Global Microfluidic Components Market Forecasted to Value Over USD 5.8 Billion by 2026 End

  • 24 Sep 2019

The global microfluidic components market is predicted to value over USD 5.8 billion by 2026 end and register a CAGR of over 11.5% during the forecast period 2019 to 2026.

Increasing demand for point of care testing alongside a growing focus on data accuracy and precision remains the biggest factor increasing the microfluidic component market size. Technological advancements alongside rising demand for miniature portable devices are further driving the growth of the market. Rapid increasing demand for wearable devices is expected to spike the growth of the market. An increasing number of refineries are expected to expand the market.

The market is classified into product, industry, and region. In terms of product, flow and pressure sensors are predicted to show notable growth owing to its versatile usage in pH measurement, microfluidic biosensors, and pressure sensing. Valves are also expected to hold a vast segment of the market. Valve type consists of solenoid valves, check valves, pressure relief valves, flow control valves, proportional valves, shuttle valves, and other valves. The increasing preference towards solenoid valves in automotive industry coupled with increasing government impositions on end-user industries is expected to increase the demand for valve type, thus inflating the microfluidic components market size.

In terms of industry, the healthcare industry is expected to dominate the market. Increased focus towards developed healthcare infrastructure alongside high healthcare expenditure is positively influencing the market. Furthermore, increased government funding in the healthcare sector is boosting the microfluidic components of market growth. 

On the basis of region, the North America region is the front runner of the market. The presence of prominent companies alongside well-established healthcare infrastructure is propelling the market in the region. Factors like favourable reimbursement policies coupled with increased funding from the government are stimulating the microfluidic component market share. Growing preference for novel therapeutics among general population coupled with increased research and development activity is expected to bolster the market growth.

Prominent players of the market are IDEX Corporation, Aignep s.p.a, Elveflow. Christian Burkert GmbH & Co. KG, Cellix Ltd, Dolomite Microfluidics, The Lee Company, Parker Hannifin Corporation, SMC Corporation, Staiger GmbH & Co. KG, Camozzi Automation Spa Societa Unipersonale, Humphrey Products Corporation, FIM Valvole Srl and Fluigent SA.

Competitive Landscape: 
●     Parker Hannifin is one of the major players in the market. Parker Hannifin is bolstering the market by selling its product and expanding its product portfolio in the Middle East and the Asia Pacific. The company focuses on strategies like product enhancements and launches in a bid to strengthen its foothold in the market. Parker Aerospace, with an aim to provide faster resolution of issue, launched VSO LowPro GCA microfluidic valve in 2017
●     IDEX Health and Science acquired thinXXS in 2017. The move helped IDEX Health to extend its product portfolio in life science and point of care market

Global Microfluidic Component Market Segmentation: 
By Product 

●     Valves          
▪      Solenoid Valves
▪      Flow Control Valves
▪      Check Valves
▪      Shuttle Valves
▪      Pressure Relief Valves
▪      Proportional Valves
▪      Other Valves (Ball Valves, Safety Valves, Plug Valves, and Diaphragm Valves)
●     Flow and Pressure Controllers
●     Flow and Pressure Sensors
●     Micropumps
●     Nozzles
●     Microneedles
●     Other Components

By Industry
●     Oil & Gas
●     Healthcare
●     Aerospace & Defense
●     Consumer Electronics
●     Automotive
●     Other Industries   

By Region
●     North America
●     Europe
●     Asia Pacific
●     Latin America
●     Rest of the World

FutureWise Key Takeaways:
●  Growth Prospects
●  SWOT Analysis
●  Key Trends
●  Key data-points affecting market growth

Objectives of the Study:
To provide with an exhaustive analysis on the global microfluidic component market by product, by industry and by region 
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market 
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Rest of the World
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies



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