Miniaturization is transforming the world of electronics and this has led to the increase in businesses around the world. The adoption of technologies such as nanotechnology and micro-technologies in numerous end-user industries is changing the landscape and positively influencing the implementation of a procedure in businesses. Healthcare is one industry that is using such technologies exuberantly. Integrating micro and nanotechnologies in the healthcare segment is optimizing microbiological process, biochemical process, and clinical diagnostics. Clinical diagnostics covers vast branches such as blood, glucose, hemoglobin, and HIV. According to the World Health Organization, globally, 36.9 million individuals were living with HIV at the end of 2017, and the same year witnessed the death of 940,000 individuals. Additionally, 1.6 million casualties occurred in 2016 due to diabetes while another 2.2 million suffered from the same. The growing incidences of diseases, as stated above, support the dire need for ethical, efficient and fast diagnostic systems. Microfluidics is an electronic device that is used for diagnostics purposes. Microfluidics, also known as lab-on-chip, is used for micro total analysis that assists in chemical and biological analysis. This technology is mostly applied in the healthcare sector that deals with the study of the flow of fluids through microscopic or miniscule channels. It can be explained by managing the manipulation and control of fluids at a sub-millimeter scale. Microfluidics involves formulation, manufacture, and designing of processes and devices which further deals with an exceptionally low volume of fluid. This ultimately helps in optimizing control of laboratory processing, analytical techniques, and instrument handling. Technical advancements in the genomics and proteomics field are anticipated to lead to growth of the Microfluidics Market, which was valued at $5.15 billion in 2018. In line with the increases in investments and technical upgrades, the global microfluidics market is projected to grow at a CAGR of 18.3% during the forecast period of 2019 to 2025.
North America was observed to be the most lucrative region in the global microfluidics market, and accounted for 38.2% share of the global microfluidics market. Microfluidics is a vastly emerging field in the healthcare segment in the U.S. The presences of key market players and well-established healthcare infrastructure in the region is supporting growth of the microfluidics market. Moreover, the presence of improved and better reimbursement policies amended by the government in the region are driving growth of the microfluidics market in North America. Developments in the North American market is catalyzed by the high budget sanctions for R&D activities in the microfluidics market.
Clinical diagnostics has been observed to be the key application segment in the global microfluidics market, and is projected to exhibit growth at a CAGR of 18.8% through the forecast period. The clinical diagnostics field is witnessing heavy usage of microfluidic technology-assisted devices for point-of-care (POC) testing, which is becoming prevalent for testing of blood, urinalysis, glucose, HIV, and hemoglobin. The demand for microfluidic devices is poised to grow due to the increasing instances of HIV and of testing due to the hefty risks associated with cancer.
Microfluidics Market Competitive Landscape and Top Company Analysis
The companies influencing the microfluidics market are PerkinElmer Inc., Abbott Laboratories Inc., Cepheid Inc., Raindance Technologies, Becton, Dickinson and Company, Johnson & Johnson, Life Technologies Corporation, Bio-Rad Laboratories, Siemens Healthcare, and Microfluidic ChipShop. Players have used multiple strategies to gain a foothold in the global microfluidics market including joint ventures, agreements, expansions, new product launches, and mergers and acquisitions. Some of the biggest companies with their views and activities in the microfluidics market have been analyzed in the report.
PerkinElmer is a company based in the United States, the firm operates in the areas of life sciences research, food, biological testing, industrial testing, and diagnostics. PerkinElmer is one of the leading manufacturers of custom microfluidic devices based on customer needs. The company possesses a state of the art manufacturing facility and produces microfluidic flow sensors, digital microfluidics, digital polymerase chain reaction (PCR), and other advance microfluidic systems. The company is also integrating advanced technologies such as artificial intelligence and machine learning to understand different cellular reaction, resistance, and efficacy to drugs. Senior biological experts at the PerkinElmer facility are developing personalized cancer treatment using rich-content screening in a Chronic Lymphocytic Leukemia (CLL) disease model. Researchers here are determining elemental content of nanoparticles in individual cancer cells and metal-based chemotherapies using single cell-mass spectrometry (SC-ICP-MS) to discover potential new therapies and analyze chemotherapy resistance in individuals. The company uses single cell-mass spectrometry (SC-ICP-MS) to study cancer cells, with growing instances of cancer, the application of SC-ICP-MS is projected to attract more patients further supporting the growth in the global microfluidics market.
Microfluidic ChipShop is a German microfluidic-chip manufacturer company that uses popular laboratory standards such as microtiter plate and microscopy slides in chip formats. The company offers extensive lab-on-a-chip products that allow its customers a low-cost, low-risk, and quick operation in the field of microbiological and biochemical domain. The firm offers a large fleet of applications such as electrophoresis, extraction, mixing up, and all levels of liquid handling and manipulating in an efficient and automated format. The company holds a strong foothold in the European market as it is one of the most rapidly developing microfluidic operatives in the microfluidics market. It is evident that Europe is a well-developed economy and the region is spending a substantial amount of capital in its healthcare sector, further supporting the adjacent microfluidics market.
Bio-Rad is another clinical diagnostics and life sciences research established in California, United States. The firm gained popularity in the market with the manufacturing of The Experion™ automated electrophoresis system. This advanced system uses LabChip active microfluidics technology to automate nucleic acid and protein electrophoresis. The equipment is capable of integrating detection, data analysis, and separation in a consolidated platform. The product gained popularity as it uses samples in reagent and much smaller quantities than the conventional requirement, also the product was proactive in producing results in a 30-40 minute automated analysis process. The major application of the Experion system lies in DNA analysis, RNA analysis, and protein analysis. The increased microbiological testing related to DNA and RNA in both the developed and developing economies is anticipated to impact the microfluidics market.
Bio-Rad Acquisition of RainDance Technologies
RainDance is a Massachusetts based company that delivers droplet technology to enable research in non-invasive liquid biopsy. In January 2017, Bio-Rad Laboratories acquired the company RainDance Technologies, the terms of the deal were classified. RainDance technologies offers genomic tools for ultra-sensitive detection in various diseases such as cancer, infectious, and other inherited diseases. By acquiring the RainDance Technologies, the company Bio-Rad aims to expand its research and operations in the field of non-invasive liquid biopsy. Some of the widely applicable genomic tools from RainDance includes ThunderStorm®, ThunderBolts™, and RainDrop® Digital PCR.
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