Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Global Microfluidics Market size is valued at US$ 23.6 billion in 2023 and is predicted to rise at a substantial CAGR of 23.2% during the forecast period of 2023 and 2030 according to RationalStat analysis.
Market Definition, Market Scope, and Report Overview
The microfluidics market is driven by several factors that contribute to its growth and development. Microfluidics technology enables the manipulation and control of tiny volumes of fluids at the microscale level. The ability to miniaturize and automate laboratory processes offers numerous advantages, such as reduced sample and reagent consumption, faster analysis times, and increased experimental throughput. These benefits drive the adoption of microfluidics across various industries, including pharmaceuticals, biotechnology, and diagnostics.
Further, the demand for point-of-care testing, which allows medical diagnostics to be performed at or near the patient’s location, is increasing. Microfluidic devices play a crucial role in POCT applications due to their compactness, portability, and ability to perform multiple tests simultaneously. The growing need for rapid and accurate diagnostic results is driving the demand for microfluidic-based POCT devices.
- According to a deep-dive market assessment by RationalStat, the microfluidics market has been analyzed on the basis of market segments, including type, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the microfluidics market covers market sizes based on market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the microfluidics market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Microfluidics Market: Segmental and Market Share Analysis
- Based on the Type, the Medical/Healthcare is expected to dominate the market due to emergence of microfluids based on 3D cell culture, coupled with expanding application in drug delivery.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 23.6 billion |
| Market Size Forecast | US$ 101.5 billion |
| Growth Rate | 23.2% |
| Dominant Segment | Medical/Healthcare |
| Leading Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players adopt various strategies to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, and partnerships and collaborations are some of the strategies followed by industry players, some of the key developments in the microfluidics market include,
- In 2021, Fluidigm launched its new Biomark X microfluidics platform. Biomark X streamlines operations to reduce hands-on time and speed up results with more data per run.
- In 2021, SCHOTT agreed to buy Applied Microarrays Inc., a microarray solutions company based in Arizona. This will strengthen the company's presence in the United States as well as its bioscience capabilities.
Some of the prominent players and suppliers operating and contributing significantly to the microfluidics market growth include Illumina, Inc., Hoffmann-La Roche Ltd, PerkinElmer, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Abbott, Thermo Fisher Scientific, and Standard BioTools, among others.
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RationalStat has segmented the microfluidics market based on type, application, and region
- Global Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Medical/Healthcare
- Non-Medical
- Global Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Lab-on-a-Chip
- Organs-on-Chips
- Continuous Flow Microfluidics
- Optofluidics and Microfluidics
- Acoustofluidics and Microfluidics
- Others
- Global Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Microfluidics MarketValue (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Microfluidics Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Microfluidics MarketValue (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Microfluidics Report:
- What will be the market value of the microfluidics market by 2030?
- What is the market size of the microfluidics market?
- What are the market drivers of the microfluidics market?
- What are the key trends in the microfluidics market?
- Which is the leading region in the microfluidics market?
- What are the major companies operating in the microfluidics market?
- What are the market shares by key segments in the microfluidics market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoints to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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