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Microfluidics Market research report is useful in collecting information on consumers from structured distribution research and helps in making marketing customer oriented. By using promotional research to study media mix, advertising effectiveness, and integrated communication tools the report has been generated. Such market insights help in promoting effectively a company’s product in the market. Market report helps to comprehend the demands of customers, detect more business opportunities, plan the perfect marketing campaign, minimize losses, and keep track of the competition.
Data Bridge Market Research analyses that the microfluidics market which was USD 23.17 billion in 2022, is expected to reach USD 70.93 billion by 2030, at a CAGR of 15.01% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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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. As a result, global cancer incidence and modern healthcare facilities have been major drivers of market growth. Furthermore, market participants have broadened their diagnostic platforms to include POC on microfluidic devices. As a result of the expansion of the range of POC diagnostics, there will be a significant expansion in microfluidics, which may enable the development of new devices.
Microfluidics is a technological method used to investigate the nature and characteristics of fluids. Its application entails the use of a set of tools for manipulating and controlling the chemical and biological processes of small volumes of fluids. It is also used in the production of microminiaturized devices with numerous tunnels and chambers through which fluids flow or are confined. In comparison to traditional fluid measuring devices, it requires fewer samples, the tools are smaller, and it provides excellent parameter control and data quality. As a result, it’s commonly used for DNA analysis, cell separation and manipulation, and PCR amplification.
Drivers
Increased the demand for microfluidics tools
The global increase in COVID-19 cases has increased the demand for microfluidics tools. PCR is used in many approved tests, making it a preferred technique for COVID-19 diagnosis. To combat the increasing number of COVID-19 cases worldwide, several manufacturers have introduced products and increased production to meet the growing demand for IVD tests. When combined with microfluidics, the PCR technique can be accelerated, resulting in faster test results with high accuracy (from approximately 1 hour to less than 10 minutes). For instance, BeforCure, an Elvesys spin-off company, developed an ultra-fast PCR-on-chip system for virus detection. This product is based on Fastgen technology and takes advantage of microfluidics to provide test results in less than 30 minutes. Moreover, several studies are being conducted to evaluate the use of microfluidics in COVID-19 detection via PCR. These are the certain factors which help the market to grow.
Rise in demand of Point-of-care diagnostics (POC)
Point-of-care diagnostics (POC) is believed to be an important part of healthcare, particularly in disease diagnosis. Microfluidics technology is ideal for point-of-care diagnostics. This technology has the potential to provide rapid and affordable point-of-care diagnostic tools to aid in the COVID-19 pandemic. The demand for point-of-care molecular diagnostics is expected to increase in the future because point-of-care diagnostics enable the early detection of disease,
Recent Developments
- In 2021, Fluidigm launched its new Biomark X microfluidics platform. Biomark X streamlines operations to reduce hands-on time and speeds up results with more data per run.
- In 2021, SCHOTT agreed to buy Applied Microarrays Inc., a microarray solutions company based in Arizona. This will strengthen the company’s presence in the United States as well as its bioscience capabilities.
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Global Microfluidics Market Scope
Product Type
- Microfluidic-based devices
- Microfluidic Components
- Microfluidic chips
- Flow and pressure sensors
- Flow and pressure controllers
- Microfluidic valves
- Micropumps
- Microneedles
- Components
Material
- Polymer
- Glass
- Silicon
- Metal
- Ceramics
- PDMS
- Other
Technology
- Medical/Healthcare
- Non-medical
Application
- In Vitro diagnostics
- Clinical diagnostics
- Point-of-care testing
- Veterinary diagnostics
- Point-of-Care Testing
- Clinical Diagnostics
- Pharmaceutical Research
- Lab Analytics
- Proteomics
- Genomics
- Cell-based assays
- Capillary electrophoresis
- Microdispensing
- Microreaction
- Drug Delivery
- Laboratory Testing
- Analytical Testing
- High Throughput Screening
Sector
- Industrial
- Healthcare
- In-vitro Diagnostics
- Environmental Research
- Clinical Diagnostics
End User
- Hospitals and Diagnostic Centers
- Academic and Research Institutes
- Pharmaceutical and Biotechnology Companies
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