Tag Archives: Microfluidic Device Systems Market

Microfluidic Device System Market to Grow at Striking 22.80% CAGR owing to Increasing Demand in Genomics

There has been a recent release of a new report on the global microfluidic device systems market by Transparency Market Research (TMR). The report suggests that the global microfluidic device market is estimated to grow at a CAGR of 22.8% during the period of 2013 to 2019. The market, which was valued at US$1.5 bn in 2013, will reach US$5.2 bn in 2019.The report, which is titled “Microfluidic Device System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” provides a comprehensive study on the analysis of the microfluidic device market for the period from 2014 to 2019, wherein 2013 is considered as the base year for calculation. The report contains data related to the current market dynamics, trends, market drivers, restraints, and also the strategic developments propelling the global microfluidic device systems market.

The report states that the rising demand for microfluidic devices in proteomics and genomics, point of care testing, and miniaturization of chips are the chief driving forces behind the microfluidic device systems market’s growth. Another factor that could fuel the growth of the microfluidic device systems market is a change in the material mix, which would provide an opportunity to new market entrants. Conversely, strict regulations and standards for global affiliation of medical devices as well as high performance and consistency in quality of the devices are some of the factors limiting the growth of the microfluidic device systems market. Manufacturing issues such as surface chemistry and geometrical issues also account for the challenges faced by the microfluidic device systems market.

The report categorizes the global market for microfluidic device systems chiefly on the basis of four criteria: geography, industry, application, and materials used in the manufacturing process of microfluidic devices.

On the basis of application, the market for microfluidic devices is segmented into pharmaceutical and life sciences research, point of care testing, environment and industrial, clinical and veterinary diagnostics, and drug delivery. Of these, the largest segment of the microfluidic devices market is the veterinary and clinical diagnostic application segment.

Geographically, the microfluidic devices market is segmented into Asia, North America and Europe, wherein North America dominates the global microfluidic devices market, while Asia is a rapidly developing region for the microfluidic devices market.

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On the basis of industry, the microfluidic devices market is segmented into in- vitro diagnostics, pharmaceuticals, and medical devices. Among these, in-vitro diagnostics is the largest industry and is estimated to reach US$3.3 bn in 2019.

The report profiles some of the prominent companies such as Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Becton Dickinson and Company, Agilent Technologies, Fluidigm Corporation, Bio-Rad Laboratories, and Johnson & Johnson, which are key players in the microfluidic devices market.

The market for microfluidics devices can be expected to rise as microfluidics is an evolving field with a huge potential commercially. With applications in various fields such as cell biology research, protein crystallization, and medicine, microfluidics will remain in the market due to its efficacy in the field of treatment.

 

Microfluidic Device System Market to Grow at Striking 22.80% CAGR owing to Increasing Demand in Genomics

Transparency Market Research has recently published a new research report that evaluates the overall global microfluidic device systems market and provides a trajectory of the market. The research report, titled “Microfluidic Device System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” studies microfluidic devices system as an evolving scientific field that has myriad analytical applications and a huge commercial potential.

It is a multidisciplinary field that uses engineering, chemistry, physics, nanotechnology, biochemistry, and biotechnology with practical solutions that use low fluid volumes achieve automation, multiplexing, and high-throughput screening. These devices are used in areas of cell biology research, medicine, and protein crystallization. The primary goal of these devices is to bring in efficiency and improve treatments.

According to the research report, the global microfluidic device systems market was valued at US$1.5 bn in 2013 and is expected to reach US$5.2 bn by 2019, rising at a CAGR of 22.80% between 2013 and 2019. The key factor propelling the global microfluidic device systems market is the high demand for these systems in chip miniaturization, proteomics, and genomics. Furthermore, the growing demand from the point-of-care testing segment will also boost this market.

