Microfluidics Market to Grow with a CAGR of 12.24% through 2029
Rising demand for
point-of-care testing and increasing number of the elderly population & the
spread of chronic diseases worldwide is expected to drive the Global Microfluidics
Market growth in the forecast period, 2025-2029.
According to
TechSci Research report, “Microfluidics Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2029F”, the
Global Microfluidics Market stood at USD
28.34 Billion in 2023 and is anticipated to grow with a CAGR of 12.24%
in the forecast period through 2029. The projected rise in demand for point-of-care (POC) devices is anticipated to significantly expand market size in the coming years. There is a marked demand for low-volume sample analysis, in vitro diagnostics (IVD), high-throughput screening methodologies, and the advancement of innovative lab-on-a-chip technologies, all of which will further enhance the growth of the microfluidics market over the analysis period. Microfluidics provides a strong return on investment and aids in cost control by minimizing errors. Additional factors propelling market growth include the increasing integration of microfluidics technology in point-of-care diagnostics, advancements in diagnostic devices, and the rising prevalence of chronic diseases globally. Collectively, these factors drive the demand for molecular diagnostics and positively influence the growth of the microfluidics market.
Microfluidic devices present significant advantages in analyzing small sample volumes, which helps to reduce reagent waste and preserve scarce samples. The demand for low-volume sample devices has surged due to the emergence of microfluidics and heightened research activities among analytical and clinical researchers. Unlike conventional genome analysis methods, which necessitate the decoding of entire DNA sequences, microfluidic devices require only minimal sample volumes for data interpretation, thereby lowering both analysis costs and time. The adoption of microfluidics has facilitated the miniaturization of traditional laboratory procedures onto lab-on-a-chip platforms.
The introduction of point-of-care diagnostics by various market players has improved early disease detection and decreased the need for hospital visits. With technological advancements, companies are differentiating their products through the integration of minimally invasive features, enhanced accuracy, and faster results. Consequently, microfluidics has made significant contributions to the in vitro diagnostics (IVD) market. Major players, including Abbott, Roche, and Danaher, have already incorporated microfluidics technology into their diagnostic devices.
Moreover, key industry players are investigating digital microfluidics, with HORIBA partnering with SigTuple to expedite the deployment of AI100, an AI-assisted digital pathology solution, in the Indian subcontinent. SigTuple’s innovative diagnostic solutions combine AI, robotics, microfluidics, and cloud computing to enhance accessibility and affordability in healthcare. The increasing utilization of microfluidics devices across various research and diagnostic fields has led industry players to introduce advanced technologies to capture potential market share. Numerous companies are currently testing their devices with expectations for commercialization. For instance, BIOLASE, Inc. and EdgeEndo received FDA 510(k) clearance for the EdgePRO system in January 2023. This system provides an enhanced disinfection and cleaning solution for root canal procedures, utilizing laser-aided microfluidic irrigation without disrupting workflow or significantly raising costs per procedure. Additionally, the Loschmidt laboratories team, in collaboration with partners from ETH Zurich, developed a microfluidic platform in March 2021 for the rapid investigation of enzymes and their properties.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Microfluidics Market”
The Global Microfluidics
Market is segmented into technology, material, application, regional
distribution, and company
Based on the
Material, The market for microfluidics was predominantly influenced
by the Polydimethylsiloxane (PDMS) segment. Among various polymers, PDMS has
gained significant popularity, especially in microfluidic devices for rapid
prototyping. This can be attributed to the wide acceptance of PDMS among
academic professionals, primarily due to its ease of manufacturing and
cost-effectiveness. Notable characteristics of PDMS include flexibility,
transparency, biocompatibility, and gas permeability. However, it is important
to note that PDMS has some limitations, such as weak IR transmission behavior
and a longer curing time, which make it comparatively more challenging to work
with.
Based on region,
North America segment is expected to grow during the forecast period. North
America dominates the microfluidics market and is expected to hold a
significant share over the forecast period. This can be attributed to factors
such as the well-established healthcare system and the higher adoption of novel
therapeutics among the general population. The region has witnessed
an increasing prevalence of infectious and chronic diseases, further driving
the demand for microfluidic technologies. The field of microfluidics in North
America is experiencing substantial growth, with considerable investments in
research and development.
Furthermore, the
market in the North American region is boosted by the continuous product
launches by key market players. For example, LexaGene launched the MiQLab
system for the detection of the SARS-CoV-2 virus, expanding its use from
research-only to point-of-care applications, after receiving emergency use
authorization (EUA) in the United States in January 2021. Similarly, LumiraDx
submitted the LumiraDx SARS-CoV-2 & Flu A/B Test to the Food and Drug
Administration (FDA) for Emergency Use Authorization (EUA) in October 2021.
This microfluidic immunofluorescence assay enables quick verification of
infection for patients suspected of flu and COVID-19, aiding in diagnosis and
clinical decision-making.
Major companies
operating in Global Microfluidics Market are:
- UFluidix
- Bio-Rad Laboratories Inc.
- Emulate Inc.
- Dolomite Microfluidics (Blacktrace
Holdings Ltd)
- Sphere Fluidics Limited
- FluIdigm Corporation
- Illumina Inc.
- Micronit Microfluidics
- PerkinElmer Inc.
- Hesperos Inc.
Download Free Sample Report
Customers can
also request for 10% free customization on this report
“The increasing
demand for microfluidics technology, advancements in diagnostic equipment, and
the rising prevalence of chronic diseases are significant drivers for market
expansion. However, the utilization of microfluidics in healthcare is
accompanied by the development of regulatory criteria, leading to delays in the
approval of microfluidic devices and hindering market growth. Additionally, the
incorporation of emerging microfluidics technology in existing applications
poses an additional barrier to market expansion. Consequently, businesses are
allocating resources to address these challenges. Rapid technological
advancements in the healthcare and pharmaceutical sectors are expected to drive
the demand for microfluidics-based products in the coming years. Currently,
microfluidics is extensively utilized in drug discovery and development,
clinical diagnostics, genomics, and proteomics. Furthermore, the increasing
popularity of portable diagnostic devices is anticipated to contribute to the
growth of the microfluidics market in the near future”, said Mr. Karan Chechi,
Research Director of TechSci Research, a research-based management consulting
firm.
“Microfluidics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Technology (Medical/Healthcare, Non-medical), By Material (Silicon, Glass, Polymer, PDMS, Others), By Application (Lab-on-a-chip, Organs-on-chips, Continuous flow microfluidics, Optofluidics and microfluidics, Acoustofluidics and microfluidics, Electrophoresis and microfluidics), By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Microfluidics Market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Microfluidics
Market.
Contact
TechSci
Research LLC
420
Lexington Avenue, Suite 300,
New York,
United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com