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Market Survey: Microfluidics Market Share CAGR Status, (Forecast 2019-2023) According to | Business Outlook, Top Companies, Key Regions, Product Demand, Analytical Research Report

Microfluidics

The Microfluidics Market Report 2019-2023 focuses on the global Microfluidics status, future forecast, growth opportunity, key market, and key players. 

The Microfluidics Market report studies the global market size of Microfluidics in key regions like North America, Europe, Asia Pacific, Central & South America, and the Middle East & Africa focuses on the consumption of Microfluidics in these regions. This research report categorizes the global Microfluidics market by players/brands, region, type, and application. This report also studies the global market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porters Five Forces Analysis.

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The various contributors involved in the value chain of Microfluidics include manufacturers, suppliers, distributors, intermediaries, and customers.

The Key Players covered in this study:-

  • Danaher Corporation
  • PerkinElmer Inc.
  • Agilent Technologies Inc.
  • Bio-Rad Laboratories Inc.
  • Thermo Fisher Scientific Inc.
  • uFluidix Dolomite Centre
  • F. Hoffmann-La Roche AG
  • Fluidigm Corporation
  • Micronit Microfluidics BV
  • Abbott Laboratories

Overview of Microfluidics Market Research Report 2019-2023:-

The global microfluidics market was valued at USD 4.552 billion in 2017, and is expected to reach USD 111.95 billion by 2023, recording a CAGR of 17.45% over the forecast period of 2019-2023. The scope of the report is limited to solutions offered by major players, including providers of microfluidic chips, micro pumps, and micro needles. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, and rest of the world.

Owing to the strong demand for faster, cheaper, and decentralized diagnostics, and its increasing use in molecular diagnostics, the market for microfluidics is expected to witness healthy growth during the forecast period. Microfluidics deals with the behavior, control, and manipulation of fluids in a geometrically constrained scale. The increasing incidences of chronic diseases are demanding the use of microfluidics in the healthcare sector. The early detection and personalized treatment of lifestyle diseases has created a demand for this technology, which has gained prominence, in order to cater to the demands of a growing geriatric population.

Thus, the market is mainly driven by the growing pharmaceutical and biotechnology research funding, rising incidences of lifestyle diseases, escalating geriatric population, intensifying demand for point-of-care testing, increasing demand for miniaturized microfluidic chip as it offers lower testing time and improved portability, and growing stem cell and cancer research. Further, breakthroughs, such as the recently published method of 3D printing microfluidic lab-on-a-chip devices, leading to the evolution of a cost-effective mass-production process of diagnostic devices, and smartphones paired to microfluidics, enable an increased range and ability of POC testing. The development of devices, such as the TRI analyzer, offers opportunities for the market players to expand their presence. However, complex and time-consuming regulatory approval process, high cost of integrated instruments and microfluidic sensors, and lack of visibility of microfluidics products are deterring the growth of this market to a certain extent.

Point-of-Care Testing to Offer Growth Opportunities

Point-of-care testing is necessary to provide a quick diagnostic result for a prompt on-site diagnosis and treatment. A prompt analysis time and high sensitivity, with a sample-to-answer format, are the most important features for current point-of-care testing diagnostic systems. Microfluidic lab-on-a-chip technologies have been considered as one of the promising solutions that can meet the requirements of the POCT, as they can miniaturize and integrate most of the functional modules used in central laboratories into a small chip. Future developments of the microfluidics chip include the ability to quantify plasma proteins and cell surface receptors expression levels, to gain a more holistic picture of the patient’s immune system, as well as further validation in multi-center clinical studies.

IVD was the largest application segment in the microfluidics market

Factors, such as increasing incidence of chronic diseases, growing geriatric population, increasing healthcare spending in emerging countries, growing demand for point-of-care testing, emerging technologies like molecular diagnostics, and growing out-of-pocket healthcare expenditure, are boosting the growth of the in-vitro diagnostics market. Owing to its broad range of applications, such as POC, IVD accounted for a significant share of revenues in 2017. Moreover, companies, such as Abbott, Roche Diagnostics, Cephied, and Becton, Dickinson and Company (BD), are adopting microfluidics in the IVD.

North America Dominated the Market

North America accounted for the largest share in 2017, followed by Europe, Asia-Pacific, and rest of the world respectively. The presence of prominent market leaders, such as Danaher Corporation and Thermofisher Scientific Inc. in the United States, also contributes significantly to the revenues in the region. Further, the introduction of advanced technologies, large number of researches to improve the sample volume optimization techniques, and the strong market growth of POC diagnostics also contribute to the market’s growth in the region. Moreover, strong financial backup by organizations is expected to pour into new POC diagnostics for chronic diseases, such as cancer and stroke. For instance, in December 2011, Grand Challenges Canada and the Bill & Melinda Gates Foundation donated USD 31 million to innovate POC diagnostics.

The key players in this market include –
• Danaher Corporation
• PerkinElmer Inc.
• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Thermo Fisher Scientific Inc.

Other players include-
• uFluidix
• Dolomite Centre
• Micronit Microfluidics
• Abbott
• F Hoffmann-La Roche AG
• Fluidigm Corporation

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Reasons to Purchase this Report

  • Provision of the impact of opportunities offered by technological advancements in microelectronics and computing techniques.
  • Analysis of various perspectives of the market, with the help of Porter’s five forces analysis.
  • Growth of various products, such as passive, active, and ultra-smart textiles.
  • Regional analysis of the market studied.
  • Identification of the latest developments, market shares, and strategies employed by the major market players.
  • Three months analyst support along with the Market Estimate sheet (in Excel).

    Key questions answered in the Microfluidics Market Report are.

    • What will the market size be in 2023 and what will the growth rate be?
    • What are the key market trends?
    • What is driving this market?
    • What are the challenges to market growth?
    • Who are the key vendors in this market space?
    • What are the market opportunities and threats faced by the key vendors?
    • What are the strengths and weaknesses of the key vendors? 

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    This report includes the estimation of market size for value (million US$) and volume (K Units). Both top-down and bottom-up approaches have been used to estimate and validate the market size of Microfluidics market, to estimate the size of various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.

    “We also can offer customized report to fulfill special requirements of our clients. Regional and Countries report can be provided as well.”

    Major Points from TOC of Microfluidics Market Research Report 2019-2023:

    1. INTRODUCTION
      1 Study Deliverables
      1.2 Study Assumptions
      1.3 Scope of the Study
    1. RESEARCH METHODOLOGY
    1. EXECUTIVE SUMMARY
    1. MARKET DYNAMICS
      1 Drivers
      4.1.1 Rise in Defence Expenditure of Many Countries
      4.1.2 Increasing Demand of Lightweight Materials in the Industry
      4.2 Restraints
      4.2.1 Need for High Investments in R&D
      4.2.2 Other Restraints
      4.3 Industry Value-Chain Analysis
      4.4 Porters 5 Force Analysis
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Consumers
      4.4.3 Threat of New Entrants
      4.4.4 Threat of Substitute Products and Services
      4.4.5 Degree of Competition
      4.5 Price Analysis
    1. MARKET SEGMENTATION
      1 By Application
      5.2 End-user Sector
      5.2.1 Residential
      5.2.2 Commercial
      5.2.3 Institutional
      5.3 Geography
      5.3.1 Asia-Pacific
      5.3.2 North America
      5.3.3 Europe
      5.3.4 South America
      5.3.5 the Middle East & Africa

      Continued…

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