The global microfluidic device systems market has been segmented on the basis of material, industry, application, and geography. The materials available in this market are glass, silicon, and polymer. The industries using these systems are pharmaceuticals, medical devices, and in-vitro diagnostics. On the basis of application this market is segmented into point of care testing, pharmaceutical and life science research, drug delivery, analytical devices, clinical and veterinary diagnostics, and environment and industrial. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

Of all the industries, the in-vitro diagnostics industry is the largest user of microfluidic device systems. This industrial segment was valued at US$949.6 mn in 2013 and is likely to reach US$3.3 bn in 2019, surging at a CAGR of 23.20% 2013 and 2019. Meanwhile, the medical devices segment will also play a vital role in the changing application dynamics of the global microfluidic device systems market.

Out of all the applications, the veterinary and clinical diagnostics held the largest share in the market. However, analysts predict that point of care testing segment will show a remarkable growth rate in the global microfluidic device systems market in the foreseeable future. The North America microfluidic device system market holds a dominant position as it was valued at US$644.5 mn in 2013 and is expected to reach US$2 bn in 2019, expanding at a CAGR of 21.70% from 2013 to 2019.

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Some of the key players in the global microfluidic device systems market are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Bio-Rad Laboratories, Agilent Technologies, Fluidigm Corporation, Becton Dickinson and Company, and Johnson & Johnson. The research report profiles these players and provides a complete analysis of the competitive landscape of the overall market. Furthermore, the report also presents a fair case of regulatory framework governing the overall market. The research and development activities, branding ideas, business and marketing strategies, and strategic mergers and acquisitions of these players have also been mentioned in this extensive research report.

Microfluidic Device System Market to Grow at Striking 22.80% CAGR owing to Increasing Demand in Genomics

There has been a recent release of a new report on the global microfluidic device systems market by Transparency Market Research (TMR). The report suggests that the global microfluidic device market is estimated to grow at a CAGR of 22.8% during the period of 2013 to 2019. The market, which was valued at US$1.5 bn in 2013, will reach US$5.2 bn in 2019.The report, which is titled “Microfluidic Device System Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” provides a comprehensive study on the analysis of the microfluidic device market for the period from 2014 to 2019, wherein 2013 is considered as the base year for calculation. The report contains data related to the current market dynamics, trends, market drivers, restraints, and also the strategic developments propelling the global microfluidic device systems market.

The report states that the rising demand for microfluidic devices in proteomics and genomics, point of care testing, and miniaturization of chips are the chief driving forces behind the microfluidic device systems market’s growth. Another factor that could fuel the growth of the microfluidic device systems market is a change in the material mix, which would provide an opportunity to new market entrants. Conversely, strict regulations and standards for global affiliation of medical devices as well as high performance and consistency in quality of the devices are some of the factors limiting the growth of the microfluidic device systems market. Manufacturing issues such as surface chemistry and geometrical issues also account for the challenges faced by the microfluidic device systems market.

The report categorizes the global market for microfluidic device systems chiefly on the basis of four criteria: geography, industry, application, and materials used in the manufacturing process of microfluidic devices.

On the basis of application, the market for microfluidic devices is segmented into pharmaceutical and life sciences research, point of care testing, environment and industrial, clinical and veterinary diagnostics, and drug delivery. Of these, the largest segment of the microfluidic devices market is the veterinary and clinical diagnostic application segment.

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Geographically, the microfluidic devices market is segmented into Asia, North America and Europe, wherein North America dominates the global microfluidic devices market, while Asia is a rapidly developing region for the microfluidic devices market.

On the basis of industry, the microfluidic devices market is segmented into in- vitro diagnostics, pharmaceuticals, and medical devices. Among these, in-vitro diagnostics is the largest industry and is estimated to reach US$3.3 bn in 2019.

The report profiles some of the prominent companies such as Abbott Laboratories, Roche Diagnostics, Siemens Healthcare, Becton Dickinson and Company, Agilent Technologies, Fluidigm Corporation, Bio-Rad Laboratories, and Johnson & Johnson, which are key players in the microfluidic devices market.

