According to the research report titled ‘Global Lab-on-a-chip and Microarrays (Biochip) Market size study by Type (Lab-on-a-chip and Microarrays), Product (Instruments, Reagents and Consumables, and Software and Services), Application (Clinical Diagnostics, Drug Discovery, Genomics and Proteomics, and Other Applications), End-User (Biotechnology and Pharmaceutical Companies, Hospitals and Diagnostics Centers and Academic and Research Institutes), Regional Forecasts 2021-2027’, available with MarketStudyReport, global lab-on-a-chip and microarrays (biochip) market was worth USD 13.36 billion in 2020 and is expected to grow with a CAGR of 13.96% over the forecast period to reach a valuation of USD 33.3 billon by 2027.
 

Increasing demand for point-of-care testing, rising incidences of chronic illness, and surging usage of proteomics & genomics in cancer research are the factors driving the global lab-on-a-chip and microarrays (biochip) market growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4219644/
 

For the unversed, a lab-on-chip is a microdevice that integrates multiple laboratory analysis operations, such as biochemical detection, PCR, DNA sequencing and others, onto a single chip. It has several advantages such as ergonomy, waste minimization, parallelization and high assay sensitivity,. The chips utilized can be as tiny as a few square centimeters and can work with small fluid quantities, as low as picolitres.
 

Despite the positive outlook, availability of alternative technologies may stifle the market growth during 2021-2027.
 

Based on product terrain, worldwide lab-on-a-chip and microarrays (biochip) marketplace is classified into instruments, reagents & consumables, and software & services. By type, the industry fragmentation comprises lab-on-a-chip, and micro array segments.
 

Application spectrum, the market is branched into clinical diagnostics, genomics & proteomics, drug discovery, and others. Whereas end-user scope includes hospitals & diagnostics centers, biotechnology & pharmaceutical companies, and academic & research institutes.
 

Considering the regional aspect, North America market is expected to record strong growth over the study period, owing to the availability of a high-quality healthcare system. With rising threat of the COVID-19 pandemic,  fast testing kits are in high demand in the United States, which will certainly complement the  expansion of the regional industry in the coming years.
 

Speaking of the competitive arena, major players in worldwide lab-on-a-chip and microarrays (biochip) marketplace are Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Abbott Laboratories, Agilent Technologies Inc., Thermo Fisher Scientific Inc., Qiagen N.V., General Electric Company, Fluidigm Corporation, and PerkinElmer Inc.