Business & Finance
Global Microfluidics Sales to Exceed USD 11bn by 2026 End, Future Market Insights Predict
10 February 2017 - - The USD 2.9bn microfluidics market will possibly cross USD 11bn by the end of 2026, according to a new report from US-based market intelligence and consulting firm Future Market Insights.

North America is expected to contribute over USD 3bn to the total revenues in 2026. The collective share of North America and Asia Pacific will be over 40%.

Increasing discretionary funding from national labs for R/D in the developed regions will remain a primary factor driving the growth of market through 2026.

Improving healthcare infrastructure and the wide availability of affordable microfluidic devices or kits are also foreseen to boost the market growth in near future, especially in developing countries.

Expansion of the drug delivery sector will favour the market growth in near future. Consistent advancements in the fields of genomics and proteomics are also expected to benefit the sales of microfluidics-based devices and kits.

Collaborations between key market players and active involvement of government entities will collectively foster the market through 2026.

Based on material, ceramics will continue to be the most sought after material for microfluidic device or kit manufacturing.

The ceramics segment is expected to remain dominance, accounting for over 42% market value share in 2026, followed by glass, polymer, and silicon.

While ceramics is likely to witness the fastest growth, polymer segment is anticipated to exhibit a significant CAGR of over 15% over 2016-2026, driven by PVC.

On the basis of industry, in-vitro diagnostics, life science research, and pharmaceuticals are likely to be the key segments.

The in-vitro diagnostics segment is estimated to hold a share of over 35% in the total market revenues. The fastest growing segment will be in-vitro diagnosis.

Geographically, North America, followed by Western Europe are expected to remain the dominant regions for microfluidics, capturing respective market value share of over 26% and over 21% share by 2026 end. Asia Pacific (excluding Japan) will possibly represent the most lucrative market, expanding at a significant CAGR of over 14% throughout the forecast period.

This growth is attributed to growing use of microfluidics devices and kits for in-vitro diagnostics. North America and Western Europe will also exhibit significant growth rates over 2016-2026.
Almost all the leading companies serve point of care testing application and survive the competition with an individual differentiating strategy.

Thermo Fisher Scientific Inc. and Abbott Laboratories, through active engagement in agreements and collaborations with leading regional companies, highlight a growing trend of strategic mergers and acquisitions among the top companies.
Login
Username:

Password: