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Microfluidics Market by Application, Component, Material - Global Forecast to 2023

Microfluidics Market: Global Forecast until 2023

  • March 2018
  • 230 pages
  • ID: 4450350
In this report:
According to Germany Trade and Invest, an economic development agency of the Federal Republic of Germany, the country spends around ##% of its total GDP on R&D. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), Germany spent around USD ##,## million (EUR ##,## million) for pharmaceutical R&D in 2016.

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Microfluidics market is estimated to rise at a compound annual growth rate of 22.60 percent

The microfluidics market is estimated to grow ~$27.9B by 2023 from estimated ~$10.1B in 2018, at a compound annual growth rate (CAGR) of 22.60 percent. Fast returns on investment along the quick results and enhanced portability of the medical equipment embedded with microfluidics technology are the factors projected to drive the industry during the estimate period. Nevertheless, complex and time-consuming regulatory approvals process for the microfluidics technology into existing workflow is one of the factors restraining the increase of this market.

The in vitro diagnostics application segment is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period

On the basis of application type, the microfluidics market is divided into in vitro diagnostics, pharmaceutical and life science research, drug delivery, and laboratory testing.The in vitro diagnostics segment is anticipated to observe the highest rise during the estimate period.

High prevalence of infectious and lifestyle diseases, relatively lower turnaround times exhibited by POC diagnostics compared to central lab testing methods, quick increase in aging population, and the introduction of technologically advanced products are some of the top factors driving the increase of the microfluidics market for in vitro diagnostics applications during the outlook period.

The polymer-based microfluidics segment of microfluidic components market is forecasted to observe the highest increase during the estimate period"

On the basis of material, the microfluidics component market is broken down into polymer-based microfluidics, glass-based microfluidics, silicone-based microfluidics, and other material-based microfluidics.The polymer-based microfluidics market is anticipated to witness the highest rise during the outlook period.

The high increase rate of this segment is assigned to the greater preference for polymers as a substrate in microfluidic devices among manufacturers, reduced costs, enhanced profit margins, simple manufacturing process, and wider applications in pharmaceutical research, academic laboratories, and molecular diagnostics. Polymers are quickly evolving and are widely used for different microfluidic devices due to the different benefits combined with their use including diversity in material properties suitable for particular applications and high flexibility for micro-manufacturing processes.

Asia Pacific to witness the more significant rise during the estimate period

Asia-Pac is anticipated to witness the highest increase during the outlook period (2018 to 2023). A number of Elements such as low labor and raw material costs, quickly increasing pharmaceutical and biotechnology sectors, big population, and increase in investments due to favorable economic conditions (especially in China and India (IN)) are responsible for the high increase of the microfluidics market in this area.

Break of primary members taking part from supply side was as mentioned below:

• By Company category - Tier 1 - 53.0 percent, Tier 2 - 26.0 percent and Tier 3 - 21.0 percent

• By Description - C-suite - 42.0 percent, D-level - 26.0 percent, Others - 32.0 percent

• By Region -North America - 26.0 percent, Europe (EU) - 35.0 percent, Asia Pacific (APAC) - 20.0 percent, Latin America- 11.0 percent, Middle East (ME) and African continent - 8.0 percent

Some of the main market actors in the microfluidics market are Danaher, Thermo Fisher, PerkinElmer, Agilent, Bio-Rad, Becton Dickinson (NYSE:BDX), Becton, Dickinson and Company (BD) (NYSE:BDX), Roche, Illumina, Fluidigm Microfluidics, and QIAGEN. Other main actors contain Dolomite Microfluidics, GYROS PROTEIN TECHNOLOGIES AB, Sphere Fluidics, OPKO Health, Waters, thinXXS Microtechnology, Abaxis, bioMérieux, Abbott, Dolomite Microfluidics, Microfluidic ChipShop, Elveflow, Cellix, Micronit Microtechnologies, MicroLiquid, MiniFAB, uFluidix, Micralyne, and Fluigent.

Segment Research

The market research examines the microfluidics market and aims at estimating the market value and upcoming growth potential of this market established on several segments including application, component, material, and area. The industry report includes revenue review for different application of microfluidics equipment and components across the world and a competitive study of the top actors in this sector together with their company descriptions, product offerings, latest developments, SWOT study, and key industries strategies.

Reasons to Buy the Report

The study will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector, which in turn would benefit them, collect a greater share of the market. Companies obtaining the analysis could use one or any combination of the below-mentioned strategies to enhance their rank in the sector.

This industry report offers business insights into these pointers:

• Market Uptake: Exhaustive data on product types provided by the top actors in the overall microfluidics market. The market research examines the microfluidics market by application, component, material, and area.

• Product Enhancement/Innovative products: In-depth understanding on upcoming trends and launches of new product in the overall microfluidics market

• Market Development: Highlighted information on the profitable emerging sectors by application, component, material, and area

• industry diversification: Complete information about recent products or products consolidations, increasing geographies, recent evolutions, and market investments in the overall microfluidics market

• opposing assessment: In-depth assessment of increase strategies, product offerings, and capabilities of leading actors in the overall microfluidics market

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