Microfluidics market is projected to reach USD 27.91 billion by 2023 from estimated USD 10.06 billion in 2018, at a CAGR of 22.6%. Quick returns on investment coupled with the fast results and improved portability of the medical equipment embedded with microfluidics technology are the factors expected to drive the market during the forecast period.
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Sample Papers with 166 Market Data Tables and 51 Figures spread through 228 Pages and in-depth TOC on “Microfluidics Market by Application (Genomics, Proteomics, Capillary Electrophoresis, IVD (POC, Clinical Diagnostics), Drug Delivery, Microreactor, Lab Tests), Component (Chips, Pump, Needle), Material (Polymer, Glass, Silicon) - Global Forecast to 2023” at www.rnrmarketresearch.com/contacts…mple?rname=136837 .
North America accounted for the largest share of the microfluidics market in 2017, followed by Europe and Asia Pacific. The largest share of the North American region is mainly attributed to the higher incidence rate of chronic diseases, availability of insurance coverage for laboratory testing procedures, sufficient reimbursements for medical devices, and presence of well-structured distribution channels in the region.
In addition, high demand for self-administration and home healthcare devices, and increasing applications of micropumps, inhalers, and transdermal microneedles for chronic conditions such as migraine, diabetes, cancer pain, and asthma have further resulted in the large share of this market.
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- Growth Potential of the Microfluidics Market
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Microfluidics market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug delivery, and laboratory testing. The in vitro diagnostics segment is expected to witness the highest growth during the forecast period.
High prevalence of infectious and lifestyle diseases, relatively lower turnaround times exhibited by POC diagnostics compared to central lab testing methods, rapid rise in aging population, and the introduction of technologically advanced products are some of the key factors driving the growth of the microfluidics market for in vitro diagnostics applications during the forecast period.
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The microfluidics market is segmented into polymer-based microfluidics, glass-based microfluidics, silicone-based microfluidics, and other material-based microfluidics. The polymer-based microfluidics market is expected to witness the highest growth during the forecast period.
The high growth rate of this segment is attributed to the greater preference for polymers as a substrate in microfluidic devices among manufacturers, reduced costs, enhanced profit margins, simple manufacturing process, and wider applications in pharmaceutical research, academic laboratories, and molecular diagnostics.
- Product Portfolio Matrix
- Competitive Situations and Trends
- Product Launches
- Partnerships, Agreements, and Collaborations
Key players in 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).
More Information on “Microfluidics Market by Application (Genomics, Proteomics, Capillary Electrophoresis, IVD (POC, Clinical Diagnostics), Drug Delivery, Microreactor, Lab Tests), Component (Chips, Pump, Needle), Material (Polymer, Glass, Silicon) - Global Forecast to 2023” research report at www.rnrmarketresearch.com/contacts…ying?rname=136837 .
The report analyzes the microfluidics market and aims at estimating the market size and future growth potential of this market based on various segments such as application, component, material, and region. The report includes revenue analysis for various applications 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.
Break of primary participants from supply side was as mentioned below:
- By Company Type – Tier 1–53%, Tier 2–26% and Tier 3–21%
- By Designation – C Level–42%, Director Level–26%, Others–32%
- By Region – North America–26%, Europe–35%, Asia Pacific–20%, Latin America- 11%, Middle East and Africa–8%
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