The global microfluidics market size reached USD 20.14 Billion in 2021 and is expected to register a revenue CAGR of 16.1% during the forecast period, according to latest analysis by Emergen Research.
The global microfluidics market size reached USD 20.14 Billion in 2021 and is expected to register a revenue CAGR of 16.1% during the forecast period, according to latest analysis by Emergen Research. The rising adoption of microfluidics in the healthcare industry is a major factor driving the growth of the market. Microfluidic devices are used in point-of-care diagnosis and have applications in drug discovery and development. They are also used for DNA analysis, cell separation, and protein detection. The increasing demand for miniaturized devices, coupled with the rising demand for personalized medicine, is expected to fuel market growth over the forecast period.
Rapid technological advancements in the field of healthcare and pharmaceuticals are projected to increase the demand for microfluidics-based products in the coming years. Currently, microfluidics is being extensively used in these two sectors for a variety of applications such as drug discovery & development, clinical diagnostics, genomics, and proteomics. The growing popularity of portable diagnostic devices is also expected to contribute to the growth of the microfluidics market in the next few years.
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Microfluidics devices used for diagnostic purposes offer rapid and accurate results. As a result, they are used across several industries such as pharmaceuticals and healthcare. In addition, microfluidics devices offer significant advantages over traditional diagnostic methods in terms of accuracy, sensitivity, and specificity. These devices can be used for point-of-care (POC) testing, which is a major factor driving the market. However, the high cost of these devices is a restraint for the market.
Sustained development of new microfluidics technologies such as 3-D printed microfluidics, paper-based microfluidics, and droplet-based microfluidics is expected to create significant market growth opportunities for the microfluidics market during the forecast period. Moreover, integration of artificial intelligence (Al) and machine learning (ML) in microfluidic devices is also gaining traction as these technologies can be used for real-time analysis and decision making in various applications. However, the high cost of microfluidic devices is a major restraint for market growth.
Microfluidic sensors that are well-designed and easy to use are gaining traction in the field of clinical diagnostics. The adoption of these sensors is rising as they offer better accuracy and specificity for a wide range of analytes including proteins, DNA, and cells. Also, since microfluidic devices can be miniaturized, they offer portability and ease-of-use.
Some Key Highlights from the Report
- On 10 May 2022, Xidasoft Corp. (USA), a leading provider of microfluidics-based products and services, announced the acquisition of Fluidigm Corporation (USA), a developer and manufacturer of integrated fluidic circuits (IFCs). The transaction is valued at $1.3 billion. The acquisition will help Xidasoft to expand its product portfolio and customer base. It will also strengthen Xidasoft’s position in the microfluidics market.
- The polymer segment accounted for a significantly robust revenue share in 2021 due to the widespread adoption of polymer materials in microfluidic products owing to their cost-effectiveness and easier availability.
- The microfluidic chip segment accounted for a significantly large revenue share in 2021 due to the large-scale acceptance of these chips in biomedical and healthcare applications. Also, the advent of advanced technologies such as 3D printing and nanofabrication is expected to create new opportunities for market growth.
- In terms of geography, North America held the largest share of the global microfluidics market in 2016 and is expected to maintain its leading position during the forecast period. The region’s large share can be attributed to the growing demand for microfluidics-based products from the healthcare and pharmaceutical sectors. Moreover, the presence of a large number of key players in the region is also expected to boost market growth in North America in the coming years.
- The Asia Pacific region is expected to witness the fastest growth over the forecast period due to the presence of a large number of key players in the region. The rising adoption of microfluidics in the healthcare and pharmaceutical industries is expected to drive market growth in the region.
- Some major companies included in the global market report are UFluidix, Quidel Corporation, biosurfit SA, Abbott, Illumina, Inc., Abaxis, PerkinElmer Inc., Bio-Rad Laboratories, Inc., Hoffmann-La Roche Ltd., and Becton Dickinson and Company (BD).
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Emergen Research has segmented the global microfluidics market based on material type, application, component, and region:
- Material Type Outlook (Revenue, USD Billion; 2019-2030)
- Polymer
- Silicone
- Glass
- Others
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Point-of-Care Testing (POCT) Diagnostics
- Drug Delivery Systems
- Pharmaceutical and Biotechnology Research
- Clinical Diagnostics
- Others
- Components Outlook (Revenue, USD Billion; 2019-2030)
- Microfluidic Chips
- Micropumps
- Microneedles
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of Middle East & Africa
- North America
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