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Health Care Microfluidics Market to Grow to Nearly $4 Billion in 2020

20:00 EDT 20 Jul 2015 | Marketwired

BOSTON, MA -- (Marketwired) -- 07/21/15 -- Microfluidics can offer portable, cheap, single-use devices that replace centralized laboratory equipment in health care facilities, and open new point-of-care (POC) diagnostic opportunities. As the technology advances and medicine grows more personalized, the overall health care market for microfluidics will swell to nearly $4 billion in 2020, growing at a compound annual growth rate (CAGR) of 13%, according to Lux Research.

"Microfluidics has numerous potential applications in health care, including drug discovery, formulation, and delivery, as well as life sciences research," said Milos Todorovic, Lux Research Analyst and lead author of the report titled, "Health Care Microfluidics Value Chain: A Story of Growing Pains."

"However, POC diagnostics is going to be the biggest opportunity for microfluidics, with markets in the developing world providing the greatest growth," he added.

Lux Research analysts evaluated the opportunities for microfluidics in health care. Among their findings:

The report, titled "Health Care Microfluidics Value Chain: A Story of Growing Pains," is part of the Lux Research BioElectronics Intelligence service.

About Lux Research

Lux Research provides strategic advice and ongoing intelligence for emerging technologies. Leaders in business, finance and government rely on us to help them make informed strategic decisions. Through our unique research approach focused on primary research and our extensive global network, we deliver insight, connections and competitive advantage to our clients. Visit www.luxresearchinc.com for more information.

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