Global Microfluidics Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing prevalence of chronic diseases, rising microfluidics based technological advancements and growing demand for point-of-care diagnostics (PoC) are major factors anticipated to drive the growth of the Market.
Global Microfluidics Market is valued at USD 25.12 Billion in 2021 and expected to reach USD 73.16 Billion by 2028 with the CAGR of 16.5% over the forecast period.
The study of systems which process small quantities of fluids by using tiny channels having dimensions at the microscale typically tens to hundreds of micrometres is called microfluidics. Microfluidics is quickly emerging as a revolution technology that finds applications in diverse fields ranging from biology and chemistry to information technology and optics. These systems are widely used in procedures like DNA analysis, separation and manipulation of cells flow cytometry, capillary electrophoresis, isoelectric focusing, immunoassays, sample injection in mass spectrometry, PCR amplification, and cell patterning.
The Covid-19 has shown a positive impact on the global microfluidics market. The Amid covid virus erupted in Wuhan, China, in 2019 and later spreads to almost all countries in the world. The suitable fast, accurate and effective plan and ready-to-use diagnostic method was the most needed during crisis situation. The use of microfluidics technology came in the spotlight again now due to its role in rapid testing. For example; a microfluidic device developed by Rice University which gives rapid results in less than an hour and plugs into standard smartphones. Hence the use of the treatment and diagnosis of Covid-19.
The global microfluidics market is segmented on the basis of material, type, application and region & country level. On the basis of material, the market is classified into polymer, glass, silicon, metal and ceramics. Polymer segment is further divided into Polyvinyl Chloride (PVC), non-polyvinyl chloride, On the basis of type, the microfluidics is classified into microfluidic chips, microfluidic sensor and others. On the basis of application, the market is classified into point-of-care testing diagnostics, drug delivery diagnostics, clinical diagnostics and others.
The regions covered in global microfluidics market report are North America, Europe, Asia-Pacific, Latin America and Rest of the World. On the basis of country level, the market of global microfluidics market is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, India, Japan, South East Asia, Middle East Asia (UAE, Egypt, Saudi Arabia) GCC, Africa, etc.
One of the major factors driving the growth of the global microfluidics market is increasing prevalence of chronic diseases. For instance; as per GLOBOCAN 2020 The International Agency for Research on Cancer estimated that globally, one in five people develop cancer during their lifetime and the number of cancers expected to rise to 28,887,940 cases by 2040. Microfluidics used in cancer diagnosis and also serves as an emerging tool for understanding cancer biology. Hence, rising chronic diseases such as cancer driving the market. In addition, rising microfluidics based technological advancements are also supplementing the market growth. For instance; GeneXpert rapid molecular diagnostic machines designed by Cepheid approved the US Food and Drug Administration (FDA) in March 2020 for detection of COVID-19.
Moreover, growing demand for Point-of-care diagnostics (PoC) is also fostering the market growth. Incorporation of microfluidics (MF) with advanced biosensor technologies deliver improved POC diagnostics and POC technology enables decentralized testing for infectious diseases, STDs, and other diseases. However, government regulations regarding the use of microfluidics may hamper the market growth. In spite of that, microfluidics emerging technology for research and development may offer more opportunities for the further growth of the market.
The North America is expected to dominate the microfluidics market due to research and development in microfluidics, presence of major key players and early adoption of latest technologies in this region. One of the major factors driving the growth of the global microfluidics market is research and development in this field. For instance; the launch of the MiQLab system from research-only use to POC use to detect the SARS-CoV-2 virus after receiving emergency use authorization (EUA) in the United States announced by LexaGene in January 2021. In addition, presence of major key companies also boosting the market growth. For instance, Agilent Technologies, Inc. Life Technologies Corporation, Thermo Fisher Scientific, Qiagen, Abbott. Moreover, early adoption of technologies due to highly developed healthcare infrastructure is also fueling the market growth.
Asia-Pacific is anticipated to show significant growth in the global microfluidics market due to the rising government support for developing infrastructure, rising number of research and development activities and growing demand for advanced healthcare services in this region. The rising government support for developing healthcare system is driving growth of global microfluidics market. For instance; as per Union Budget 2022-23, Rs. 86,200.65 crore was allocated to the Ministry of Health and Family Welfare IN India for developing healthcare infrastructure. In addition, research and development like launch of microfluidics-based 3D cell culture systems like organ-on-a-chip has led to spike in demand for microfluidics in the India.
On March 24th, 2022; Easy to use digital microfluidics platform that enables on-demand automation of complex next-generation sequencing (NGS) sample preparation protocols announced by Miroculus, Inc., a developer of revolutionary tools for personal lab automation.
On November 12th, 2021; a new Biomark X microfluidics platform launched by Fluidigm Corporation, a biotechnology tools provider with a vision to improve life through comprehensive health insight. The platform is the latest generation Biomark microfluidics platform. Single platform is created for Biomark HD instruments and Biomark X with integration of the Fluidigm Juno to provide versatile, scalable and transformative genomics platform.
On October 6th, 2021; SCHOTT MINIFAB, a subsidiary of SCHOTT that develops and manufactures microfluidic devices for point-of-care and life sciences consumables, has had a long-standing close customer relationship with Applied Microarrays Inc. (AMI). The expertise of AMI will further strengthen SCHOTT’s ability to offer a single-source contract manufacturing solution. The deal is expected to close in early October. With this partnership, Schott Minifab was suggestively escalating its biosensor printing capabilities. This partnership will open opportunities for the manufacturing of point-of-care microarray consumables, especially in applications such as infectious disease detection.
Microfluidic Chip Simplified Covid-19 Testing, Delivers Results on a Phone in 55 Minutes or Less
On March 2nd, 2021; Microfluidic chip that measures the concentration of SARS-CoV-2 nucleocapsid (N) protein in humor from a customary finger prick was developed by the Rice lab of technologist Peter Lillehoj. The nanobeads fix to SARS-CoV-2 N protein, a biomarker for COVID-19, within the chip and transport it to an electrochemical sensor that notices minute amounts of the biomarker.
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 25.12 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 73.16 Billion|
|Tables, Charts & Figures:||175|
|Microfluidics Companies||Illumina, Inc. Abbott Laboratories, F. Hoffmann-La Roche Ltd, PerkinElmer, Inc., Danaher Corporation, Agilent Technologies, Inc. Thermo Fisher Scientific, Qiagen, Micronit Micro Technologies B.V., Bio-Rad Laboratories, Inc., uFluidix, Fluidigm Corporation, Cellix Ltd., Elveflow, RainDance Technologies Inc., Dolomite Microfluidics, and others.|
|Segments Covered||By Material, By Application|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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