WASHINGTON, March 22, 2023 (GLOBE NEWSWIRE) -- Global Microfluidics Market is valued at USD 18.62 Billion in 2021 and is projected to reach a value of USD 45.15 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 15.90% over the forecast period 2022-2028.
The growth of the microfluidics market is driven by the increasing use of microfluidic devices in a wide range of applications, such as in-vitro diagnostics, drug discovery, and point-of-care testing.
Microfluidics is the study of fluid behavior at a very small scale, typically dimensions of 1 micrometer (μm) or less. Microfluidics is a rapidly growing field with applications in a wide range of areas, including chemistry, biology, medicine, and engineering.
Microfluidics devices are typically made of materials such as glass, silicon, or polymer. They are often fabricated using microfabrication techniques, such as photolithography or etching.
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Market Dynamics
- The increasing adoption of microfluidics in in-vitro diagnostics (IVD) is one of the key drivers of the microfluidics market. IVD is a rapidly growing field, and microfluidics is being increasingly used in IVD applications, such as PCR, ELISA, and flow cytometry.
- The increasing demand for microfluidics in drug discovery is another key driver of the microfluidics market. Drug discovery is a complex and expensive process, and microfluidics is being increasingly used in drug discovery applications, such as screening for potential drug candidates and high-throughput screening.
- The increasing demand for microfluidics in point-of-care testing is another key driver of the microfluidics market. Point-of-care testing is a rapidly growing field, and microfluidics is being increasingly used in point-of-care testing applications, such as blood glucose monitoring and urine analysis.
- The increasing use of microfluidics in research and academia is another key driver of the microfluidics market. Microfluidics is a powerful tool for research and academia, and it is being increasingly used in a wide range of research and academic applications, such as cell biology, chemistry, and physics.
The market dynamics for microfluidics are expected to remain positive in the coming years. The increasing adoption of microfluidics in IVD, drug discovery, point-of-care testing, and research and academia is expected to drive the growth of the microfluidics market.
Microfluidics Market Challenges
- The high cost of microfluidics devices
- The lack of skilled professionals in the microfluidics industry
- The lack of awareness about microfluidics technology
Microfluidics Market Opportunities
- The growing demand for microfluidics devices from the developing countries
- The increasing use of microfluidics in personalized medicine
- The increasing use of microfluidics in environmental monitoring
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Top Players in the Global Microfluidics Market
- Abbott Laboratories (US).
- Agilent Technologies Inc. (US)
- Aignep S.P.A. (Italy)
- Becton
- Bio-Rad Laboratories Inc. (US)
- Camozzi Automation SPA Societá Unipersonale (Italy)
- Cellix Limited (Ireland)
- Danaher Corporation (US)
- Dickinson and Company (US)
- Dolomite microfluidics (UK)
- Elveflow (France)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Fluidigm Corporation (US)
- Fluigent SA (France)
- Fortive Corporation (US)
- IDEXX Corporation (US)
- Illumina Inc. (US)
- Parker Hannifin Corporation (US)
- Perkinelmer Inc. (US)
- SMC Corporation (Japan)
- Thermo Fisher Scientific Inc. (US)
The Key Strategies Adopted by the Players in the Microfluidics Market are:
- Product launches
- Partnerships and collaborations
- Expansions
Top Report Findings
- The global microfluidics market is expected to reach USD 45.15 Billion by 2028, registering a CAGR of 15.90% during the forecast period.
- The increasing adoption of microfluidics in IVD is one of the key drivers of the microfluidics market. IVD is a rapidly growing field, and microfluidics is being increasingly used in IVD applications, such as PCR, ELISA, and flow cytometry.
- The increasing demand for microfluidics in drug discovery is another key driver of the microfluidics market. Drug discovery is a complex and expensive process, and microfluidics is being increasingly used in drug discovery applications, such as screening for potential drug candidates and high-throughput screening.
- The increasing demand for microfluidics in point-of-care testing is another key driver of the microfluidics market. Point-of-care testing is a rapidly growing field, and microfluidics is being increasingly used in point-of-care testing applications, such as blood glucose monitoring and urine analysis.
- The increasing use of microfluidics in research and academia is another key driver of the microfluidics market. Microfluidics is a powerful tool for research and academia, and it is being increasingly used in a wide range of research and academic applications, such as cell biology, chemistry, and physics.
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Top Trends in Global Microfluidics Market
- The increasing demand for point-of-care testing (POC) devices is one of the major trends in the microfluidics market. POC devices are used to perform medical tests at or near the site of care, rather than in a laboratory. This trend is being driven by the increasing need for rapid and accurate diagnostic tests in a variety of settings, such as hospitals, clinics, and homes.
- The increasing use of microfluidics in in-vitro diagnostics (IVD) is another major trend in the microfluidics market. IVD is a rapidly growing field, and microfluidics is being increasingly used in IVD applications, such as PCR, ELISA, and flow cytometry.
- The increasing use of microfluidics in drug discovery is another major trend in the microfluidics market. Drug discovery is a complex and expensive process, and microfluidics is being increasingly used in drug discovery applications, such as screening for potential drug candidates and high-throughput screening.
- The increasing use of microfluidics in research and academia is another major trend in the microfluidics market. Microfluidics is a powerful tool for research and academia, and it is being increasingly used in a wide range of research and academic applications, such as cell biology, chemistry, and physics.
- The increasing use of microfluidics in the food and beverage industry is another major trend in the microfluidics market. The food and beverage industry is using microfluidics for a variety of applications, such as food processing, quality control, and product development.
Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Microfluidics Market Forecast Report (2022-2028).
Microfluidics Market Segmentation
By Technology
- PCR & RT-PCR
- Microarrays
- Non-Medical Technologies
- Gel Electrophoresis
- ELISA
By Application
- Organs-on-chips
- Electrophoresis and Microfluidics
- Optofluidics and Microfluidics
- Continuous Flow Microfluidics
- Acoustofluidics and Microfluidics
- Lab-on-a-chip
By End User
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Hospitals & Diagnostic Centers
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 18.62 Billion |
| Revenue Forecast by 2028 | USD 45.15 Billion |
| CAGR | 15.90% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Parker Hannifin Corporation, SMC Corporation, IDEXX Corporation, Fluigent SA, Aignep S.P.A., Camozzi Automation SPA Societá Unipersonale, Dolomite microfluidics, Elveflow, Cellix Limited, Fortive Corporation, Danaher Corporation, Thermo Fisher Scientific Inc., Perkinelmer Inc., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Becton, Dickinson and Company, Illumina Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, Abbott Laboratories |
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Asia Pacific Account for the Highest Market Share
- The increasing government support for microfluidics research and development: The governments of many countries in the Asia Pacific region are providing financial support for microfluidics research and development. This is helping to increase the adoption of microfluidics in research and academia.
- The growing number of microfluidics companies in the region: The number of microfluidics companies in the Asia Pacific region is growing rapidly. This is leading to an increase in the availability of microfluidics products and services in the region.
- The rising demand for microfluidics devices from the healthcare and life sciences industries: The demand for microfluidics devices from the healthcare and life sciences industries is increasing rapidly in the Asia Pacific region. This is driving the growth of the microfluidics market in the region.
The Key Questions Answered in the Microfluidics Market Report are:
- What are the key drivers of the microfluidics market?
- What are the key challenges facing the microfluidics market?
- What are the key opportunities in the microfluidics market?
- What are the key players in the microfluidics market?
- What are the key strategies adopted by the players in the microfluidics market?
- What is the future outlook of the microfluidics market?
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