Global Lab on Chips Market Set to Witness Strong Growth at a CAGR of 10.7% during Forecast 2017 – 2024

Published on : Apr 26, 2018

Albany, New York, April 26, 2018: A new research, highlighting the market dynamics for lab on chips market has been broadcasted to the wide repository of Market Research Hub (MRH), with the title of “Lab on Chips Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2024”. This 185-page study provides comprehensive analysis on the market current scenario as well as future growth prospects until the end of 2026. For a clear understanding, the research majorly focuses on some prime regions such as Europe, North America, Asia Pacific, Latin America and Middle East & Africa. According to the findings, the global lab on chips market is exhibiting a steady growth, which is expected to remain constant in the coming years as well.

Prime Insights from the Study

A lab-on-a-chip is a miniaturized device that assimilates onto a single chip one or several analyses, which are usually done in a laboratory; analyses such as DNA sequencing or biochemical detection. Due to the recent advancements in materials, and in nanofabrication techniques have allowed the development of a various type of lab on chip devices. With the help of lab on chip devices, several physicians are opting for point-of-care solutions for the detection, diagnosis and monitoring of diseases, and in such cases, there is no need to send the samples to the central laboratory. Considering these factors, the analyst has found that the market will reach a valuation of US$ 8,753.7 Mn in 2024 end, displaying a CAGR of 10.7% during the forecast period 2017-2024. Also, the global lab on chips market was valued at US$ 4,289.6 Mn in 2017

For the benefit of the readers, the report majorly covers different sections on market definition, market dynamics including the key drivers, restraints and trends that are governing the market. It has been analyzed that novel technologies developed in the form of the lab on chip devices are anticipated to produce low-cost solutions for diagnostics and for the monitoring of infectious diseases such as HIV and also blood-related disorders, especially in developing countries where healthcare facilities are disturbed.

In terms of geography, the research reveals that North America is anticipated to dominate the global lab on chips market during the period of assessment. Moreover, the research has been segmented on the basis of product, by applications and by end user. On the basis of product type microfluidics products are classified as instruments, reagents & consumables, software & services. By applications, the lab on chips market is classified as genomics & proteomics, diagnostics, drug discovery and others.

In the end, the report also detailed the business and product strategy of some of the leading players in the market. The financial performance of the companies has been included and a detailed analysis has been offered to readers. Some of the main players functioning in the global lab on chips market include Bio-Rad Laboratories, Danaher Corporation, Abbott Laboratories, Thermo Fisher Scientific, Dickinson and Company, F. Hoffmann-La Roche AG, Becton, PerkinElmer, Inc. and Agilent Technologies, Inc.

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