Microfluidic Devices Market to witness a CAGR growth of 20.0% from 2016 to 2021
PUNE, India, July 18, 2016 /PRNewswire-iReach/ -- Market research future published a cooked research report on Global Microfluidic Devices Market that contains the information from 2011 to 2016. The Global Microfluidic Devices Market is expected to grow with the CAGR of more than 20% from 2016 to 2021, and with this it is predictable to cross USD $6.5 billion by 2021. In terms of material, the polymer had the largest share in the global microfluidic devices market, and it is expected to grow at the highest CAGR among all the materials during the forecast period.
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Taste the market data and market information presented through more than 70 market data tables and figures spread in 132 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on "Global Microfluidic Devices Market Information- Global Forecast to 2021"
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Point of care testing is the one of largest consumer of microfluidic devices device market
Globally, the market for microfluidic devices is gaining significant importance due to growing R&D investment in life sciences, pharmaceuticals, and increasing point of care testing demand. The total microfluidic devices market is expected to reach $6.5 billion by 2020 from 1.9 billion in 2014. Point of care testing is by far the fastest growing application area of microfluidic devices and it is expected to reach $1.8 billion in 2021. An increase in point of care testing, as an effective method for delivery of treatment, has also led to increase in the demand for microfluidic devices in the global market.
Some of the factors driving the microfluidic devices market are increase in the demand for point of care testing products, rise in the commercial and analytical application of these devices and use of microfluidic products for miniaturization of chip.
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North America and EU regions to dominate the microfluidic devices Market Information in 2015
North America is the largest market for microfluidic devices, with factors such as growing old age population, increasing healthcare awareness, rising chronic and lifestyle diseases, technological developments for various home use applications and wider insurance infrastructure facilities driving the growth of microfluidic devices. With the rise in overall healthcare expenditure, the use of these devices has increased, since these devices provide accurate, reliable and quick results for early detection and prevention of diseases.
The European market for microfluidic devices is driven by increasing diagnostic requirements, due to rise in lifestyle associated diseases and increasing geriatric population. On the other hand, the increasing healthcare expenditure in the region has led to a shift in the focus of healthcare from hospitals to home, leading to increased use of microfluidic devices in the region.
According to the European Federation of Pharmaceutical Industries and Associations, in 2011, R&D investment in Europe was about $40.2 billion, which lead to increased production of drugs in pipeline. The use of microfluidic devices is also expected to increase micro reactors in drug synthesis and toxicity testing in drug development.
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This report includes a study of strategies, of major market players. It includes the product portfolios, developments of leading major players such as F. Hoffmann-La Roche AG, Abbott Laboratories, Agilent Technologies, Fluidigm Corporation, Cepheid etc and others.
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenerios & strategies, of the microfluidic devices market, including the high-growth regions, countries and their political, economical and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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