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Microfluidic Technologies: Biopharmaceutical and Healthcare Applications 2013-2023

Global microfluidic technologies market: $3.5 billion industry forecast by 2017


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2014-02-17 03:21:03 - Microfluidic Technologies: Biopharmaceutical and Healthcare Applications 2013-2023 - a new market research report on companiesandmarkets.com

The global microfluidics market will reach $3.5 billion in 2017. 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.

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.

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