A microfluidic device is a well-accepted technology and has several applications. The technology allows integration of many medical tests on a single chip. It has become an essential technology for integration, industrialization, miniaturization and parallelization of various tests in the field of diagnostics, drug development and biological research.
Some of the factors driving the microfluidic devices market are increase in the demand for point of care testing (POCT) products, rise in the commercial and analytical application of these devices and use of microfluidic products for miniaturization of chip. Some of the challenges faced by the market are adherence to stringent regulatory requirements to decelerate growth and geometrical and surface chemistry issues.
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Microfluidic devices are becoming more and more important for many chemical and biological analyses. Recently there has been an increase in the demand for these devices in proteomics and genomics. With the growth of the low cost genomic devices and further enhancements in microfluidic equipment, an increase in research in biopharmaceuticals is expected. The overall market has also experienced development due to recent product innovations and various industry partnerships and collaborations. The use of microfluidic devices has gained importance in the biology and medical fields due to its potential to reduce sample and reagent volumes.
On the basis of material, the microfluidic devices market is classified into glass, polymer, silicon and others. Polymer is the main segment of the microfluidic devices market based on material type. By material, polymer accounts the largest share in the microfluidics market and it is expected to grow at a CAGR of 25.7% during the period 2015 to 2020. Some of the factors driving the demand of polymer in microfluidic devices include rising acceptance of polymers by manufacturers, driven by suitable properties of polymers, such as enhanced mechanical strength, optical transparency and chemical stability.
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On the basis of application, the microfluidic devices market is divided into point of care testing, drug delivery, pharmaceutical and life science research, analytical devices, clinical and veterinary diagnostics, environmental and industrial segment, and others. The pharmaceutical and life science research accounted for the largest share in application segment of microfluidic devices market in 2014. Point of care testing application witnessed the fastest growth in microfluidic devices market during 2011 to 2014.
The major competitors in the microfluidic devices market include Abbott Laboratories, Agilent Technologies, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc. Cepheid, Dolomite Centre, F. Hoffmann-La Roche, Fluidigm Corporation, Johnson & Johnson, Micronit Microfluidics, RainDance Technologies, Inc., and Siemens Healthcare, Inc.
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