The Global Micro-Reactor Technology Market is predicted to touch USD 108928 million at a 19.05% CAGR over the forecast period (2016-2022), states the latest Market Research Future (MRFR) report. Microreactors have proved in being highly beneficial in various applications such as pharmaceuticals, specialty chemicals, commodity chemicals, amid others. These devices provide enhanced mixing as well as heating capabilities in comparison to the batch process resulting in higher yields and improved product profiles.
The Micro-Reactor Technology is generally a constant flow reactor that is a contrast to or with a batch reactor. It offers an array of perks over the conventional scale reactor such as finer level of process control, on-demand/on-site production, scalability, reliability, safety, yield and reaction speed, and huge improvements in energy efficiency. Besides, the use of this technology also provides extra perks with regards to operating expenses and capital investment.
Various factors are propelling the micro-reactor technology market growth. Some of these factors, according to the Market Research Future report, include growing demand for 3D printed micro-reactor chiefly for its high designing capability and affordability, growing demand in the pharmaceuticals industry, growing safety concerns in the chemical industry, and increasing regulations. The one-step reaction offered by Micro-Reactor Technology helps in eliminating the risk related to waste products, thereby offering super-quality end products that are driving its use across various end use verticals to attain unparalleled productivity. This again is boosting the market growth.
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Leading players profiled in the Micro-Reactor Technology Market Report include Chemtrix Ltd, Uniqsis Ltd, Ehrfeld Mikrotechnik BTS, Vapourtec Ltd, Thaletec GmbH, Microinnova Engineering GmbH, and Things Factory, among others. Key players are using various strategies such as expansions, partnerships, collaborations, mergers and acquisitions, research and development, product innovation and product expansion, and much more for creating a foothold in the market.
March 2019: Mayo Clinic Laboratories has joined hands with Breath Diagnostics in order to create a new clinical diagnostic test using the patented OneBreadth micro-reactor technology which will use the breath sample of a patient for identifying individual biomarkers which can aid in predicting various diseases.
The MRFR report offers a wide segmental analysis of the Micro-Reactor Technology Market based on End User, Applications and Types.
Based on Types, the Micro-Reactor Technology Market is segmented into reusable and disposable. Of these, the disposable segment will have the largest share in the market over the forecast period.
Based on Applications, the Micro-Reactor Technology Market is segmented into material analysis, process analysis, polymer synthesis, chemical synthesis, and others. Of these, the chemical synthesis segment will dominate the market over the forecast period.
Based on End Users, the Micro-Reactor Technology Market is segmented into commodity chemicals, pharmaceuticals, specialty chemicals, and others. Of these, the specialty chemicals market will lead the market over the forecast period.
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Based on the Region, the Micro-Reactor Technology Market report covers the latest trends and growth opportunities across Latin America, the Middle East and Africa, Asia Pacific, North America, and Europe. Of these, North America will remain the most lucrative market over the forecast period. It is predicted to touch USD 40, 574 million at an 18.66% CAGR. This is because North America is a pro with regards to research and development. Thus, several institutes and laboratories have led to a burgeoning demand for the micro-reactor technology. Moreover, this technology is being widely used by several drug companies and also in the pharmaceutical sector for better results. This again, is pushing market growth.
The Micro-Reactor Technology Market in Europe is predicted to have the second-largest share in the market over the forecast period. This is owing to favorable government initiatives in the region.
The Micro-Reactor Technology Market in the APAC region is predicted to grow at the fastest pace over the forecast period. It is witnessing substantial growth from the technological sector. Moreover, revamping industries are favoring the Micro-Reactor Technology in South Korea, Japan, China, and India, which is pushing market growth.
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