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Nanotechnology And Micro-Fluidics Bolstering The Micro Total Analysis Systems Market At A CAGR Of 9.5%

Micro Total Analysis Systems (MTAS) find extensive usage in the medical industry, specifically in diagnostics, as well as in drug discovery and research. MTAS or Lab on Chip (LOC) devices are a type of biochips or bio MEMS (Micro Electro Mechanical Systems). LOC devices use micro-fabrication and micro fluidics to carry out sample preparation, separation and detection on a single chip.
Major drivers of MTAS market are increasing research expenditure, rising demand for personalized treatment and medication and the rising need for portable, high speed diagnostics. However, complete micro total analysis systems are very rare owing to the complexity of the integration of different functionalities into one single automized, fast, robust and reliable system showing the sensitivity needed and due to the missing acceptance of the user that has still to be established.
The global market for micro total analysis systems was USD 4 billion in 2016 and is expected to grow at a CAGR of 9.5% during the forecast period and reach at USD 8.26 billion by 2024. In 2015, the US government announced the Precision Medicine Initiative, a USD 215 Million investment to advance the field of precision medicine in oncology.
Among the applications (diagnostic & research), diagnostics accounts for the major market share of over 60% of the total market. Point of Care diagnostics are the most widely used application of MTAS, owing to the rising demand for easy and fast diagnosis as per the patient’s comfort

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Geographically, North America leads the global micro total analysis systems market followed by Europe while Asia Pacific is set to witness the highest growth and provide lucrative opportunities during the forecast period, owing to the concentration of geriatric population and rising awareness about modern medical devices in the region.
The micro total analysis systems market is highly competitive with the presence of several small and big players. Major players in the medical image analysis software market include Abbott Technologies, Siemens Healthcare, Roche Diagnostics, Bio-Rad Laboratories, Caliper Life Sciences, Life Technologies, etc.

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News Release: Nanotechnology And Micro-Fluidics Bolstering The Micro Total Analysis Systems Market At A CAGR Of 9.5%
Submitted on: January 12, 2018 07:25:25 AM
Submitted by: Steve blade
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