The Global Microfluidics Market size is estimated to be USD 4.25 billion in 2019 and is predicted to reach USD 24.13 billion by 2030 with a CAGR of 17.1% from 2020-2030. Microfluidics is a science studying the behavior of fluids through micro-channels It the technology use for developing microminiaturized devices. These miniature devices contain tunnels and chambers through which fluids flows. The microfluidics systems are process small amount of fluids by using tiny channels. These channels have dimensions ranging from tens to hundreds of micrometers. The systems are designed systems on the basis of technology technique known as photolithography. The technologies are in nascent stage but are rapidly emerging with wide range of applications in chemistry and biology.
Market Dynamics and Trends:
Increasing adoption of the point-of-care (POC) testing, extensive use of microfluidic systems in laboratory procedure and increase in the demand for microfluidic component such as microfluidics chips, pumps, and needles are major factor which are anticipated to drive the growth of the microfluidics market. Moreover, huge demand for fast & accurate testing through microfluidic chip miniaturization and increasing number of firms investing in microfluidics technologies. Factors that are expected to restrain the growth of the market are complex regulatory approval process, long time required for approval of products and lack of awareness about microfluidics technologies in developing nations in emerging regions such as Asia Pacific.
Developing healthcare infrastructure in the U.S. and other countries, increasing awareness about advantages of using microfluidic systems such minimal wastage of reagents and lowered procedure expenses, cost reduction and proper management of costly reagents in laboratories are other key factors that are expected to have a positive impact on the growth of the microfluidics market.
Market Segmentations and Scope of the Study:
Global microfluidics market share is analyzed on the basis of product, technology, application, end user and geography. On the basis of application, the market is segmented into pharmaceutical, in vitro diagnostics, and medical devices. The pharmaceutical segment is further divided into proteomics, genomics, cell based assays and others. The in vitro diagnostics segment is further divided into point-of-care (POC), clinical, environmental and industrial applications. On the basis of material, the market is segmented into polymer, glass, silicon, metal, ceramics and others. On the basis of end user, the market is segmented into hospitals, ambulatory care centers, and home healthcare. The ambulatory care centers segments are expected to hold significant market share during the forecast period and is expected to be driven by increasing the application of microfluidics in ambulatory care centers, especially in the U.S. and European countries such as Germany, UK and France. The regional analysis of the market comprises of North America, Europe, Asia Pacific, and Rest of the World.
Globally, North America is expected to account for largest market share and is expected to continue its growth during the forecast period. In the U.S., increase in the use of microfluidic systems in laboratories and research centers as well as and growing application of microfluidics in pharmaceuticals and forensics.
Comprehensive competitive analysis an*d profiles of major market players such as Illumina, Inc., Fluidigm Corporation, Agilent Technologies; Bio-Rad Laboratories, Inc., Caliper Life Sciences (PerkinElmer, Inc.), F. Hoffmann-La Roche Ltd, Cepheid, Danaher Corporation, Abbott Laboratories, and Life Technologies Corporation (Thermo Fisher Scientific, Inc.) is also provided in this microfluidics market report.
- The study provides an in-depth analysis of the microfluidics market with current and future trends to elucidate the imminent investment pockets in the market
- Current and future microfluidics market trends are outlined to determine the overall attractiveness and to single out profitable trends to gain a stronger foothold.
- The microfluidics market report provides information regarding key drivers, restraints and opportunities with impact analysis.
- Quantitative analysis of the current market and estimations through 2019-2030 are provided to showcase the financial caliber of the market.
- Porters Five Forces model and SWOT analysis of the industry illustrates the potency of the buyers & suppliers participating in the microfluidics market.
- Value chain analysis in the microfluidics market report provides a clear understanding of the roles of stakeholders involved in the value chain.
KEY MARKET SEGMENTS:
- Global Microfluidics Market – By Application
- Cell Based Assay
- In Vitro Diagnostics
- Medical Devices
- Global Microfluidics Market – By Material
- Global Microfluidics Market – By End User
- Ambulatory Care Centers
- Home Healthcare
- Global Microfluidics Market – By Geography
- North America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Latin America
- Middle East
- North America