VALLEY COTTAGE, New York, February 8, 2017 /PRNewswire/ --
Applications of microfluidics in drug delivery and diagnostics will continue to fuel the market for microfluidics over the next few years. "The US$ 2.9 Bn microfluidics market will possibly cross US$ 11 Bn by the end of 2026. North America is expected to contribute over US$ 3 Bn to the total revenues in 2026. The collective share of North America and Asia Pacific will be over 40%," states Future Market Insights in a recently published market report outlook, titled "Microfluidics Market: Global Industry Analysis and Opportunity Assessment, 2016-2026."
The report by Future Market Insights analyses the global market for microfluidics over a 10-year forecast period, 2016-2026. The market is likely to witness a robust CAGR of 14.4% over the assessed period.
Request a Sample Report with Table of Contents: http://www.futuremarketinsights.com/reports/sample/rep-gb-398
Key Insights: Market Dynamics
- Increasing discretionary funding from national labs for R&D in the developed regions will remain a primary factor driving the growth of market through 2026.
- Improving healthcare infrastructure and wide availability of affordable microfluidic devices or kits are also foreseen to boost the market growth in near future, especially in developing countries.
- Expansion of drug delivery sector will favour the market growth in near future.
- Consistent advancements in the fields of genomics and proteomics are also expected to benefit the sales of microfluidics-based devices and kits.
- Dynamic collaborations between key market players and active involvement of government entities will collectively foster the market through 2026.
Key Insights: Segments
Ceramics will remain dominant material type
Based on material, ceramics will continue to be the most sought after material for microfluidic device or kit manufacturing. Ceramics segment is expected to remain dominance, accounting for over 42% market value share in 2026, followed by glass, polymer, and silicon. While ceramics is likely to witness the fastest growth, polymer segment is anticipated to exhibit a significant CAGR of over 15% over 2016-2026, driven by PVC.
Preview Analysis on Global Microfluidics Market Segmentation By Material Type - Polymer (Polyvinyl chloride (PVC), Non-polyvinyl chloride), Glass, Silicon, Metal, Ceramics; By Application Type - Point of care testing, Clinical Diagnostics, Drug Delivery, Analytical Testing (Genomics, Proteomics, Cell Based Analysis); By Industry - Pharmaceuticals, In-vitro Diagnostics, Environmental Research, Life Science Research, Clinical Diagnostics: http://www.futuremarketinsights.com/reports/microfluidics-market
POCT will be dominant application segment
By application, POCT (point of care testing) segment is projected to retain dominance through 2026, accounting for over 33% share in terms of revenues. Clinical diagnostics and analytical testing will remain the next major segments in the global microfluidics market.
In-vitro diagnostics industry will hold maximum revenue share
On the basis of industry, in-vitro diagnostics, life science research, and pharmaceuticals are likely to be the key segments. In-vitro diagnostics segment is estimated to hold a share of over 35% in the total market revenues. The fastest growing segment will be in-vitro diagnosis.
APEJ will be the most lucrative regional market
Geographically, North America, followed by Western Europe are expected to remain the dominant regions for microfluidics, capturing respective market value share of over 26% and over 21% share by 2026 end. Asia Pacific (excluding Japan) will possibly represent the most lucrative market, expanding at a significant CAGR of over 14% throughout the forecast period. This growth is attributed to growing use of microfluidics devices and kits for in-vitro diagnostics. North America and Western Europe will also exhibit significant growth rates over 2016-2026.
Speak with Analyst for any Report Related Queries: http://www.futuremarketinsights.com/askus/rep-gb-398
Key Insights: Leading Market Players
Some of the most prominent players in the global microfluidics market, include Agilent Technologies, PerkinElmer Inc., Thermo Fisher Scientific Inc., Qiagen NV, Bio-Rad Laboratories, Inc., Fluidigm Corporation, Abbott Laboratories, and F. Hoffmann-La Roche Ltd.
Almost all the leading companies serve point of care testing application and survive the competition with an individual differentiating strategy. Thermo Fisher Scientific Inc. and Abbott Laboratories, through active engagement in agreements and collaborations with leading regional companies, highlight a growing trend of strategic mergers and acquisitions among the top companies.
More From FMI's Cutting-edge Intelligence:
- Pharmacy Automation Systems Market Segmentation By Product - Medication Dispensing Cabinets, Packaging and Labelling System, IV Pharmacy, Robotic Dispensing System, Carousel Storage Systems and Tablet Splitters; By Application - Drug Dispensing & Packaging, Drug Storage and Inventory Management; By End-User - Hospital Pharmacies, Clinic Pharmacies, Retail Pharmacies, Mail Order Pharmacies and Pharmaceutical SMEs: http://www.futuremarketinsights.com/reports/global-pharmacy-automation-system-market
- Paediatric Vaccine Market Segmentation By Technology - Live Or Attenuated Vaccine, Inactivated Or Killed Vaccine, Toxoid Vaccine, Conjugate Vaccine and Subunit Vaccine; By Indication - Pneumococcal Conjugate Vaccine, DTP Vaccine, Influenza, Meningococcal Vaccine, Polio Vaccine, Rotavirus Vaccine, MMR Vaccine and Varicella Virus Vaccine; By End User - Hospital Pharmacies, Retail Pharmacies and Institutional Health Centres; By Vaccine Type - Monovalent Vaccines and Multivalent Vaccines: http://www.futuremarketinsights.com/reports/pediatric-vaccines-market
- Central Venous Catheter Market Segmentation By Product Type - Tunnelled Catheters and Non-Tunnelled Catheters, By Property - Antimicrobial Catheters and Non Antimicrobial Catheters, By Design - Single Lumen, Double Lumen and Multi Lumen, By Composition - Polyurethane, Polyurethane / Poly Carbonate and Silicone, By End Use - Hospitals, Ambulatory Surgical Centres, Specialty Clinics and Others: http://www.futuremarketinsights.com/reports/central-venous-catheter-market
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
T (UK): + 44-(0)-20-7692-8790
Press Office: Press@futuremrketinsights.com
SOURCE Future Market Insights