Detail
Analysis of Global Microfluidics
Devices Market with respect to region specific market growth and
competitive analysis on the basis of major players present in the market.
Detail analysis on possible segments and sub segments of the market. Along with
this regional analysis of the market which includes America, Europe, Asia
Pacific and Middle East and Africa. Forecast till 2023
The
Microfluidics Devices Market is continually growing mainly due to the important
role played by these devices in the integration, parallelization, and
miniaturization of various tests in the fields of biological research,
diagnostics, and drug development. Moreover, the widely accepted microfluidic
technology that has several applications is accelerating the market on the global
level, allowing integration of many medical tests on a single chip.
According
to the recently published study report by Market Research Future
(MRFR), the global microfluidic device market is expected to touch
a phenomenal valuation by 2024, registering a strong CAGR throughout the
forecast period (2016-2024).
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Additional
factors positively impacting the growth of the market include the increasing
prevalence of chronic diseases such as heart-related diseases and as cancer,
prompting the demand for new drugs. Microfluidics devices are becoming
popular and are garnering tremendous traction, increasingly, attributing to
their efficacy across the pharmaceutical and life science sector.
Resultantly,
over the past couple of years, the microfluidic device market is increasingly
accounting for a significant market share, worldwide. Vast advancements in technology
and the huge uptake of these advanced technologies drive the growth of the
microfluidic device market.
Additionally,
factors such as the significantly increasing pharma industry and the increasing
occurrences of lifestyle-related diseases and chronic diseases that require
routine vital statistics analysis are propelling the market growth, augmenting
the market demand for these devices.
Simultaneously,
the increase in the analytical and commercial application of these devices and
the use of microfluidic products for miniaturization of the chip such factors
are driving market growth.
However,
the stringent regulatory requirements to decelerate growth and geometrical and
surface chemistry issues are some of the factors that are obstructing the
growth of the market. On the other hand, factors like the growing R&D
investment in life sciences and pharmaceuticals are increasing the demand and
uptake of the point of care testing, as an effective method for delivery of
treatment, are projected to escalate the market growth during the forecast
period.
Major
Players:
Fervent
players leading the global microfluidic device market include Abbott
Laboratories, F Hoffmann-La Roche AG, Siemens Healthcare GMBH, Agilent
Technologies, Inc., Fluidigm Corporation, Bio-Rad Laboratories, Inc, Dolomite
Centre, Cepheid, Raindance Technologies, Inc., Johnson & Johnson, Micronit
Microfluidics, and Becton, Dickinson & Company among others.
Industry/
Innovation/ Related News:
February
28, 2019 --- A research team from the
biomedical engineering dept., The University of California announced the
development of a new wearable respiratory sensor using a microfluidic chip to
monitor children with chronic pulmonary conditions. This new bio-wearable
respiratory device will allow doctors an accurate, fast, and affordable method
to monitor children with chronic pulmonary conditions.
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February
14, 2019 --- A team of researchers from the
Singapore University of Technology and Design (SUTD) announced the development
of a customizable microfluidic system that can generate complex dispersions of
liquid droplets that are otherwise known as emulsions as they are not soluble
in another liquid. This is a single device consisting of a 3D-printed connector
and a needle secured by elastic tubes and aligned to a common axis.
Global
Microfluidics Device Market – Segments
MRFR
has segmented the analysis into four key dynamics for enhanced understanding
By
Application: Drug Delivery, Pharmaceutical, Analytical Device, Environmental
& Industrial, and Life Science Research among others.
By
Industry: Microfluidic Devices, Microfluidics, and others.
By
Material: Polymer, Glass, Silicon, and others.
By
Regions: Asia Pacific, Europe, North America,
and the Rest-of-the-World
Global
Microfluidics Device Market – Regional Analysis
North
America heading with its one of the world's best medical facilities, dominates
the global microfluidics devices market. The US, led by the huge technological
advancements and high per capita healthcare expenditures accounts for the
leading market for the microfluidic devices in the region.
Some of
the factors such as the availability of technologically advanced medical
devices, the presence of well-established healthcare infrastructure, and
skilled professionals are positively impacting the growth in the regional
market.
The
microfluidic device market in the European region accounts for the
second-largest market, globally. Factors such as the resurging economy
that is availing the best possible healthcare, increasing healthcare
expenditures, substantially, and the government support that encourages
manufacturers of microfluidics devices to develop new and better devices are
propelling the growth of the regional market.
The
Asia Pacific microfluidics devices market is emerging as a profitable market
mainly due to the rapidly improving healthcare infrastructure. Moreover,
factors positively impacting the growth in the regional market include the
rapidly increasing population that is dictating the demand for quality
healthcare, continually and the spreading awareness towards the availability
and benefits of these devices. Rapidly developing economies are providing
immense opportunities in the microfluidics devices market in the region.
Besides,
the increasing adoption of technologies is impacting market growth in the
region, positively. Furthermore, growing healthcare concerns are increasing the
market size of the microfluidic device market.
Global
Microfluidics Device Market – Competitive Analysis
Fiercely
competitive, the microfluidics market is well-established with the presence of
several large and small-scale players. These players incorporate strategic
initiatives such as collaboration, acquisition, expansion, product & technology,
and partnership to gain a competitive edge and to maintain their market
positions. They invest substantially in R&D to develop advanced systems.
High
growth opportunities that the market demonstrates are in turn, intensifying the
competition in the already highly competitive market, attracting several new
entrants to the market, further.
Manufacturers
of microfluidics devices invest R&D activities substantially to develop
advent technology and to acquire promising firms in the rapidly developing
regions to meet their expansion plan. The rising government funding is
motivating key companies to manufacture innovative devices that can match the
changing trends and needs of the customers.
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