Emergen Research latest document, titled ‘Global microfluidics Market - Forecast to 2027,’ is one of the most sought-after market reports involving an in-depth analysis of the global microfluidics market. The report’s authors have offered necessary details on the latest microfluidics market trends and the crucial parameters impacting both short-term and long-term market growth. Its panoramic view of the microfluidics industry entails useful insights into the estimated microfluidics market size, revenue share, and sales distribution networks.
Exhaustive coverage of the COVID-19 impact on the microfluidics industry is a major attraction of the report. The global health emergency has beleaguered the global economy, thereby disrupting this particular business domain’s functioning mechanism. It assesses the present market scenario and forecasts the pandemic’s aftermath in this business sector to help organizations boost their COVID-19.Owing to the emergence of new technologies such as digital Microfluidics, demand for microfluidic-based instruments is projected to grow.
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Some Key Highlights from the Report
The medical technology led the revenue-based market. Microfluidics offers POC diagnostics with three key benefits: quicker processing times, smaller sample sizes, and reduced test costs. Such advantages are being utilized slowly to establish POC instruments for the treatment and prevention of different illnesses, from cancer to infectious diseases.
The demand for polymer related microfluidics is projected to witness healthy development over the forecast timeline. The industry boosting aspect would be the wide variety of applications of polymer-based Microfluidics in the area of tissue engineering, medicine, and biology.
The laboratory-on-a-chip category accounted for a large share of the microfluidics industry in 2019 and is projected to retain its supremacy throughout the forecast period. Lab-on-a-chip offers fast detection speed and also helps the DNA probes to be sequenced easily.
North America dominated the market for Microfluidics in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The North America region held approximately 39.8% of the market, followed by the Asia Pacific, in the year 2019
Key participants include Fluidigm Corporation, F. Hoffmann-La Roche Ltd., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Abbott Laboratories Thermo Fisher Scientific, Micronit Micro Technologies B.V., Life Technologies Corporation, Danaher Corporation, Illumina Inc., and PerkinElmer Inc, among others.
The installation of microfluidics technology into existing systems will be a major restraining factor in market growth. Rapid developments in the biomedical, pharmaceutical, and biotechnology industries have contributed to the inadequate application of microfluidics technologies within the current healthcare structure.
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The demand for microfluidic-based pumps is projected to see substantial growth in the forecast timeframe as microfluidic systems are increasingly used in laboratory settings to conduct a wide variety of applications, such as evaluating characteristics such as pH, chemical bonding coefficients, viscosity, and other applications for cell manipulation. The fast and reliable response, non-requirement of advanced equipment, low cost, and portability would all be critical factors in the growth of the diagnostic section Point-of-care (POC).
Regional Overview:
The global microfluidics market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global microfluidics market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Key questions addressed in the report:
What are the key factors driving the global microfluidics market?
Who are the key manufacturers in this market space?
Who are the distributors, traders and dealers of this market?
What are the market opportunities and risks affecting the performance of the vendors in the global microfluidics market?
What are the sales and revenue estimations for the top manufacturers in this market over the projected timeline?
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