Lab-on-a-chip (LOC) means miniaturization of analytical devices that integrate several laboratory operations such as PCR and DNA sequencing into a single chip on a very small scale. It is a class of device that integrates and automates multiple laboratory techniques into a system that fits on a chip up to a maximum of a few square centimetres in size. A microarray is a laboratory tool used to detect the expression of thousands of genes at the same time. Microarray technology can be used for a variety of purposes in research and clinical studies.
Market Statistics:
The global Lab-on-a-chip and Microarrays (Biochip) Market is estimated to account for US$ 17,256.9 Mn in terms of value by the end of 2023.
Drivers:
Increasing incidences of chronic diseases and rise in demand for point-of-care testing is expected to augment the growth of the global lab-on-a-chip and microarrays (biochip) market. For instance, since those diseases are chronic, accurate and timely clinical decision-making is required. Thus, market players are focusing on developing lab-on-a-chip-based POC systems for the diagnosis of chronic disorders. According to the 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. This in turn is expected to aid in the market growth.
Opportunities:
Growing applications of biochips are expected to offer significant growth opportunities for players in the global lab-on-a-chip and microarrays (biochip) market. For instance, with the rise in burden of chronic diseases, rise in adoption of personalized medicine, and rise in application of proteomics and genomics in cancer research, the use of biochips is also increasing rapidly. In February 2022, Onera Health launched the Onera Biomedical-Lab-on-Chip, an ultra-low-power bio-signal sensor subsystem for wearable devices. The biomedical compact chip is designed to process multiple bio-signals, which creates a massive opportunity for health devices.
Restraints:
Availability of alternative technologies and design constraints of lab-on-chip technology are major factors expected to hamper growth of the global lab-on-a-chip and microarrays (biochip) market. 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. Moreover, complex design of the LOC technology or design constraints of lab-on-chip technology continues to restrain the growth of the lab-on-a-chip and microarrays (biochip) market.
Global Lab-on-a-chip and Microarrays (Biochip) Market- Impact of Coronavirus (Covid-19) Pandemic:
The pandemic had a positive impact on the lab-on-a-chip and microarrays (biochip) market. With the increasing number of COVID-19 cases, there was/is a growing number of research studies to treat and prevent this disease. This in turn has increased the demand for lab-on-a-chip or biochip. In April 2021, PathogenDx Inc. reported that the U.S. Food and Drug Administration (FDA) had issued an Emergency Use Authorization 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.
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Key Takeaways:
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.
Among type, lab-on-a-chip segment held dominant position in the global lab-on-a-chip and microarrays (biochip) market in 2022, accounting for 72.4% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
Technological advancements is one of the key trends expected to propel the growth of the global lab-on-a-chip and microarrays (biochip) market. 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 worldwide are increasingly investing in lab-on-a-chip, as this technology is expected to change daily lives people over the forecast period. This trend is expected to continue over the forecast period, driving the growth of the market.
Competitive Landscape:
Major players operating 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.
Recent Developments:
In January 2021, LexaGene aimed to bring its MiQLab from research-only use to point-of-care use to detect the SARS-CoV-2 virus. Emergency use authorization (EUA) would add a rapid test with the accuracy of polymerase chain reaction (PCR).
In March 2020, Veredus Laboratories announced that its product had received CE-IVD marking of VereCoV Detection Kit for commercial launch in Europe.
In December 2019, Dolomite Microfluidics launched a number of new microfluidic chip options for its innovative Telos system. The expanded range now includes a 50 μm version of the Telos 2 Reagent Chip to complement the original 100 μm option, allowing the formation of monodisperse, 10 to 75 μm droplets containing two reagents.
