New York, NY, April 17, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Microfluidics Market by Component (Microfluidic Chips, Micro Pumps, Micro Needles, and Others), by Material (Polymer, Silicone, and Glass), and by Application (Drug Delivery, High-Throughput Screening, Point-of-Care Diagnostics, Clinical Diagnostics, and Lab Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global microfluidics market was valued at approximately USD 5,742 million in 2018 and is expected to generate around USD 12,380 million by 2025, at a CAGR of around 11.6 % between 2019 and 2025.
Microfluidics is a science of manipulating and controlling small amounts of fluids, especially in microliters and Pico-liters inside small tunnels and chips. These fluids have numerous applications in the healthcare industry, as they have made handling of fluids in laboratory much easier and reduced the use of reagents and samples. A very small amount of this fluid is required for testing that offers an effective alternative to conventional laboratory techniques. This makes things much simpler and faster as compared to conventional technologies along with having a wide range of application in various industries.
Browse through 54 Tables & 12 Figures spread over 110 Pages and in-depth TOC on “Global Microfluidics Market Size & Growth 2018 Report: Industry Share, Demand, Segments, Application, Analysis and Forecast 2025”.
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There are various factors expected to drive the global microfluidics market in the future, include wide applications of microfluidics in various areas, such as glucometer kits, pregnancy test kits, etc., increasing point-of-care diagnostics, rising in vitro diagnostics, growing prevalence of chronic diseases like diabetes. As per the International Diabetes Federation 2017, there were around 425 million adults living with diabetes and the diabetic population is expected to reach around 629 million by 2045. Moreover, the increased use of portable devices and augmented demand for faster results for quicker diagnosis and treatment are also expected to promote the microfluidics market over the forecast time period. On the other hand, the increasing applications of microfluidics technology will create ample opportunities in the microfluidics market in the future. However, complex regulatory approval process and low adoption in developing countries due to high prices may inhibit the growth of the global microfluidics market over the forecast time period.
The global microfluidics market is classified into the material, component, and application. Based on the component, the microfluidic market includes micro needles, micro pumps, microfluidic chips, and others. Microfluidic chips held the largest market share in 2018. Based on material, the microfluidics market includes silicone, glass, and polymer. The polymer segment is expected to dominate the microfluidics market over the forecast time period. Based on application, the microfluidics market includes point-of-care diagnostics, high-throughput screening, drug delivery, clinical diagnostics, and lab analytics. Point-of-care diagnostics are expected to dominate the microfluidics market over the estimated timeline.
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North America represents a developed region for microfluidics market globally. The developed economies of this region are expected to support the growth of the North American microfluidics market in the future, due to the increased demand for point-of-care devices and increased prevalence of chronic diseases. The U.S. is expected to show the highest CAGR over the forecast time period.
Europe is the second largest growing region for microfluidics market globally. It is expected to grow significantly over the forecast time period, due to the various technological advancements and wide applications of microfluidics. Additionally, the research and development related to drug development will also fuel the growth of the European microfluidics market over the estimated time period.
Browse the full “Microfluidics Market by Component (Microfluidic Chips, Micro Pumps, Micro Needles, and Others), by Material (Polymer, Silicone, and Glass), and by Application (Drug Delivery, High-Throughput Screening, Point-of-Care Diagnostics, Clinical Diagnostics, and Lab Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/microfluidics-market
The Asia Pacific is likely to emerge as the fastest growing microfluidics market globally over the forecast time period, due to the increasing awareness among people, the growing prevalence of chronic diseases, rising geriatric population, and the presence of developing economies, such as India and China.
The Middle East and Latin America and Africa are expected to grow moderately over the forecast time period in the global microfluidics market, due to the various government initiatives for creating awareness among people and the increasing healthcare facilities across both the regions.
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Some key players of the global microfluidics market are Thermo Fisher Scientific Inc., F. Hoffmann La-Roche Ltd., Bio-Rad Laboratories, Inc., Danaher Corporation, Agilent Technologies, Inc., and PerkinElmer, Inc.
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This report segments the global microfluidics market into:
Global Microfluidics Market: Component Analysis
- Microfluidic Chips
- Micro Pumps
- Micro Needles
- Others
Global Microfluidics Market: Material Analysis
- Polymer
- Silicone
- Glass
Global Microfluidics Market: Application Analysis
- Drug Delivery
- High-Throughput Screening
- Point-of-Care Diagnostics
- Lab Analytics
- Clinical Diagnostics
Global Microfluidics Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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