Microfluidic Devices Market Analysis by Top Companies, New Technology, Demand and Opportunity Analysis

The demand for point of care testing (POCT) is increasing across the globe because of the growing aging population, rising prevalence of chronic diseases, and lifestyle changes. POCT is the performance of a test nearby to the site of the patient care for providing immediate results outside the traditional laboratory environment. In addition to this, diagnostic companies, such as Alere, Abaxis, and Cepheid, have started recognizing the potential of quick molecular diagnostic testing, which why they have launched various point of care products that are based on microfluidic technology in the past few years. This, in turn, is expected to drive the requirement for microfluidic devices.

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Microfluidic devices are gaining traction because they have the ability to perform several of the current large-scale applications at a smaller scale, due to which instrument size and sample consumption can be reduced significantly. As per a research conducted by P&S Intelligence, the global microfluidic devices market is expected to reach a value of $6.4 billion, growing with a 23.0% CAGR, in the near future. The different materials that are utilized for manufacturing these devices include polymer, silicon, and glass. Among these, the largest demand was created for polymer for the manufacturing of microfluidic devices during 2011-2014 and the situation is going to be the same in the coming years as well.

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The utilization of microfluidic technologies for the miniaturization of chip is also leading to the rising adoption of microfluidic devices. The process of integrating laboratory protocols into miniaturized devices, known as lab on chip, includes various steps such as pre-treatment, separation, mixing, reaction, and pre-concentration. This further help in reducing the cost and consumption of reagent, which is also helpful in several medical diagnosis with the help of blood drop. Apart from reducing the overall cost of screening the compounds for cell biology problems, the miniaturization technique also aids in decreasing the analysis time and carrying parallel assay in microfluidic devices.

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