Microfluidics Market
PUBLISHED: 2023 ID: SMRC24349
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Microfluidics Market

Microfluidics Market Forecasts to 2030 - Global Analysis By Product (Microfluidics-Based Device, Microfluidics Components and Other Products), Material (Polymer, Metal, Ceramics, Silicon and Glass), Technology, End User and By Geography

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4.8 (37 reviews)
Published: 2023 ID: SMRC24349

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $22.3 BN

Projected Year Value (2030)

US $59.3 BN

CAGR (2023 - 2030)

15%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

North America

Highest Growing Market

Asia Pacific


According to Stratistics MRC, the Global Microfluidics Market is accounted for $22.3 billion in 2023 and is expected to reach $59.3 billion by 2030 growing at a CAGR of 15% during the forecast period. Microfluidics is a technological method used to investigate the nature and characteristics of fluids. Its application involves the manipulation and control of small volumes of fluids' chemical and biological processes through the use of a set of tools. It is also employed in the creation of microminiaturized apparatuses that contain a large number of chambers and tunnels that allow fluids to pass through or be contained. 

According to Globocan 2020, there were 19,282,789 new cancer cases worldwide in 2020, with a projected increase to 28,887,940 cases by 2040.

Market Dynamics: 

Driver: 

Technological advancements

Large-scale microfluidics integration and soft lithography have greatly expanded their applications in medical and biological science research. These technological advancements have accelerated development efforts and allowed researchers to carry out experiments on microfluidics chips with greater complexity and sophistication. Additionally, microfluidics components are quickly becoming an indispensable technology in a growing number of fields, such as chemical synthesis, bio sensing, bio actuation, and medicine. These factors are propelling market demand.

Restraint:

High cost

Widespread adoption of microfluidics devices is severely hampered by the high cost of the development and manufacturing processes. Frequently employed methods include photolithography, soft lithography, and micro-machining, which can be expensive to set up and maintain in terms of equipment. Furthermore, the materials used in microfluidics, like glass or polymers, might be more expensive than conventional materials used in other industries. These factors are hampering the growth of the microfluidics market.

Opportunity:

Demand for point-of-care diagnostics

The microfluidics market is anticipated to exhibit profitable growth potential over the forecast period due to the surge in demand for point-of-care diagnostics. Point-of-care diagnostics offer rapid and quick detection of diseases as compared to other conventional methods. Moreover, better patient monitoring, diagnosis, and treatment results from this and it also facilitate prompt medical decision-making by medical professionals.

Threat:

Time-consuming and complex regulatory process

Manufacturers of medical devices are required to comply with stringent regulatory policies to ensure the safety and efficacy of the devices. The approval process for medical devices has grown increasingly complicated and drawn out. Certain integrated microfluidics medical devices may take a while to receive regulatory approval, and if this is denied, there is a chance that investment will be wasted. These elements are hindering the expansion of the microfluidics market.

Covid-19 Impact

The COVID-19 pandemic had a beneficial effect on the microfluidics market. In-demand diagnostics included COVID-19 testing, rapid diagnostic tests, and IVDs that use microfluidic technology for drug discovery. Several industry participants were focusing on introducing rapid antigen testing based on microfluidics technology to diagnose COVID-19. In an attempt to combat the pandemic, regulatory bodies also promised to support the approval of microfluidics testing. In order to ensure the accuracy and precision of patient sample results, microfluidics kits were predicted to become more in demand as the number of IVD devices, point-of-care testing, and rapid diagnostic tests increased. However, the market is expected to show a steady recovery and relative increase in the future.

The in vitro diagnostics segment is expected to be the largest during the forecast period

The in vitro diagnostics segment is estimated to hold the largest share A growing number of diagnostic, pharmaceutical, and biotechnology companies, as well as forensic applications, are using IVD embedded with microfluidics technologies, such as PCR systems, analyzers, PoC diagnostics, and electrophoretic systems. Multiple advantages are offered by these devices, including portability, increased testing frequency, reduced reagent and sample consumption, and precise and speedy analysis. Moreover, other important factors driving the increased use of microfluidics-based proof-of-concept (PoC) technologies include the availability of inexpensive consumables and the ability of PoC devices to obtain faster test results with compact integrated systems and significantly lower costs.

