DUBLIN--(BUSINESS WIRE)--The "Microfluidic Immunoassay Market by Product Type (Lab-on-chip, POC Analyzers, Reagents and Assay), Technology, Application (Cardiac, Troponin, BNP) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
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.)
- Abbott Laboratories
- Biosurfit SA
- Koninklijke Philips N.V.
- Micropoint Bioscience Inc.
- NanoEnTek Inc.
- Nanmix Inc.
- OPKO Health Inc.
- Quidel Corporation
Key Topics Covered:
1.1. Market Ecosystem
1.2. Currency and Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
3. Executive Summary
4. Market Insights
4.2. Market Dynamics
4.2.1. Market Drivers
220.127.116.11. Venture Capital Funding for the Development of LOC-Based POC Diagnostics
18.104.22.168. Rising Prevalence of Chronic Diseases Coupled with Aging Population
22.214.171.124. Greater Benefits offered by Microfluidic/LOC Over Conventional Quantifiable Technologies
126.96.36.199. Rapid Decision Making in Emergency Care
188.8.131.52. Growing Need for POC Testing in Low-Resource Setting
184.108.40.206. Rising Research Activities Related to Microfluidic Technology
4.2.2. Market Restraints
220.127.116.11. Tedious Regulatory Approval Process
18.104.22.168. Reluctance of Healthcare Professionals to Replace the Existing Diagnostic Platforms
4.2.3. Market Opportunities
22.214.171.124. Significant Opportunities from Emerging Economies
126.96.36.199. Emerging Technologies Such as Paper-Based Microfluidics - offers New Growth Avenues
4.2.4. Market Challenges
188.8.131.52. Selection of Suitable Substrate Material for Designing Microfluidic Chip
184.108.40.206. Product-Design and Cost Related Challenges in the Developing Countries
4.3. Supply Chain Analysis
4.4. Market Share Analysis
4.5. Regulatory Analysis
4.6. Pricing Analysis
4.6.1. Cost Comparison: POC Tests Vs Central Lab Test
4.6.2. Pricing Trend for Microfluidic Tests
4.6.3. Single Analyte Testing Vs Multiple Analyte Testing (Panel Testing) in Microfluidic Detection
5. Quantitative POC Immunoassay Diagnostics Market, by Product Type
5.2. Lab-On-Chip/Microfluidic Diagnostics
5.2.1. Microfluidic Analyzers
5.2.2. Microfluidic Cartridges
5.3. Other Quantifiable Point of Care Diagnostics
5.3.1. POC Analyzers
5.3.2. Reagents and Assays
6. Quantitative Point of Care Clinical Immunoassay Diagnostics Market, by Technology ($Value)
6.2. Point-of-Care Lab-On-Chip Technology
6.2.1. Electrochemical LOC POC Technology
6.2.2. Optical Point-of-Care Lab-On-Chip Technology
6.3. Quantitative Non-LOC POC Technology
7. Microfluidic POC Immunoassay Diagnostics Market, by Application ($Value)
7.2. Cardiac Biomarker Detection
7.2.1. Single Biomarker Assay
220.127.116.11. Brain Natriuretic Peptide (BNP)
18.104.22.168. Other Cardiac Biomarkers
7.2.2. Multiplexed (Panel) Assay
7.3. Inflammatory Biomarker Detection
7.4. Other Biomarkers
7.5. Emerging Biomarkers
8. Geographic Analysis
9. Competitive Landscape
9.1. Competitive Benchmarking
9.2. Quantitative POC Immunoassay Diagnostics Products
10. Company Profiles
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