LAB-ON-A-CHIP AND MICROARRAYS (BIOCHIP) MARKET ANALYSIS

The global lab-on-a-chip and microarrays (biochip) market was valued at US$ 15,268.0 Mn in 2022 and is forecast to reach a value of US$ 41,690.9 Mn by 2030 at a CAGR of 13.43% between 2023 and 2030. The lab-on-a-chip and microarrays (biochip) market is experiencing strong growth due to the increasing incidence of chronic diseases and rise in demand for point-of-care testing across the world. Moreover, rise in application of proteomics and genomics in cancer research and rise in demand for microfluidics materials is expected to boost the growth of the market. However, factors such as availability of alternative technologies and design constraints of lab-on-chip technology is expected to hamper growth of the market.

Global Lab-on-a-chip and Microarrays (Biochip) Market: Regional Insights

Based on geography, the global lab-on-a-chip and microarrays (biochip) market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period owing to the increasing incidence of chronic diseases, increasing application of proteomics and genomics, and robust healthcare infrastructure in the region. For instance, according to the US Centers for Disease Control and Prevention (CDC), chronic diseases such as heart disease, cancer, and diabetes are the leading causes of death and disability in the United States. Such a high number of people living with chronic disease in the U.S. has increased the use of proteomics and genomics, contributing to the growth of the market in the region.

Europe and Asia Pacific are also expected to witness robust growth in the global lab-on-a-chip and microarrays (biochip) market due to the rise in burden of chronic diseases, increasing demand for point-of-care (POC) testing, increasing application of proteomics and genomics in cancer research, and increasing adoption of personalized medicines in these regions. For instance, according to the cancer report by Indian Council of Medical Research (ICMR), India’s cancer cases could increase by 12% in the next five years (2020-25), with over 1.5 million people expected to suffer from non-communicable disease by 2025, up from 1.39 million in 2020.

Figure 1. Global Lab-on-a-chip and Microarrays (Biochip) Market Share (%), by Region, 2023

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Global Lab-on-a-chip and Microarrays (Biochip) Market Drivers:

Rise in burden of chronic diseases to drive market growth

One of the key factors expected to augment the growth of the global lab-on-a-chip and microarrays (biochip) market over the forecast period is the increasing incidence of chronic diseases across the world. Chronic diseases, such as heart disease, cancer, diabetes and chronic respiratory disease, are the leading cause of death worldwide, an emerging global health threat. According to the World Health Organization (WHO), cardiovascular diseases account for most NCD (noncommunicable diseases) deaths, or about 17.9 million people annually, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million).

Rise in demand for point-of-care testing to propel market growth

Another factor which is driving the growth of the global lab-on-a-chip and microarrays (biochip) market is the increasing demand for point-of-care testing. For instance, point of Care (POC) testing has the potential to deliver rapid test results in close proximity to the patient. POC can translate to faster therapeutic intervention, reduced preanalytical errors, and improved patient care. According to article published in January 2021 by the journal Frontiers of Bioengineering and Biotechnology, Lateral Flow Assays (LFAs) were widely being used in POC testing and can be used for diagnosis and prognosis of diseases like cancer by identifying specific biomarkers.

Global Lab-on-a-chip and Microarrays (Biochip) Market Opportunities:

Rise in application of proteomics and genomics in cancer research is expected to offer significant growth opportunities for players in the global lab-on-a-chip and microarrays (biochip) market. For instance, according to world Health Organization (WHO), cancer is a leading cause of death across the world, accounting for nearly ten million deaths in 2020, or nearly one in six deaths. The most common cancers are breast, lung, colon and rectum and prostate cancers. Biochips are increasingly being used in the development of personalized and targeted drugs to treat various cancer. With the technological advancements, there has been a rise in the adoption of biochips in proteomics.

Rise in demand for microfluidics and technological advances in microfluidics materials worldwide is expected to offer lucrative growth opportunities for players in the lab-on-a-chip and microarrays (biochip) market. For instance, the need for microfluidics to identify cardiovascular diseases is rise in due to the effectiveness of microfluidics devices in multiplexing the capture of several cardiac biomarkers at clinically significant concentrations. According to WHO, cardiovascular diseases (CVDs) are the leading cause of death worldwide, taking an estimated 17.9 million lives each year. Around 4 out of 5 CVD deaths are due to heart attacks and strokes.

Global Lab-on-a-chip and Microarrays (Biochip) Market Trends:

Technological advancements is a recent trend

In developing countries, a lab-on-a-chip could enable healthcare providers to open up diagnosis to a wider population and provide appropriate treatment to those who really need it, without the use of rare and expensive drugs. Moreover, players in the market as well as several governments across the globe are increasingly investing more in lab-on-a-chip, as this technology is expected to change the people's daily lives over the forecast period. This trend is expected to continue over the forecast period, driving the growth of the market.

Rise in demand for biochips and bio-arrays is another trend

The demand for biochip and bio-array techniques is increasing or has increased due to the need to shorten turnaround times and miniaturize biological/clinical tests used for research and diagnosis. The biochip (microarrays) allows tests to be performed simultaneously, achieving high throughput and speed. Furthermore, technological advancements associated with these techniques and a broad product line-up is expected to augment the market growth. This trend is also expected to continue during the forecast period, driving the growth of the market.

