The global microfluidics market size is expected to reach USD 81.13 Billion in 2030 and register a revenue CAGR of 16.2% over the forecast period, according to the latest report by Reports and Data. Increasing importance of Point-Of-Care (POC) testing in medical emergencies for quick diagnosis and decision making is expected to drive market revenue growth during the forecast period. POC devices are widely accepted diagnostic tools in the healthcare sector owing to advantages such as rapid and accurate detection, ease of operation, cost-effectiveness, portability, and non-requirement of specialized professionals.
Microfluidics platforms handle low volume samples such as femtoliters (fL), which is one quadrillionth of a liter. This allows researchers to work with fewer samples and reagents with more accuracy and provide results faster than with traditional methods. The need for immovable desktop scanners or cameras that are sensitive to ambient light conditions makes it difficult to use paper-based colorimetric immunoassays such as enzyme-linked immunosorbent assay (ELISA). Microfluidic POC testing has proven to be a robust and optimal medical technology compared to standard laboratory-based testing, especially in demanding and resource-constrained environments. The COVID-19 pandemic has been one of the major factors driving adoption of POC testing owing to cost-effectiveness and short duration of patient stay in hospital.
Microfluidics inclusion in point-of-care testing enables fluid manipulation and detection in a single device with reduced sample volume requirements. Additionally, microfluidics with advanced plasmonic biosensor technology is expected to improve POC testing. Microfluidics-based plasmonic biosensors offer a high-throughput platform for biochemical molecular analysis, with ultra-high sensitivity and real-time performance. New functionalities can be enabled by combining optics with microfluidics without compromising integrability or compactness. Demand for these microfluidics-based advanced biosensor technologies devices is projected to rise as well as benefit current and emerging chemical analysis, POC testing, and biomedical research.
However, mass production and commercialization of microfluidic POC devices remain major obstacles to overcome. Regulatory requirements are an issue in the microfluidic market. Microfluidic devices are cost-intensive making them unaffordable in emerging low-income countries.
Future possibilities of microfluidic technology include food safety, agriculture, fertility, and gamete research, as well as single-cell analysis, in addition to diagnostics and point-of-care testing.
In-depth Study of the Competitive Landscape:
The global Microfluidics market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers & acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
uFluidix, Nanōmix, Inc., Quidel Corporation, biosurfit SA, Abbott, Illumina, Inc., Abaxis, NanoEntek, PerkinElmer Inc., and Bio-Rad Laboratories, Inc.
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Components Outlook (Revenue, USD Billion; 2019-2030)
- Microfluidic Chips
- Micropumps
- Microneedles
- Other Components
Application Outlook (Revenue, USD Billion; 2019-2030)
- Drug Delivery
- Point-of-Care (POC) Diagnostics
- Pharmaceutical and Biotechnology Research
- Clinical Diagnostics
- Others
Material Outlook (Revenue, USD Billion; 2019-2030)
- Polymer
- Silicone
- Glass
- Other Materials
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Microfluidics market over the forecast period?
- What are the major factors driving the growth of the Global Microfluidics Market?
- What are the key challenges impacting the global Microfluidics market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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