Global Microfluidics Market Is Projected to Reach USD 12,380 Million by 2025

Sarasota, FL -- (SBWire) -- 04/23/2019 --Zion Market Research has published a new report titled "Microfluidics Market by Component (Microfluidic Chips, Micro Pumps, Micro Needles, and Others), by Material (Polymer, Silicone, and Glass), and by Application (Drug Delivery, High-Throughput Screening, Point-of-Care Diagnostics, Clinical Diagnostics, and Lab Analytics): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025". According to the report, the global microfluidics market was valued at approximately USD 5,742 million in 2018 and is expected to generate around USD 12,380 million by 2025, at a CAGR of around 11.6 % between 2019 and 2025.

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Microfluidics is a science of manipulating and controlling small amounts of fluids, especially in microliters and Pico-liters inside small tunnels and chips. These fluids have numerous applications in the healthcare industry, as they have made handling of fluids in laboratory much easier and reduced the use of reagents and samples. A very small amount of this fluid is required for testing that offers an effective alternative to conventional laboratory techniques. This makes things much simpler and faster as compared to conventional technologies along with having a wide range of application in various industries.

There are various factors expected to drive the global microfluidics market in the future, include wide applications of microfluidics in various areas, such as glucometer kits, pregnancy test kits, etc., increasing point-of-care diagnostics, rising in vitro diagnostics, growing prevalence of chronic diseases like diabetes. As per the International Diabetes Federation 2017, there were around 425 million adults living with diabetes and the diabetic population is expected to reach around 629 million by 2045. Moreover, the increased use of portable devices and augmented demand for faster results for quicker diagnosis and treatment are also expected to promote the microfluidics market over the forecast time period. On the other hand, the increasing applications of microfluidics technology will create ample opportunities in the microfluidics market in the future. However, complex regulatory approval process and low adoption in developing countries due to high prices may inhibit the growth of the global microfluidics market over the forecast time period.

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The global microfluidics market is classified into the material, component, and application. Based on the component, the microfluidic market includes micro needles, micro pumps, microfluidic chips, and others. Microfluidic chips held the largest market share in 2018. Based on material, the microfluidics market includes silicone, glass, and polymer. The polymer segment is expected to dominate the microfluidics market over the forecast time period. Based on application, the microfluidics market includes point-of-care diagnostics, high-throughput screening, drug delivery, clinical diagnostics, and lab analytics. Point-of-care diagnostics are expected to dominate the microfluidics market over the estimated timeline.

By region, North America is anticipated to lead the global microfluidics market which will be closely followed by Europe in the future. The Asia Pacific microfluidics market is expected to grow rapidly in the future, due to the presence of developing economies, such as India and China, and various technological advancements.

Some key players of the global microfluidics market are Thermo Fisher Scientific Inc., F. Hoffmann La-Roche Ltd., Bio-Rad Laboratories, Inc., Danaher Corporation, Agilent Technologies, Inc., and PerkinElmer, Inc.

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This report segments the global microfluidics market into:

Global Microfluidics Market: Component Analysis

Microfluidic Chips
Micro Pumps
Micro Needles
Others

Global Microfluidics Market: Material Analysis

Polymer
Silicone
Glass

Global Microfluidics Market: Application Analysis

Drug Delivery
High-Throughput Screening
Point-of-Care Diagnostics
Lab Analytics
Clinical Diagnostics

Global Microfluidics Market: Regional Analysis

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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