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Microfluidics Market to Grow at 22.6% CAGR to 2022 'Genomics, Drug Delivery and Clinical Diagnostics' Drives the Growth

ReportsnReports
Posted on: 04 Apr 18
Microfluidics Market to Grow at 22.6% CAGR to 2022 'Genomics, Drug Delivery and Clinical Diagnostics' Drives the Growth

PR Newswire

PUNE, India, April 4, 2018

PUNE, India, April 4, 2018 /PRNewswire/ --

ReportsnReports.com adds the 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. However, complex and time-consuming regulatory approvals process for the microfluidics technology into existing workflow is one of the factors restraining the growth of this market.

Browse 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" http://www.reportsnreports.com/reports/271898-microfluidics-market-by-materials-polymers-silicon-glass-pharmaceuticals-microreactors-toxicity-screening-lab-on-chip-proteomic-genomic-analysis-drug-delivery-devices-microneedles-micropumps-ivd-poc-global-trends-forecast-to-2018.html .

The key players in the global 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).

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.

Inquire for DISCOUNT 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 http://www.reportsnreports.com/contacts/discount.aspx?name=271898 .

The 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.

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.

Polymers are rapidly evolving and are widely used for various microfluidic devices due to the several benefits associated with their use such as diversity in material properties suitable for particular applications and high flexibility for micro-manufacturing processes.

Order a copy of "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 http://www.reportsnreports.com/purchase.aspx?name=271898 .

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 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.

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%, AsiaPacific-20%, Latin America- 11%, Middle East and Africa-8%

Another research titled Thermal Analysis Market to 2022 says, The global thermal analysis market is projected to reach USD 640.7 million by 2022 from USD 511.5 million in 2017, at a CAGR of 4.6%.The major factors driving the growth of the thermal analysis market include the increasing production of crude and shale oil, growing research activities in major end-user segments, and patent expiry of blockbuster drugs and bio molecules. The major players in the market included are Waters (US), NETZSCH (Germany), LINSEIS (Germany), Mettler-Toledo (US), PerkinElmer (US), SETARAM (France), and Shimadzu (Japan).

Explore more reports on Medical Devices at http://www.reportsnreports.com/market-research/medical-devices/ .

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Last updated on: 04/04/2018

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