The market for microfluidics devices can be expected to rise as microfluidics is an evolving field with a huge potential commercially. With applications in various fields such as cell biology research, protein crystallization, and medicine, microfluidics will remain in the market due to its efficacy in the field of treatment.

Microfluidic Device Systems Market in North America to Grow at Striking 21.70% CAGR from 2013 to 2019

Drug screening, micro fuel cells, chemical micro reactor, sugar testers, and microprocessor cooling are a few of the key areas which extensively use microfluidic devices. In 2013, the global microfluidic device system market had a market value of US$1531.2 million. Owing to factors such as increasing application of microfluidic device systems in the areas of proteomics and genomics, this market is anticipated to reach US$5246.4 million by 2019, growing at a CAGR of 22.8% from 2013 to 2019. Microfluidic devices are a nascent scientific field of study with enormous commercial and analytical applications.

The robust growth of the global microfluidic device system market can be attributed to key factors such as a high demand for point of care testing, miniaturization of chips, and changes in material mix. Miniaturization of chips leads to lower costs of testing, and changing material mix leads to newer opportunities for new market entrants.

Demand for Point of Care Testing to Propel Overall Demand from Microfluidics Device System Market

The global microfluidic device system market is segmented on the basis of material type, application, industry, and geography. On the basis of material type, this market is segmented into polymer, silicon, and glass. Based on application, the global microfluidic device system market is classified into environment and industry, clinical and veterinary diagnostics, drug delivery, point of care testing, analytical devices, and pharmaceutical and life science research. Within the application segment, clinical and veterinary diagnostics leads the overall microfluidic device system market.

Microfluidic device systems are also applied in the areas of protein crystallization, cell biology research, and medicine. Latest healthcare trends, which include home healthcare, reveal that point of care testing is a highly sought-after delivery method for healthcare services. In the area of genomics, microfluidic device systems ensure higher test speed, lower consumption of reagents, and greater efficacy.

On the basis of industry, the microfluidic device system market is segmented into medical devices, in-vitro diagnostics, and pharmaceuticals. The in-vitro diagnostics segment holds the largest share within the industry segmentation of the global microfluidic device system market.

Asia to Lead Microfluidics Device System Market Due to Growing Spread of Healthcare Infrastructure

Geographically, the global microfluidic device system market is segmented into Asia, North America, Europe, and Rest of the World. North America leads the overall microfluidic device system market in terms of both revenue and volume. Some of the prominent market drivers for the North America microfluidic device system market include greater technological development, high incidence of lifestyle diseases, a rapidly growing geriatric population, and greater health awareness.

In 2013, this regional market was worth US$644.5 million and is anticipated to report a value of US$2095.5 million by 2019. The Asia microfluidic device system market is expanding rapidly owing to significant growth of the industry and application segments of medical devices and point of care testing, respectively.

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Reduced Side Effects and Higher Efficacy Drives Demand for Microfluidic Device Systems

Microfluidics technology ensures greater efficacy of treatments and reduction of side effects. High demand for miniaturization of pharma and medical devices is a prominent factor that drives the demand for microfluidics technology. Ongoing trends also indicate that this technology is increasingly being applied in the area of micro engineering solutions.

Growing at a 23.2% CAGR, the in-vitro diagnostics segment is anticipated to reach a market value of US$3317.4 million by 2019 from US$949.6 million in 2013.

The overall microfluidic device system market is characterized by a number of product innovations and partnerships between major market players. Some of the key factors that hamper the growth of the global microfluidic device system market are strict regulatory standards and issues pertaining to geometrical and surface chemistry.

The key companies operating in the microfluidic device system market are Becton, Dickinson and Company, Johnson & Johnson, Micronit Microfluidics, Dolomite Centre, RainDance Technologies, Bio-Rad Laboratories, Agilent Technologies Inc., Abbott Laboratories, and Roche Diagnostics.