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Precision Fluidics Market Growth and Restrain Factors Analysis Report
The global Precision Fluidics market is estimated to exhibit a CAGR of 18.2% during the forecast period.
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Precision fluidics- the elements that manage small volumes of fluids- are typically desired to improve the performance of analytical instruments, clinical diagnostic tools, and patient gas supply systems. Due to an increase in the prevalence of infectious diseases, the emergence of pandemics like COVID-19, and the adoption of technologically advanced instruments to provide accurate results, the demand for clinical diagnostic and analytical tools from laboratories has increased, driving the growth of the precision fluidics market. Additionally, the market is expanding due to increased R&D for technologically improved equipment, donations from the public and private organizations for R&D and purchasing diagnostic tools, and the number of end-user industries. Precision fluidics technologies have significantly created reliable drug delivery systems with improved physicochemical properties using straightforward, inexpensive, and repeatable procedures due to their growth potential.
List of Prominent Players in the Precision Fluidics Market:
IDEX Health & Science LLC
Parker Hannifin Corporation
MK Fluid Systems
Dolphin Fluidics
The Lee Company
Flex Fluidics LLC
Halma Plc, IMI Plc
Bürkert
Hamilton Company
Bio-Chem
IVEK
SMC
TECAN
Symbiont Product Development
Gems Sensors
Diba Industries
New England Small Tube Corporation
Controlled Fluidics
Market Dynamics:
Drivers-
Globally, there is a greater need for enhanced therapies due to the rising prevalence of numerous diseases and chronic ailments. This has led to an increase in cellular studies on chronic illnesses and their treatment, which has increased the utilization of technologies like precision fluidics. The rise in chronic illness rates will ultimately contribute to an increase in the demand for microfluidic research on such illnesses, which is predicted to enhance the demand for such precision fluidic goods and, as a result, drive the market throughout the projected period.
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Challenges:
Market growth will be hampered by issues, including the high price of goods like syringe pumps. Preclinical research, microfluidics, cellular research, mass spectrometry calibration, neuroscience, and chromatography all employ these items. Syringe pumps used in research applications come at various prices depending on their type, brand, and quality. The market for precise fluids cannot increase because of the exorbitant cost.
Regional Trends:
The North America Precision Fluidics market is expected to register a significant market share in revenue and is projected to grow at a high CAGR shortly. Critical factors in the region's amazing growth include the expanding older population, the presence of long-standing merchants, and the rising incidence of chronic ailments due to the high obesity rate and unhealthy lifestyle. In addition, Asia Pacific is expected to have a substantial market share in the global Precision Fluidics market during the forecast period owing to improving living standards, greater urbanization, and a surge in infrastructure construction projects, particularly in China and India. The Chinese government has consistently backed the development of infrastructure and the ownership of intellectual property rights. Consequently, it is projected that the market for precision fluidics will experience rapid expansion. Additionally, the growing need for healthcare services is expected to drive the region's precision fluidics market to new heights over the coming years.
Recent Developments:
• In September 2022, TTP Ventus Limited was purchased by The Lee Company from TTP Group to diversify its product offerings in the precision fluidics market.
• In March 2020, the respiratory and anesthetic markets focused on Parker Hannifin's debut of the Parker LM-Pro linear motor proportional valve, which uses linear motor actuation technology.
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Segmentation of Precision Fluidics Market-
By Component-
• Pumps
• Valves
• Probes
• Degassers
• Fluidic Systems
• Manifolds
• Pressure Sensors
• Flow Sensors
• Fluid Level Sensors
• Inline Filters
• Subsystem Level-Fluidics Systems or Integration
By Application-
• Analytical Instruments
• Clinical Diagnostics
• Patient Gas Delivery
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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