New York, March 11, 2021 (GLOBE NEWSWIRE) -- Market Size – USD 15.09 billion in 2020 Market Growth – 11.8% Market Trends – increasing demand for lab-on-a-chip technology
The global microfluidics market size is expected to reach USD 35.23 billion in 2028 at a CAGR of 11.8% according to a new report by Reports and Data. The study of antibiotic drug-resistant bacteria, nanoparticle transport in blood, and chemical reaction kinetics are just a few of the research applications of microfluidics. As such research gain increasing importance, the microfluidics market is expected to register increased revenue growth. Cancer and pathogen detection are two diagnostic applications of microfluidics that hold enormous economic and technological potential for the microfluidics market growth. Molecular diffusion coefficients, fluid viscosity, pH, and chemical binding coefficients are all calculated using microfluidic instruments. Microfluidic systems are used in the pharmaceutical industry for a range of analytical purposes in biopharmaceutical production, such as tracking and optimizing protein drug production and assays involving human cells.
One of the restrains for the microfluids market might be the expensive R&D process that is required to develop microfluidic devices and make them commercially viable. But work is underway to make this possible.
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Due to sophisticated research infrastructure, cheap labour, and adoption of microfluidic platforms, Asia Pacific is expected to be the fastest-growing region. Foreign investors have shown interest in this underserved sector.
Key Highlights from the Report
- Fluidigm, one of the microfluidics market leaders announced in February 2021, that their fourth quarter revenues increased 38% year over year as COVID-19 testing demand drove sales. Reportedly the microfluidics-related revenues of the company increased 98% in Q4 to USD 21 million.
- Fluigent, a microfluidics systems manufacturer, developed the MFCSTM series of microfluidic systems based on its proprietary FASTAB technology, which features pressure-controlled flow control that enables a pulseless flow and greater responsiveness, in order to address fluid volume manipulation issues in current microfluidic control systems.
- Microfluidics has become increasingly important in PCR in recent years because it allows the entire biological process to be incorporated, resulting in multiplexed, high-throughput, and highly parallel assays. The medical technology segment therefore dominated the market based on revenue.
- Microfluidic PCR devices registered a massive surge in demand due to the coronavirus pandemic. Everyday millions of tests were requested to detect the virus as well as to isolate the effected people from healthy individuals. This caused an unprecedented revenue growth for the microfluidics market in 2020.
Microfluidics Market Size, Share & Trends Analysis Report By Application (Lab-on-a-Chip, Organs-on-Chips, Continuous Flow), By Technology (Medical, Non-Medical), By Material, And Segment Forecasts To 2028; To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/microfluidics-market
- The lab-on-a-chip segment accounted for a major share in the microfluidics market in 2020 and is expected to maintain its dominance throughout the forecast period.
- The PDMS based microfluidic chips segment held the maximum revenue share in 2020 and is expected to register the fastest CAGR during the forecast period.
- North America microfluidics market held the largest revenue share due to the presence of well-established market leaders, financial support and resource availability for research into microfluidics, presence of advanced technologies, and strong demand for POC diagnostics.
- Some of the key industry contributors are Illumina, Inc.; F. Hoffmann-La Roche Ltd; PerkinElmer, Inc.; Agilent Technologies, Inc.; Bio-Rad Laboratories, Inc.; Danaher Corporation; Life Technologies Corporation; Abbott Laboratories Thermo Fisher Scientific; Qiagen; Biomérieux; Elveflow; Cellix Ltd.; Micronit Micro Technologies B.V.; and Fluidigm Corporation.
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Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. For this study, Reports and Data has segmented the global microfluidics market report based on technology, application, material, and region:
- Technology Outlook (Revenue, USD Million, 2018 - 2028)
- Medical/Healthcare
- PCR & RT-PCR
- Gel Electrophoresis
- Microarrays
- ELISA
- Others
- Non-Medical
- Medical/Healthcare
- Application Outlook (Revenue, USD Million, 2018 - 2028)
- Lab-on-a-chip
- Medical
- Non-Medical
- Organs-on-chips
- Medical
- Non-Medical
- Continuous flow microfluidics
- Medical
- Non-Medical
- Optofluidics and microfluidics
- Medical
- Non-Medical
- Acoustofluidics and microfluidics
- Medical
- Non-Medical
- Electrophoresis and microfluidics
- Medical
- Non-Medical
- Lab-on-a-chip
- Material Outlook (Revenue, USD Million, 2018 - 2028)
- Silicon
- Glass
- Polymer
- PDMS
- Others
- Regional Outlook (Revenue, USD Million, 2018 - 2028)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Asia Pacific
- India
- China
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- North America
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