The Global Microfluidic Devices Market Boosted By Growing Demand For Point Of Care Testing. Standards

Global Microfluidic Devices Market Report, published by Variant Market Research, forecast that the global market was valued at $2.8 Billion in 2016 and expected to reach $14.3 Billion by 2024, growing at a CAGR of 22.5% from 2016 to 2024. In geographical segment, Asia-Pacific and Europe are expected to grow at a CAGR of 25.2% and 22.1%, respectively, during the forecast period 2016 - 2024.

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The global microfluidic devices market is majorly driven by growing spending on R&D in pharmaceuticals, rising adoption for microfluidic devices in genomics and proteomics, required for advanced material mixes, growing demand for point of care testing. Standards and restrictions for global affiliation of medical devices may hamper the growth of the market. Additionally, technological advancement and untapped market would provide growth opportunities for the market in the forecast periods 2016 – 2024.
The global microfluidic devices market has been categorized into industry, material type, application, and geography. Industry consists pharmaceuticals, in-vitro diagnostics, medical devices, and others. Material type includes glass, polymer, silicon, and other material types. Moreover, application comprises pharmaceutical and life science research, clinical and veterinary diagnostics, point of care testing, drug delivery, analytical devices, environment and industrial, and others.

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Among material type, polymer and glass held the largest market share in 2016. In terms of industry, in-vitro diagnostics accounted for the highest market share and anticipated to attain the fastest CAGR. Pharmaceutical and life science research and point of care testing dominated the application segment with maximum market share, though, point of care testing shall attain the fastest CAGR during the forecast period 2016 -2024.

North America, Europe, Asia-Pacific and Rest of the World (RoW) are the major regions covered in the report. North America and Europe dominated the market with maximum market share in 2016 with 40.4% and 33.3%, respectively. While, in terms of growth, Asia-Pacific is expected to attain the fastest CAGR, owing to increasing health and wellness consciousness, growing commonness of lifestyle and chronic diseases, and improving advanced technology.

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The major key players operating in the market comprise F. Hoffmann-La Roche AG, Siemens Healthcare GmbH, Fluidigm Corporation, Bio-Rad Laboratories, Inc., Agilent Technologies, Johnson and Johnson, Akonni Biosystems, Becton, Dickinson and Company, Abbott Laboratories, and Micronit Microtechnologies B.V., among others.

Scope of Microfluidic Devices Market
Material Type Segments
• Polymer
• Glass
• Silicon
• Other Material Types
Industry Segments
• In-Vitro Diagnostics
• Pharmaceuticals
• Medical Devices
• Other Industries
Application Segments
• Clinical and Veterinary Diagnostics
• Pharmaceutical and Life Science Research
• Point of Care Testing
• Analytical Devices
• Drug Delivery
• Environment and Industrial
• Other Applications
Geographical Segments
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Russia
o Germany
o France
o Italy
o Others
• Asia-Pacific
o India
o China
o Japan
o South Korea
o Others
• RoW
o South America
o Middle East
o Africa

About Variant Market Research

Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
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