The microfluidics-based device segment is expected to have the highest CAGR during the forecast period

The microfluidics-based device segment is anticipated to have lucrative growth during the forecast period. The synthesis of nanoparticles and nanocomposites could be greatly enhanced by microfluidics devices because of their effective heat and mass transfers, spatial limitations, ease of parameter adjustment, and in situ process monitoring in micro reactors. Many nanoparticles with tunable sizes, size distributions, and morphologies, including hybrid, inorganic, and organic ones, have been successfully synthesized using microfluidics devices. Moreover, automated micro-robotic injection, drug discovery and analysis, and single-cell trapping are among the biomedical uses of microfluidics devices.

Region with largest share:

North America commanded the largest market share during the extrapolated period owing to the introduction of innovative technologies, the presence of well-established market players, the rise in the number of studies chosen to improve sample optimization, and the substantial demand for POC diagnostics. Furthermore, it is anticipated that research institutes will continue to play a leading role in the development of innovative microfluidics devices, maintaining their dominance in the region for the foreseeable future.

Region with highest CAGR:

Asia Pacific is expected to witness profitable growth over the projection period, owing to the advanced infrastructure for research, the growing economy, and the accessibility of labor. Furthermore, a sizable pool of highly qualified scientists, engineers, and researchers who support the development of microfluidics technologies reside in the Asia Pacific region. These experts are actively engaged in creating cutting-edge microfluidics applications in fields like biotechnology, pharmaceuticals, healthcare, and environmental monitoring. However, prominent players in the region are putting forth creative and intriguing performance- and, more importantly, cost-effective solutions, which may enable them to increase their market share in the years to come.

Key players in the market

Some of the key players in the Microfluidics Market include Thermofisher, Biomerieux, Quidel Corporation, Illumina Inc, Fluidigm Corporation, Abbott Laboratories, Smc Corporation, Perkinelmer, Idex Corporation, Hologic, Parker-Hannifin Corporation, Becton, Dickinson, and Company, Agilent, Bio-RAD, Hoffmann La-Roche, Danaher Corporation, Fortive Corporation, Aignep S.P.A, Dolomite Microfluidics and Elveflow.

Key Developments:

In July 2021, Abbott launched the Panbio COVID-19 Antigen Self-Test in India for the detection of the SARS-CoV-2 virus in adults and children with or without symptoms.

In June 2021, Danaher’s Life science segment acquired Precision Nanosystems (PNI) to complement the former vaccines and therapeutics development business.

In February 2021, Thermo fisher acquired the point-of-care molecular diagnostic company Mesa Biotech, Inc. This is expected to raise Thermo fisher’s revenue by approximately USD 200 million.

Products Covered:
• Microfluidics-Based Device 
• Microfluidics Components
• Other Products

Materials Covered:
• Polymer
• Metal
• Ceramics
• Silicon
• Glass

Technologies Covered:
• Pharmaceutical & Life Science Research and Manufacturing
• In Vitro Diagnostics
• Therapeutics

End Users Covered:
• Academic and Research Institutes 
• Hospitals and Diagnostic Centers 
• Pharmaceutical and Biotechnology Companies 

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
            
2 Preface           
 2.1 Abstract          
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology          
  2.4.1 Data Mining         
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources         
  2.5.2 Secondary Research Sources         
  2.5.3 Assumptions         
            
3 Market Trend Analysis           
 3.1 Introduction          
 3.2 Drivers          
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats          
 3.6 Product Analysis          
 3.7 Technology Analysis          
 3.8 Application Analysis          
 3.9 End User Analysis          
 3.10 Emerging Markets          
 3.11 Impact of Covid-19          
            
