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Global Microfluids Market Outlook 2020
The healthcare segment is featured with microfluidic applications which refers to the flow of biological liquids through micro channels ranging from nanolitres to few picoltres. This newest approach adds several benefits to the medical world, such as large surface to volume ratio, less reagent consumption, quick diagnosis and high accuracy of the results. Thus, the emerging field of ‘microfluidics or ‘Lab-on-chip’ is slowly penetrating into segments like genomics and drug delivery. Though microfluidic devices have the potential to be fast, cheap and portable diagnostic tools, the technology hasn’t yet completely made it to the marketplace. The majority of the devices is either in the development stage or meant for research purposes.
The latest edition unveiled by RNCOS entitled “Global Microfluids Market Outlook 2020”, describes the overall microfluidics industry landscape with core emphasis on healthcare applications. According to analysis, the market for healthcare microfluidic devices was worth US$ 2.5 Billion in 2014 and is poised for a double digit growth during the forecasted period (2014-2020). The new report throws light on the distribution of microfluidics technology by application, type of material and territory. In addition to this, the study covers latest trends capturing the market since last two years.
The analysis identified that rising R&D investments, proven accuracy of the microfluidics in point of care diagnostics, and increasing demand in life science research are contributing to the healthy growth of the microfluidics industry. On the contrary, manufacturing difficulties and high capital investment for lab-on-chip devices are two of the major challenges faced by this sector.
The key vendors dominating the market space are Fluidigm Corp., Roche, RainDance Technologies, Inc., Agilent Technologies Inc., Illumina, Inc., Shimadzu; Abbott Laboratories; GE Healthcare etc. Finally, the report covers key strengths and weaknesses, and recent developments on the competitive front. Thus, it provides a comprehensive analysis of the microfluidics technology, which will enable investors to design suitable business strategies to target the billion dollar market.