Microfluidic Devices Market Information, By Industry (In-Vitro Diagnostics, Pharmaceutical, Medical Devices), By Material (Polymer, Glass, Silicon), By Application (Clinical and Veterinary Diagnostics, Point of Care, Analytical Devices, Drug Delivery, Environmental and Industrial Applications) – Forecast to 2024
Microfluidic Devices: Microfluidic Devices Market is expected to grow at a Healthy CAGR of Over 19.7% During the Forecast Period
KEY PLAYERS FOR MICROFLUIDIC DEVICES MARKET
Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Abbott, Raindance Technologies, Inc, Agilent technologies, Inc, Cepheid, Siemens Healthcare GmbH, Dolomite Centre, Fluidigm Corporation, Micronit microfluidics, and others.
MARKET DYNAMICS FOR MICROFLUIDIC DEVICES MARKET
Increasing applications with characteristic low fluids volumes manipulation, multiplexing, such as biotechnology, drug discovery, chemical analysis and others are chief drivers of the market. Growing adoption of automation, high-throughput screening, and other in laboratory and manufacturing is another driver of the market. Growing R&D investment in life sciences, pharmaceuticals, and point of care testing are demand led drivers of the market. Technical advantages over conventionally sized systems such as parameter control, automation, multitasking such as processing as well as analyzing, are also driving the demand especially in research.
High cost of devices, operating issues such as proprietary technology resulting in high switching costs, and others are constraining the market. Regulatory challenges, and operational issues such as high pressure requirements, rupture and leakages, clogging and low robustness to impurities sensitivity and geometrical problem in construction and resource intensive maintenance are other strong restraints on the market.
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REGIONAL ANALYSIS FOR MICROFLUIDIC DEVICES MARKET
North America is the largest market for microfluidic devices in 2015 with the U.S. clearly in the lead position. The faster uptake of technology, large biotech industry of the U.S., presence of large global players, growing prevalence of infectious diseases which is propelling the molecular diagnostics industry and other factors are driving the U.S. market.
Europe is the second-largest market as well as the second fastest growing region during the forecasted period led by Germany, U.K. and France. Asia is expected to be the fastest growing region with a CAGR of 22.8% during the forecast period of 2016 to 2024. Asia Pacific region is expected to be led by Japan followed by China, South Korea and India.
The Middle East and Africa market is expected generate slower growth on account of poor biotech and pharmaceutical industry and low demand due to poor socio-economic conditions.
MARKET SCENARIO FOR MICROFLUIDIC DEVICES MARKET
Microfluidics devices include micro volume manipulation of fluids typically in the sub-millimeter scale, with precision control. Microfluidics devices is a multidisciplinary field intersecting engineering, physics, chemistry, nanotechnology, and others. The microfluidic devices market is anticipated to generate $13.24 billion with a CAGR growth of 19.7% during the forecast period of 2016 to 2024.
SEGMENTATION FOR MICROFLUIDIC DEVICES MARKET
Industry – in-vitro diagnostics, pharmaceutical, medical devices. In-vitro diagnostics industry accounts for the largest share of 50.6% of the market by industry. Medical Devices is the fastest growing segment, which is expected to generate CAGR rate of 20.1% from 2016-2024
Materials – polymer, glass, silicon.
Application – clinical and veterinary diagnostics, point of care, analytical devices, drug delivery, environmental and industrial applications. Chips for lab analytics accounted for the largest market share.
April 2014 – Roche acquired IQuum for USD 275 million upfront and USD 175 million in contingent product liabilities, which is poised to strengthen its offerings in molecular diagnostics microfluidic devices. Roche marks the entry in point of care molecular diagnostics devices.
January, 2014 – bioMérieux, acquired BioFire Diagnostics Inc., maker of automated PCR molecular biology systems.
Nov, 2016 – Danaher Corporation acquired Cepheid.
Jun 30, 2016 – Luminex Corporation acquired Nanosphere, Inc.
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MAJOR TOC FOR MICROFLUIDIC DEVICES MARKET
CHAPTER 1. INTRODUCTION
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE
CHAPTER 2. RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH
CHAPTER 3. MARKET DYNAMICS
3.2.1 MATERIAL MIX CHANGES PROVIDING OPPORTUNITIES FOR NEW PLAYERS
3.2.2 INCREASE IN GLOBAL DEMAND FOR POINT OF CARE TESTING
3.2.3 MICROFLUIDIC TECHNOLOGIES FOR MINIATURIZATION OF CHIP
3.2.4 RISING DEMAND IN GENOMICS AND PROTEOMICS STUDIES
3.3.1 GEOMETRICAL AND SURFACE CHEMISTRY ISSUES
3.3.2 ADHERENCE TO STRINGENT REGULATORY REQUIREMENTS
3.4.1 NEW PRODUCT INNOVATIONS
3.4.2 RISE IN PARTNERSHIPS AND COLLABORATIONS
CHAPTER 4. MARKET FACTOR ANALYSIS
4.1 PORTERS FIVE FORCES MODEL
4.2 BARGAINING POWER OF SUPPLIERS
4.3 BARGAINING POWER OF BUYERS
4.4 THREAT OF NEW ENTRANTS
4.5 THREAT OF SUBSTITUTES
4.6 INTENSITY OF RIVALRY
4.7 COMPETITIVE POSITIONING OF KEY COMPETITORS AND MARKET SHARE ANALYSIS
CHAPTER 5. GLOBAL MICROFLUIDIC DEVICES MARKET, BY INDUSTRY
5.1 IN-VITRO DIAGNOSTICS (IVD)
5.3 MEDICAL DEVICES
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