16 October 2019
Visiongain has launched a new pharma report ‘’Microfluidics Prototype Market Report 2020-2030’’ by Component (Microfluidic Chips, Microfluidic Pumps, Sensors, Connectors, Accessories and Consumables, Others), Application (Point-of-Care Blood/Urine Analysis Cartridges, Cell Separation, In-Vitro Platforms for Stem Cell Research, Drug Efficacy Monitoring, Others), and Geography.
The global microfluidics prototype market is anticipated to grow at a lucrative CAGR of 19.1% and anticipated to surpass USD 2.5 Billion by 2030.
The market for microfluidic devices is anticipated to expand quickly due to increased demand for point of care testing (POCT) products, increased demand for proteomics and genomics, chip miniaturization, liquid biopsies, and personalized medicine among others. Increasing use in drug delivery systems, particularly inhalers and insulin pumps, and increasing awareness of the advantages of microfluidic devices are additional considerations that are driving market growth. Stringent regulations, on the contrary, may hamper the market growth of microfluidic devices over the forecast period.
Together with a few multinationals, startups are dominating the field of microfluidics. Research organizations from several universities are playing a significant role in technological exploration and led to spin-offs to create their own start-up companies. For example, researchers at the National University of Singapore developed a microfluidic chip in March 2018 that can detect nano-bioparticles at low cost without using fluorescent labels that provide disease diagnosis and quantification of viruses, DNA, proteins, and exosomes. Also, companies providing prototyping services to provide tailored alternatives to their customers. For example, Zeon Corporation offers prototyping services for microfluidic plastic chips that integrate ZEONEX and ZEONOR properties - two transparent cyclo-olefin thermoplastic polymers.
North America holds the majority of market share followed by Europe and will continue to dominate in the future as a result of rising healthcare awareness, rising geriatric population, increasing lifestyle and chronic diseases, technological developments for different home use applications, and extensive insurance infrastructure facilities. The microfluidic devices market in Europe is anticipated to have the second-largest share over the forecast period. This is owing to the increasing participation of market players and technological advancements.
Asia Pacific region is anticipated to experience the highest growth in terms of CAGR over the forecast period owing to the introduction of technologically advanced products by leading companies.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products to strengthen their position in the global microfluidics prototype market. Companies are also increasing their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Aline, Inc., Alvéole, Axxicon Moulds Eindhoven B.V., Dolomite, Eden-microfluidics, microLIQUID, Micronics, Inc., Potomac, thinXXS Microtechnology, uFluidix among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020–2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, Japan, China, and GCC.
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