North America Microfluidics Market, By Product Type (Microfluidic-based devices and Microfluidic Components), Material (Polymer, Glass, Silicon, Other), Application (In Vitro diagnostics, Point-of-Care Testing, Clinical Diagnostics, Pharmaceutical Research, Lab Analytics, Microdispensing, Microreaction, Drug Delivery, Laboratory Testing, High Throughput Screening), Sector (Industrial, Healthcare), End User (Hospitals and Diagnostic Centers, Academic and Research Institutes, Pharmaceutical and Biotechnology Companies), Country (U.S., Canada and Mexico) Industry Trends and Forecast to 2029
Market Analysis and Insights of Microfluidics Market
Rising number of clinical studies for cell-based therapies is the major factor responsible for the growth in demand for microfluidics. Data Bridge Market Research analyses that the microfluidics market will exhibit a CAGR of around 17.90% for the forecast period of 2022-2029.
Microfluidics technology is concerned with manipulating the volume of fluid and control or regulates the quantity of chemical by using micro channels. Microfluidics is used with applications such as tissue engineering and wound healing.
Rising prevalence of chronic diseases is inducing growth in the demand for skin graft medical procedure. Rising demand for point of care testing machines coupled with rising number of technological developments of point-of-care (POC) devices is another factor propelling the growth rate of market. Rising expenditure on the development of healthcare infrastructure especially in the developing countries, growing medical tourism, growing attention on data precision and accuracy and ever-rising geriatric population base will further create lucrative growth opportunities for the market.
However, unfavourable reimbursement policies and low awareness in the underdeveloped economies will create hindrance in the way of market growth. High costs associated with the research and development proficiencies and dearth of trained medical professionals will further derail the market growth rate. Inadequate healthcare infrastructure and lack of standardization/commercialization of microfluidic devices will also challenge the market growth rate.
This microfluidics market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on microfluidics market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
North America Microfluidics Market Scope and Market Size
The microfluidics market is segmented on the basis of product type, application and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product type, the microfluidics market is segmented into microfluidic-based devices and microfluidic components. Microfluidic components is further sub segmented into microfluidic chips, flow and pressure sensors, flow and pressure controllers, microfluidic valves, micropumps, microneedles and other components.
- On the basis of application, the microfluidics market is segmented into in vitro diagnostics, pharmaceutical and life science research and manufacturing and therapeutics. In vitro diagnostics is further sub segmented into clinical diagnostics, point-of-care testing and veterinary diagnostics. pharmaceutical and life science research and manufacturing is further sub segmented into lab analytics, microdispensing and microreaction. Lab analytics is further sub segmented into proteomics, genomics, cell-based assays and capillary electrophoresis. Therapeutics is further sub segmented into drug delivery and wearable devices.
- On the basis of end user, the microfluidics market is segmented into hospitals and diagnostic centers, academic and research institutes and pharmaceutical and biotechnology companies.
Microfluidics Market Country Level Analysis
The microfluidics market is analysed and market size insights and trends are provided by country, product type, application and end user as referenced above.
The countries covered in the microfluidics market report are U.S., Canada and Mexico.
U.S. in North America region dominates the market owing to the fact that there is established healthcare system, along with better reimbursement policies, and the higher adoption of novel therapeutics among the general population.
The country section of the microfluidics market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The microfluidics market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for microfluidics market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the microfluidics market. The data is available for historic period 2010 to 2020.
Competitive Landscape and Microfluidics Market Share Analysis
The microfluidics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to microfluidics market.
Some of the major players operating in the microfluidics market are PARKER HANNIFIN CORP, Fluigent, IDEX Health & Science LLC, Camozzi, Gems Sensors, Inc., Aignep S.P.A., SMC Corporation, Dolomite Microfluidics, Cellix Ltd., Elveflow, microfluidic ChipShop GmbH, Micronit B.V., and MICROLIQUID, S.L. among others.
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