The global microfluidics market was valued at US$3.732 billion in 2018 and is expected to grow at a CAGR of 15.17% over the forecast period to reach a total market size of US$8.707 billion by 2024.The global microfluidics is expected to propel during the forecast period owing to the growing adoption of POC diagnostics worldwide. With the growing miniaturization, various end-use industries are interested in low volume sample analysis and high-throughput screening and this is creating a market demand for microfluidics technology to grow during the forecast period. Furthermore, advancements in testing technology giving rise to “lab-on-chip” concept are further propelling the growth of the global microfluidics market in the upcoming years. Geographically, North America is expected to show a substantial market share due to early adoption of innovations followed by Europe owing to the government support for the development and maintenance of high-quality infrastructure for research laboratories for clinical and research purposes. Also, growing health expenditure and R&D expenditure is further promoting the market growth in these regions. Additionally, growing pharma industry with investments in drug discovery is further creating an opportunity for microfluidics market to thrive at a fast pace during the forecast period and in the upcoming years as well.
Growing research and development activities worldwide in microfluidics is further driving the market growth during the forecast period. Furthermore, several companies are collaborating with other companies and research and/or academic organizations to work together on the key challenging areas in the healthcare and other sectors, such initiatives are further providing opportunities to develop new products according to the demands from the end-use industries, contributing in fueling the market growth during the forecast period. Moreover, the prevalence of chronic and infectious diseases worldwide is also providing an opportunity for the market to grow in the forecast period.
The “Global Microfluidics Market – Forecasts from 2019 to 2024” aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by components, sector, and geography.
The global microfluidics market on segmented based on components, sector, and geography. Based on components the market has been segmented into Chips, Pumps, Sensors, and Others. By sector, the market has been classified into Industrial and Healthcare. On the basis of geography, the market is segmented into North America (USA, Canada, and Mexico), South America (Brazil, Argentina, and Others), Europe (Germany, France, United Kingdom, and Others), Middle East and Africa (Israel, South Africa, and Others), and the Asia Pacific (China, Japan, India, and Others).
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and Asia Pacific regions. The report also analyzes 13 major countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the global microfluidics market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the global microfluidics market.