Microfluidics Market Revenue, Growth, Restraints, Trends, Company Profiles, Analysis & Forecast Till 2030

Rapid technological advancements in the field of microfluidics and Point-of-Care testing and IVD is a key factor driving microfluidics market revenue growth

The globalmicrofluidics marketsize 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. Rapid technological advancements in the field of microfluidics such as Point-of-Care Testing (PoCT) and In-Vitro Diagnostics (IVD), significant investments in research development activities, rising demand for microfluidic platforms for early disease detection and pathogen identification, as well as increasing applications of microfluidic platforms in various healthcare industries are factors driving market revenue growth.

The report is refurbished with the impact of the COVID-19 pandemic on the global Microfluidics market. The pandemic and subsequent social restrictions have dynamically changed the market and impacted the economic scenario of the market through disruptions in the supply chains, financial difficulties, and changes in the demands and trends of the industry. Moreover, a shift in consumer behavior has also affected the Microfluidics industry. The report provides an in-depth impact analysis of the pandemic on the market to better understand the latest changes in the market and gain a futuristic outlook on a post-COVID-19 scenario.

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Microfluidics MarketCompetitive Scenario

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).

MicrofluidicsMarket Segmentation:

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

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Key Highlights of theMicrofluidics Market

The polymer segment accounted for a significantly robust revenue share in 2021. Increasing demand from the packaging industry due to low cost and well-maintainedfabrication techniques, for which polymers are favored is a key factor driving revenue growth of this segment.Poly(dimethylsiloxane) (PDMS) is a preferred choice from among these materials and has been widely used in microfluidics for fast and quick prototyping reasons, as it is easy to make andadheres tightly to glass and PDMS substrates with greater and improved optical transparency and elastomeric characteristics. Two perfluorinated polymers are utilizedto construct microfluidic devices and structures, perfluoroalkoxy (Teflon PFA) and fluorinated ethylenepropylene (Teflon FEP), as these maintain their elastomeric and inertness, which makes them suitable for microfluidic platforms.

The microfluidic chip segment accounted for a significantly large revenue share in 2021. Microfluidic chips ae based on miniaturization technology to enable entire biochemical processes including reagent loading, reaction, separation, and detection, to be performed on a microchip. Densely interconnected microfluidic chips are small, portable, and only require a few consumables for early disease detection. Microfluidic technologies such as LOC technology, Three-Dimensional (3D) cell culture, organs-on-a-chip, and droplet techniques have advanced rapidly into various fields. Microfluidic chips, in combination with various detection techniques, are ideal for high-throughput drug testing, detection, and mechanistic research. These chips can be utilizedin nanoparticle synthesis, drug encapsulation, delivery, targeting, cell analysis, andcell culture, either alone or in combination with other devices.

Asia Pacific market accounted for a moderate revenue share in 2021. Rising demand from biomedical and pharmaceutical sectors and in point-of-care testing, increased prevalence of chronic diseases, and increasing investments in RD activities, particularly in Singapore, are key factors driving market revenue growth. For instance, a team of researchers from the University of Bristol has developed a novel low-cost and open-source 3D printing process for producing microfluidic devices. The process named Elsewhere, Developed by the Singapore University of Technology and Design, enables 3D printing of microfluidic devices integrated with fluid handling and functional components. Among the countries in Asia Pacific, China, Japan, and India account for majority revenue share contribution to the market in the region and the trend is expected to continue over the forecast period.

Regional Segmentation

North America(U.S., Canada)

Europe(U.K., Italy, Germany, France, Rest of EU)

Asia Pacific(India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America(Chile, Brazil, Argentina, Rest of Latin America)

Middle East Africa(Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report provides a qualitative and quantitative analysis of the Global Microfluidics market, including the global and regional analysis of the market. The study covers critical information and factual data about the Microfluidics market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Microfluidics market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Microfluidics market industry.

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