BANGALORE, India | 26th September 2020: According to the Latest Market Research Report “Microfluidics Market Based on Material (Glass Based, Polymer-based, and Silicon-based) Based on Product (Cartridges Reagents, Instruments, and Microfluidic Chips) Based on Application (Peripheral Vascular Diseases, Drug Delivery, In Vitro Diagnostics, Pharmaceutical & Biotech Research, and Wound Care Management) Based on End User (Academic Research Institutes, Diagnostic Lab, Homecare Settings, and Hospital) and Geography – Global Forecast to 2025“, published on Valuates Reports.
The Global Microfluidics Market size is expected to grow from USD 11,195.12 Million in 2019 to USD 30,965.88 Million by 2025 at a Compound Annual Growth Rate (CAGR) of 18.47%.
Major factors driving the Microfluidics Market size growth are increased demand for POC research, benefits associated with microfluidics integration, and high return on investment.
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TRENDS INFLUENCING THE MICROFLUIDICS MARKET SIZE
Demand for high-throughput screening methodologies, low-volume sample study, In Vitro Diagnostics (IVD) demand, and the development of advanced lab-on-a-chip technologies drive the Microfluidics Market size. Also, by reducing errors, microfluidics provides a high return on investment and helps in cost control.
Significant investments aimed at improving and encouraging microfluidics are expected to drive the growth of the Microfluidics Market size.
Technological Microfluidics advances, such as microfluidic 3D lab-on-a-chip systems, contribute to the evolution of a cost-effective diagnostic system mass manufacturing process. The application profile of microfluidic devices has been broadened by this technological leap and is expected to propel the Microfluidics Market size.
The Microfluidics market size is also highly influenced by the growing demand for point-of-care testing(POCT) research. To provide immediate results outside the traditional laboratory setting, POCT requires the execution of a test close to the patient care site. In recent years, diagnostics companies have recognized the promise of rapid molecular diagnostic testing and have introduced many popular treatment products based on microfluidic technology. Such clinical studies are expected to be to drive the demand for the microfluidic market.
MICROFLUIDICS MARKET SHARE ANALYSIS
North America is expected to hold the largest microfluidics market share during the forecast period. This dominance is attributed to the presence of many main market players, the adoption of new technology, and increased demand for POC diagnostics.
The Asia Pacific is expected to witness the highest growth due to cheap labor availability, increased emphasis on curbing the prevalence of chronic diseases, increased healthcare infrastructure, and availability of research funding and favorable regulatory policies.
In 2019, the lab-on-a-chip segment accounted for a large microfluidics market share and was expected to retain its dominance over the forecast period. Lab-on-a-chip provides fast detection speeds in the field of molecular biology while retaining the same sensitivity during amplification and detection procedures for DNA or RNA.
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MICROFLUIDICS MARKET SEGMENTATION & COVERAGE:
This research report categorizes the Microfluidics to forecast the revenues and analyze the trends in each of the following sub-markets:
Based on Material, the Microfluidics Market studied across
- Glass Based,
Based on Product, the Microfluidics Market studied across
- Cartridges Reagents,
- Microfluidic Chips.
Based on Application, the Microfluidics Market studied across
- Peripheral Vascular Diseases,
- Drug Delivery,
- In Vitro Diagnostics,
- Pharmaceutical & Biotech Research,
- Wound Care Management.
Based on End User, the Microfluidics Market studied across
- Academic Research Institutes,
- Diagnostic Lab,
- Homecare Settings,
- Agilent Technologies, Inc.,
- Bio-Rad Laboratories, Inc,
- Danaher Corporation,
- F. Hoffmann La-Roche Ltd.,
- Perkinelmer, Inc.,
- RainDance Technologies, Inc.,
- Thermo Fisher Scientific, Inc
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SIMILAR REPORTS :
- Microfluidic Chips Market
In 2019, the global Microfluidic Chips market size was USD 3459.3 Million, and it is expected to reach USD 7959.8 Million by the end of 2026, with a CAGR of 12.5% during 2021-2026.
Agilent is the world-leading manufacturer in the global Microfluidic Chips market, with a market share of 3.77% in 2016.
- COVID-19 Impact on Microfluidics Components Market
- Bio-MEMS & Microfluidics Market
- Healthcare Microfluidics Market
- Pressure Sensor for Microfluidics Market