Microfluidics Market: Revolutionizing Precision and Portability in Laboratories is likely to record a CAGR of 11.1% through 2032 | FMI

The science of Microfluidics Market allows liquids to flow through a variety of small channels or mediums, such as nozzles, pumps, or chips. Products built on this technology are capable of directing and controlling fluids at the smallest scales, which might be tens to hundreds of micrometres.

Numerous experiments can be run simultaneously thanks to microfluidics. In areas where effective spatiotemporal control is achievable, throughput can be increased. As a result, less expensive and valuable fluids, chemicals, and biological tests are used and cost less. Numerous applications, including clinical diagnostics, analytical testing, point-of-care testing, and drug delivery, make use of microfluidics-based technologies. Microfluidics-based tools and chips are used during analytical testing for genomics, proteomics, and cell-based analyses.

Microfluidics systems offer advantages such simple automation, lower overall sample and reagent use, and faster analysis times. This makes it a desirable option for a variety of tests, including chemical and biological experiments. Additionally, the technology enables parallel assay execution, which cuts down on both assay costs and execution time.

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The global microfluidics market is anticipated to develop at a 6.0% Y-o-Y annual growth rate to $11.39 billion in 2032, driven by A recent report by Future Market Insights (FMI) predicted that the worldwide microfluidics market will rise rapidly over the forecast period. By 2031, the market is projected to have increased from US$ 5.9 billion in 2021 to US$ 17.8 billion. This is a CAGR for the projection period (2022-2031) of about 11.1%.

Recent advancements in 3D cell culture using microfluidics have made it possible to create microenvironments that support tissue differentiation and can also recreate the interface between two tissues. It can also help with the mechanical microenvironment of living organs and spatiotemporal chemical gradients. Microfluidic lab-on-chip technology is increasingly in demand in the medicinal and pharmaceutical sectors as well as in anti-terrorism, environmental, food, and military applications. Additionally, the expanding consumer, environmental, and security sectors as well as the quickness, portability, accessibility, and affordability of miniaturised biosensors have enormous commercial potential.

Strategic collaborations among key players drive the microfluidics market to develop novel microfluidic platforms for drug discovery, portable diagnostic devices and others. The collaboration space is dominated by the players who have a strong product portfolio and patented technologies dedicated to clinical research and in-vitro diagnostics applications along with the local GMP certified manufacturing facilities.

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In order to overcome difficulties associated with the fabrication included into the microfluidics devices, many companies are substituting the mixers in these devices with the bubbles at large. This can be the opportunity to improve the efficiency of the microfluidics devices creating a huge opportunity in the market.

Key Takeaways from Microfluidics Study:

• The ceramics segment is anticipated to hold the maximum share of 39.9% in 2022, expanding at 13.0% CAGR during the forecast period. Ceramics’ superior chemical resistivity, flexibility, and strength make them ideal for producing microfluidics devices, as seen by their significant market share.
• The point of care testing segment is projected to account for 32.6% of the total market share in 2022 by application. In the fields of genomics and proteomics, point-of-care testing devices offer a lot of potential. These devices, for example, aid in the identification of the DNA of bacteria that cause various diseases and are also employed in protein analysis.
• In-vitro diagnostics and life science research together hold over 53% of the market in 2022 and this trend is expected to continue during the forecast period as well. The growing number of experiment carried out in life science research using microfluidics is rising. This is propelling the sector forward. Aside from that, with increasing diseases, is increasing the in-vitro diagnostics demand.
• North America is expected to account for about 25.4% of the global microfluidics market. The high frequency and growth in incidence of various diseases, and government funding for the research and clinical testing by various institutions in the North America will assist market expansion.

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Who is winning?

The key market players covered by FMI include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, Bio-Rad Laboratories, Inc., Qiagen NV, SCHOTT AG and thinXXS Microtechnology.

Some of the leading manufacturers of the microfluidics market are focusing on the development of advanced and cost-effective products and undertaking acquisitions to increase global presence.

• In October 2021, Thermo Fisher Scientific Charts Digital PCR expansion after Combinati acquisition.
• In November 2019, MicroMedicine, Inc., launched the Sorterra Cell Isolation System, an automated, microfluidics-based cell isolation technology at the Society for Immunotherapy of Cancer (SITC) Meeting.

Want more insights?

Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global microfluidics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on microfluidics market segment based on material (polymer {polyvinyl chloride (PVC) non-polyvinyl chloride}, glass, silicon, metal and ceramics), application (point of care testing, clinical diagnostics, drug delivery and analytical testing {genomics, proteomics, cell based analysis and others}), and industry (pharmaceuticals, in-vitro diagnostics, environmental research, life science research, clinical diagnostics) across seven major regions.

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Microfluidics Market by Category

By Material:

• Polymer
  • Polyvinyl Chloride (PVC)
  • Non-polyvinyl Chloride
• Glass
• Silicon
• Metal
• Ceramics

By Application:

• Point of care testing
• Clinical Diagnostics
• Drug Delivery
• Analytical Testing
  • Genomics
  • Proteomics
  • Cell based Analysis
  • Others

By Industry:

• Pharmaceuticals
• In-vitro Diagnostics
• Environmental Research
• Life Science Research
• Clinical Diagnostics

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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