Global Microfluidics Market is anticipated to grow at a 19.8% CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Microfluidics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019–2030.” According to the report, the global microfluidics market is estimated to be around US$ 10.2 Bn in 2017. It is anticipated to grow at a 19.8% CAGR from 2019 to 2030.
The continual increase in the number of infectious diseases worldwide has presented a bright prospect for the growth of global microfluidics market. Other factors such increasing healthcare funding coupled with adoption of new technologies are anticipated to contribute substantially to the growth of the global microfluidics market between 2019 and 2030.Moreover, various universities are supporting the microfluidics technology and expanding its applications. University like University of Waterloo (Canada), Stanford University, University of Colorado (US), and Norwegian University of Science and Technology provide education on the topic of microfluidics.
Increasing Incidences of Infectious Diseases
According to World Health Organization (WHO) Infectious diseases are one of the major causes of death across the world. It is estimated that the prevalence of infectious disease in Russia is one of the highest in world, followed by Brazil and US. According to Center for Disease Control (CDC), the total number of individuals suffering from hepatitis A in 2011 was approximately 2,700. Similarly, the number of individuals suffering from chronic hepatitis B was estimated to be between 2.5 to 3.9 million. Growing incidences of such infectious diseases has presented a lucrative growth prospect for the microfluidics market, as this technique is widely used for detection of such conditions.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Microfluidics Market by Type (Chips, Sensors, Micro-Pumps, Micro-Needles), Material (Glass, Silicon, Polymer), Application (In-Vitro Diagnostics, Drug Delivery, Laboratory Testing, Pharmaceutical & Life Science) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents: https://www.marketindustryreports.com/microfluidics-market/15
Stringent Regulatory Scenario to Restrain the Market
The presence of stringent regulatory processes is one of the major factors affecting the growth of the membrane chromatography market. Similarly complex regulatory approval scenario is anticipated to restrain the extensive growth of the market during the forecast period.
Rapid Growth of the Asia Pacific Market
Asia Pacific is estimated to witness the highest CAGR during the forecast period. Rising healthcare expenditure in developing countries and increasing burden of infectious diseases is anticipated to present a lucrative growth scenario for the microfluidics market in this region. Furthermore, improving healthcare facilities, coupled with growing awareness among the population in the region is expected to present an attractive growth prospect for the market in the coming years.
Major Players in the Microfluidics Market
The prominent players in the global microfluidics market are Agilent Technologies, Danaher, Thermo Fisher Scientific, Becton, Dickinson and Company, PerkinElmer, Qiagen, Abbott Laboratories, Fluidigm Corporation, Illumina, Inc., and F. Hoffmann-La Roche AG, among others.
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