Microfluidics 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.
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Microfluidics market is valued at USD 8.28 Billion in 2018 & is expected to grow at a CAGR of 22.6% during forecast period, to reach to USD 27.91 Billion by 2023. Report analyzes microfluidics market & aims at estimating market size & future growth potential of this market based on various segments such as application, component, material, & region.
“The in vitro diagnostics application segment is expected to grow at the highest CAGR during the forecast period”
The microfluidics market report provides practical application of small fluid volumes for design of systems and development of solutions. The regulatory standards consume too much time for the approval process of microfluidics devices. High prevalence of infectious and lifestyle diseases, relatively lower turnaround times exhibited by POC testing and clinical diagnostics compared to central lab testing methods.
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Report analyzes microfluidics market by application, component, material, and region. Based on application, market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug delivery, & laboratory testing. By application, in vitro diagnostics segment accounted for largest share of market in 2017. Key players in the market and to comprehensively analyze their core competencies.
“The polymer-based microfluidics segment of microfluidic components market is projected to witness the highest growth during the forecast period“.
Some of the major market players in the microfluidics marketare Danaher (US), Thermo Fisher (US), PerkinElmer (US), Agilent (US), Bio-Rad (US), Becton, Dickinson and Company (US), Roche (Switzerland), Illumina (US), Fluidigm Microfluidics (US), and QIAGEN (Netherlands).Other key players include Dolomite Microfluidics (UK), GYROS PROTEIN TECHNOLOGIES AB (Sweden), Sphere Fluidics (UK), OPKO Health (US), Waters (US), thinXXS Microtechnology (Germany), Abaxis (US), bioMérieux (France), Abbott (US), Dolomite Microfluidics (UK), Microfluidic ChipShop (Germany), Elveflow (France), Cellix (Ireland), Micronit Microtechnologies (Netherlands), MicroLiquid (Spain), MiniFAB (Australia), uFluidix (Canada), Micralyne (US), and Fluigent (France).
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The microfluidic component market is segmented into polymer-based microfluidics, glass-based microfluidics, silicone-based microfluidics, and other material-based microfluidics. Forecast the size of the market in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. To analyze market opportunities for stakeholders and provide details of a competitive landscape for key players.
Report includes revenue analysis for various application of microfluidics equipment and components across globe and a competitive analysis of key players in this market along with their company profiles, product offerings, recent developments, SWOT analysis, and key market strategies.