4 Porters Five Force Analysis           
 4.1 Bargaining power of suppliers          
 4.2 Bargaining power of buyers          
 4.3 Threat of substitutes          
 4.4 Threat of new entrants          
 4.5 Competitive rivalry          
            
5 Global Microfluidics Market, By Product           
 5.1 Introduction          
 5.2 Microfluidics-Based Device           
 5.3 Microfluidic Components           
  5.3.1 Flow and Pressure Sensors         
  5.3.2 Microfluidic Chip         
  5.3.3 Micropumps         
  5.3.4 Flow and Pressure Controllers         
  5.3.5 Microneedles         
  5.3.6 Microfluidic Valves         
 5.4 Other Products          
            
6 Global Microfluidics Market, By Material            
 6.1 Introduction          
 6.2 Polymer          
  6.2.1 Non-polyvinyl Chloride         
  6.2.2 Polyvinyl Chloride         
 6.3 Metal          
 6.4 Ceramics          
 6.5 Silicon          
 6.6 Glass          
            
7 Global Microfluidics Market, By Technology            
 7.1 Introduction          
 7.2 Non-Medical          
 7.3 Medical          
            
8 Global Microfluidics Market, By Application           
 8.1 Introduction          
 8.2 Pharmaceutical & Life Science Research and Manufacturing           
  8.2.1 Lab Analytics         
   8.2.1.1 Cell-Based Assays        
   8.2.1.2 Proteomic Analysis        
   8.2.1.3 Capillary Electrophoresis        
   8.2.1.4 Genomic Analysis        
  8.2.2 Microdispensing         
  8.2.3 Microreaction         
 8.3 In Vitro Diagnostics           
  8.3.1 Point Of Care Testing         
  8.3.2 Clinical Diagnostics         
  8.3.3 Veterinary Diagnostics         
 8.4 Therapeutics           
  8.4.1 Wearable Devices         
  8.4.2 Drug Delivery         
            
9 Global Microfluidics Market, By End User           
 9.1 Introduction          
 9.2 Academic and Research Institutes          
 9.3 Hospitals and Diagnostic Centers          
 9.4 Pharmaceutical and Biotechnology Companies          
            
10 Global Microfluidics Market, By Geography           
 10.1 Introduction          
 10.2 North America          
  10.2.1 US         
  10.2.2 Canada         
  10.2.3 Mexico         
 10.3 Europe          
  10.3.1 Germany         
  10.3.2 UK         
  10.3.3 Italy         
  10.3.4 France         
  10.3.5 Spain         
  10.3.6 Rest of Europe         
 10.4 Asia Pacific          
  10.4.1 Japan         
  10.4.2 China         
  10.4.3 India         
  10.4.4 Australia         
  10.4.5 New Zealand         
  10.4.6 South Korea         
  10.4.7 Rest of Asia Pacific         
 10.5 South America          
  10.5.1 Argentina         
  10.5.2 Brazil         
  10.5.3 Chile         
  10.5.4 Rest of South America         
 10.6 Middle East & Africa          
  10.6.1 Saudi Arabia         
  10.6.2 UAE         
  10.6.3 Qatar         
  10.6.4 South Africa         
  10.6.5 Rest of Middle East & Africa         
            
11 Key Developments           
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures          
 11.2 Acquisitions & Mergers          
 11.3 New Product Launch           
 11.4 Expansions          
 11.5 Other Key Strategies          
            
12 Company Profiling           
 12.1 Thermofisher          
 12.2 Biomerieux          
 12.3 Quidel Corporation          
 12.4 Illumina Inc          
 12.5 Fluidigm Corporation          
 12.6 Abbott Laboratories          
 12.7 Smc Corporation          
 12.8 Perkinelmer          
 12.9 Idex Corporation          
 12.10 Hologic          
 12.11 Parker-Hannifin Corporation          
 12.12 Becton, Dickinson, and Company          
 12.13 Agilent          
 12.14 Bio-RAD          
 12.15 Hoffmann La-Roche          
 12.16 Danaher Corporation          
 12.17 Fortive Corporation          
 12.18 Aignep S.P.A          
 12.19 Dolomite Microfluidics          
 12.20 Elveflow          
            
