Microfluidic Immunoassay Market is predicted to grow with a CAGR of over 12% during the forecast period 2022 to 2028.

The microfluidic technology has recently garnered substantial interest. This is primarily owing to the reduced need of separate instruments with the integration of entire lab process on a single chip. The microfluidic system has showcased promising results in the immunosensor division. These sensors provide substantial benefits over traditional methods like high surface to volume ratio to transport efficient mass in immunoreactions. Such advancements in immunosensors and the increasing prevalence of diseases, the market is likely to showcase substantial growth during the forecast period. 
Paper based microfluidics is the new microfluidic immunoassay market trend and this is mainly owing to many benefits of paper material like low cost of substrate material and which is compatible with a variety of medical applications. Furthermore, an extensive research has been conducted over paper-based microfluidics. For instance, Diagnostics for All Inc. develops paper-based LOC that costs low aiming at providing low-cost diagnostics to developing and underdeveloped nations. As the research for paper-based microfluidics has been financed heavily, it is likely to create an efficient alternative for traditional diagnostic devices over the coming years.

Market Segmentation:

By Product Type
• Lab-on-chip/microfluidic diagnostics
  o Microfluidic Analyzers
  o MicrofluidicCartridges
• Other Quantifiable POC diagnostics
  o POC Analyzers
  o Reagents and Assays

By Technology
• Point of Care Lab on Chip Technology
  o Electrochemical LOC POC Technology
  o Optical POC LOC Technology
• Non Lab on Chip Point of Care Technology
By Application

• Cardiac Biomarker Detection
  o Single Biomarker Assay
    • Troponin
    • Brain Natriuretic Peptide (BNP)
    • Other Cardiac Biomarkers
  o Multiplexed Panel Assay
• Inflammatory Biomarker Detection
• Other Biomarkers
• Emerging Biomarkers

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

The market is segregated into product, technology and region. The product segment is fragmented into microfluidic diagnostic, POC analyzers, reagent and assay. The microfluidic diagnostic segment is predicted to account for the largest microfluidic immunoassay market share during the forecast period. The microfluidic system has the cartridge as the core component that helps in integrating the storage of reagents, fluid handling components and biosensor array. Sub-components like microchannels, microfilters, microvalves, micropumps are integrated on one chip to control and analyse biological constituents at a micron level. The cost of the cartridge depends on the material type, reagent used and design type. The technology segment is bifurcated into point of care lab on chip technology and non-lab on chip point of care technology. The point of care lab on chip technology is predicted to lead the market owing to the rising demand for miniaturising the process of microfluidics and to obtain effective results. 

Regional Analysis:

The North America region is anticipated to dominate the market owing to the increased adoption of immunoassay technology with the emergence of lab-on-chip technology and the rising disposable income. However, the Asia Pacific region is predicted to proliferate at a quicker rate during the forecasted timeframe. With improvements in the healthcare infrastructure, rise in the innovation pertaining to microfluidics and the business expansion of key players in the region.
Competitive Landscape:                            
Some of the prominent market players are Abaxis, Inc. (a subsidiary of Zoetis Inc.), Nanōmix, Inc., Abbott Laboratories, Koninklijke Philips N.V., Biosurfit SA, Micropoint Bioscience, Inc., Siloam Biosciences, NanoEnTek Inc., OPKO Health, Inc., Quidel Corporation.

FutureWise Key Takeaways:

•    Growth prospects
•    SWOT analysis 
•    Key market trends 
•    Key data-points affecting market growth

Objectives of the Study:

•    To provide with an exhaustive analysis on the global microfluidic immunoassay market By Product Type, By Technology, By Application and by region
•    To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•    To 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 analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions  

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