Global Microfluidics Market Report 2021: Rapid Testing and Improved Portability through Microfluidic Chip Miniaturization

Dublin, Nov. 29, 2021 (GLOBE NEWSWIRE) -- The "Global Microfluidics Market Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global microfluidics market is projected to reach USD 58.8 billion by 2026 from USD 20.7 billion in 2021, growing at a CAGR of 23.2% during the forecast period.

Microfluidic technologies offer quick analysis, reduced reagent consumption, and accurate test results and help in reducing the overall cost of the drug development process. In addition to these factors, the demand for microfluidics technology is increasing owing to the growing demand and adoption of PoC diagnostic devices, such as glucose monitoring and pregnancy test kits.

Based on type of product, the microfluidic chips segment holds the highest rate during the forecast period

The microfluidic components market, by type, is segmented into microfluidic chips, flow and pressure sensors, flow and pressure controllers, micropumps, microfluidic valves, microneedles, and other microfluidic components. The microfluidic chips segment accounted for the highest rate of the microfluidic components market in 2020.

The increasing demand for PoC testing, growing preference for personalized medicine, an increasing number of drug discovery and life science research activities, growing need for high-speed diagnostics, and increasing government funding are factors responsible for the growth of this segment in the microfluidic market.

Based on application, the in vitro diagnostics segment holds the highest share during the forecast period

In this report, the microfluidics market is broadly classified into three major application segments - in vitro diagnostics, pharmaceutical & life science research and manufacturing, and therapeutics. The in vitro diagnostics segment accounted for the largest share of 60.0% of the microfluidics market in 2020.

The large share of this segment is mainly attributed to the rising incidence of target diseases and the growing demand for PoC testing. The advantages of microfluidic devices over traditional devices (such as portability, compact size, increased frequency of testing, and accurate & quick analysis) have also driven the adoption of these devices in IVD applications.

Research Coverage:

The report analyzes the microfluidics market and aims at estimating the market size and future growth potential of this market based on various segments such as product type, application, end user and region. The report also includes a product portfolio matrix of various microfluidic products available in the market. The report also provides a competitive analysis of the key players in this market, along with their company profiles, product offerings, and key market strategies.

Premium Insights

• Rising Demand for Point-Of-Care Testing Is A Key Factor Driving the Global Microfluidics Market

• China Accounted for the Largest Share of the Asia Pacific Microfluidics Market In 2020

• China To Register the Highest Growth Rate In the Microfluidics Market During the forecast Period

• North America To Dominate the Global Microfluidics Market During the forecast Period

• High Growth Opportunities In Both Developing and Developed Markets During the forecast Period

Market Drivers

• Rising demand for point-of-care testing

• Rising technological advancements

• Increasing focus on data precision and accuracy

• Highly economical

• Rapid testing and improved portability through microfluidic chip miniaturization

Market Restraints

• Complex and time-consuming regulatory approval process

• Incorporation of microfluidics into existing workflows

Market Opportunities

• Emergence of microfluidic-based 3D cell culture systems

• Asia? a key growth market

• Expanding applications of drug delivery technologies using microfluidics

• Growing applications of microfluidics in the life sciences & pharmaceutical industries

Market Challenges

• Standardization/commercialization of microfluidic devices

Industry Trends

• Shifting Trend Towards E-Health Diagnostics With the Integration of Microfluidics-Based POC Devices, Epidermal Electronics, and IoT

• Adoption of 3D Printing In Microfluidics

• Shifting Trend Towards the Adoption of Polymers

• Universities Actively Investing In Microfluidic Start-Ups

Companies Mentioned

• Abbott Laboratories

• Agilent Technologies, Inc.

• Aignep S.P.A.

• Becton, Dickinson and Company

• Bio-Rad Laboratories, Inc.

• Camozzi Automation Spa SOCIETA Unipersonale

• Cellix Ltd.

• Danaher Corporation

• Dolomite Microfluidics

• Elveflow

• Epigem Inc.

• F. Hoffmann-La Roche Ltd.

• Fluidic Analytics

• Fluidigm Corporation

• Fluigent Sa

• Fortive Corporation

• Idex Corporation

• Illumina Inc.

• Innovative Biochips, Llc

• Nanostring

• Nortis Inc.

• Parker-Hannifin Corporation

• Perkinelmer, Inc.

• SMC Corporation

• Thermo Fisher Scientific Inc.

For more information about this report visit https://www.researchandmarkets.com/r/bmfdyl

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