About Microfluidics technology
Microfluidics technology deals with the research and development of micro-scale devices, which are capable of handling small amounts of fluids. These devices are used in the healthcare sector to dispense the exact volume of fluids for research, drug development, and drug delivery. Microfluidic devices can also be used to monitor patient health status, ensuring early detection and treatment of diseases. The advantages of these devices are their compact size, low power consumption, cost efficiency, and high functionality.
Technavio’s analysts forecast the global microfluidic market for healthcare application to grow at a CAGR of 17.59% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global microfluidic market for healthcare application for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales and use of microfluidic devices and technology.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microfluidic Market for Healthcare Application 2016-2020
Technavio recognizes the following companies as the key players in the global microfluidic market for healthcare application: Abbott Laboratories, Agilent Technologies, Becton Dickinson and Company, Bio Rad Laboratories, RainDance Technologies, Roche Diagnostics, and Siemens Healthcare GmbH.
Other Prominent Vendors in the market are: Biocartis, Biofluidix, Cepheid, Danaher, Fluidigm, Great Basin, Life Technologies, Oxford Nanopore, PerkinElmer, Tear Lab, and Thermo Fisher Scientific.
Commenting on the report, an analyst from Technavio’s team said: “The growing use of paper-based microfluidic devices will be a major trend for market growth. The future generation of microfluidics diagnostics will focus on producing these devices from paper. As of 2015, extensive research is being carried out in this direction. Paper-based microfluidic devices will use hydrophobic channel walls printed on paper. These hydrophobic walls will ensure that the speed and flow direction of the liquid is controlled. The use of paper to make such devices will reduce the cost of these devices drastically, along with making them very easy to dispose of. In 2015, this paper-based technique was limited to devices, which have simple designs. However, the use of this technique will have a considerable impact on the microfluidic market in the forecast period.”
According to the report, growth in lifestyle diseases will be the key driver for market growth. The growth of lifestyle-related diseases is having an adverse impact on life expectancy on a global scale. According to World Health Organization (WHO), non-communicable diseases are the leading cause of mortality worldwide, especially in the developing nations. Lifestyle-related diseases are associated mainly with the excessive use of tobacco, harmful use of alcohol, and poor diet. WHO has warned that public policies are required to prevent these lifestyle-related diseases and reduce the effect of these factors on the health of individuals, as they lead to high blood pressure, high cholesterol levels, and high incidence of diabetes.
Further, the report states that reliability issues will be a major challenge for the market. Microfluidic devices have to be assembled, integrated, and packaged before use. Although the system components are reliable, poor assembly can affect the reliability of the system. In order for these devices to be reliable, the components connected to the device must endure high pressure, offer protection in harsh environments, and allow fluid input. If the device is not airtight, it may result in sensor contamination, delamination, cracks, leakage, fractures, and embrittlement. At the time of inserting the fluid into the device, the fluidic pathways, as well as the optical and electronic ones, have to be aligned; else the device will not function properly.
Abbott Laboratories, Agilent Technologies, Becton Dickinson and Company, Bio Rad Laboratories, RainDance Technologies, Roche Diagnostics, Siemens Healthcare GmbH.Biocartis, Biofluidix, Cepheid, Danaher, Fluidigm, Great Basin, Life Technologies, Oxford Nanopore, PerkinElmer, Tear Lab, Thermo Fisher Scientific.
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