Global Lab-on-a-chip and Microarrays (Biochip) Market Restraints:

Availability of alternative technologies to hinder market growth

One of the key factors expected to hamper the growth of the global lab-on-a-chip and microarrays (biochip) market is the availability of alternative technologies. Although lab-on-a-chip (LOC) and microarrays (biochip) technology has its own advantages, such as being economical and less labor-intensive, the availability of alternative technologies and their benefits over biochip and bio-array techniques are restraining the growth of the market. The availability of alternative technologies is expected to hamper the growth of the market.

Design constraints to hamper the market growth

Another factor which is hampering growth of the global lab-on-a-chip and microarrays (biochip) market is the design constraints of lab-on-chip technology. Lab-on-a-chip (biochip) is a device that can scale single or multiple laboratory functions down to chip format. High throughput screening and automation also became possible by the introduction of the biochip and bio-array technology. However, complex design of the LOC technology or design constraints of lab-on-chip technology continues to restrain the growth of the market.

Figure 2. Global Lab-on-a-chip and Microarrays (Biochip) Market Share (%), by Type, 2023

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Global Lab-on-a-chip and Microarrays (Biochip) Market Segmentation:

The global lab-on-a-chip and microarrays (biochip) market report is segmented into Type, Product, Application, End User, and Geography.

Based on Type, the market is segmented into Lab-on-a-chip and Microarray. Out of which, Lab-on-a-chip Segment is expected to dominate the lab-on-a-chip and microarrays (biochip) market over the forecast period and this is attributed to the increasing applications of LOC. Lab-on-a-chip  concept targets miniaturizing laboratory procedures to allow automation and parallelization, which are capable of handling minute sample volumes.

Based on Product, the market is segmented into Instruments, Reagents and Consumables, and Software and Services. Out of which, Instruments Segment is expected to dominate the market over the forecast period and this is attributed to the rise in use of biochip and bio-array technology. Using lab-on-a-chip and microarrays in the laboratory requires not only the required chips but also the relevant instrumentation, such as analyzers and support kits.

Reagents and Consumables Segment is also expected to witness significant growth in the near future and this is owing to the increase in demand for reagents and consumables.

Based on Application, the market is segmented into Clinical Diagnostics, Drug Discovery, Genomics and Proteomics, and Other Application. Out of which, Clinical Diagnostics Segment is expected to dominate the market over the forecast period and this is attributed to the increase in clinical applications of LOC. It is an automated miniaturized laboratory system used for different clinical applications inside and outside the hospital.

Drug Discovery Segment is also expected to witness significant growth in the near future and this is due to the increase in drug development. Due to the new products and applications, microarrays have gained increasing attention in shaping the future of drug development and diagnostics.

Based on End User, the market is segmented into Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostics Centers, and Academic and Research Institutes. Out of which, Biotechnology and Pharmaceutical Companies Segment is expected to dominate the market over the forecast period and this is attributed to the rise in use of biochip and bio-array technology. LOC devices are used as a part of a wide range of biomedical and other analytical applications

Academic and Research Institutes Segment is also expected to witness significant growth in the near future and this is owing to the increase in research and development.

Global Lab-on-a-chip and Microarrays (Biochip) Market: Key Developments

In March 2022, Quotient Ltd. received Conformite Europeenne (CE) Mark for MosaiQ Extended Immunohematology (IH) Microarray. The CE marking confirms that the Extended IH Microarray meets the European Medical Devices Directive (EMDD) requirements.

In December 2021, Bionano Genomics Inc. announced the launch of version 6.1 of BioDiscovery’s NxClinical software for genome analysis with capabilities for visualization, interpretation, and reporting of next-generation sequencing data in genetic diseases and cancer.

In November 2021, Parallel Fluidics announced USD 1.8 million in funding to lower the barrier to entry for microfluidic development. The company is aimed at building a platform that will lower the barrier of entry to microfluidic development by providing rapid device prototypes and solutions to these shared engineering problems and aid scientists innovate faster and improve the chances that their products will make the jump from lab to market.

In April 2021, PathogenDx Inc. revealed that the U.S. Food and Drug Administration (FDA) issued an Emergency Use Authorization (EUA) for its patented COVID-19 multiplexed viral diagnostic assay, DetectX-Rv. DetectX-Rv is an RT-PCR and DNA microarray hybridization test intended for the qualitative detection of nucleic acids from SARS-CoV-2 swabs.

Global Lab-on-a-chip and Microarrays (Biochip) Market: Key Companies Insights

The global lab-on-a-chip and microarrays (biochip) market is highly competitive. This is attributed to the increasing incidences of chronic diseases worldwide, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global lab-on-a-chip and microarrays (biochip) market are Merck KgaA, QIAGEN NV, BioMérieux, Illumina Inc., Micronit BV, PerkinElmer Inc., Thermo Fisher Scientific, Fluidigm Corporation, Bio-Rad Laboratories Inc., Agilent Technologies Inc., Abbott Laboratories, Phalanx Biotech Group, and Danaher Corporation (Cepheid), among others.

*Definition: A biochip is a collection of miniaturized test sites (microarrays) arranged on a solid substrate that allow many tests to be performed at the same time to achieve higher throughput and speed. A biochip can complete thousands of biological reactions.