Microfluidics Market Latest Update Size and Share

   2020-06-16       41        Health
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On an upward growth trajectory, the global microfluidics market will chart a double digit growth over the forecast period of 2017 to 2025.

On an upward growth trajectory, the global microfluidics market will chart a double digit growth over the forecast period of 2017 to 2025. And, multiple factors of growth would lead to this buoyancy. Some of the most notable factors include portability, increase in incidence of chronic diseases, and increasing need for testing (point-of-care). A case of faster timeline for analysis is also seen as a significant growth propeller in the market.

It is quite significant to note here that incidence of chronic illnesses is quite high in developed regions of the world as well as the developing ones. For instance, a deep dive into the United States of America clearly shows that about six in every ten people have one illness that falls into this category. Furthermore, some four in every ten people have at least two of such illnesses.

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Geriatric population is also a major factor of growth. Worldwide, the phenomenon is happening at a dizzying pace with about one in every six people ready to fall into the age group of 65 and above by the year of 2050.  This, too, will be more pronounced phenomena in certain regions. Europe and North America fall into this category whereby this year number of people falling into this age group would be one in every four people. People aged 60 and above will also increase form approximately 960 million in 2017 to 2 billion in the year of 2050. These are age groups that see people particularly susceptible to illnesses and injuries.

Transparency Market Research anticipates growth in the global microfluidics market to be noted at a rate of 11.4% from 2016 to 2025.  It states that one of the most notable reasons supporting growth in the market is an increase in demand for point of care devices.

microfluidics market

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Glucometer and Pregnancy Kits to Boost the Microfluidics Market

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