Major factor driving growth of the global microfluidics market is wide applicability of microfluidics in various sectors such as biological, chemical, pharmaceutical, etc. In addition, it offers precise and controlled experiments, and is cost-effective. Various benefits of microfluidics include shorter analysis time and faster results, high resolution and sensitivity in the detection and separation of molecules, etc., which are expected to boost growth of the global microfluidics market.
Global microfluidics market is segmented on the basis of material type, application, and region.
On the basis of material type, the global microfluidics market is segmented into silicon-based microfluidics, glass-based microfluidics, polymer-based microfluidics, and others (paper & ceramics). The polymer-based microfluidics segment is expected to account for highest share in the global microfluidics market in terms of revenue. This is because, polymer based are good for exploratory research. The silicon based segment is projected to register highest CAGR over the forecast period.
On the basis of application, the global microfluidics market is segmented into pharmaceutical, in-vitro diagnostics and drug delivery. The in-vitro diagnostics segment is expected to account for highest share in the global microfluidics market in terms of revenue.
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Market in North America is expected to dominate in the global microfluidics market, owing to presence of prominent market players in countries in this region and use of microfluidics in forensic analysis and biological applications. Asia Pacific microfluidics market is projected to register highest CAGR in terms of revenue, owing to increasing healthcare infrastructural activities in emerging economies in this region.
Key players operating in the global microfluidics market include Abbott Laboratories, Inc., Perkinelmer, Inc., Cepheid, Inc., RainDance Technologies, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Johnson & Johnson Inc., Life Technologies Corporation, Microfluidic Chipshop GMBH, and Siemens Healthcare GmbH.