Liquids can flow through a number of tiny channels or mediums, such nozzles, pumps, or chips, thanks to the science of Microfluidics Market. These technologies can be used to create products that can direct and regulate fluids at scales as small as tens to hundreds of micrometres.
Microfluidics enables the simultaneous execution of many experiments. Throughput can be increased in places where good spatiotemporal control is possible. Thus, less expensive and valuable chemicals, fluids, and biological tests are employed, resulting in lower costs. Microfluidics-based technologies are used in a wide range of applications, such as clinical diagnostics, analytical testing, point-of-care testing, and medication delivery. In analytical testing for genomics, proteomics, and cell-based studies, microfluidics-based instruments and chips are employed.
Microfluidics systems provide benefits including straightforward automation, less sample and reagent usage overall, and quicker analysis times. For a range of testing, such as chemical and biological research, this makes it a desirable option. The system also permits parallel assay execution, which reduces assay expenses and execution time.
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Through 2032, the microfluidics market is anticipated to grow at a CAGR of 11.1%. By 2031, the market is projected to reach a value of US$ 17.8 billion, according to Future Market Insights. In 2022, the market was estimated to be worth US$ 6.8 billion.
Microfluidic technology has recently advanced 3D cell culture, allowing for the creation of microenvironments that encourage tissue differentiation and can even mimic the interface between two tissues. Spatiotemporal chemical gradients and the mechanical microenvironment of living organs can both benefit from it. The need for microfluidic lab-on-chip technology is rising in the healthcare and pharmaceutical industries as well as in applications for counterterrorism, the environment, food safety, and the military. Additionally, miniaturised biosensors’ speed, portability, accessibility, and affordability as well as the growing consumer, environmental, and security sectors have significant commercial potential.
The development of novel microfluidic platforms for drug discovery, portable diagnostics, and other applications drives the microfluidics market. Players with a substantial product portfolio, patented technology used in clinical research and in-vitro diagnostics applications, and nearby GMP-certified manufacturing facilities dominate the collaboration area.
In order to overcome difficulties associated with the fabrication included into the microfluidics devices, many companies are substituting the mixers in these devices with the bubbles at large. This can be the opportunity to improve the efficiency of the microfluidics devices creating a huge opportunity in the market.
Key Takeaways from Microfluidics Study:
- The ceramics segment is anticipated to hold the maximum share of 39.9% in 2022, expanding at 13.0% CAGR during the forecast period. Ceramics’ superior chemical resistivity, flexibility, and strength make them ideal for producing microfluidics devices, as seen by their significant market share.
- The point of care testing segment is projected to account for 32.6% of the total market share in 2022 by application. In the fields of genomics and proteomics, point-of-care testing devices offer a lot of potential. These devices, for example, aid in the identification of the DNA of bacteria that cause various diseases and are also employed in protein analysis.
- In-vitro diagnostics and life science research together hold over 53% of the market in 2022 and this trend is expected to continue during the forecast period as well. The growing number of experiment carried out in life science research using microfluidics is rising. This is propelling the sector forward. Aside from that, with increasing diseases, is increasing the in-vitro diagnostics demand.
- North America is expected to account for about 25.4% of the global microfluidics market. The high frequency and growth in incidence of various diseases, and government funding for the research and clinical testing by various institutions in the North America will assist market expansion.
Who is winning?
The key market players covered by FMI include Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, Bio-Rad Laboratories, Inc., Qiagen NV, SCHOTT AG and thinXXS Microtechnology.
Some of the leading manufacturers of the microfluidics market are focusing on the development of advanced and cost-effective products and undertaking acquisitions to increase global presence.
- In October 2021, Thermo Fisher Scientific Charts Digital PCR expansion after Combinati acquisition.
- In November 2019, MicroMedicine, Inc., launched the Sorterra Cell Isolation System, an automated, microfluidics-based cell isolation technology at the Society for Immunotherapy of Cancer (SITC) Meeting.
Want more insights?
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global microfluidics market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on microfluidics market segment based on material (polymer {polyvinyl chloride (PVC) non-polyvinyl chloride}, glass, silicon, metal and ceramics), application (point of care testing, clinical diagnostics, drug delivery and analytical testing {genomics, proteomics, cell based analysis and others}), and industry (pharmaceuticals, in-vitro diagnostics, environmental research, life science research, clinical diagnostics) across seven major regions.
Microfluidics Market by Category
By Material:
- Polymer
- Polyvinyl Chloride (PVC)
- Non-polyvinyl Chloride
- Glass
- Silicon
- Metal
- Ceramics
By Application:
- Point of care testing
- Clinical Diagnostics
- Drug Delivery
- Analytical Testing
- Genomics
- Proteomics
- Cell based Analysis
- Others
By Industry:
- Pharmaceuticals
- In-vitro Diagnostics
- Environmental Research
- Life Science Research
- Clinical Diagnostics
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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