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Market Research Report
Microfluidic Immunoassay Market by Product Type (Lab-on-chip, POC Analyzers, Reagents and Assay), Technology, Application (Cardiac, Troponin, BNP) - Global Forecast to 2025 |
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| Published by | Meticulous Market Research Pvt. Ltd. | Product code | 911029 | ||||
| Published | Content info | 207 Pages Delivery time: 1-2 business days |
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| Microfluidic Immunoassay Market by Product Type (Lab-on-chip, POC Analyzers, Reagents and Assay), Technology, Application (Cardiac, Troponin, BNP) - Global Forecast to 2025 | ||
| Published: September 16, 2019 | Content info: 207 Pages |
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Microfluidic Immunoassay Market by Product Type (Lab-on-chip, POC Analyzers, Reagents & Assay), Technology, Application (Cardiac, Troponin, BNP) - Global Forecast to 2025
The global microfluidic immunoassay market is expected to grow at a CAGR of 12.7% from 2019 to reach $2.0 billion by 2025. The growth in microfluidic immunoassay market is mainly attributed to greater benefits offered by LOC over conventional quantifiable technologies, growing need of POC in low-resource settings, increasing research activities in the field of microfluidic technology, high influx of venture capital funding for the development of LOC-based POC diagnostics, rapid decision making in emergency care, and rising incidence and prevalence of chronic diseases coupled with aging population. In addition, emerging economies and novel technologies such as paper-based microfluidics will further provide significant opportunities for the various stakeholders in this market. However, factors such as lengthy approval time for POC devices and reluctance of healthcare professionals to replace existing diagnostic platforms - are likely to hinder the market growth. On the other hand, selection of suitable substrate material for designing microfluidic chip; difficulty in up-scaling the process for mass production; and product-design and cost related challenges in the developing countries - are recognized as the major hurdles to overcome.
The adoption of LOC/microfluidic diagnostics is expected to grow at the fastest CAGR during the forecast year. This is attributed to its capability to scaling down whole laboratory process on a single chip and expedite the process of disease diagnosis with highly precise quantitative results.
The non-LOC POC technologies segment is estimated to command the largest share of the global microfluidic immunoassay market in 2019. The large share of this segment is attributed to a greater adoption of these technologies - over the years - for wide range of diagnostic applications. However, LOC POC technology is expected to grow at the fastest CAGR during the forecast period. This is mainly attributed to greater benefits offered by LOC over conventional POC diagnostic methods and growing research activities in this field - supported by private and public funding.
On the basis of application, the cardiac biomarker detection segment is estimated to hold the largest share of the global microfluidic immunoassay market in 2019 and is poised to grow at the fastest CAGR during the forecast period. The large share this segment is attributed to high prevalence of cardiovascular diseases, availability of large number of LOC-based products for cardiac biomarkers, and relatively greater adoption of these products among end-users.
An in-depth analysis of the geographical scenario of the microfluidic immunoassay market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. North America commanded the largest share of the global microfluidic immunoassay market in 2019, followed by Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The key players operating in the global microfluidic immunoassay market are Abaxis, Inc. (a subsidiary of Zoetis Inc.), Nanomix, Inc., Abbott Laboratories, Koninklijke Philips N.V., Biosurfit SA, Micropoint Bioscience, Inc., Siloam Biosciences, NanoEnTek Inc., OPKO Health, Inc., and Quidel Corporation.
