In a recently published report, Microfluidics Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Microfluidics Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Microfluidics Market is valued approximately USD 12.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 22.9 % over the forecast period 2020-2027. Microfluidics is a study of devices which analyze tiny amount of liquid, used in biological sciences. With the help of microfluidics, experiments can be conducted precisely and with control at lower cost and faster pace. The microfluidics used in wide range of medical applications such as tissue engineering, point-of-care analysis, cell separation, customized cell culture system, pathogen detection in human/animals and microfluidics devices. The global microfluidics is being highly demanded due to the coronavirus pandemic. As microfluidics can handle a tiny amount of fluid in micron-scale channels and chambers along with the high surface to volume ratios allow researchers/scientists to handle less number of samples and reagents with higher efficiencies. Moreover, Microfluidic polymerase chain reaction Chromatin Immunoprecipitation (PCR ChiP) have been developed for detecting pathogens such as viruses or bacteria and protein -DNA interaction.
The rising demand for point-of-care testing, technological advancements, increasing focus on data precision and accuracy and faster testing and improved portability through microfluidic chip miniaturization are the few factors responsible for growth of the market over the forecast period. Furthermore, the rising advancements and other strategic alliance by market key players will create a lucrative demand for this market. For instance: on 11th December 2017, IDEX Healthcare & Science LLC, acquired thinXXS Microtechnology. These acquisition will lead IDEX Healthcare to expand the business of microfluidics consumables by providing greater access to core life science instrumentation market and creating new growth opportunities within the Point of Care, and Veterinary markets. Whereas, complex and time-consuming regulatory approval process is the major factor restraining the growth of global Microfluidics market during the forecast period.
The regional analysis of global Microfluidics market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world owing to the increasing demand for PoC testing, increasing incidence of chronic diseases, growing academic & government investments. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027.
Major market player included in this report are:
Camozzi Automation SPA Società Unipersonale
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
In Vitro Diagnostics
Pharmaceutical, Life Science Research, and Manufacturing
Hospitals & Diagnostic Centers
Academic & Research Institutes
Pharmaceutical & Biotechnology Companies
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Microfluidics Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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