QYResearch: The global market for Microfluidic Chips is expected to reach about 4827.27 M USD by 2022

QYResearch: The global market
for Microfluidic Chips is
expected to reach about
4827.27 M USD by 2022
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QYResearch
A microfluidic chip is a set of micro-channels etched or molded
into a material (glass, silicon or polymer such as PDMS, for
PolyDimethylSiloxane).
The micro-channels forming the microfluidic chip are connected
together in order to achieve the desired features (mix, pump, sort,
control bio-chemical environment).
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QYResearch
Microfluidic Chips industry has much fragmented, manufacturers are mostly in the USA.
Among them, USA Production value accounted for less than 36.81% of the total value
of global Microfluidic Chips in 2016. Agilent is the world leading manufacturer in global
Microfluidic Chips market with the market share of 3.77% in 2016.
Compared to 2015, Microfluidic Chips market managed to increase sales by 17.60% to
2.29 Billion USD worldwide in 2016.
According to QYResearch, The global Microfluidic Chips production market is expected
to reach 4.83 Billion USD by 2022 from 2.70 Billion USD in 2017, growing at a CAGR of
12.34% from 2017 to 2022. And USA market is expected to become the biggest
Consumption market with 1.86 Billion USD of revenue in 2022.
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QYResearch
North America is the largest regional segment of the global microfluidics market,
followed by Europe and Asia-Pacific. The large share of this region can be attributed
to growing incidence rate of various infectious diseases, availability of insurance
coverage for laboratory testing procedures, sufficient reimbursements for medical
devices, and presence of well-structured distribution channels in the region. In
addition, an increase in the demand for self-administration and home healthcare
devices, and increasing applications of micropumps, and transdermal microneedles for
chronic disease areas such as migraine, diabetes, cancer pain, and asthma have boosted
the growth of this market. However, the Asia-Pacific region is the fastest-growing
market owing to factors such as rising geriatric population, growing per capita income,
increasing investments in the healthcare industry by key market players, rising demand
for advanced technologies, and expansion of private-sector hospitals to rural areas in
various countries.
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QYResearch
In the past few years, as the main raw material
price was reduced, with the increasing in production
capacity, expected that the Microfluidic Chips raw
material price will be stable in the future. However,
the improvement of energy, transportation costs,
and labor costs, will play a significant role in
promoting the cost of Microfluidic Chips.
There are companies adding new capacities and aims
at the cost and quality leadership which shall
improve profitability. As the same time, companies
are focusing on technological innovation, equipment
upgrades, and process improvements, to reduce
costs and improve quality.
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QYResearch
The average price of Microfluidic Chips
will fall further. The product average
price declined in the past few years due
to the technology development.
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