The global microfluidics market size was valued around USD 2.62 billion in 2016 and is projected to grow at a CAGR of around 16.98% over the forecast period. The global microfluidic devices market was valued at USD 1.82 billion in 2016 and is likely to grow at a CAGR of 21.23% during 2016 to 2024 to reach USD 8.49 billion by 2024.
Global Microfluidic Devices Market
Market Overview
Microfluidics is the application of fluid flow to channels smaller than 1 millimeter in at least one dimension in devices or plumbing at the microscale - controlling fluids in channels with a diameter comparable to a human hair or smaller. Microfluidics devices can lessen the reagent consumption, spare the well controlled mixing and particle manipulation, integrate and automate multiple assays known as lab-on-a-chip , and ease the imaging and tracking phenomenon.
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For instance, formation and purification of tailored liposome for drug delivery using a module-based micro continuous-flow system, single-cell deep phenotyping of IgG-secreting cells for high-resolution immune monitoring, multiscale cytometry and regulation of 3D cell cultures on a chip, nano-integrated suspended polymeric microfluidics SPMF platform for ultra-sensitive bio-molecular recognition of bovine growth hormones, massively parallel and multiparameter titration of biochemical assays with droplet microfluidics, separation of extracellular nanovesicles and apoptotic bodies from cancer cell culture broth using tunable microfluidics systems, etc are the examples of microfluidics implementation in multiple scenarios.
Major players such as Roche, Illumina, Agilent, PerkinElmer, Danaher etc opted for private funding which is a key sustainability strategy.
Hoffmann-La Roche Ltd granted USD 18.2 million to Purigen Biosystems for developing bench top system for genomic testing, in 2016. Microfluidics Microfluidizer machines give superior results in context of greater particle size reductions, tighter particle size distributions, repeatability and seamless scalability.
Market Segmentation
• By Material Type
o Silicon-Based Microfluidics
o Glass-Based Microfluidics
o Polymer-Based Microfluidics
o Other Materials-Based Paper & Ceramics Microfluidics
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- By End User
o Industrial & Environmental
o Drug Delivery
o Pharmaceutical & Life Science Research
o Analysis Toxicity Screening, Proteomic Analysis & Gene Sequencing
o Clinical & Veterinary Diagnostics
o Point of Care Diagnostics - By Geography
o North America US, Canada {Market Share % , Market Size USD Billion , Adoption Rate % }
o Europe UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe {Market Share % , Market Size USD Billion , Adoption Rate % }
o Middle East and Africa GCC Countries, North Africa, South Africa and Rest of Middle East & Africa {Market Share % , Market Size USD Billion , Adoption Rate % }
o Latin America Brazil, Mexico and Rest of Latin America {Market Share % , Market Size USD Billion , Adoption Rate % }
o Asia Pacific China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific {Market Share % , Market Size USD Billion , Adoption Rate % }
o Rest of the World {Market Share % , Market Size USD Billion , Adoption Rate % }
Growth Drivers and Challenges
Augmentation of R&D investment in pharmaceuticals, life science and rising point of care testing demand, trending lab-on-chip miniature devices, adoption of home healthcare POCT , improving the efficacy of treatment,evaluating drugs and manipulating cells for the treatment of diseases related to heart and cancer, wider insurance infrastructure facilities, precise and accurate results for location of sicknesses, expanding analytic prerequisites, demand for low-volume sample analysis, high-throughput screening methodologies, high return on investment and helps in cost control by minimizing errors tends to drive the market of microfluidic devices.
Time consuming procedures in order to implement the new applications in healthcare sectors is the major challenge for this market. Less implementation of emerging microfluidics technology in available applications hamper the growth of microfluidic devices market.
Market Size and Forecast 2016-2024
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On the basis of end use industry, POCT valued around USD 0.47 billion in 2016 and is projected to reach USD 2.8 billion by 2024, at a CAGR of 25% over the forecast period.
Geographically, North America dominate the microfluidic devices market with the expected valuation of USD 2.67 billion by 2024, at a CAGR of 20% over the forecast period.
Key Market Players
• Abbott Laboratories
o Synopsis
o Business Strategy
o Product Portfolio
o SWOT Analysis
- Agilent Technologies
• Bio-Rad Laboratories
• Cepheid
• Dolomite
• Roche
• Fluidigm Corporation
• Johnson & Johnson
• Micronit Microfluidics Device
• Beckton, Dickinson and Company
• RainDance Technologies
• Siemens Healthcare
Scope Background
Market Synopsis
Market Segmentation
Global Microfluidics Device Market is segmented as follows:
• By material type Market Size, Demand Analysis and Growth Analysis
• By end-user Market Size, Demand Analysis and Growth Analysis
Global Microfluidics Device market report covered insights of below mentioned regions:
• North America U.S., Canada {Market Size, Growth Analysis and Opportunity Analysis}
• Latin America Argentina, Mexico, Brazil and Rest of Latin America {Market Size, Growth Analysis and Opportunity Analysis}
• Europe Germany, Italy, Spain, France, The U.K., Netherlands, Sweden, Hungary, Russia, Poland, Rest of Europe {Market Size, Growth Analysis and Opportunity Analysis}
• Asia-Pacific China, India, Singapore, Japan, Australia, New Zealand, South Korea and Rest of Asia Pacific {Market Size, Growth Analysis and Opportunity Analysis}
• Middle East and North Africa MENA {Market Size, Growth Analysis and Opportunity Analysis}
• Rest of World {Market Size, Growth Analysis and Opportunity Analysis}
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