The global Microfluidics Prototype
Market size is expected to reach USD 1.8
billion by 2025, according to a new report by Grand View Research, Inc. It is
projected to register a CAGR of 20.54% over the forecast period.Introduction of
advanced technologies, increasing demand for low volume sample analysis, and
emergence of 3D printing technology are among the key factors likely to drive
the market during the forecast period.
The microfluidics prototype market is
anticipated to witness high growth in the forthcoming years due to increasing
investment by key market players to expedite technological innovations in the
developing industry. In July 2018, TechX Pioneer Program of the Oil and Gas
Technology Center, awarded RAB Microfluidics with a 12-month fellowship
platform including business development training, mentorship from business
consultants, and funding aid. The grant was made for the development of a
miniature lab-on-chip technology for rotating equipment offering predictive
failure analysis and real-time condition monitoring.
The development of microfluidics devices
involves a high operational cost due to functions, such as microfabrication.
Moreover, most of the prototyping methods for microfluidics devices are not
compatible with batch process. The scale-up of this method is a costly and
complicated affair. This has led to an emphasis on the development of cheaper
systems. For instance, in March 2018, researchers from the National University
of Singapore (NUS) developed a microfluidic chip that can detect
nano-bioparticles without the use of fluorescent labels providing disease
diagnosis at a low cost.
Rising research and development activities
are anticipated to bode well for market growth in Asia Pacific. For instance,
in India, the Microfluidics and Biological Physics Group of Indian Institute of
Technology Bombay uses microfluidics technology to build point-of-care
diagnostic platforms. The team uses conventional microfluidic devices and
different alternate substrates to design and develop affordable lab-on-chip
platforms.
The global market for microfluidics
prototype is startup-driven and is highly supported by government and private
institutions. For instance, in October 2017, the National Institute of Health,
USA, awarded Neofluidics with a Phase 1 Small Business Innovation Research
(SBIR) grant of USD 175,000. The grant was allotted to develop a microfluidic
device for drug screening and disease modeling studies using zebrafish embryos.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/microfluidics-prototype-market
https://www.grandviewresearch.com/industry-analysis/microfluidics-prototype-market
Further key
findings from the report suggest:
- Introduction of advanced technologies, increasing demand for low
volume sample analysis, and emergence of 3D printing technologyare
expected to propel the market at a CAGR of 20.54% from 2018 to 2025
- North America held the largest market share in 2017 and is expected
to maintain its dominance during the forecast period due to the presence
of more than 170 service providers, abundant funding opportunities, and
R&D investments
- Asia Pacific region is anticipated to spearhead the market in terms
of growth rate over the forecast period. Presence of university research
groups and spinoffs contribute significantly to the growth.
- Key contributors in microfluidics prototype market are microLIQUID;
thinXXS Microtechnology; Potomac; uFluidix; Alvéole; Micronics, Inc.;
ALine, Inc.; and research groups from various universities.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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