Microfluidics Market Growing to Exhibit a Striking Growth with CAGR of 15.01% by 2029, Size, Share, Trends, Competitive Scenario and Industry Growth Analysis
The universal Microfluidics Market report uses a range of steps for collecting, recording, analysing and interpreting market data to make this report all-inclusive. The data and the information concerning the Healthcare industry are derived from consistent sources such as websites, annual reports of the companies, journals, and others and were checked and validated by the market experts. The industry analysis report speaks about the manufacturing process, type and applications. The market report also endows with the list of the leading competitors and their moves such as joint ventures, acquisitions, and mergers etc. Microfluidics report also makes available statistics on the current state of the industry as a valuable source of guidance and direction for companies and investors interested in this market.
Data Bridge Market Research analyses that the microfluidics market which was USD 23.17 billion in 2022, is expected to reach USD 70.93 billion by 2030, at a CAGR of 15.01% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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According to GLOBOCAN 2020, there were 19,282,789 new cancer cases worldwide in 2020, with a projected increase to 28,887,940 cases by 2040. As a result, global cancer incidence and modern healthcare facilities have been major drivers of market growth. Furthermore, market participants have broadened their diagnostic platforms to include POC on microfluidic devices. As a result of the expansion of the range of POC diagnostics, there will be a significant expansion in microfluidics, which may enable the development of new devices.
Market Overview:
Microfluidics is a technological method used to investigate the nature and characteristics of fluids. Its application entails the use of a set of tools for manipulating and controlling the chemical and biological processes of small volumes of fluids. It is also used in the production of microminiaturized devices with numerous tunnels and chambers through which fluids flow or are confined. In comparison to traditional fluid measuring devices, it requires fewer samples, the tools are smaller, and it provides excellent parameter control and data quality. As a result, it’s commonly used for DNA analysis, cell separation and manipulation, and PCR amplification.
Global Microfluidics Market Dynamics
Drivers
- Increased the demand for microfluidics tools
The global increase in COVID-19 cases has increased the demand for microfluidics tools. PCR is used in many approved tests, making it a preferred technique for COVID-19 diagnosis. To combat the increasing number of COVID-19 cases worldwide, several manufacturers have introduced products and increased production to meet the growing demand for IVD tests. When combined with microfluidics, the PCR technique can be accelerated, resulting in faster test results with high accuracy (from approximately 1 hour to less than 10 minutes). For instance, BeforCure, an Elvesys spin-off company, developed an ultra-fast PCR-on-chip system for virus detection.
- Rise in demand of Point-of-care diagnostics (POC)
Point-of-care diagnostics (POC) is believed to be an important part of healthcare, particularly in disease diagnosis. Microfluidics technology is ideal for point-of-care diagnostics. This technology has the potential to provide rapid and affordable point-of-care diagnostic tools to aid in the COVID-19 pandemic. The demand for point-of-care molecular diagnostics is expected to increase in the future because point-of-care diagnostics enable the early detection of disease,
Recent Developments
- In 2021, Fluidigm launched its new Biomark X microfluidics platform. Biomark X streamlines operations to reduce hands-on time and speeds up results with more data per run.
- In 2021, SCHOTT agreed to buy Applied Microarrays Inc., a microarray solutions company based in Arizona. This will strengthen the company’s presence in the United States as well as its bioscience capabilities.
Some of the major players operating in the microfluidics market are:
- Danaher (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- PerkinElmer Inc. (U.S.)
- Agilent Technologies Inc. (U.S.)
- Bio-Rad Laboratories Inc. (U.S.)
- BD (U.S.)
- Illumina, Inc. (U.S.)
- Hoffmann-La Roche (Switzerland)
- Fluidigm Corporation (U.S.)
- Dolomite Microfluidics (U.K.)
- QIAGEN (Germany)
- Abbott (U.S.)
- BIOMÉRIEUX (France)
- microfluidic ChipShop GmbH (Germany)
- Elveflow (France)
- Cellix Bio. (India)
- Micronit B.V. (Netherlands)
- PARKER HANNIFIN CORP (U.S.)
- Fortive (U.S.)
Global Microfluidics Market Scope
Product Type
- Microfluidic-based devices
- Microfluidic Components
- Microfluidic chips
- Flow and pressure sensors
- Flow and pressure controllers
- Microfluidic valves
- Micropumps
- Microneedles
- Components
Material
- Polymer
- Glass
- Silicon
- Metal
- Ceramics
- PDMS
- Other
Technology
- Medical/Healthcare
- Non-medical
Application
- In Vitro diagnostics
- Clinical diagnostics
- Point-of-care testing
- Veterinary diagnostics
- Point-of-Care Testing
- Clinical Diagnostics
- Pharmaceutical Research
- Lab Analytics
- Proteomics
- Genomics
- Cell-based assays
- Capillary electrophoresis
- Microdispensing
- Microreaction
- Drug Delivery
- Laboratory Testing
- Analytical Testing
- High Throughput Screening
Sector
- Industrial
- Healthcare
- In-vitro Diagnostics
- Environmental Research
- Clinical Diagnostics
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This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
- How will the major segments of this international market develop over the next few years?
- Who are the major players that will dominate the market in the future?
- When it comes to this industry, who are the top suppliers and producers?
- How have the most successful companies in the industry planned for future growth and expansion?
- In what sectors might we expect to see the greatest increase in demand over the coming years?
- How many distinct subsets of buyers make up this market?
- Which regional powerhouse do you foresee as becoming the largest player in the international market?
- Does a new coronavirus pandemic have any consequences?
- In what ways are established actors stymied by the entry of newcomers, and how may they be overcome?
Microfluidics Market Regional Analysis/Insights
The microfluidics market is analyzed and market size insights and trends are provided by country, product type, material, technology, application, sector and end user as referenced above.
The countries covered in the microfluidics market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the microfluidics market due to research institutions’ extensive involvement in the development of novel microfluidic devices.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the government’s increased support for developed infrastructure and robust intellectual property ownership.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Microfluidics Market: Regulations
- Market Overview
- Global Microfluidics Market, By Product Type
- Global Microfluidics Market, Material
- Global Microfluidics Market, Technology
- Global Microfluidics Market, Application
- Global Microfluidics Market, Sector
- Global Microfluidics Market, End User
- Global Microfluidics Market, By Region
- Global Microfluidics Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
Browse in-depth TOC @ https://www.databridgemarketresearch.com/toc/?dbmr=global-microfluidics-market
Browse More Reports
https://www.databridgemarketresearch.com/reports/north-america-microfluidics-market
https://www.databridgemarketresearch.com/reports/europe-microfluidics-market
https://www.databridgemarketresearch.com/reports/asia-pacific-microfluidics-market
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