Australia Microfluidics Market to Undergo Significant Growth Through 2025
Technological advancements
and development of microfluidic 3D lab-on-a-chip devices to drive Australia
microfluidics market
According
to TechSci Research report, “Australia Microfluidics Market By Component Type
(Microfluidic Chips, Microfluidic Sensors, Microfluidic Pumps, Microneedles,
Others), By Material (Polymer, Glass, Silicon, PDMS, Other), By Application (In
Vitro diagnostics (Point-of-Care Testing, Clinical Diagnostics, Environmental
Testing, Industrial Testing, Agro Food Testing), Pharmaceutical Research (Lab
Analytics, Microdispensing, Microreaction), Drug Delivery (Inhaler Nozzles,
Microneedles, Micropumps), By Region, Forecast & Opportunities, 2025”, the market is expected to grow at a significant CAGR
during the forecast period. Key factors propelling the growth of Australia
microfluidics market include technological advancements in diagnostics devices,
rising demand for point-of-care testing and growing focus on data precision
& accuracy. Moreover, development of advanced lab-on-a-chip technologies
have led to surge in demand for microfluidics in Australia. Also, introduction
of cost-effective mass-production process of diagnostic devices through
lab-on-chip technologies are augmenting Australia microfluidics market. On the
other hand, low-volume sample analysis and high-throughput screening
methodologies are further anticipated to fuel the market growth in the coming
years.
Additionally, growing adoption of vitro diagnostics
are acting as major growth factor for microfluidics market in Australia.
Evolution of microfluidics-based 3D cell culture systems such as organ-on-a-chip
are also supporting the market growth. Furthermore, microfluidics offers
several advantages including fast returns on investment and faster testing
which are leading to their growing demand in Australia. Apart from that, growing prevalence of chronic
diseases and increasing requirement for molecular diagnosis are expected to
drive Australia microfluidics market through 2025.
However, the market might also face some restraints.
Issues related to regulatory requirement for approval of microfluidics devices might
pose as a challenge for manufacturers.
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The Australia
microfluidics market is segmented based on component type, material,
application, sector, end user and region. Based on sector, the market is
segmented into industrial and healthcare. Among them, the healthcare sector is
undergoing fastest growth and is anticipated to dominate the market through
2025 owing to growing use of microfluidics techniques in laboratory analytical
testing and point-of-care testing.
Based
on end user, Australia microfluidics market is categorized into hospitals,
industrial R&D, research laboratories and academia. Among them, the
hospital segment is expected to dominate the market during the forecast period as
they provide closer monitoring and faster diagnosis which are leading to high
demand from hospital segment. Also, rapid diagnosis of various chronic diseases
is making hospital segment the fastest growing segment in Australia.
Major players operating in the Australia
microfluidics market include Parker Hannifin (Australia) Pty Ltd, Becton
Dickinson Pty Ltd, MiniFAB (Aust) Pty Ltd, Thermo Fisher Scientific Australia
Pty Ltd, Roche Diagnostics Australia Pty Ltd, Bio-Rad Laboratories Pty., Ltd.,
Danaher Australia Holding Pty Ltd, Abbott Australasia Pty Limited and
Commonwealth Scientific and Industrial Research Organisation (CSIRO). The
companies are increasing their market presence in Australia by introducing new
technologies at affordable prices.
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“The well-established
healthcare system in Australia is making the country a lucrative market for microfluidic manufacturers. The
government also offers better reimbursement policies which is boosting the
growth of this market. Also, growing investment in R&D activities and
increasing uses of microfluidic technology for various applications are key
growth drivers for Australia microfluidics market. The country is
also witnessing high adoption of novel therapeutics among general masses which
is a positive signal for companies dealing in microfluidics,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based global management consulting
firm.
“Australia Microfluidics Market By Component Type
(Microfluidic Chips, Microfluidic Sensors, Microfluidic Pumps, Microneedles,
Others), By Material (Polymer, Glass, Silicon, PDMS, Other), By Application (In
Vitro diagnostics (Point-of-Care Testing, Clinical Diagnostics, Environmental
Testing, Industrial Testing, Agro Food Testing), Pharmaceutical Research (Lab
Analytics, Microdispensing, Microreaction), Drug Delivery (Inhaler Nozzles,
Microneedles, Micropumps), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of Australia
microfluidics market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in Australia microfluidics market.
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