Global
Microfluidic Device System Market: Description
The
rising use of microfluidic devices in genomics and proteomics,
miniaturization of chips, and point of care testing has been creating
lucrative prospects for the global microfluidic device system market.
Regionally, the market has been witnessing robust growth in North
America. However, in the forthcoming years, the market in Asia
Pacific is expected to gain a higher traction. Driven by the strong
demand across pharmaceutical and medical devices sector, the future
of the global microfluidic device system market seems quite
promising.
The
market is poised to witness lucrative opportunities in the
forthcoming years. Transparency Market Research’s (TMR) report on
the global microfluidic device system market presents in-depth
insights into the factors influencing the market’s growth
trajectory between 2013 and 2019. For the purpose of the study, the
global microfluidic market has been segmented in terms of materials,
application, industry, and geography. Based on geography, the market
constitutes Asia Pacific, North America, Europe, and Rest of the
World.
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Market Research
Report:
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Global
Microfluidic Device System Market: Overview
As
per TMR, the global microfluidic device system market is poised to
exhibit a CAGR of 22.8% between 2013 and 2019. The market was valued
at US$1.53 bn in 2013 and is expected to reach US$5.24 bn by the end
of 2019. The market is significantly gaining from the increasing
investment in R&D activities in life science, pharmaceuticals,
and point of care testing.
Novel
trends in healthcare such as the growing preference for home
healthcare are supporting the growth of the point of care testing
(POCT) as the most efficient mode of delivery in the healthcare
industry. In the last few years, the microfluidic technique has
evolved as a new segment of research areas focusing on the
integration of laboratory protocols into miniaturized devices. This,
combined with various advantages offered such as improved efficacy
and test speed and reduced reagent consumption, has been creating
lucrative opportunities for the microfluidic device system market.
Conversely,
stringent regulations for global affiliations of medical devices are
limiting the market’s trajectory to an extent. Besides this, the
companies within the market also require to address various
geometrical and chemistry related issues to benefit from a
sustainable growth.
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