Lab-on-a-chip (LOC) Market Size Worth USD 12.85 Billion in 2028

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The global lab-on-a-chip (LOC) market size is expected to reach USD 12.85 Billion at a steady CAGR of 10.6% in 2028, according to latest analysis by Emergen Research. Lab-on-a-chip market revenue growth is being steadily driven by increase in demand for point of care testing, rising prevalence of chronic diseases, and growing application of genomics and proteomics in cancer research. Proteomics is widely adopted for drug discoveries and biomarker. Rise in demand for personalized medicines is further driving Lab-on-a-chip market revenue growth, and the trend is expected to continue going ahead.

Key players in the market include Becton, Dickinson and Company, PerkinElmer, Inc., Bio-Rad Laboratories, Agilent Technologies, Inc., Thermo Fisher Scientific, Siemens Healthcare, Abaxis Inc., Roche Diagnostics, Abbott Laboratories, and Danaher Corporation.

Lab-on-a-chip-based devices are the integration of several disciplines and miniaturization of laboratory procedures. These devices are branching out into additional aspects of healthcare such as stem cell, drug delivery, synthetic biology, and environmental monitoring owing to high level of integration required to develop LOC devices. Chronic diseases are on the rise globally. Rapidly increasing global geriatric population and changes in societal behavior are other factors leading to a steady increase in common and expensive long-term health problems. Adoption of lab-on-a-chip in the diagnosis of chronic diseases and infections are other major factors driving growth of the lab-on-a-chip market.

To get leading market solutions, visit the link below: https://www.emergenresearch.com/industry-report/lab-on-a-chip-market

The global lab-on-a-chip market is gaining traction due to increased investment in research & development in pharmaceuticals, life sciences, and personalized medicine. Furthermore, several microfluidic device companies are entering into partnerships or collaborations to develop more innovative lab-on-a-chip applications, which is fueling growth of the market. Advancements in technology and research in miniaturization of LOC will further drive market growth in future.

Application of microfluidics has made it possible to shift conventional laboratory procedures to lab-on-a-chip. Microfluidics aims to reduce mistakes in cost management and offer good return on investment. Microfluidics has been used extensively in the manufacturing of a wide variety of consumer products.

In proteomics, lab-on-a-chip offers the opportunity to perform protein analysis. Proteomics also show great potential for protein crystallization, which is an important field that reveals 3D structures of a protein. Application of lab-on-a-chip can help researchers simultaneously control all possible parameters in the fastest way, which enables crystallization of a protein.

Key players in the market include Becton, Dickinson and Company, PerkinElmer, Inc., Bio-Rad Laboratories, Agilent Technologies, Inc., Thermo Fisher Scientific, Siemens Healthcare, Abaxis Inc., Roche Diagnostics, Abbott Laboratories, and Danaher Corporation.

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