Precedence Research’s latest report on the global microfluidics market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global microfluidics market size was valued at US$ 13.8 Billion in 2019 and is projected to reach US$ 32.97 Billion by 2027, rising at a market growth (CAGR) of 11.5% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for microfluidics market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Microfluidics refers to the science of controlling and manipulating fluids, commonly in the range of microliters (10-6) to picoliters (10-12), in networks of channels having dimensions ranging from tens to hundreds of micrometers. This discipline was originated in the early 1990’s and since then has been growing exponentially. It is analyzed as an essential tool for the life science research or in other significant researches in the field of biotechnologies. Because of the low volumes required, microfluidic technologies emerged as a promising alternative over the conventional laboratory techniques.
Microfluidics is mostly used and described in “organ on a chip” and “lab on a chip” technologies. However, it can be applied in a wide range of applications that includes pharmaceuticals (drug discovery), cosmetics (emulsions & formulations), chemistry (flow synthesis & stoichiometry), health (personalized medicine & diagnosis), energy (EOR models plasma confinement), and biology (cell culture and 3D printing).
Rising demand for Point of Care (POC) testing in a wide range of applications because of the benefits associated with the incorporation of microfluidics along with high return on investments anticipated to propel the market growth of microfluidics during the analysis period. In addition, high-throughput screening methodologies, low-volume sample analysis, and increased demand for in vitro diagnostics (IVD) expected to offer numerous growth opportunities for the players operating in the microfluidics market during the forthcoming years. On the contrary, lack of market visibility for the microfluidics products coupled with high prices of the microfluidics sensors and integrated systems is the key factor that restrict the market growth.
Microfluidics has been successfully applied for the manufacturing of a diverse range of commercial products. For example, integrated fluidic circuits designed by the Fluidigm Corporation offers sample throughput that is comparatively high and provides cost-effective solutions for multiplex single-nucleotide polymorphism genotyping. Likewise, another manufacturer named Quanta Life that provides droplet-based microfluidic solutions for carrying out digital PCR for quantification of nucleic acids.
Caliper Life Sciences offers LabChip systems that use a glass microfluidic chip to receive a high-throughput fluorescent and electrophoretic analysis of protein fragments and nucleic acid. Further, technological advancement is the key factor that drives the market growth. For instance, organ-on-chips are the microfluidic devices that are used for culturing living cells in constantly perfused and micrometer-sized chambers to model physiological functions of tissues and organs.
North America holds the largest value share in the global market for microfluidics. The growth of the region is mainly attributed to better reimbursement policies, well-established healthcare system, and the higher adoption of novel therapeutics among the common population.
Microfluidics is an enormously growing medical segment particularly in the United States in terms of investment on the Research & Development (R&D) for advancement in the microfluidic devices that further impel the growth of the market value. Further, the field of Point-of-Care (POC) diagnostics largely uses microfluidic technology for wide range of applications such as infectious diseases, molecular diagnostics, resource-limited settings, and chronic diseases. Recent advancements from researchers in the microfluidics aim to produce integrated devices that are automated, self-contained, rapid, and easy-to-use. As the United States has been a front-runner in technological advancements, the microfluidics market in the region expected to flourish at a prominent rate.
- North America emerged as the largest share holder in the global microfluidics market owing to the presence of well-established market players in the region
- The Asia Pacific encountered to be the fastest growing market because of affordable labor, sophisticated research infrastructure, and adoption of microfluidic platforms
- The PDMS-based microfluidic chips segment led the global microfluidics market in terms of revenue in 2019 and expected to register the fastest growth rate over the analysis period
- Polymer-based microfluidic devices proved as a better alternative to the glass and silicon-based microfluidic devices
- Based on technology, the medical technology segment dominated the global market in 2019 owing to the major benefits offered by the microfluidics for the POC diagnostics
- The lab-on-a-chip application accounted for the largest value share in the global market and estimated to continue its dominance throughout the analysis period
Key Players of the global microfluidics market are:
- Agilent Technologies, Inc.
- Illumina, Inc.
- Perkinelmer, Inc.
- Life Technologies Corporation
- Bio-Rad Laboratories, Inc.
- Hoffmann-La Roche Ltd
- Abbott Laboratories
- Fluidigm Corporation
- Qiagen N.V.
- Thermo Fischer Scientific
- Cellix Ltd.
- Micronit Micro Technologies B.V.
Segments Covered in the Report:
- Gel Electrophoresis
- PCR & RT-PCR
- Continuous Flow Microfluidics
- Acoustofluidics and Microfluidics
- Optofluidics and Microfluidics
- Electrophoresis and Microfluidics
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina