Key driver for microfluidics market study and demand by point-of-care (POC) and in-vitro diagnostics. Application of microfluidics in HIV testing at POCs is expected to cut cost, thereby increase demand for technology.
Report includes revenue analysis for various application of microfluidics equipment and components across the globe and a competitive analysis of the key players in this market along with their company profiles, product offerings, recent developments, SWOT analysis, and key market strategies. To overcome this challenge, companies are investing in research and development.
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Study report on Microfluidics market to hit 22.6% CAGR and projected to reach US$ 27.91 billion by 2023 from estimated US$ 10.06 billion in 2018. North America holds largest share of market in 2018. Another challenge for growth of market is implementation of emerging microfluidics technology in existing applications.
“The in vitro diagnostics application segment is expected to grow at the highest CAGR during the forecast period”
Report analyzes the microfluidics market and aims at estimating market size and future growth potential of this market based on various segments like application, component, material, and region. Quick returns on investment coupled with fast results and improved portability of the medical equipment embedded with microfluidics technology are factors expected to drive the market during the forecast period.
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Geographically, global microfluidics market is segmented into North America, Europe, Asia Pacific, Latin America, & Middle East and Africa. Compared to Europe & Asia Pacific, North America has various additional advantages such as investment initiatives by government and presence of high-quality infrastructure for clinical and laboratory research.
The major players in the microfluidics market are 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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Microfluidics Market 2019 Report analyses the industry status, size, share, trends, growth opportunity, competition landscape and forecast to 2025. Microfluidics market report also provides data on patterns, improvements, target business sectors, limits and advancements. Furthermore, this research report categorizes the market by companies, region, type and end-use industry.
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a greater share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.