Microfluidics market – Global Industry Analysis and Forecast (2023-2029)

Microfluidics market size reached USD 24.58 billion in 2022 and is expected to reach USD 74.68 billion by 2029, growing at a CAGR of 17.2 % during the forecast period. Microfluidics is a technology that offers an excellent toolkit for handling and manipulating fluid samples, suspended cells, and particles. The use of Microfluidics in industries such as pharmaceuticals and healthcare are grown in recent years. These Microfluidics devices offer significant advantages over traditional diagnostic methods in terms of accuracy, sensitivity, and specificity. It can be used for point-of-care (POC) testing, which is a major factor driving the Microfluidics market. Every year, several innovative microfluidic methods for cell observation and manipulation, organ mimicking, biomarker detection, and many more fields of study are reported. The increased accessibility allows a growing number of researchers to design, produce, and use microfluidic devices that shows the potential for widespread applications all across life sciences. Sustained development of new microfluidics technologies such as 3-D printed microfluidics, paper-based microfluidics, and droplet-based microfluidics is likely to generate significant market growth potential for the microfluidics market throughout the forecast period. The integration of artificial intelligence (Al) and machine learning (ML) in microfluidic devices are gaining traction since these technologies may be utilized for real-time analysis and decision-making in a wide range of applications. However, the high cost of Microfluidics devices is a restraint for the market. Key Points Covered in Microfluidic Industry Survey
Microfluidic market estimates and forecast 2023-2029
Key Drivers and Restraints impacting market growth
Segment-wise, Country-wise, and Region-wise analysis
Examination of the potential applications of Microfluidic and their importance in the context of emerging market paradigms.
The trends that will shape the future of microfluidic technologies and markets
Key Companies in the Microfluidics market
Microfluidics MarketTo know about the Research Methodology:-Request Free Sample Report

Microfluidics Market Dynamics:

Microfluidic methods accelerate the vaccine R&D and its production Global demand for vaccines is increasing rapidly, with >25% annual growth. The advent of new viruses such as Ebola and the current COVID-19 pandemic has resulted in more demand and increased pressure to reduce development time and cost. Microfluidic technology has the key to reducing lead times, enhancing efficiency and quality, and lowering development costs. Microfluidic tools can be used at all stages of the development and production cycle from disease analysis to optimization of production protocols, from high throughput antibody screening to vaccine encapsulation, and from adjuvant development to directed evolution of the yeast and bacteria used in vaccine biomanufacturing. DNA vaccines deliver to the patient a specific viral gene in order to generate an immune response. Bacteria may be individually encapsulated in droplets, screened for performance, and sorted using FACS to identify ideal strains using microfluidic methods. Researchers at the University of Illinois Chicago have just invented a new continuous-flow microfluidic device that will assist in the research and study of pharmaceutical compounds and their crystalline forms and structures, which are important factors in determining medication stability. This innovative technology will assist researchers as well as pharmaceutical corporations in evaluating data more quickly and significantly accelerating the drug development process. Technologically advanced systems such as implantable drug delivery systems can provide significant market growth The use of microfluidic devices for drug administration has some advantages, such as the reduction of both pain and the risk of side effects. Microfluidics brings further improvements in cost, user-friendliness, safety, and portability. Technologically advanced systems such as implanted drug delivery systems may create considerable growth opportunities for market participants, as microfluidics technology allows the manufacture of portable and wearable products that can assure accurate and consistent drug administration. Insulin pumps are the most common microfluidics-based medication delivery systems, and various related technologies for micropumps are now under development. These devices are likely to be available on a larger scale over the next two to three years. The major advantages of microfluidics, such as regulated medication release and biocompatibility are likely to provide significant opportunities for technological adoption. some researchers have succeeded in building microfluidic devices which can mimic entire biological systems, such as human organs and arteries. These microfluidics devices replicate the in vivo organs’ microenvironments and provide a low-cost preclinical test platform for research. The technique that allows this is called compartmentalization and multicompartment microfluidic-based devices can therefore be used to enhance the drug development process. Aside from portable, wearable, and implantable technologies, researchers are working on intelligent pills and subcutaneous patches for controlled release. The release can be better regulated by using micro technologies to create diffusion barriers. Pharmaceutical and medical device companies are investing extensively in creating novel drug delivery systems using microfluidics in order to profit from this market's rapid growth. Growing demand for faster and more accurate point-of-care testing. Point-of-care diagnostics is an important part of healthcare, particularly in disease diagnosis. Microfluidics also known as Lab-on-Chip [LOC] devices for biosensors and diagnostics has proven to be a robust and optimum medical technology as compared to normal laboratory-based testing, particularly in demanding and resource-constrained environments. Microfluidics' user-friendliness and ease of result interpretation have the potential to be an appealing alternative in contexts where experienced healthcare staff are few. Advantages such as portability, ease of access, ease of operation, and reduced process time compared to traditional methods of diagnosis are driving widespread adoption of microfluidic POC testing, and this trend is expected to continue over the forecast period. Market players have extended their diagnostic platforms to include point-of-care testing using microfluidic devices. The rising prevalence of lifestyle-related and viral infections increased preference for home healthcare POC testing, and use in hospitals during medical emergencies for rapid diagnosis and decision-making are expected to drive market revenue growth. Microfluidics MarketLow adoption of Microfluidics in poor nations due to its high R&D costs The high cost of R&D and manufacturing of microfluidic devices is the main obstacle to mass production. Current stringent regulatory rules such as the Food and Drug Administration (FDA) licensing procedure for medical devices have a significant impact on drug delivery, In-vitro Diagnostics (IVD), and pharmaceutical sectors. Furthermore, uncertainty in the clearance process has a significant impact on product profitability. Access to advanced healthcare is limited in certain emerging and low-income countries. Other factors that are expected to hamper the Microfluidics market growth include a lack of understanding about disease prevention, limited access to healthcare information, and a shortage of sufficient healthcare services.

