Overview

Microfluidics Market is estimated to value over USD 64 billion by 2027 end and record a CAGR of over 19.4% during the forecast period 2020 to 2027.

The global microfluidics market growth is steered by the growing insistence for point-of-care (POC) testing, rising prevalence of persistent diseases, quicker turn-around analysis time and improvements in device portability.

Point-of-care testing permits healthcare professionals to conduct the patient diagnosis in an ambulance, the physician’s office, at field, hospital or at home. Devices assisted with microfluidic technology are currently deployed for point-of–care testing owing to their requirement of small sample volumes and they use channels that are micro-fabricated for analysing samples. Devices used for POC testing are already widely used in blood, HIV, glucose and haemoglobin testing sectors. The POC testing devices of the future would possibly emphasize on cancer and antibiotics therapies.

The POC testing devices that are based on the microfluidic technique have massive potential in the developed as well as developing nations, owing to the high amount of population affected by such diseases.

The clinical diagnostics segment is likely to hold the largest global microfluidics market share and is predicted to exhibit a substantial growth rate over the forecast time frame.

A substantial area of application for microfluidics is clinical diagnostics. Diseases, for instance, toxicity, can be identified by undertaking multiple biochemical analysis procedures and by symptom observation. The changes occurring in the blood of the patients can signify organ dysfunction or damage, before observable damages of the microscopic cells or other kinds of symptoms.

There has been an increase in the insistence for the development of an inexpensive and easy-to-handle biochip for clinical diagnostics by using plastic microfluidic chips that are fully integrated and which have the identifying or sampling capability of reliable and fast metabolic parameter measurements from a patient and that too with no or minimal invasion. Therefore, the augmentation of clinical diagnostics is predicted to aid the expansion of the global microfluidics market size.

The North America region accounts the largest microfluidics market share and it is predicted to continue its domination over the forecast period. This is credited to factors, for instance, the better reimbursement policies coupled with a well-established healthcare system and the higher adoption rate of advanced therapies amongst the population. Microfluidics is growing at a meteoric pace, especially in the U.S, with respect to massive budget sanctions for research and development. Point-of-care and molecular diagnostics primarily use microfluidic techniques for multiple applications, and thus, they account a large market share in the U.S. Due to this, the U.S holds most of the market share in the North American region.

Major market players included in the global microfluidics industry are Danaher, Thermo Fisher Scientific, Perkinelmer, Agilent Technologies, Bio-Rad Laboratories, Becton, Dickinson and Co., Illumina, F. Hoffmann-La Roche, Fluidigm Corp., Dolomite Microfludics, Qiagen, Abbott Laboratories, Biomerieux, Microfludic Chipshop, Elveflow, Celix, Micronit Microtechnologies.

Microfluidics Market

Microfluidics Market Segmentation:

By Application

In-Vitro Diagnostics

- Point-of-Care Testing

- Clinical Diagnostics

Pharmaceutical and Life Science Research

- Lab Analytics

~ Proteomic Analysis

~ Genomic Analysis

~ Cell-Based Assays

~ Capillary Electrophoresis

- Microdispensing

- Microreaction

Drug Delivery
Laboratory Testing

- Agro Food Testing

- Industrial Testing

- Environmental Testing

By Component

By Type

- Microfluidic Chips

- Microfluidic Sensors

- Micropumps

- Microneedles

- Other Components

By Material

- Polymer

- Glass

- Silicon

- Other Materials

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & 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 microfluidics market by application, by component 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 & Africa
To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
Profiling of companies to evaluate their market shares, strategies, financials and core competencies