Global Microfluidic Devices Market is estimated to reach $14.3 Billion by 2024; growing at a CAGR of 22.5% from 2016 to 2024. Microfluidic involves flow of liquid within micro-sized channels. Microfluidic device includes a set of micro channels imprinted or molded into material such as glass, silicon or a polymer. Microfluidic devices offer many advantages for genomics including improved test speed, reduced reagent consumption and efficacy. It has various applications in field of medicine, protein crystallization, and cell biology research. Microfluidic devices would show an increased trend due to its efficacy in the field of medical treatment.
Global Microfluidic Devices Market Size and Forecast, 2015 - 2024 (US$ Billion)
The rising demand for microfluidic devices in proteomics and genomics, miniaturization of chips, and increasing demand for point of care testing are the factors propelling the growth of the microfluidic devices market. Moreover, innovations in material mix also boosts the growth of the market. Difficulty to combine with current system as well as strict regulations and standards for global affiliation of medical devices may hinder the growth of the market. Furthermore, market expansion and collaboration between companies for providing advanced devices for diagnostics and drug delivery technologies could provide growth opportunities in the coming years.
The global microfluidic devices market is segmented as material type, industry, application, and geography. Material type is categorized into polymer, glass, silicon, and others. Industry is bifurcated into in-vitro diagnostics, pharmaceuticals, medical devices, and others. Furthermore, application is sub-segmented into clinical and veterinary diagnostics, pharmaceutical and life science research, point of care testing, analytical devices, drug delivery, environment and industrial, and others.
Global Microfluidic Devices market share by region, 2024 (value%)
Based on geography, global microfluidic devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
The key market players include Siemens Healthcare GmbH, F. Hoffmann-La Roche AG, Agilent Technologies, Fluidigm Corporation, Bio-Rad Laboratories, Inc., Johnson and Johnson, Abbott Laboratories, Becton, Dickinson and Company, Micronit Microtechnologies B.V., and Akonni Biosystems, among others.
The key takeaways from the report
- The report will provide detailed analysis of Microfluidic Devices Market with respect to major segments such as material type, industry, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Microfluidic Devices Market has been included in the report
- Profile of the key players in the Microfluidic Devices Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Microfluidic Devices Market
Material Type Segments
- Other Material Types
- In-Vitro Diagnostics
- Medical Devices
- Other Industries
- Clinical and Veterinary Diagnostics
- Pharmaceutical and Life Science Research
- Point of Care Testing
- Analytical Devices
- Drug Delivery
- Environment and Industrial
- Other Applications
- North America
- South Korea
- South America
- Middle East