Microfluidics Market Segment Analysis:

By Product Type, the Microfluidic chips segment is expected to lead the Microfluidics market during the forecast period. Microfluidic chips require less time to detect as compared to traditional medical detection equipment, making them ideal for fast detection in regions with limited medical resources. Because of their compact size, these chips have a huge surface area, which results in excellent mass transfer and analytical throughput. This approach reduces the number of samples and reagents necessary for multiplexing and high-throughput screening. Grooves or microchannels etched into silicon or polymer layers are carefully designed to allow for effective mixing. Microfluidic technologies such as lab-on-a-chip, three-dimensional (3D) cell culture, organs-on-a-chip, and droplet methods have improved rapidly. Microfluidic chips in conjunction with different detection methods are perfect for high-throughput drug detection, screening, and mechanistic investigation. The micropumps segment is expected to grow at a significant CAGR during the forecast period. Micropumps minimize dose size and represent an opportunity for the development of new therapies, which is expected to increase drug delivery applications. Micropumps are also becoming more popular in POC testing labs because they require minimal volume samples and have a shorter turnaround time. Demand for micropumps is propelling by need across various medical applications including blood transportation through artificial hearts, transdermal insulin administration, hormone treatment, pain and wound-care management, and glucose and drug injection. By Application, the lab-on-a-chip segment dominated the market and accounted for the largest revenue share of 39.5% in 2022. Lab-on-a-chip segment provides high speed for detection along with maintaining the required sensitivity during the DNA or RNA amplification and detection procedures which makes it suitable for molecular biology applications. By Material, The Polydimethylsiloxane (PDMS) segment dominated the microfluidics market and accounted for the largest revenue share of 36.7% in 2022. Polydimethylsiloxane has grown in popularity among other polymers, particularly in microfluidic devices with rapid prototyping. This is due to the great acceptability of these polymers among academic specialists, owing to the material's simplicity of production and cost. In addition, unique PDMS surface modifications are being launched into the market to address issues connected with PDMS hydrophobicity. Hydrophobicity makes operating microchannels in aqueous solutions difficult due to the fact that such analytes become adsorbed on the PDMS surface, interfering with the analysis. By End-User, the in-vitro diagnostics and life science research segment together hold over 59% of the market in 2022 and this trend is expected to continue during the forecast period. The market growth can be attributed to the increasing adoption of testing due to the pandemic. The development of automated In-vitro Diagnostics systems for laboratories and hospitals to provide efficient, accurate, and error-free diagnoses is expected to fuel the market growth during the forecast period. The growing number of an experiment carried out in life science research using microfluidics is increasing. Aside from that, the demand for in-vitro diagnostics is also increasing owing to the rising diseases all over the world.

Microfluidics MarketMicrofluidics Market Regional Insights

In North America, the Microfluidics market is expected to grow during the forecast period. Research institutions are actively involved in the development of innovative microfluidic devices, which are expected to maintain regional dominance in the worldwide market. The United States emerged as a significant contributor to the region's dominance. In addition to well-established firms, the country is home to a number of new microfluidics companies. Microfluidics is a corporation established in the United States that provides unique microfluidics technology, particularly microfluidizers. This technology is used in the production of high-shear fluid processors that produce efficient cell disruption, nanoemulsions, and particle size reduction. The high frequency and increasing prevalence of various diseases, as well as government funding for research and clinical testing by various organizations in the United States, growing R&D activities, and considerable development in the pharmaceutical and biotechnology industries are expected to increase market demand during the forecast period. Microfluidics MarketThe Asia Pacific market had a moderate revenue share in 2022. Rising demand from the biomedical and pharmaceutical industries, as well as PoCT, growing frequency of chronic diseases, and rising R&D investments, particularly in Singapore are some of the primary drivers driving the Microfluidics market growth. Various technologies for 30 printing microfluidic devices with fluid management and operating components are being developed and tested in the region. Singapore University of Technology and Design developed the approach to allow for the rapid development of microfluidics for LOC applications in chemical testing and cell research. China, Japan, and India account for the majority of revenue in the Asia-Pacific microfluidics market, and this trend is expected to continue over the forecast period. The microfluidics market in China is expected to develop at a CAGR of 18.7% over the forecast period. The Chinese government has been vocal in its support for increased infrastructure and intellectual property rights owners. As a result, the microfluidics industry is expected to grow significantly. The growing need for healthcare services is also likely to propel the microfluidics market in the region to new heights in the coming years. The Microfluidics Market report forecasts revenue growth at global, and country levels and provides an analysis of the latest industry trends in each of the sub-segments during the forecast period. MMR has segmented the global Microfluidics Market report based on Component, Deployment Mode, Organization Size, End-User, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Our team of analysts can also provide you with data in excel files and pivot tables or can assist you in creating presentations from the data sets available in the report.

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Microfluidics Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2017 to 2022 Market Size in 2022: US $ 24.58 Bn.
Forecast Period 2023 to 2029 CAGR: 17.2% Market Size in 2029: US $ 74.68 Bn.
Segments Covered: by Product Type 1. Microfluidic Chip 2. Instruments 3. Cartridges & Reagents 4. Others
by Application 1. Organs-on-chips 2. Lab-on-a-chip 3. Point of care testing 4. Continuous Flow Microfluidics 5. Acoustofluidics and Microfluidics 6. Optofluidics and Microfluidics 7. Electrophoresis and Microfluidics
by Material 1. Polydimethylsiloxane 2. Glass based 3. Others
by End-User 1. Pharmaceuticals 2. In-vitro Diagnostics 3. Environmental Research 4. Life Science Research 5. Clinical Diagnostics

Microfluidics Market, by region

 North America (United States, Canada and Mexico)  Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)  Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)  Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)  South America (Brazil, Argentina Rest of South America)

