Lab-on-chips is an integrated miniaturized device used in the laboratory operations on a single micro-process chip in small scale. Lab-on-chip is also called as micro-total analytical system. Complex tests can be performed on a single chip by combining microfluidics and microelectronics using Lab-on-chips. Lab-on-chip has its main application in biotechnological and medical applications such as medical diagnostics, chemical synthesis and the study of complex cellular process, thus providing quick diagnosis.
Lab Chip devices are influencing the Laboratory Testing market where trace samples are to be analysed in the field if medical examination. Being handy, portable, and easy to use these devices are extensively used in hospitals and various surgical centres as well, thus promising the growth of global Lab Chip Devices Market in the near future.
Diagnostics will hold the largest segment globally, because of the growing demand for diagnostics with high speed, efficiency, and sensitivity of results with accuracy. Diagnostics segment is expected to expand at the highest CAGR of 11.3% over the period from 2018 to 2026. Day by day increasing global population is continuously increasing the number of patients with diseases and thus the demand for microfluidic systems for diagnosis, treatment, and monitoring of these diseases. The Lab on chips contributes to the rise in personalized medicine, drug discovery and life science research, and growing need for high speed diagnostics. These factors will lead the diagnostics segment across different regions of the world.
North America has the highest revenue share in 2017 due to more demand for microfluidic products in the pharma, diagnostic, and clinical sectors for its cost-effectiveness and multi functionality. In North America, market players are developing advanced microfluidic products continuously. The U.K. holds highest share in Europe market with a significant growth. Whereas in APAC, the demand is mainly concentrated in China and India, due to the increasing population and popularity of conventional biological laboratories.
Some of the key players in the global lab-on-chips application market are EMD Millipore, Life Technologies Corporation, Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Bio-Rad Laboratories.
Based on application:
· Clinical Diagnostics
· In vitro Diagnostics
· Point of Care Diagnostics
· Drug Discovery
· Others (Biodefense, Food Pathogen Identification, and Environmental Contamination)
Based on the end user type:
· Biotechnology and Pharmaceutical Companies
· Forensic Laboratories
· Diagnostics Centers
· Academic & Research Institutes