Global Microfluidics Market: Snapshot
Microfluidics technology refers to of operating and controlling liquids with flow channels. The technique has picked up pace due to its growing applications in areas such as point of care devices and invitro diagnostic techniques for pregnancy kits and glucometer kits. The report states that the technology will show tremendous progress in the coming years due to its emerging applications in the fields of pharmaceutical, in-vitro diagnostics, and drug delivery industries. Owing to these reasons, the global microfluidics market is estimated to be worth US$12.45 bn by the end of 2025 as compared to US$4.76 bn in 2016. The market is expected to show a steady CAGR of 11.4% between 2016 and 2025.
The range of advantages offered by the global microfluidics products and devices such as accuracy, reduction in volume, liability, reduced costs, fast return on investments, and greater profit margins have proven to the key growth drivers. Furthermore, growing interest of market players in discovering various types of polymers in order to improve the compatibility of microfluidic products to cut down their manufacturing costs is also expected to work in favor of the overall market in the near future.
Acceptance of Cartridges and Reagents in Industries and Laboratories Drives Segment
On the basis of product, the global microfluidics market is fragmented into instruments, microfluidic chip, cartridges and reagents, and others. Of these, the cartridges and reagents held a leading share in the global market and the segment is expected to continue its dominance in the coming years. In terms of revenue, the total global microfluidics market held a share of 45.2% in the global market in 2016. The considerable acceptance of microfluidic products in laboratories and industries have provided cartridges and reagents this wide scope for growth. The report projects that the instruments and the microfluidic chip segments will closely follow the lead during the forecast period.
North America to Dominate Global Microfluidics Market with Well-established Healthcare Sector
On the basis of geography, the global microfluidics market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. As of 2016, North America held a major share in the overall market. The region is anticipated to show a persistent progress throughout the forecast period due to high adoption of innovative products. The regional market will also benefit from the well-established healthcare sector.
Asia Pacific is also expected to offer lucrative opportunities to the microfluidics market in the coming years. This regional market will be fueled by the growing pool of geriatrics who are prone to medical conditions and thus require diagnosis and care. The increasing technological advancements across Asia Pacific is also projected to propel the growth of the overall market. For instance, improvements in point of care diagnostic devices and invitro diagnostics technology have allowed vendors to products some of the superior microfluidics products in recent times. The growing awareness about new technologies in Asia Pacific, rising medical tourism, and growing healthcare infrastructure will prove to be pivotal to the positive trajectory of this regional market.
The important players operating in the global microfluidics market are Danaher Corporation, PerkinElmer, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc, Thermo Fisher Scientific, Inc, RainDance Technologies, Inc., and F. Hoffmann La-Roche Ltd. The market is witnessing a high degree of competition due to the presence of several players.
Global Microfluidics Market: Overview
This report on microfluidic market studies the current as well as future prospects of the market globally. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various microfluidics instrument and products as well as new entrants planning to enter this market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the global microfluidics market with respect to the leading market segments based on major products, applications, key materials utilized, end-users, and geographies.
Global Microfluidics Market: Segmentation Analysis
The global microfluidics market has been studied based on major product segments, application segments, material segments, their end-users, and regional as well as national markets. Based on product type, the global market has been categorized into three major 4 segments: instruments, microfluidic chip, cartridges & reagents and others. On the basis of applications the microfluidics market is classified as peripheral vascular diseases, Wound care management, pharmaceutical & biotech Research, Invitro Diagnostics (IVD), Drug Delivery and Others. On the basis of material the segment has been classified in to Polymer based, Glass based and others. On the basis of end users the market has been classified as hospitals, diagnostic Lab, academics & research institutes, homecare settings and others.
The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2016 to 2025 along with the compound annual growth rate (CAGR %) from 2016 to 2025 are provided for all segments, considering 2016 as the base year.
Global Microfluidics Market: Scope of the Report
The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the global microfluidics market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/applications/end-users/geographies. The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top global players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the global market.
Global Microfluidics Market: Regional Outlook
Geographically, the microfluidics market has been segmented into five regions: North America, Europe, Asia Pacific, Europe, Middle East & Africa (MEA), and Latin America. Each regional market for microfluidics has been further categorized into major product, applications, material, and end-user segments considered within the scope of the study. Key country (U.S., Canada, Japan, Germany, France, U.K., Australia, Canada, China, Brazil, Mexico, India, etc.) market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2015 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year.
Key Players Mentioned in this Report are:
The report also profiles key players operating in the microfluidics market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include Danaher Corporation, PerkinElmer, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc, Thermo Fisher Scientific, Inc, RainDance Technologies, Inc., and F. Hoffmann La-Roche Ltd.
The global microfluidics market has been segmented as follows:
Microfluidic Market, by Product Type
- Microfluidic Chip
- Cartridges & Reagents
Microfluidic Market, by Application
- Peripheral Vascular Diseases
- Wound Care Management
- Pharmaceutical & Biotech Research
- In vitro Diagnostics
- Drug Delivery
Microfluidic Market, by Material
- Polymer based
- Glass based
Microfluidic Market, by End-user
- Academic & Research Institute
- Diagnostic Lab
- Homecare settings
Microfluidics Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa