Global Microfluidic Devices Market size is projected to be valued $14 Billion by 2024; with a CAGR of 22.3% from 2017 to 2025. Microfluidics is an evolving scientific field with numerous analytical applications and commercial potential. Microfluidic devices offer many advantages for genomics including reduced reagent consumption, improved test speed, and efficacy. It has various applications in field of medicine, cell biology research and protein crystallization. Microfluidic devices would show an increased growth trend due to its efficacy in the field of medical treatment.
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.
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 Bio-Rad Laboratories, Inc., Johnson and Johnson, Abbott Laboratories, Becton, Dickinson and Company, Micronit Microtechnologies B.V., Siemens Healthcare GmbH, F. Hoffmann-La Roche AG, Agilent Technologies, Fluidigm Corporation, and Akonni Biosystems, among others.
The report covers
Scope of the Global Microfluidic Devices Market
Material Type Segments