Microfluidic technologies market will reach $3.5bn in 2017

Monday 29 July 2013, Amsterdam

A new report predicts the world market for microfluidics will reach $3.5 billion in 2017. That forecast and others appear in Microfluidic Technologies: Biopharmaceutical and Healthcare Applications 2013-2023, published in June 2013.

This report predicts the global microfluidic technologies market will achieve strong growth from 2013 to 2023. Market expansion will be driven by a growing demand for sensitive and robust medical devices. Microfluidics technology is gaining importance in biology and medicine owing to its potential to reduce sample and reagent volumes and to carry out reaction and detection at reduced cost and greater speed. The use of microfluidics in diagnostics is a well established segment of the market. In addition, growing interest in point-of-care (POC) diagnostics will stimulate revenue growth.

Amritha Ramakrishnan, a pharmaceutical industry analyst, said: “The microfluidics technology market has tremendous potential for growth. This technology is helping to reduce the size of medical devices. We have already seen commercial success in the in vitro diagnostics sector with products such as iSTAT and HPLC chips. Microfluidics technology has also enabled the concept of digital PCR (dPCR), which is now becoming a part of research laboratories. Also, the application of microfluidics to scientific research has led to advances in the understanding of human biology.

“Drug delivery is the other area taking advantage of this technology. The ability to manipulate fluids using microfluidics technology makes drug administration more efficient, accurate and portable. However, this technology is still immature and, hence, the key to success lies in the increased adoption of existing products and commercialisation of new devices.”

This new study gives revenue predictions to 2023 at overall world market, submarket (application) and national level. It shows revenue forecasts of 11 microfluidic submarkets:

• In vitro diagnostics – with sub-forecasts for clinical diagnostics, point of care (POC) diagnostics, analytical devices, and other products
• Pharmaceutical and life science research – with sub-forecasts for genomics, proteomics, cell-based assays, and other products
• Drug delivery.

That investigation analyses companies, including Agilent Technologies, PerkinElmer, Cepheid and Fluidigm Corporation. It also discusses devices in development (R&D) and shows interviews with authorities in the microfluidics industry.

The report also forecasts revenues in leading national markets. It analyses the US, Japan, Germany, France, Italy, Spain, the UK, China and India. That work also assesses trends and opportunities in the world market.

Microfluidic Technologies: Biopharmaceutical and Healthcare Applications 2013-2023 adds to visiongain’s range of analytical reports on industries and markets in healthcare.