MICROFLUIDICS MARKET: SUMMARY
The Global Microfluidics Market is projected to reach a value of over USD 34.9 billion by 2027 at a CAGR of 13.2%.
Microfluidics is referred to as the technology that deals with manipulation and precise control of the fluids in minute quantities (range 10-6 to 10-12) within the microfluidic channels. This technique implements the split, merge, and mix operations in order to manipulate the chemicals infused fluids used in medical application. It offers advantages such as improved precision and accuracy of experimental results as well as ability to run multiple analysis parallel, when compared to conventional techniques using macro-quantities of fluids. Microfluidics has gained popularity in the diseases diagnostic, drug screening, monitoring and delivery, point of care diagnostics, microbiological research, and many more application across pharmaceutical and healthcare sector.
MICROFLUIDICS MARKET: DRIVERS & CHALLENGES
- Ongoing Trend of Miniaturization and Automation in Healthcare
Globally, increasing prevalence of chronic medical conditions results into higher demand for better access to advanced medical services, which can be easily catered by efficient, accurate, and portable medical devices. Microfluidics are increasingly used in portable, automated, and miniaturized devices resulting into lesser reagent consumption with less human interference, capable of delivering more accurate results in relatively less time. Rising awareness regarding advantages of the miniature medical diagnostics devices for delivering accurate results in lesser timespan, is projected to drive the market growth.
- Increasing Demand for Point-of-Care Testing
The growth of the microfluidics market is expected to grow on the grounds of growing preference towards point-of-care testing (POCT). The point-of-care testing is constantly transforming the healthcare scenario for enhancing the clinical service. Growing incidence of chronic diseases, increasing elderly population, ongoing technological advancement, increasing patient preference towards POCT along with favorable governmental support to reduce the hospital stays is driving the demand for point-of-care testing/diagnostics.
The growth of the microfluidics market is expected to hamper owing to high fabrication cost of microfluidics. Fabrication of the microfluidics is a labor intensive, complex and time consuming, which escalated the overall process cost, leading to difficulties in commercialization of microfluidics.
MICROFLUIDICS MARKET: KEY SEGMENTS
- On the basis of material: Inorganic, Polymers, and Paper
- On the basis of application: Genomics, Diagnostics, Developmental Biology, Microbiology and Cell Biology, Drug Discovery, and Others
- On the basis of end-user: Hospitals and Clinics, Diagnostic Centers, and Research Institutes
- On the basis of region: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
MICROFLUIDICS MARKET: REPORT SCOPE
The report on the microfluidics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million)
Material, Application, and End-user
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa
KEY COMPANIES COVERED
- F. Hoffmann-La Roche Ltd (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Illumina, Inc.
- Agilent Technologies, Inc.
- Blacktrace Group
- Merck KGaA
- Fluidigm Corporation
- RainDance Technologies, Inc.
- OPKO Health, Inc.
- Sphere Fluidics Limited
- Micronit Microtechnologies B.V.
- Other Key Companies
MICROFLUIDICS MARKET: REPORT SEGMENTATION
For the scope of the report, In-depth segmentation is offered by Forencis Research
Microfluidics Market, by Material
Microfluidics Market, by Application
- Developmental biology
- Microbiology and cell biology
- Drug discovery
Microfluidics Market, by End-user
- Hospitals and Clinics
- Diagnostic Centers
- Research Institutes
Microfluidics Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
KEY QUESTIONS ANSWERED BY THE REPORT
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Microfluidics Market Providers
- Microfluidics Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Microfluidics Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE MICROFLUIDICS MARKET STUDY