The Global Microfluidic Devices Market is growing rapidly and is expected to reach USD 13.24 billion. Over the last few years, the microfluidic devices have played an important role in the pharmaceutical industry, especially, in the processes of drug discovery, development and delivery. This has helped to improve healthcare management and medical outcomes.
Microfluidic Devices can carry out reaction and detection at lower cost and with better efficiency. Thus, the demand for these devices has increased from the pharmaceutical industry. Additionally, overall market has been experiencing development due to recent product invention, and partnerships and mergers by various industries.
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Biological and medical fields are leading the market growth owing to high demand from these sectors. The global market is expected to witness rapid growing due to wider applications in the field of pharmaceutical industry, medical device industry, and in-vitro diagnostic industry. Furthermore, increasing awareness regarding the importance of controlled drug delivery is likely to add fuel to the global microfluidic devices market growth.
Various materials are used to make microfluidic devices such as glass, polymer, ceramics, and silicon. The fabrication techniques for silicon and glass microfluidic devices are improving, making them demanding materials for manufacturing devices. The devices are improving with improved fabrication techniques used for the manufacturing of silicon and glass microfluidic devices. Therefore, it is providing opportunities to new entrants to come up with innovating idea, which, in turn, is likely to boost the demand for the devices.
However, stringent regulatory norms imposed by the governments of various countries may slow the growth of market. Since these regulations are imposed to consistently deliver quality medical devices, it has become difficult to operate the viable business models. Moreover, some geometrical and surface chemistry issues are some of the major challenges occur during the construction of a microfluidic device such as larger capillary forces, possible evaporation.
Global Microfluidic Devices Market – Key Players
Some of the major players in this market are:
- Bio-Rad Laboratories, Inc.
- Hoffmann-La Roche AG
- Abbott
- Raindance Technologies, Inc.
- Agilent technologies, Inc.
- Cepheid
- Siemens Healthcare GmbH
- Dolomite Centre
- Fluidigm Corporation
- Micronit microfluidics
Global Microfluidic Devices Market – Regional Analysis
The Global Microfluidic Devices Market is segmented into North America, Europe, and Asia Pacific.
North America was leading market player across the globe in 2016 and is expected to reach USD 4.88 billion by the end of the forecasted period.
Europe is the second largest region in the Global Microfluidic Devices Market, which is expected to grow at a CAGR of 22.8%.
Asia Pacific region is expected to be the fastest growing region in the global microfluidic devices market.
Global Microfluidic Devices Market – Industry News
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.
Global Microfluidic Devices Market – Dynamics
Drivers
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.
Restraints
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.
Global Microfluidic Devices Market – Segmentation
Microfluidic devices market has been segmented on the basis of industry, which comprises of in-vitro diagnostics, pharmaceutical, medical devices. On basis of the materials, market is segmented into polymer, glass, silicon. On the basis of the application, the market is segmented into clinical, and veterinary diagnostics, point of care, analytical devices, drug delivery, environmental, and industrial applications. On the basis of geographic region, the microfluidic devices market is segmented into three key regions: North America, Europe, and Asia.
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Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
Continued….
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