Microfluidics Market to See Strong CAGR to 2022, Projects RNCOS in Its New Research Report Published at MarketPublishers.com31 Mar 2017 • by Natalie Aster
LONDON – The market is projected to see strong CAGR through to 2022, which is expected to be fuelled by the soaring demand for POC devices, quick ROI provided by microfluidics devices leading to reductions in cost, and miniaturisation of microfluidic chips.
Production difficulties and a high level of capital investment for lab-on-a-chip (LOC) devices are amongst the key challenges that the sector is facing. The growth of the microfluidics market is also hampered by other key factors like strong incorporation of emerging microfluidic-based technologies into current operating procedures, and sophisticated and time consuming regulations.
The microfluidic devices market value globally stood at USD 3 billion in 2016, and is set to witness a double-digit increase to 2022.
Based on application, the in-vitro diagnostics segment grabs the biggest share of the total microfluidics market. The big share of this segment is due to the rising uptake of microfluidics for POC as well as clinical and vet diagnostics applications by key diagnostic companies, like Roche, Becton Dickinson & Company, Cepheid, and Abbott, among others. Based on components, microfluidic chips captured the lion’s share of the total market, which is due to rising use of these chips in IVD applications.
In terms of material, ceramics accounted for the dominant share of the microfluidics market in 2016.
APAC is expected to observe the most impressive growth in the offing, with is attributed to the expanding M&As, and technology advances in emerging nations. However, North America captured the largest share in 2016, driven by the soaring adoption of microfluidics technology and the continuous launches of novel products in the region.
New research report “Microfluidics Market” elaborated by RNCOS E-Services is devoted to an in-depth analysis of the market for microfludics used in the pharmaceutical and in-vitro diagnostics domains, and also drug delivery devices.
The study provides granular categorisation of the market based on material, components, applications, and geographic area. The research publication casts light on the latest trends and developments that have had a bearing on the marketplace over the past few years. The report canvasses the regulatory scenario in different countries from pole to pole. Profiles of the top 10 companies are available in the report as well. Furthermore, the report provides detailed market forecasts to 2022.
Other insightful market reports by RNCOS E-Services are available at publisher's page at MarketPublishers.com.