List of Tables            
1 Global Microfluidics Market Outlook, By Region (2021-2030) ($MN)           
2 Global Microfluidics Market Outlook, By Product (2021-2030) ($MN)           
3 Global Microfluidics Market Outlook, By Microfluidics-Based Device (2021-2030) ($MN)           
4 Global Microfluidics Market Outlook, By Microfluidic Components  (2021-2030) ($MN)           
5 Global Microfluidics Market Outlook, By Flow and Pressure Sensors (2021-2030) ($MN)           
6 Global Microfluidics Market Outlook, By Microfluidic Chip (2021-2030) ($MN)           
7 Global Microfluidics Market Outlook, By Micropumps (2021-2030) ($MN)           
8 Global Microfluidics Market Outlook, By Flow and Pressure Controllers (2021-2030) ($MN)           
9 Global Microfluidics Market Outlook, By Microneedles (2021-2030) ($MN)           
10 Global Microfluidics Market Outlook, By Microfluidic Valves (2021-2030) ($MN)           
11 Global Microfluidics Market Outlook, By Other Products (2021-2030) ($MN)           
12 Global Microfluidics Market Outlook, By Material  (2021-2030) ($MN)           
13 Global Microfluidics Market Outlook, By Polymer (2021-2030) ($MN)           
14 Global Microfluidics Market Outlook, By Non-polyvinyl Chloride (2021-2030) ($MN)           
15 Global Microfluidics Market Outlook, By Polyvinyl Chloride (2021-2030) ($MN)           
16 Global Microfluidics Market Outlook, By Metal (2021-2030) ($MN)           
17 Global Microfluidics Market Outlook, By Ceramics (2021-2030) ($MN)           
18 Global Microfluidics Market Outlook, By Silicon (2021-2030) ($MN)           
19 Global Microfluidics Market Outlook, By Glass (2021-2030) ($MN)           
20 Global Microfluidics Market Outlook, By Technology  (2021-2030) ($MN)           
21 Global Microfluidics Market Outlook, By Non-Medical (2021-2030) ($MN)           
22 Global Microfluidics Market Outlook, By Medical (2021-2030) ($MN)           
23 Global Microfluidics Market Outlook, By Application (2021-2030) ($MN)           
24 Global Microfluidics Market Outlook, By Pharmaceutical & Life Science Research and Manufacturing (2021-2030) ($MN)           
25 Global Microfluidics Market Outlook, By Lab Analytics (2021-2030) ($MN)           
26 Global Microfluidics Market Outlook, By Microdispensing (2021-2030) ($MN)           
27 Global Microfluidics Market Outlook, By Microreaction (2021-2030) ($MN)           
28 Global Microfluidics Market Outlook, By In Vitro Diagnostics (2021-2030) ($MN)           
29 Global Microfluidics Market Outlook, By Point Of Care Testing (2021-2030) ($MN)           
30 Global Microfluidics Market Outlook, By Clinical Diagnostics (2021-2030) ($MN)           
31 Global Microfluidics Market Outlook, By Veterinary Diagnostics (2021-2030) ($MN)           
32 Global Microfluidics Market Outlook, By Therapeutics (2021-2030) ($MN)           
33 Global Microfluidics Market Outlook, By Wearable Devices (2021-2030) ($MN)           
34 Global Microfluidics Market Outlook, By Drug Delivery (2021-2030) ($MN)           
35 Global Microfluidics Market Outlook, By End User (2021-2030) ($MN)           
36 Global Microfluidics Market Outlook, By Academic and Research Institutes (2021-2030) ($MN)           
37 Global Microfluidics Market Outlook, By Hospitals and Diagnostic Centers (2021-2030) ($MN)           
38 Global Microfluidics Market Outlook, By Pharmaceutical and Biotechnology Companies (2021-2030) ($MN)           
            
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.            

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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