Microfluidics is an evolving scientific field with numerous analytical applications and commercial potential. Microfluidics is an enabling technology for integration, industrialization, miniaturization and parallelization of tests in diagnostics, drug development and biological research. Microfluidic devices have several applications in the field of medicine, cell biology research and protein crystallization. It also has many applications in other areas such as drug screening, sugar testers, chemical micro reactor, microprocessor cooling and micro fuel cells.
North America dominates the global microfluidic devices market. Rising aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and proper insurance coverage are driving the use of microfluidic devices in the market. Similarly, in Europe, the microfluidic device market is driven by rising diagnostic requirements due to increasing lifestyle associated diseases, aging population and improving healthcare infrastructure. Asia is becoming one of the most attractive markets for medical device companies. The growth for microfluidic devices is much faster than developed countries due to widening health insurance penetration and up-gradation of health care systems.
Rising demand for point of care testing, miniaturization of chip, and increasing demand for microfluidic devices in genomics and proteomics are the key growth drivers for the microfluidic device market. New trends in healthcare, such as healthcare at home supports point of care testing (POCT) as the most efficient and effective delivery of healthcare. Miniaturization reduces the cost for screening compounds in pharmaceutical companies for cell biology problems. On the other hand, strict regulatory requirements are a major concern for the industry. Safety, performance and consistent quality of medical devices are a necessity for public health. Thus, it leads to strict and complex regulations and standards for global affiliation of medical devices.
Different materials such as glass, silicon, polymer metal and ceramics, are used to manufacture microfluidic devices. Change in material mix would provide opportunity for new market entrants, which would further drive the growth of the microfluidic device market. Research and commercialization emphasis has shifted to micro devices made entirely from polymeric material. However, major challenges faced by the microfluidic devices industry are the geometrical and surface chemistry issues during manufacturing of a device. In complex microfluidic devices, geometrical and surface chemistry issues combine and lead to design and manufacturing difficulties
This report provides an in-depth analysis of estimation of the microfluidic device market for the period 2013-2019, considering 2013 as the base year for calculation. In addition, data pertaining to current market dynamics including market drivers, restraints, trends and strategic developments has been provided in the report. The microfluidic device market is categorized on the basis of material used for manufacturing microfluidic devices, industry, application and geography. Based on industry, the microfluidic device market comprises in-vitro diagnostics, pharmaceuticals and medical devices. The application market comprises point of care testing, analytical devices, pharmaceutical and life science research, clinical and veterinary diagnostics, drug delivery and environment and industry.
In the geographical analysis, the report identifies and analyses market size and forecast of North America, Europe, Asia and Rest of the World (Row). Some of the major players in the microfluidic device market are Roche Diagnostics, Abbott Laboratories, Siemens Healthcare, Agilent Technologies, Bio-Rad Laboratories, Inc, Fluidigm Corporation and Johnson & Johnson. These key market players have been profiled on the basis of attributes such as company overview, recent developments, growth strategies, sustainability, and financial overview.