Microfluidics Market to Register Growth at 16.3% During the Forecast Period 2022-2028

Posted on 2022-06-16 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, June 16, 2022 — /EPR Network/ —

The global microfluidics market size is expected to reach USD 60.3 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.3% from 2021 to 2028. Significant across clinical and analytical research is expected to boost the adoption of microfluidics devices, thereby driving the market. Additionally, the need for effective devices, which can handle low-volume sample devices offers lucrative market opportunities. Thus, market entities have already begun to integrate microfluidics technology into their existing portfolio of diagnostic products.

Microfluidic POC technologies are expected to enhance patient care by ensuring personalization, early disease detection, and easy monitoring. In addition, integration of microfluidics with POC devices is expected to offer significant profitable opportunities to manufacturers operating in developing economies.

Lateral Flow Assay (LFA) and nucleic acid amplification are 2 peculiar technologies, which represent a majority of the microfluidic point of care diagnostics. Over the past few years, several microfluidic technologies have been introduced to offer rapid point-of-care testing to the central laboratories or high-throughput diagnostic solutions, alternatively. An upsurge in the demand for such tests, with millions of these tests required each month across the globe, is estimated to make significant revenue contributions particularly in the respiratory-testing area, attributed to the COVID-19 pandemic outbreak.

Microfluidics Market Segmentation

Grand View Research has segmented the global microfluidics market based on technology, application, material, and region:

Based on the Technology Insights, the market is segmented into Medical/Healthcare and Non-medical.

The medical technology segment dominated the market and accounted for the largest revenue share of 83.3% in 2020. Microfluidics is gaining significant traction in Point-of-Care (POC) diagnostics since it is associated with several advantages that facilitate the development of novel POC diagnostics.
The non-medical segment is expected to expand at a CAGR of 14.4% from 2021 to 2028. Microfluidics finds applications in the non-medical segment for extraction of crude oil in porous rocks, detection of plant pathogens, and producing gas bubbles of different sizes.

Based on the Application Insights, the market is segmented into Lab-on-a-chip, Organs-on-chips, Continuous flow microfluidics, Optofluidics and microfluidics, Acoustofluidics and microfluidics, Electrophoresis and microfluidics.

The lab-on-a-chip segment dominated the market and accounted for the largest revenue share of 38.5% in 2020.
The organs-on-chips segment is expected to witness a CAGR of 21.9% over the forecast period. Organ-on-chip is a functional microchip incorporated with living cells that are able to mimic various processes in the body, such as peristalsis, infection, and breathing.

Based on the Material Insights, the market is segmented into Silicon, Glass, Polymer, PDMS and Others.

The Polydimethylsiloxane (PDMS) segment dominated the microfluidics market and accounted for the largest revenue share of 34.7% in 2020.
Glass pegged the 2^ndposition in terms of revenue generated in 2020 and is projected to witness a CAGR of 14.4%. Glass-based microfluidics devices are majorly used in analysis applications with elevated temperatures and organic solvents.

Microfluidics Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Companies are initiating facility expansions, collaborations, and introducing new products to strengthen their market position.

Some prominent players in the global 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.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick