Microfluidics market: emerging market trends, size, share and growth analysis

Microfluidics Market: Emerging Market Trends, Size, Share and Growth Analysis Date: 03-15-2017 09:03 PM CET Category: Health & Medicine Press release from: Transparency Market Research - Biotechnology

The competition in the global microfluidics market is exceptionally high due to the strong presence of several global players in the overall market. The leading players held a share of 53% in the global market in 2016. Danaher Corporation, Thermo Fisher Scientific, and F. Hoffman-La Roche AG hold a dominant position in the overall market due to their extensive product portfolio and a growing geographical presence, states Transparency Market Research According to the research report, the global microfluidics market is expected to reach a valuation of US$12.45 bn by the end of 2025 as compared to US$ 4.76 bn in 2016. During the forecast years of 2016 and 2025, the overall market is expected to expand at a CAGR of 11.4%.

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North America to Lead Global Market due to Adoption of Innovative Products On the basis of product, the global market is segmented into microfluidic chips, instruments, cartridges and reagents, and others. Of these, cartridges and reagents are expected to lead the market due to their extensive usage in assays and techniques.

Advantages of using these such as improved accuracy, quick analysis, and reduced reagent consumption is expected to drive their demand in the coming years. The report estimates the cartridges and reagents segment will progress at a CAGR of 12.2% between 2017 and 2025.

On the basis of geography, the global microfluidics market is segmented into Latin America, Asia Pacific, Europe, North America, and the Middle East and Africa. North America is anticipated to dominate the global market during the forecast period and is poised to acquire a share of 35.4% during the forecast period. The adoption of innovative products in areas such as point of care testing and in vitro diagnostics is expected to keep the regional market at the forefront.

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Reduced Costs to Ensure Swift Uptake of Microfluidics Technology “Microfluidic technologies come with a wide range of advantages that have become their strong selling points,” states the lead author of this research report. The industrial market has shown a keen interest in the microfluidics systems and technologies as they have considerable reduced the costs of procedures, ensured faster time-to-results, lesser wastage of reagents, and smaller size and weight of devices or products. The market is also expected to benefit from the growing demand for point-of-care diagnostics due their cost-effectiveness. Furthermore, ability of ensure quick diagnosis of various diseases and disorders is expected to augment the demand for microfluidics tools in the coming years. The ever-increasing pool of geriatrics that is prone to various chronic disease such as diabetes, cancer, cardiovascular conditions, and infectious diseases are also estimated provide the global market an adequate fillip.

Slow Rate of Approval to Hamper Market Growth The market is being pulled in the opposite direction due to the strict regulatory approvals by the U.S. FDA for the devices.

The body terms them as class III high-risk medical devices, which also means that an excise duty of 2.5% is levied on the products. Both these factors are expected to restrain the growth of the global market. The market is likely to be restrained by the high cost of devices and instruments. Furthermore, the lack of reliability on the assembling, integration, and packaging of devices before usage has also raised concerns amongst end users is also anticipated to restrain the overall market.

This review is based on Transparency Market Research’s review, titled “Microfluidics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”

Browse Global Strategic Business Report: www.transparencymarketresearch.com/microfluidics-market.html The global microfluidics market has been segmented as follows: Microfluidic Market, by Product Type Microfluidic Chip Instruments Cartridges & Reagents Others Microfluidic Market, by Application Peripheral Vascular Diseases Wound Care Management Pharmaceutical & Biotech Research In vitro Diagnostics Drug Delivery Others Microfluidic Market, by Material Polymer based Glass based Others Microfluidic Market, by End-user Hospitals Academic & Research Institute Diagnostic Lab Homecare settings Others Microfluidics Market, by Geography

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North America U.S. Canada Europe Germany France U.K. Italy Spain Rest of Europe Asia Pacific Japan China Australia India Rest of Europe Latin America Brazil Mexico Rest of Latin America Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa About Us Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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