2/10/15 Dublin Research and Markets has released a microfluidic device system market forecast. The global microfluidic device market was valued at $1,531.2M USD in 2013. It is likely to grow at a CAGR of 22.8% during 2013 to 2019 to reach USD $5,246.4M in 2019.
“Microfluidics is an evolving scientific field with numerous analytical applications and commercial potential. Globally, the microfluidic device market is witnessing significant growth due to increasing R&D investment in pharmaceuticals, life science and rising point of care testing demand. New trends in healthcare, such as healthcare at home, supports point of care testing (POCT) as the most efficient and effective delivery of healthcare.”
“North America was valued at $644.5M in 2013 and is expected to reach $2,095.5M in 2019, growing at a CAGR of 21.7% from 2013 to 2019. In-vitro diagnostics microfluidic device market was valued at $949.6M in 2013 and is expected to reach $3,317.4M in 2019, growing at a CAGR of 23.2% from 2013 to 2019.
Microfluidics is also being used in other areas like chemical micro reactor, sugar testers, drug screening, microprocessor cooling and micro fuel cells. The rising demand for miniaturization of medical and pharma products are the driving force behind this fast growing technology. Micro Engineering Solutions has been in the forefront of this rapidly growing technology and we are very proud of the advancements we have made with our partners in this field. Review our Projects and Micro Services pages for more details.