estimation |
2020 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Type, Technology, Application, and Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
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., and Other Prominent Players. |
Frequently Asked Questions (FAQ):
Global Lab on a chip and Microarrays was valued at 14.8 billion in 2021 at a CAGR of 19.1%.
A biochip is a device that combines one or more laboratory operations into a single chip, allowing for high-throughput screening & automation. Nanotechnology advancements had led to the increment of lab-on-a-chip technologies.
Lab-On-A-Chip and DNA Microarrays accounted for the largest Lab on a chip and Microarrays market share.
Key players: Becton, Dickinson and Company, Agilent Technologies Inc., Danaher Corporation, Bio-Rad laboratories, Abbott Laboratories, Hoffman-La Roche Ag, PerkinElmer, Inc., IDEX Corporation, Thermo Fisher Scientific, Inc., Cepheid Inc. and Biacore AB.
The market is being driven by the Increased use of biochips in proteomics and Rising developments in simulation studies
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