North America Dominates Microfluidic Devices Market
Published By : 05 Jan 2016 | Published By : QYRESEARCH
Microfluidic devices find much of their application in the areas of medicine, cell biology research, protein crystallization, drug screening, microprocessor cooling, and sugar testing. These devices are also utilized as chemical micro-reactors and micro fuel cells.
According to a recent study, the global microfluidic devices market is witnessing an extensive increase in the demand for microfluidic devices of late. The surge in investment for R&D activities in the medical, pharmaceutical, and life science industries, as well as the rising demand for point-of-care (PoC) testing, is boosting this market extensively.
The growing trend of healthcare-at-home is also adding significantly to the growth of the worldwide market for microfluidic devices.
Here is a snapshot of the current trends in various regional microfluidic devices markets.
- The North America microfluidic devices market dominates the global microfluidic devices market.
- The early adoption of these devices, together with their multiple applications in various industries, is the prime factor, driving this market in North America.
- The increasing base of geriatric population, rising awareness regarding healthcare, growing incidence of chronic and lifestyle-related disorders, technical advancement in the field of home use applications, and appropriated reimbursement policies are other reasons, fueling the microfluidic devices market in this region.
- The rising need for better diagnosis due to the increasing frequency of ailments and the improving infrastructure of the healthcare sector are boosting the market for microfluidic devices ]in Europe.
- The substantial rise in costs associated with healthcare is diverting the interest of customers towards healthcare at home over hospitals, which is another factor, driving the demand for microfluidic devices in this region.
- Asia is showing the potential to become the most lucrative market for microfluidic devices in the global arena.
- The rapid development of the medical devices industry compared to other regions is the prime factor that has stimulated the growth of this market in Asia.
- The increasing penetration of health insurance coupled with rising adoption of advanced healthcare systems is also propelling the Asia microfluidic devices market significantly.
Becton, Dickinson and Co., Johnson & Johnson, Micronit Microfluidics, Dolomite Centre, RainDance Technologies Inc., Cepheid, Bio-Rad Laboratories Inc., Fluidigm Corp., Agilent Technologies Inc., Siemens Healthcare, Abbott Laboratories, and Roche Diagnostics are major manufacturers of microfluidic devices across the world.