Microfluidic Devices Market Is Set To Hit USD 8 Billion By 2024

By Goldstein Research || 2018-02-02 7:07:17 AM

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Microfluidizer technology ensures that fluid pressure is converted to high shear forces more efficiently and consistently in the devices in addition with, exclusive fixed-geometry, flexibility to use less energy to achieve particle size reduction targets, full production-run volume procedures and health insurance facilities tends to drive the microfluidic devices market in the near future.  

Global Microfluidic Devices Market Outlook 2024

According to Goldstein Research, global microfluidics market size accounted for USD 2.62 billion in 2016 and is projected to grow at a CAGR of around 16.98% over the forecast period. The global microfluidic devices market was USD 1.82 billion in 2016 and is likely to grow at a CAGR of 21.23% over the forecast period to reach USD 8.49 billion by 2024.

From end-user segment standpoint, pharmaceutical & life science research and clinical & veterinary diagnostics tends to be emerging categories and dominate the market in the future.

Geographically, European business sector is quite a major share holder in microfluidics device market ascribable to expanding analytic prerequisites. In 2011 the European Federation of Pharmaceutical Industries and Associations predicted that the R&D interest in Europe was about USD 40.2 billion, which led to expanded creation of drugs in pipeline.

Paper-Based Analytical Devices (PADs)

PADs are build up from a combination of wax and ordinary filter paper in order to give a cost-effective alternative to traditional assays. The innovation in the field of developing microfluidic devices is due to the stimulating need for low cost diagnostic tools in developing countries. Earlier electrochemical or ePADs came into being for metabolic markers such as glucose. Currently, research is going on new technology to profile enzymes being released by bacteria such as E. coli and Salmonella which are huge health concerns across the world.

 “Global Microfluidic Devices Market Outlook 2024” contains detailed overview of the global microfluidic devices market in terms of market segmentation by material type and end user.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global microfluidic devices market report also provides competitive outlook for some of the major players which includes profiling of companies such as Abbott Laboratories, Agilent Technologies, Bio-Rad Laboratories, Cepheid, Dolomite, Roche, Fluidigm Corporation, Johnson & Johnson, Micronit Microfluidics Device, Beckton, Dickinson and Company, RainDance Technologies, and Siemens Healthcare etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global microfluidic devices market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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