Overview

Microfluidic components market is poised to register a CAGR of 12.7% during the forecast period 2022 to 2028.

Factors such as increasing incidences of chronic diseases are expanding the microfluidic component market size. The increasing demand for in-vitro diagnostics is further complementing the growth of the market. According to the World Health Organization (WHO), 95 million people received HIV testing in developing and under-developing economies. The growing number has led to a reduction in the price of microfluidics in HIV testing at POCs, thus inflating the microfluidic components market share.

The market is classified into product, industry, and region. In terms of product, flow and pressure sensors are predicted to show notable growth due to its growing use in pressure sensing and microfluidics conductivity measurement. Furthermore, the high accuracy and control stability offered by flow and pressure controllers is bolstering the market. Valves are also expected to hold a vast segment of the market owing to its increasing use in the automotive sector. The growing demand for power generation alongside increasing investments in multiple industries is playing a catalyst role in increasing the microfluidic components market size.

In terms of region, the Asia-Pacific region is expected to show exponential growth owing to the rise in industrialization and investments in water infrastructure. Growing urbanization and rising number of infrastructural development projects in India and China are complementing the growth of the market. Growth of chemicals, aerospace and power & energy sectors is also positively influencing the market.

Prominent players of the market are IDEX Corporation, Aignep s.p.a, Elveflow. Christian Burkert GmbH & Co. KG, Cellix Ltd, Dolomite Microfluidics, The Lee Company, Parker Hannifin Corporation, SMC Corporation, Staiger GmbH & Co. KG, Camozzi Automation Spa Societa Unipersonale, Humphrey Products Corporation, FIM Valvole Srl and Fluigent SA.

Competitive Landscape:
● Parker Hannifin is one of the major players in the market. Parker Hannifin is bolstering the market by selling its product and expanding its product portfolio in the Middle East and Asia. The company focuses on strategies like product enhancements and launches in a bid to strengthen its foothold in the market. Parker Aerospace, to provide faster resolution of the issue, launched VSO LowPro GCA microfluidic valve in 2017
● IDEX Health and Science acquired thinXXS in 2017. The move helped IDEX Health to extend its product portfolio in life science and point of care market

Global Microfluidic Component Market Segmentation:
By Product
● Valves
o Solenoid Valves
o Flow Control Valves
o Check Valves
o Shuttle Valves
o Pressure Relief Valves
o Proportional Valves
o Other Valves (Ball Valves, Safety Valves, Plug Valves, and Diaphragm Valves)
● Flow and Pressure Controllers
● Flow and Pressure Sensors
● Micropumps
● Nozzles
● Microneedles
● Other Components

By Industry
● Oil & Gas
● Healthcare
● Aerospace & Defense
● Consumer Electronics
● Automotive
● Other Industries

By Region
● North America
● Europe
● Asia Pacific
● Latin America
● Middle East and Africa

FutureWise Key Takeaways:
● Growth Prospects
● SWOT Analysis
● Key Trends
● Key data-points affecting market growth

Objectives of the Study:
• To provide with an exhaustive analysis on the global microfluidic component market by product, by industry and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• Evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America and Middle East and Africa
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financial and core competencies

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