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Lab-on-a-Chip Market Size, Share, Trends, Analysis, Report and Forecast to 2022

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According to Stratistics MRC, the Global Lab-on-a-Chip Market is accounted for $4.23 billion in 2016.

GAITHERSBURG, MARYLAND, US, May 3, 2017 /EINPresswire.com/ -- According to Stratistics MRC, the Global Lab-on-a-Chip Market is accounted for $4.23 billion in 2016 and is expected to reach $7.95 billion by 2022 growing at a CAGR of 11.0% during the forecast period. Some of the key drivers impacting the demand for the market include the development of personalized medicines and increasing number of applications in cancer research and biochips. Furthermore, easy accessibility of lab on chip technology with a reasonable price will fuel the market size globally. However, accessibility to alternative technologies is one of the major factors hampering the market growth.

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By geography, North America commanded the largest market share due to increasing number of aging population. On the other hand, Asia Pacific and European markets are anticipated to show highest growth rate over the forecast period. Emerging countries such as China and India are the fastest growing countries in lab on chip market due to huge R&D investments and increasing number of funds by government.

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Some of the key players in Lab-on-a-Chip market include Fluidigm Corporation, Bio-Rad Laboratories, RainDance Technologies, Inc., Agilent Technologies, Inc., F. Hoffmann-La Roche AG, Abbott Laboratories, Thermo Fisher Scientific, PerkinElmer, Inc., Becton, Dickinson and Company, IDEX Corporation and Danaher Corporation.

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