In a recent published report, Kenneth Research has updated the market report for Microfluidic devises Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Microfluidic devises Market products.
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According to a report by the World Health Organization (WHO), the total health spending is growing with an annual average rate of 6% in the low- and middle-income nations, and close to 4% in the high-income countries. Further, in the year 2016, the expenditure made on health reached close to 10% of the GDP of the world and crossed a value of USD 7 trillion.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Global Microfluidic Devices Market is estimated to reach $14.3 Billion by 2024; growing at a CAGR of 22.5% from 2016 to 2024. A microfluid device consists of a pattern of micro-channels through which fluids flows. The design of these device may vary depending upon its application area. Microfluidic devices are highly beneficial for genomics owing to its improved test speed, and reduced reagent consumption and efficiency. Microfluidics have aided in miniaturization and automation in the field of medicine and diagnostic applications and has proven to be a striking technology for several academic researches as well as industries.
The global microfluidic devices market is driven by factors such as, need for inventions in mixture mix, increasing demand for miniaturized devices in proteomics and genomics, and rising demand for point of care testing. However, factors such as stringent regulations for global affiliation of medical devices and inability to integrate with present system could hamper the growth of the market. Furthermore, untapped markets and advanced diagnostics and drug delivery technologies would provide future scope for the market.
The global microfluidic devices market is segmented as material type, application, industry, and geography. Material type is categorized into polymer, silicon, glass, and others. Furthermore, application is sub-segmented into point of care testing, clinical and veterinary diagnostics, analytical devices, drug delivery, pharmaceutical and life science research, environment and industrial, and others. Industry is bifurcated into pharmaceuticals, in-vitro diagnostics, medical devices, and others.
Based on geography, global microfluidic devices market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea, and others while RoW is bifurcated into South America, Middle East, and Africa.
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The key market players include F. Hoffmann-La Roche AG, Siemens Healthcare GmbH, Becton, Dickinson and Company, Agilent Technologies, Bio-Rad Laboratories, Inc., Johnson and Johnson, Fluidigm Corporation, Abbott Laboratories, Micronit Microtechnologies B.V., and Akonni Biosystems, among others.
The key takeaways from the report:
The report will provide detailed analysis of Microfluidic Devices Market with respect to major segments such as material type, application, and industry. The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024. Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report. An exhaustive regional analysis of Microfluidic Devices Market has been included in the report. Profile of the key players in the Microfluidic Devices Market will be provided, which include key financials, product & services, new developments and business strategies.
Scope of Microfluidic Devices Market:
Material Type Segments
Polymer
Silicon
Glass
Other Material Types
Application Segments
Point of Care Testing
Clinical and Veterinary Diagnostics
Analytical Devices
Drug Delivery
Pharmaceutical and Life Science Research
Environment and Industrial
Other Applications
Industry Segments
Pharmaceuticals
In-Vitro Diagnostics
Medical Devices
Other Industries
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Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Russia
Germany
France
Italy
Others
Asia-Pacific
India
China
Japan
South Korea
Others
RoW
South America
Middle East
Africa
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