The microfluidics market provides practical application of small fluid volumes for design of systems and development of solutions. The global healthcare technology market is estimated to reach $53 billion by 2014 at a CAGR of 16%. Microfluidics is an emerging technology with growing acceptability in healthcare applications. The key driver for the microfluidics market is the ‐great (or rising) demand in point-of-care (POC) and in-vitro diagnostics. For example, according to World Health Organization (WHO), 95 million people received HIV testing in low and middle-income countries in 2010. Application of microfluidics in HIV testing at POCs is expected to cut cost, thereby increase the demand for the technology.
However, several regulatory standards are being made for the implementation of microfluidics in healthcare. The regulatory standards consume too much time for the approval process of microfluidics devices. Another challenge for the growth of the market is the implementation of emerging microfluidics technology in existing applications. To overcome this challenge, companies are investing in research and development.
Key companies profiled in this report are Abbott Laboratories, Inc., Perkinelmer, Inc., Cepheid, Inc., Raindance Technologies, Becton, Dickinson, Bio-Rad Laboratories, Inc., Johnson & Johnson, Life Technologies Corporation, Microfluidic Chipshop GMBH and Siemens Healthcare.
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