Microfluidics Market Is Majorly Driven By Rapid Demand For Low-Volume Sample Analysis

San Francisco, Calif., USA, Sept. 26, 2020 — /EPR Network/ —

Microfluidics Industry Overview

The global microfluidics market size was valued at USD 17.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.3% from 2021 to 2028. The market is majorly driven by the rising number of clinical studies for cell-based therapies. Rapid demand for low-volume sample analysis, high-throughput screening methodologies, In Vitro Diagnostics (IVD), and development of advanced lab-on-a-chip technologies are collectively contributing to market growth. Moreover, microfluidics offers a high return on investment and helps in cost control by minimizing errors.

Gather more insights about the market drivers, restraints, and growth of the Global Microfluidics Market

Pre-hospital analysis like routine blood glucose level check can be done at home, thereby reducing the number of hospital visits and stays. The point-of-care diagnostics introduced by various market players led to decreased hospital visits and early disease diagnosis. With advanced technologies, industry players now differentiate their products using minimally invasive features along with speed and accuracy. Microfluidics has thus made its mark in the IVD market.

Moreover, miniaturization is crucial for microfluidics to be potentially applied across wearable devices. The concept of incorporating microfluidics to manufacture pocket-sized/wearable devices has encouraged various large companies such as F. Hoffmann-La Roche Ltd., BD (Becton Dickinson and Company), and Abbott to expand their microfluidics portfolio across clinical, Point-of-Care (POC), and veterinary diagnostics. Other key vendors include Agilent Technologies, Inc.; Illumina, Inc.; and Fluidigm Corp.

Germany microfluidics market size, by medical technology, 2018 - 2028 (USD Million) 

The application of microfluidics is growing in the field of diagnostics, especially in POC diagnostics. This is also supplemented by microfluidics-integrated biosensor technologies that are expected to enhance POC diagnostics. The combination of microfluidic components with POC devices is largely focused on achieving sensitivity, stability, accuracy, affordability, and obtaining minimally invasive POC technology.

Rapid diagnosis is still of paramount importance in the current COVID-19 management. The longer timelines required by existing commercialized COVID-19 tests coupled with time taken by large-scale laboratories and hospitals to get back to the patient with the results has paved way for point-of-care testing of COVID-19 patients. Microfluidics is well suited for the development of COVID-19 point-of-care testing as, it offers rapid turnaround times, exhibits a clinically relevant detection limit, and results in the development of cost-effective tests.

Browse through Grand View Research’s Medical Devices Industry Research Reports.

  • In Vitro Diagnostics Market – The global in vitro diagnostic market size was valued at USD 111.67 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 0.2% from 2022 to 2030. The growth can be attributed to the increasing adoption of IVDowing to the rise in testing due to the pandemic.
  • Lateral Flow Assays Market – The global lateral flow assays market size was valued at USD 7.2 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028. Lateral Flow Assays (LFAs) have been developed over half a century ago, facilitating diagnosis across several applications, such as healthcare, environmental testing, and food and beverage.

Market Share Insights

June 2020 – Illumina announced its latest cohort of startup entities expected to commence operations in collaboration with the company’s teams across San Francisco and London. This cohort includes a high-throughput microfluidics startup entity-WellSIM Biomedical Technologies, Inc.

September 2019 – Fluidigm Corporation launched a novel microfluidics-based workflow, Advanta RNA-Seq NGS Library Prep Kit, that provides substantial cost savings and operational efficiencies for mid-to-high-throughput laboratories.

Key Companies profiled:

Some of the prominent players in the microfluidics market include:

  • Illumina, Inc.
  • Hoffmann-La Roche Ltd
  • PerkinElmer, Inc.
  • Agilent Technologies, Inc.
  • Bio-Rad Laboratories, Inc.
  • Danaher Corporation
  • Life Technologies Corporation
  • Abbott Laboratories
  • Thermo Fisher Scientific
  • Qiagen
  • Biomérieux
  • Elveflow
  • Cellix Ltd.
  • Micronit Micro Technologies B.V.
  • Fluidigm Corporation

Order a free sample PDF of the microfluidics market Intelligence Study, published by Grand View Research.

Matched content

Editor’s pick

Express Press Release Distribution