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Microfluidics Technologies Market Analysis and Forecast (2016-2022) –By Product Type, Formulation, and Region

Microfluidics is a field dealing with the manipulation of different kinds of fluids by various means. The microfluidics technology plays a very important in numerous areas of functionality like research, construction, healthcare and so on. Components like micropumps and microvalves are the key instruments used in the application of microfluidics technologies. The field of microfluidics is a constantly evolving market with continuous research carried out by professional as well as educational institutions.

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The major user of microfluidics is the biomedical field where the manipulation of fluids is done for the production of new medicines and integration of medical tests. It is also finding applications in the field of microelectronics where the use of microfluidics has led to the development of chips that are finding use in complex applications and an extensive range of devices.

The major technologies used in microfluidics are continuous flow-based microfluidics, droplet-based microfluidics, digital microfluidics, acoustic droplet ejection and DNA chips. The research in this field is happening at a rapid rate by a myriad of institutions.

Market Dynamics
Increasing complexity and need for perfection are shaping up the market for microfluidics technologies. The need for new drugs, integrated tests and high precision electronics devices is leading the demand for the advent of microfluidics technologies. Also, along with its own demand, microfluidics is also causing an increase in demand for polymers like thermosets and materials like silicon and glass due to their use in manufacturing microfluidic devices.
Also, looking on a global aspect , with the rise in a number of infectious diseases and the need for increased efficiency in the treatment of various chronic devices is leading the growth of this market, especially in developed countries of the North American and European region where extensive research is being carried out by established institutions as well as start-ups to harness the potential of this market.

Market Segmentation
The microfluidics market can be segmented on the basis of various factors namely the applications like biomedical, biodefense and microelectronics. The market can also be segmented on the basis of materials used like silicon, glass, polymers and on the basis of components used like micropumps, microneedles, and microvalves.
Apart from the technical factors, the market can be segmented on geographical basis depending on the level of development as this plays an important role in determining the level of demand for microfluidics and its growth in terms of technology.

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Regional/Geographic Analysis
On the basis of geography, the developed countries, mainly in North America and Europe drive the major demand and growth of this market due to their need for advanced drugs and more efficient treatment procedures, mainly in the case of chronic diseases. However, with increasing research in this field, there is an expectation for the increase in affordability so that they can also be extensively used by developing and emerging economies of the world, mainly in the Asia Pacific region.

There is a myriad of opportunities regarding the range of products that can be developed in this field and at the same time, ensuring their affordability for ensuring growth in the emerging countries as well.

Key Players
The major global players include Danaher Corporation, Becton Dickinson, Agilent Technologies and also some start-ups are arising in this space.

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