Microfluidic Device System Market- Change in material mix provides new opportunities for new players in the market

There has been a recent release of a new report on the global microfluidic device systems market by Transparency Market Research (TMR). The report suggests that the global microfluidic device market is estimated to grow at a CAGR of 22.8% during the period of 2013 to 2019. The market, which was valued at US$1.5 bn in 2013, will reach US$5.2 bn in 2019.The report, which is titled “Microfluidic Device System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” provides a comprehensive study on the analysis of the microfluidic device market for the period from 2014 to 2019, wherein 2013 is considered as the base year for calculation. The report contains data related to the current market dynamics, trends, market drivers, restraints, and also the strategic developments propelling the global microfluidic device systems market.

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It is a multidisciplinary field that uses engineering, chemistry, physics, nanotechnology, biochemistry, and biotechnology with practical solutions that use low fluid volumes achieve automation, multiplexing, and high-throughput screening. These devices are used in areas of cell biology research, medicine, and protein crystallization. The primary goal of these devices is to bring in efficiency and improve treatments.

According to the research report, the global microfluidic device systems market was valued at US$1.5 bn in 2013 and is expected to reach US$5.2 bn by 2019, rising at a CAGR of 22.80% between 2013 and 2019. The key factor propelling the global microfluidic device systems market is the high demand for these systems in chip miniaturization, proteomics, and genomics. Furthermore, the growing demand from the point-of-care testing segment will also boost this market.

The global microfluidic device systems market has been segmented on the basis of material, industry, application, and geography. The materials available in this market are glass, silicon, and polymer. The industries using these systems are pharmaceuticals, medical devices, and in-vitro diagnostics. On the basis of application this market is segmented into point of care testing, pharmaceutical and life science research, drug delivery, analytical devices, clinical and veterinary diagnostics, and environment and industrial. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

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Of all the industries, the in-vitro diagnostics industry is the largest user of microfluidic device systems. This industrial segment was valued at US$949.6 mn in 2013 and is likely to reach US$3.3 bn in 2019, surging at a CAGR of 23.20% 2013 and 2019. Meanwhile, the medical devices segment will also play a vital role in the changing application dynamics of the global microfluidic device systems market.

Out of all the applications, the veterinary and clinical diagnostics held the largest share in the market. However, analysts predict that point of care testing segment will show a remarkable growth rate in the global microfluidic device systems market in the foreseeable future. The North America microfluidic device system market holds a dominant position as it was valued at US$644.5 mn in 2013 and is expected to reach US$2 bn in 2019, expanding at a CAGR of 21.70% from 2013 to 2019.

Some of the key players in the global microfluidic device systems market are Roche Diagnostics, Siemens Healthcare, Abbott Laboratories, Bio-Rad Laboratories, Agilent Technologies, Fluidigm Corporation, Becton Dickinson and Company, and Johnson & Johnson. The research report profiles these players and provides a complete analysis of the competitive landscape of the overall market. Furthermore, the report also presents a fair case of regulatory framework governing the overall market. The research and development activities, branding ideas, business and marketing strategies, and strategic mergers and acquisitions of these players have also been mentioned in this extensive research report.

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.