Key Players - Abbott Laboratories (U.S.), Agilent Technologies (U.S.), Caliper Life Sciences (PerkinElmer) (U.S.), Cepheid (U.S.), DanaherCorporation (U.S.), Life Technologies Corporation (U.S.), and Roche Diagnostics (Germany)
(PRWEB) March 13, 2014
The “Microfluidics Market Materials (Polymers, Silicon, Glass), Pharmaceuticals (Microreactors, Toxicity Screening, Lab on Chip, Proteomic & Genomic Analysis) Drug Delivery Devices (Microneedles, Micropumps), IVD (POC) - Global Trends & Forecast to 2018” analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia, and Rest of the World.
Browse 72 market data tables and 55 figures spread through 258 pages and in-depth TOC on "Microfluidics Market"
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This report studies the global microfluidics market over the forecast period of 2013 to 2018. The global microfluidics market is valued at $1.59 billion in 2013 and is poised to reach $3.57 billion by 2018, at a CAGR of 17.6%.
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The drug delivery devices market showcases a lucrative growth potential; this market includes inhaler nozzles, microneedles, and micropumps. Among these segments, microneedles represent the new revenue pockets. For more than 150 years, syringes and hypodermic needles have played a prominent role in delivering drugs into patients. The advancements in microfluidics have led to the development of microneedle arrays, which greatly expands the range of drugs that can be delivered transdermally. The breakthrough discovery of injecting macromolecules transdermally is favoring the growth of the API (Active Pharmaceutical Ingredient) market, which in turn is propelling the growth of the microneedles market. Factors such as pain free drug delivery, reduced risk of infection, precise control of drug delivery, and enhanced penetration through tough tumors have presented an array of opportunities for the microneedles market to flourish in the coming years.
The in-vitro diagnostics segment commands the largest share of the microfluidics industry market. The large share of this segment can be attributed to the increase in the use of Point-of-Care (POC) diagnostic devices and increased adoption of microfluidics in IVD by major diagnostic companies such as Roche Diagnostics (Switzerland), Becton Dickinson and Company (U.S.), Abbott Laboratories (U.S.), and Cepheid (U.S.).
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The microfluidics market is driven by the rising demand for POC devices, quick return on investments helping in cost reductions, and miniaturization of microfluidic chips. However, factors such as difficulty in incorporating emerging microfluidic technologies into existing workflows and the presence of complex and time consuming regulatory standards are hampering the growth of this market.
In 2013, North America accounts for the largest share of the global microfluidics market, followed by Europe. By taking into consideration a number of factors such as the growth in investments, lower labor and raw material costs, and various initiatives undertaken by governments in markets like China, Japan, India, and South Korea, these countries have emerged as the potential markets for investors in the near future.
Major players in the microfluidics market include Abbott Laboratories (U.S.), Agilent Technologies (U.S.), Caliper Life Sciences (PerkinElmer) (U.S.), Cepheid (U.S.), Danaher Corporation (U.S.), Life Technologies Corporation (U.S.), and Roche Diagnostics (Germany). A majority of companies in the microfluidics market are from the U.S.
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