Microfluidic Devices Market Growth Analysis By Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Abbott, Agilent technologies, Inc., Cepheid, Siemens Healthcare GmbH, Dolomite Centre etc. Till 2023

The Global Microfluidics Devices Market is growing pervasively mainly due to the vital role these devices play in the integration, industrialization, miniaturization, and parallelization of various tests in the fields of diagnostics, drug development, and biological research. The widely accepted microfluidic technology has several applications as it allows integration of many medical tests on a single chip.

Acknowledging the phenomenal upsurges, the market perceives currently, Market Research Future (MRFR) in its recently published study report asserts that the Global Microfluidic Device Market will witness a significant growth by 2024 growing at a phenomenal CAGR over the forecast period (2016-2024).

Microfluidics Devices also help in improving the efficacy of treatment while reducing its side effects. New microfluidic methods are used for evaluating drugs and manipulating cells for the treatment of diseases related to heart and cancer. The growing prevalence of chronic diseases such as cancer and heart related to heart is prompting expanded creation of drugs in the pipeline.

As a result, Microfluidics Devices are increasingly garnering the demand and traction across the life science and pharmaceutical sector. Owing to the efficacy of these devices provide these are becoming popular. Resultantly, the microfluidic device market is growing pervasively over the past couple of years, accounting for a significant market share, globally. Massive advancements in technology and the vast uptake of advanced technology drives the growth of the microfluidics device market on the global platform.

Global Microfluidic Devices Market - Key Players

Some of the major players in this market are:

Bio-Rad Laboratories, Inc.
Hoffmann-La Roche AG
Abbott
Raindance Technologies, Inc.
Agilent technologies, Inc.
Cepheid
Siemens Healthcare GmbH
Dolomite Centre
Fluidigm Corporation
Micronit microfluidics

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Global Microfluidic Devices Market - Segmentation

Microfluidic Devices Market has been segmented on the basis of industry, which comprises of in-vitro diagnostics, pharmaceutical, medical devices. On basis of the materials, market is segmented into polymer, glass, silicon. On the basis of the application, the market is segmented into clinical, and veterinary diagnostics, point of care, analytical devices, drug delivery, environmental, and industrial applications. On the basis of geographic region, the microfluidic devices market is segmented into three key regions: North America, Europe, and Asia.

Industry News:

December 13, 2018 - Researchers from the Massachusetts Institute of Technology (MIT) published their study of a novel 3-D printed microfluidic device that they have invented. The new microfluidic device can simulate cancer treatments on biopsied tumor tissue, so clinicians can better examine how individual patients will respond to different therapeutics before administering a single dose.

November 26, 2018 – The University of Toronto (Canada) announced its partnership with Canada’s National Research Council (CNRC) to create a national innovation hub focused on microfluidics, a field in which tiny amounts of fluid are manipulated in small-scale devices to create everything from portable diagnostic “labs” to repair kits for human organs.

The collaboration will be called as the Centre for Research and Applications in Fluidic Technologies (CRAFT) and will combine the talents of U of T microfluidic experts and NRC scientists in a bid to catalyze new discoveries and scale up production of existing prototypes to deliver higher quality patient care at a lower cost. CRAFT will be jointly funded by both partners with a $22 million investment over five years.

Nov 2016 - Danaher Corporation acquired Cepheid.

Jun 2016 - Luminex Corporation acquired Nanosphere, Inc.

April 2014 - Roche acquired IQuum for USD 275 million upfront and USD 175 million in contingent product liabilities, which is poised to strengthen its offerings in molecular diagnostics microfluidic devices. Roche marks the entry in point of care molecular diagnostics devices.

January 2014 - bioMérieux, acquired BioFire Diagnostics Inc., maker of automated PCR molecular biology systems.

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Global Microfluidic Devices Market - Regional Analysis

The Global Microfluidic Devices Market is segmented into North America, Europe, and Asia Pacific.

North America was leading market player across the globe in 2016 and is expected to reach USD 4.88 billion by the end of the forecasted period.

Europe is the second largest region in the Global Microfluidic Devices Market, which is expected to grow at a CAGR of 22.8%.

Asia Pacific region is expected to be the fastest growing region in the global microfluidic devices market.

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

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