Microfluidics Market (2018 – 2023) report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The Microfluidics market report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
“Microfluidics Market report is anticipated to register a CAGR of 17.45% over a five years forecast period (2018 – 2023).”
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List of Major Key players operating in the Global Microfluidics Market are –
- Danaher Corporation
- PerkinElmer Inc.
- Agilent Technologies Inc.
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- uFluidix Dolomite Centre
- F. Hoffmann-La Roche AG
- Fluidigm Corporation
- Micronit Microfluidics BV
- Abbott Laboratories
The global microfluidics market was valued at USD 4.552 billion in 2017, and is expected to reach USD 111.95 billion by 2023, recording a CAGR of 17.45% over the forecast period of 2018-2023. The scope of the report is limited to solutions offered by major players, including providers of microfluidic chips, micro pumps, and micro needles. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and rest of the world.
Owing to the strong demand for faster, cheaper, and decentralized diagnostics, and its increasing use in molecular diagnostics, the market for microfluidics is expected to witness healthy growth during the forecast period. Microfluidics deals with the behavior, control, and manipulation of fluids in a geometrically constrained scale. The increasing incidences of chronic diseases are demanding the use of microfluidics in the healthcare sector. The early detection and personalized treatment of lifestyle diseases has created a demand for this technology, which has gained prominence, in order to cater to the demands of a growing geriatric population.
Thus, the market is mainly driven by the growing pharmaceutical and biotechnology research funding, rising incidences of lifestyle diseases, escalating geriatric population, intensifying demand for point-of-care testing, increasing demand for miniaturized microfluidic chip as it offers lower testing time and improved portability, and growing stem cell and cancer research. Further, breakthroughs, such as the recently published method of 3D printing microfluidic lab-on-a-chip devices, leading to the evolution of a cost-effective mass-production process of diagnostic devices, and smartphones paired to microfluidics, enable an increased range and ability of POC testing. The development of devices, such as the TRI analyzer, offers opportunities for the market players to expand their presence. However, complex and time-consuming regulatory approval process, high cost of integrated instruments and microfluidic sensors, and lack of visibility of microfluidics products are deterring the growth of this market to a certain extent.
Point-of-Care Testing to Offer Growth Opportunities
Point-of-care testing is necessary to provide a quick diagnostic result for a prompt on-site diagnosis and treatment. A prompt analysis time and high sensitivity, with a sample-to-answer format, are the most important features for current point-of-care testing diagnostic systems. Microfluidic lab-on-a-chip technologies have been considered as one of the promising solutions that can meet the requirements of the POCT, as they can miniaturize and integrate most of the functional modules used in central laboratories into a small chip. Future developments of the microfluidics chip include the ability to quantify plasma proteins and cell surface receptors expression levels, to gain a more holistic picture of the patientâs immune system, as well as further validation in multi-center clinical studies.
IVD was the largest application segment in the microfluidics market
Factors, such as increasing incidence of chronic diseases, growing geriatric population, increasing healthcare spending in emerging countries, growing demand for point-of-care testing, emerging technologies like molecular diagnostics, and growing out-of-pocket healthcare expenditure, are boosting the growth of the in-vitro diagnostics market. Owing to its broad range of applications, such as POC, IVD accounted for a significant share of revenues in 2017. Moreover, companies, such as Abbott, Roche Diagnostics, Cephied, and Becton, Dickinson and Company (BD), are adopting microfluidics in the IVD.
North America Dominated the Market
North America accounted for the largest share in 2017, followed by Europe, Asia-Pacific, and rest of the world respectively. The presence of prominent market leaders, such as Danaher Corporation and Thermofisher Scientific Inc. in the United States, also contributes significantly to the revenues in the region. Further, the introduction of advanced technologies, large number of researches to improve the sample volume optimization techniques, and the strong market growth of POC diagnostics also contribute to the marketâs growth in the region. Moreover, strong financial backup by organizations is expected to pour into new POC diagnostics for chronic diseases, such as cancer and stroke. For instance, in December 2011, Grand Challenges Canada and the Bill & Melinda Gates Foundation donated USD 31 million to innovate POC diagnostics.
The key players in this market include –
â¢ Danaher Corporation
â¢ PerkinElmer Inc.
â¢ Agilent Technologies Inc.
â¢ Bio-Rad Laboratories Inc.
â¢ Thermo Fisher Scientific Inc.
Other players include-
â¢ Dolomite Centre
â¢ Micronit Microfluidics
â¢ F Hoffmann-La Roche AG
â¢ Fluidigm Corporation
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Scope of the Report:
The report analyses Microfluidics market, which includes –
- Analysis of the growth of Microfluidics market in global and regional level including Asia-Pacific, Americas, and EMEA.
- The report provides Microfluidics market analysis for key countries including the US, Canada, Chile, China, India, Japan, the UK, Germany, France, and Italy.
- The report offers country level Microfluidics market volume and value by end-user segment for the period 2012-2023.
- Qualitative analysis of key market drivers and restraints, and analysis of their impacts on Microfluidics market are discussed.
- The report provides competitive landscape at country level for the year 2018. It also covers key policies and initiatives, key deals, and key upcoming projects.
Highlighted points of Microfluidics Market Report:
- Varying dynamics of the Microfluidics industry.
- Prospective changes in sales volumes and worldwide share growth in upcoming years (2018-2023).
- Microfluidics market report recognizes the key drivers of growth and challenges of the key industry players.
- Competitors profiles along with product description, overview, and business data.
- A complete analysis of market risks, opportunities, limitations, and growth of the market.
- Market driving and restraining factors.
- Delivers information on the historical and current market size and the future potential of the market.
- Microfluidics market report provides a comprehensive analysis of the market with respect to market dynamics, competitive analysis, and upcoming trends of the market.
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Reasons to Purchase Microfluidics Market Report:
- The report analyses how stringent emission control norms will drive the global Microfluidics market.
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
- Study on the product type that is expected to dominate the market.
- Study on the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major Microfluidics market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
In this study, the years considered to estimate the market size of Microfluidics:
History Year: 2013-2017
Base Year: 2017
Estimated Year: 2018
Forecast Year 2018 to 2023
Look into Table of Content of Microfluidics Market Report @ https://www.360marketupdates.com/TOC/12883671#TOC
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