Microfluidics Market, Key Players are

1. PerkinElmer Inc. 2. Standard BioTools (Previously Fluidigm) 3. Blacktrace Holdings Ltd. (Dolomite Microfluidic) 4. Micronit 5. BioFluidix Gmbh 6. Fluigent 7. ALine Inc. 8. Philips 9. Danaher Corporation 10. Thermo Fisher Scientific 11. Agilent Technologies 12. Becton, Dickinson and Company 13. Illumina, Inc. 14. Abbott Laboratories 15. Quidel Corporation 16. Abaxis, Inc. 17. Covalent Materials, Inc. 18. Biosurfit SA 19. Micropoint Bioscience, Inc. 20. Siloam Biosciences, Inc. 21. NanoEnTek Inc. 22. OPKO Health, Inc. FAQs: 1. Who are the key players in the Microfluidics market? Ans. The Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, Bio-Rad Laboratories, Inc. are some of the market players in the Microfluidics industry. 2. Which Component segment dominates the Microfluidics market? Ans. The Software segment accounted for the largest share of the global Microfluidics market in 2022. 3. Which end-user segment of the global Microfluidics market is expected to witness the highest growth? Ans. The In-vitro Diagnostics segment accounted for the highest revenue share due to the increasing adoption of testing during pandemic. 4. How big is the Microfluidics market? Ans. The global Microfluidics market size reached USD 24.58 billion in 2022 and is expected to reach USD 74.68 billion by 2029, growing at a CAGR of 17.2 % during the forecast period. 5. What are the key regions in the global Microfluidics market? Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. North America dominates the global Microfluidics market during the forecast period.
1. Global Microfluidics Market: Research Methodology 2. Global Microfluidics Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Microfluidics Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Microfluidics Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Microfluidics Market Segmentation 4.1 Global Microfluidics Market, by Product Type (2022-2029) • Microfluidic Chip • Instruments • Cartridges & Reagents • Others 4.2 Global Microfluidics Market, by Application (2022-2029) • Organs-on-chips • Lab-on-a-chip • Point-of-care testing • Continuous Flow Microfluidics • Acoustofluidics and Microfluidics • Optofluidics and Microfluidics • Electrophoresis and Microfluidics 4.3 Global Microfluidics Market, by Material (2022-2029) • Polydimethylsiloxane • Glass based • Others 4.4 Global Microfluidics Market, by End-User (2022-2029) • Pharmaceuticals • In-vitro Diagnostics • Environmental Research • Life Science Research • Clinical Diagnostics 5. North America Microfluidics Market(2022-2029) 5.1 North America Microfluidics Market, by Product Type (2022-2029) • Microfluidic Chip • Instruments • Cartridges & Reagents • Others 5.2 North America Microfluidics Market, by Application (2022-2029) • Organs-on-chips • Lab-on-a-chip • Point-of-care testing • Continuous Flow Microfluidics • Acoustofluidics and Microfluidics • Optofluidics and Microfluidics • Electrophoresis and Microfluidics 5.3 North America Microfluidics Market, by Material (2022-2029) • Polydimethylsiloxane • Glass based • Others 5.4 North America Microfluidics Market, by End-User (2022-2029) • Pharmaceuticals • In-vitro Diagnostics • Environmental Research • Life Science Research • Clinical Diagnostics 5.5 North America Microfluidics Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Microfluidics Market (2022-2029) 6.1. European Microfluidics Market, by Product Type (2022-2029) 6.2. European Microfluidics Market, by Application (2022-2029) 6.3. European Microfluidics Market, by Material (2022-2029) 6.4. European Microfluidics Market, by End-User (2022-2029) 6.5. European Microfluidics Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Microfluidics Market (2022-2029) 7.1. Asia Pacific Microfluidics Market, by Product Type (2022-2029) 7.2. Asia Pacific Microfluidics Market, by Application (2022-2029) 7.3. Asia Pacific Microfluidics Market, by Material (2022-2029) 7.4. Asia Pacific Microfluidics Market, by End-User (2022-2029) 7.5. Asia Pacific Microfluidics Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Microfluidics Market (2022-2029) 8.1 Middle East and Africa Microfluidics Market, by Product Type (2022-2029) 8.2. Middle East and Africa Microfluidics Market, by Application (2022-2029) 8.3. Middle East and Africa Microfluidics Market, by Material (2022-2029) 8.4. Middle East and Africa Microfluidics Market, by End-User (2022-2029) 8.5. Middle East and Africa Microfluidics Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Microfluidics Market (2022-2029) 9.1. South America Microfluidics Market, by Product Type (2022-2029) 9.2. South America Microfluidics Market, by Application (2022-2029) 9.3. South America Microfluidics Market, by Material (2022-2029) 9.4. South America Microfluidics Market, by End-User (2022-2029) 9.5. South America Microfluidics Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 PerkinElmer Inc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Standard BioTools (Previously Fluidigm) 10.3 Blacktrace Holdings Ltd. (Dolomite Microfluidic) 10.4 Micronit 10.5 BioFluidix Gmbh 10.6 Fluigent 10.7 ALine Inc. 10.8 Philips 10.9 Danaher Corporation 10.10 Thermo Fisher Scientific 10.11 Agilent Technologies 10.12 Becton, Dickinson and Company 10.13 Illumina, Inc. 10.14 Abbott Laboratories 10.15 Quidel Corporation 10.16 Abaxis, Inc. 10.17 Covalent Materials, Inc. 10.18 Biosurfit SA 10.19 Micropoint Bioscience, Inc. 10.20 Siloam Biosciences, Inc. 10.21 NanoEnTek Inc. 10.22 OPKO Health, Inc.

About This Report

Report ID 164690
Category Healthcare
Published Date May 2023
Updated Date