An Incisive, In-depth Analysis on the Microfluidics Market
This study offers a comprehensive, 360 degree analysis on the Microfluidics market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Microfluidics market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
With 14.5% CAGR, point of care testing segment is the largest segment among the global microfluidics market application segments
By the end of 2026, the point of care testing segment is projected to reach more than US$ 3,000 Mn in revenue and is estimated to grow 3.9x by 2026 end as compared to that in 2016. The point of care testing segment is the largest segment among the different application segments in the global microfluidics market, which was estimated to create close to US$ 1,000 Mn or 33.2% share of the total market in 2016. This segment is anticipated to register a CAGR of 14.5% over the forecast period.
An increasing use of point of care testing devices is likely to drive the growth of the point of care testing segment
Increasing demand for microfluidics technology based point of care devices and kits in in-vitro diagnostics is expected to propel the growth of the point of care segment over the forecast period. Point of care testing devices have significant applications in the field of genomics and proteomics. For instance, these devices help identify the DNAs of microbes that are responsible for causing various diseases and are also used in protein analysis. A prominent feature of these devices is that these can be used at bedside, hospitals, in the delivery room, in intensive care units, in doctor's offices, in emergency rooms, in pharmacies, at home for self-testing, and even in space owing to their size, disposability and integration of complex functions. An increasing use of point of care testing devices across various end-use industries is likely to drive the growth of the point of care testing segment during 2016 – 2026.
Due to increase in price pressures in various countries, companies operating in the global microfluidics market have shifted their focus to developing low-cost diagnostic devices that can provide accurate results in less time. Hence, point of care microfluidics devices have gained traction over the years owing to benefits such as low cost of development and capability to generate accurate and reliable results rapidly. Furthermore, these devices occupy less space and need fewer volumes of samples for analysis than conventional diagnostic devices, thereby decreasing operational costs. The funding that drives the development of point of care technologies comes from multiple sources including the NIH and the U.S. Department of Defense (DOD), as well as private foundations such as the Bill and Melinda Gates Foundation and other pharmaceutical industry foundations / associations.
Point of care segment is expected to register high revenue growth in Western Europe
In North America, by application type, the point of care testing segment is expected to register high revenue growth and exhibit a market attractiveness index of 1.19 over the forecast period, while in Latin America, the point of care testing segment is projected to register high revenue growth and exhibit a market attractiveness index of 1.48 over the forecast period. In Western Europe, this segment is anticipated to register high revenue growth and exhibit a market attractiveness index of 1.6 between 2016 and 2026. In Eastern Europe, the point of care testing segment is predicted to register increased revenue growth and record a market attractiveness index of 1.46 over the coming decade; while in APEJ, Future Market Insights analysts estimate the point of care testing segment to register high revenue growth, exhibiting a market attractiveness index of 1.35 over the projected period.
Consolidation, mergers and acquisitions, strategic collaborations and technology and patent transfer agreements play a vital role in shaping the global microfluidics market, according to a new report published by Future Market Insights titled “Microfluidics Market: Global Industry Analysis and Opportunity Assessment 2016–2026.” The primary objective of the report is to provide information on market dynamics including trends, drivers, restraints and opportunities for manufacturers operating in the global microfluidics market. The report also offers value forecast for the global microfluidics market for the period 2016–2026. To understand and assess the opportunities in this market, the report is categorically split into four sections, namely market analysis by material type, application type, industry and region. The report analyses the global microfluidics market in terms of market value (US$ Mn). The value chain of the global microfluidics market starts with OEMs and ends at the end user level. The report also covers microfluidics integrators, manufacturers and distributors who contribute significant value addition to finished goods. Through extensive research, our analysts have studied how the different market dynamics are likely to impact the current and future scenario of the global microfluidics market, thereby providing useful insights to market players to plan their differentiating strategies capable of evolving with the changing market landscape.
Impact analysis of key growth drivers and restraints based on the weighted average model is included in the report to better equip and arm clients with crystal-clear decision-making insights. Yearly change in inflation rate has not been considered while forecasting market numbers. Weighted average selling price (ASP) has been considered to deduce market values.
A bottom-up approach has been used to assess market numbers while a top-down approach has been used to counter-validate the reached numbers in the global microfluidics market. Macroeconomic indicators such as microfluidics industry outlook and gross domestic product have been considered to arrive at the indicated market numbers.
Acquisitions and mergers is a key strategy adopted by manufacturers and integrators in the global microfluidics market
The report starts with an overview of the global microfluidics market. The report also includes our exclusive analysis of drivers and restraints from the supply and demand side perspectives. This is followed by worldwide trends and opportunities likely to influence the global microfluidics market. In order to provide a comprehensive view of the market, we have included a detailed competitiveness analysis and information on market players with unique selling propositions. The competitive dashboard towards the end of the report provides a detailed comparison of microfluidics manufacturers on parameters such as operating margin, unique selling proposition, collective market share, and geographic concentration. The study encompasses market attractiveness analysis of various segments of the global microfluidics market. After a detailed study of this market, our analysts have come to a conclusion that acquisitions and mergers are a key strategy adopted by manufacturers and integrators for technology transfer and to increase consumer base in different geographies. Our expert analysts feel the necessity of fulfilling the requirements of various end users in different applications while ensuring the supply of the required products, as quality and a positive outcome are of utmost importance in end-use industries.
The global microfluidics market is divided into the following segments:
The forecast presented for the market assesses the total revenue generated in the global microfluidics market. When developing the forecast, the starting point involves sizing the current market, which forms the basis for the forecast of how the market is anticipated to take shape in the near future. Given the characteristics of the market, we have triangulated the outcome based on an analysis of supply side and demand side perspectives. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the forecast has been completed. For quantifying market numbers, we have conducted interviews with subject matter experts in the global microfluidics market.
In addition, we have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global microfluidics market. As previously mentioned, the global microfluidics market is split into various categories based on material type, application type, industry and region. All these segments or categories have been analysed in terms of Basis Point Share (BPS) to understand the individual segments’ relative contribution to market growth. This detailed level of information is important for identification of various key trends in the global microfluidics market. Another key feature of this report is the analysis of the global microfluidics market by segment and the corresponding market revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global microfluidics market.
Microfluidics Market Reports - Table of Contents
3.Assumptions and Acronyms Used
6.Global Microfluidics Market Trends
7.Global Microfluidics Market– Scenario Forecast
8.Global Microfluidics Market Value Chain Analysis
9.Global Microfluidics Market Price Projections per Region