The Microfluidics Market Is Expected To Reach $ 27.91 Billion By 2023 With Cagr Of 22.6%

By Author: Lucintel LLC
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According to new report added in Report Banana offerings, there are significant money making opportunities available in the microfluidics market. Companies planning to enter this market need to prepare and differentiate to maximize their return on investment.
In terms of opportunities, the microfluidics market is expected to grow from $ 10.06 billion in 2018 to USD 27.91 billion by 2023; it is expected to grow at a CAGR of 22.6% during the forecast period. The in vitro diagnostics application segment is expected to grow at the highest CAGR during the forecast period and the polymer-based microfluidics segment of microfluidic components market is projected to witness the highest growth during the forecast period.
Quick returns on investment coupled with the fast results and improved portability of the medical equipment embedded with microfluidics technology are the factors expected to drive the market during the forecast period. However, complex and time-consuming regulatory approvals process for the microfluidics technology into existing workflow is one of the factors restraining the growth of this market.
The ...
... microfluidics component market is segmented into polymer-based microfluidics, glass-based microfluidics, silicone-based microfluidics, and other material-based microfluidics. The polymer-based microfluidics market is expected to witness the highest growth during the forecast period. The high growth rate of this segment is attributed to the greater preference for polymers as a substrate in microfluidic devices among manufacturers, reduced costs, enhanced profit margins, simple manufacturing process, and wider applications in pharmaceutical research, academic laboratories, and molecular diagnostics. Polymers are rapidly evolving and are widely used for various microfluidic devices due to the several benefits associated with their use such as diversity in material properties suitable for particular applications and high flexibility for micro-manufacturing processes.
Prominent players profiled in this report include Danaher (US), Thermo Fisher (US), PerkinElmer (US), Agilent (US), Bio-Rad (US), Becton, Dickinson and Company (US), Roche (Switzerland), Illumina (US), Fluidigm Microfluidics (US), QIAGEN (Netherlands), etc.
Significant Aspects of the Report and Main Highlights:
• Changing business trends in the microfluidics market
• Market segment analysis at different level such as type, application, component, material, and region
• Historical and forecast size of the microfluidics market in terms of revenue
• Major drivers and opportunities pertaining to the microfluidics market
• Competitive landscape and player positioning analysis for the market
• Key product offerings by major players and business strategies adopted
• Key challenges faced by operating players in the market space
• Analysis of major risks associated with the market operations
The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
To read more about this market please click on https://www.reportbanana.com/microfluidics-market-by-application-genomics,-prot-rpt16677.aspx
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