Emergence of strong key players to enhance the global microfluidics market growth
The global microfluidics market is anticipated to flourish in the coming years. This surge in demand is mainly due to the emergence of several strong key players in the global market. PerkinElmer, Bio-Rad Laboratories, F. Hoffmann La-Roche, Danaher Corporation, Agilent Technologies, Thermo Fisher Scientific, and RainDance Technologies are some of the leading names in the global market. It is worth noting that the key players accounted for more 53 percent of the total market shares. The microfluidics technology comprises controlling and operating liquids with the help of flow channels.
Moreover, Thermo Fisher Scientific, Danaher Corporation, and F. Hoffman-La Roche are the most flourishing firms, owing to their enriched portfolios and global expansion. The microfluidics industry is likely to demonstrate a high-paced growth because of various applications being introduced in the in-vitro diagnostics, drug delivery sector, and pharmaceutical industry. The microfluidics market is anticipated to be fiercely competitive in the coming years. Several firms are investing in the research and development in order to maintain their market position and provide efficient solutions to their customers.
The global market for microfluidics technology is expected to witness a tremendous growth from 2018 to 2025, with a robust CAGR of 11.4 percent, according to Transparency Market Research. In year 2017, the entire market was evaluated to be worth USD 5.30 billion. This valuation is foreseen to soar USD 12.45 billion by the end of 2025. The system has gotten pace because of its developing applications in region, for example, in-vitro diagnostic methods for glucometer units and pregnancy kits and point of care gadgets. The scope of favorable circumstances offered by the worldwide microfluidics items and gadgets, for example, exactness, decrease in volume, risk, lessened costs, quick profit for speculations, and more noteworthy net revenues have demonstrated to be the key development drivers.
Moreover, the developing enthusiasm of market players in finding different sorts of polymers keeping in mind the end goal to enhance the similarity of microfluidic items to chop down their assembling costs is likewise anticipated to work for the general market soon.