QYResearch: The global market for Microfluidic Chips is expected to reach about 4827.27 M USD by 2022 Custom Research｜Research Report｜Management Consulting｜Seminar｜Database
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QYResearch A microfluidic chip is a set of micro-channels etched or molded into a material (glass, silicon or polymer such as PDMS, for PolyDimethylSiloxane). The micro-channels forming the microfluidic chip are connected together in order to achieve the desired features (mix, pump, sort, control bio-chemical environment).
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Microfluidic Chips industry has much fragmented, manufacturers are mostly in the USA. Among them, USA Production value accounted for less than 36.81% of the total value of global Microfluidic Chips in 2016. Agilent is the world leading manufacturer in global Microfluidic Chips market with the market share of 3.77% in 2016. Compared to 2015, Microfluidic Chips market managed to increase sales by 17.60% to 2.29 Billion USD worldwide in 2016. According to QYResearch, The global Microfluidic Chips production market is expected to reach 4.83 Billion USD by 2022 from 2.70 Billion USD in 2017, growing at a CAGR of 12.34% from 2017 to 2022. And USA market is expected to become the biggest Consumption market with 1.86 Billion USD of revenue in 2022.
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North America is the largest regional segment of the global microfluidics market, followed by Europe and Asia-Pacific. The large share of this region can be attributed to growing incidence rate of various infectious 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, an increase in the demand for self-administration and home healthcare devices, and increasing applications of micropumps, and transdermal microneedles for chronic disease areas such as migraine, diabetes, cancer pain, and asthma have boosted the growth of this market. However, the Asia-Pacific region is the fastest-growing market owing to factors such as rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries.
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In the past few years, as the main raw material price was reduced, with the increasing in production capacity, expected that the Microfluidic Chips raw material price will be stable in the future. However, the improvement of energy, transportation costs, and labor costs, will play a significant role in promoting the cost of Microfluidic Chips. There are companies adding new capacities and aims at the cost and quality leadership which shall improve profitability. As the same time, companies are focusing on technological innovation, equipment upgrades, and process improvements, to reduce costs and improve quality.
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QYResearch
The average price of Microfluidic Chips will fall further. The product average price declined in the past few years due to the technology development.
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