A lab-on-chip (LOC) device is a miniaturized laboratory on a credit card sized chip with a network of micro-channels, electrodes, sensors, and electronic circuits. These chips are usually made of polymer, glass, Silicon, plastic, and other materials. LOC has evolved from MEMS (Micro electro mechanical systems) devices and can replicate all the functions of its counterparts in performing several clinical diagnostics tests. The lab-on-chip market is a fast growing segment of the global biochip market as its wide applications have led to increased adoption in pharmaceutical, biotechnology companies, and other research laboratories. Furthermore, these chips are not limited to human applications but are very suitable for a variety of veterinary needs, food safety, and environmental testing in industrial as well as remote areas. Diagnostics represents the largest potential application market for lab-on-chips growing at a CAGR of 22.6%.

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