Microfluidics Market to Reach US$ 106.85 billion by 2030 | Microfluidics Tears Industry Share, Analysis, Growth, and Forecast | Growth Plus Reports

Global microfluidic market include players like Thermo Fisher Scientific Inc., Illumina, Inc., Qiagen N.V., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Micronit Microtechnologies, Cellix, Microfluidic Chipshop, Biomérieux, Fluidigm Corporation, Danaher Corporation, Perkinelmer, Agilent Technologies, Inc., Abbott Laboratories, Danaher Corporation, Nanostring and Nortis Inc.

| Source: Growth Plus Reports Growth Plus Reports

Pune, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Microfluidics Market by Product Type (Microfluidic-based devices, Microfluidic Components), by Material (Polymer, Silicone, Glass, and Others), by Application (Drug Delivery, Point-of-Care Diagnostics, Pharmaceutical and Biotechnology Research, Clinical Diagnostics, and Others) – Global Outlook & Forecast 2022-2030" published by Growth Plus Reports, the microfluidics market is expected to grow at a CAGR of 19.5% from 2021 to reach US$ 106.85 billion by 2030. Owing to increasing demand for point-of-care testing, increasing incidences of chronic diseases, and faster turn-around time for analysis, and improved portability of devices.

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Market Drivers

In the coming years, it is projected that rising point-of-care (POC) device demand will significantly increase market size. Over the course of the analysis period, it is also anticipated that significant demand for low-volume sample analysis, demand for In Vitro Diagnostics (IVD), high-throughput screening methodologies, and development of cutting-edge lab-on-a-chip technologies will further drive the market growth of microfluidics. Microfluidics offers a high return on investment and, by reducing errors, aids in cost management. Moreover, increasing use of microfluidics technology and devices in point-of-care diagnostics, rising technological improvements in diagnostic equipment, and an increase in the prevalence of chronic diseases worldwide are further significant drivers driving the microfluidics market expansion. Therefore, the aforementioned factors increase the demand for molecular diagnosis, which in turn has a beneficial effect on the microfluidics market's expansion.

Excerpts from ‘By Application Segmentation’

Based on application, the global microfluidic market has been segmented into

  • Drug Delivery
  • Point-Of-Care Diagnostics
  • Pharmaceutical and Biotechnology Research
  • Clinical Diagnostics
  • Others

The point-of-care diagnostics dominated the segment during forecast period. Point-of-care diagnostics (POC) is thought to play a crucial role in healthcare, particularly when it comes to disease diagnosis. Point-of-care diagnostics is a good fit for microfluidics technology. For use in the COVID-19 pandemic, this technology has the potential to provide quick and reasonably priced point-of-care diagnostic tools. Since point-of-care diagnostics enable the early detection of the disease, the demand for point-of-care molecular diagnostics is anticipated to rise in the future, which in turn will help healthcare professionals make quicker medical decisions regarding the patient. Point-of-care diagnostics offers rapid and quick disease detection as compared to other conventional methods used close to the patients, which improves diagnosis, monitoring, and management. The devices' main benefits are their portability, cost-effectiveness, and quick and accurate response. Point-of-care diagnostics research is being conducted to create a chip-based instrument that can analyse several analytes in intricate samples. Consequently, it is thought that the incorporation of microfluidics will improve point-of-care diagnostics.

Excerpts from ‘By Region Segmentation’

Based on region, the microfluidic market has been segmented into:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

North America emerged as the region with the largest share of the global microfluidics market during forecast period. It is mostly linked to factors like the developed healthcare system and the increased use of innovative treatments among the general population. The field of microfluidics is rapidly expanding in the area and has a large R&D budget. For instance, since 2000, PhRMA member businesses have invested more than USD 1.1 Trillion in the hunt for novel medicines and cures, including USD 102.3 Billion in 2021 alone, according to the Pharmaceutical Research and Manufacturers of America data updates from September 2021. Additionally, over the course of the prediction, these are anticipated to rise even further. One of the main destinations for all the most current developments is the United States. In order to create integrated microfluidic devices that are quick and simple to use, point-of-care diagnostics leverages microfluidic technology for a variety of applications, including molecular diagnostics, infectious diseases, and chronic diseases.

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Excerpts from ‘Competitive Landscape’

Some of the prominent market players in the global microfluidic market include:

  • Thermo Fisher Scientific Inc.
  • Illumina, Inc.
  • Qiagen N.V.
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories, Inc.
  • Micronit Microtechnologies
  • Cellix
  • Microfluidic Chipshop
  • Biomérieux
  • Fluidigm Corporation
  • Danaher Corporation
  • Perkinelmer
  • Agilent Technologies, Inc.
  • Abbott Laboratories
  • Danaher Corporation
  • Nanostring
  • Nortis Inc

Few major players now control the majority of the market in terms of market share. However, due to product breakthroughs and technical advancements, mid-sized and smaller businesses are expanding their market position by launching new technologies at competitive costs. In order to maintain their positions in the global market, the top companies have also engaged in a number of strategic alliances, including acquisitions, joint ventures, and the introduction of cutting-edge products.

Table of Content

  1. INTRODUCTION
    1. Market Ecosystem 
    2. Timeline Under Consideration
      1. Historical Years - 2020
      2. Base Years - 2021
      3. Forecasted Years – 2022 to 2030 
    3. Currency Used in the Report
  2. RESEARCH METHODOLOGY 
    1. Research Approach
    2. Data Collection Methodology
    3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
    4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
    5. Market Forecasting Model
    6. Limitations and Assumptions       
  3. PREMIUM INSIGHTS
    1. Current Market Trend (COVID-19 Perspective)
    2. Key Players & Competitive Positioning (2021) 
  4. MARKET DYNAMICS
    1. Drivers
    2. Restraints/Challenges
    3. Opportunities
  5. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE
    1. Microfluidic-based devices
    2. Microfluidic Components
  6. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY MATERIAL
    1. Polymer
    2. Silicone
    3. Glass
    4. Others
  7. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY APPLICATION
    1. Drug Delivery
    2. Point-of-Care Diagnostics
    3. Pharmaceutical and Biotechnology Research
    4. Clinical Diagnostics
    5.  Others

TOC Continued…

VALUE PROPOSITIONS RELATED TO THE REPORT:

  • Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
  • Comprehensive quantitative and qualitative insights at segment and sub-segment level
  • Covid 19 impact trends and perspective
  • Granular insights at global/regional/country level
  • Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
  • Blanket coverage on competitive landscape
  • Winning imperatives
  • Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

  • Distributor Landscape Assessment
  • Pricing Intelligence
  • Customer Base Assessment
  • Investment & Initiatives Analysis
  • 'Business Profile' of Key Players

Directly Purchase Premium Copy of Microfluidics Market Growth Report (2022-2030) at: https://growthplusreports.com/checkout?_token=Ure3cTtP9jLAWSnTq5pTArsAmYgPehYxHCQlgjUU&report_id=7937&license=Single

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