Critical Advancements in Healthcare Sector is Fueling the Microfluidics Market

Microfluidics
  • Microfluidics Market

The Global Microfluidics Market size is expected to grow fromUSD 18.62 Billion in 2021 toUSD 45.15 Billionby 2028 at aCompound Annual Growth Rate (CAGR) of 15.90% during the forecast period. Microfluidics is concerned with manipulating small amounts of fluid in micrometer-sized channels and cavities. It allows researchers to process fewer samples and reagents with higher efficiency and produce results faster than conventional methods, due to the high potential of microfluidic technology.

The market is mainly driven by the increasing number of clinical studies on cellular therapies. Rapid demand for low-volume sample analysis, high-throughput screening methods, in vitro diagnostics (IVD), and advanced technology development by generic lab-on-a-chip are the driving force behind the market growth. In addition, Microfluidics provide a high return on investment and helps control costs by minimizing errors. Rapid detection is of vital importance during the COVID19 pandemic. A large number of cases are tested daily, which places a burden on laboratories. Early detection can reduce unnecessary visits to medical centers and help the healthcare industry save lives by treating patients who test positive.

The Microfluidics Market is segmented based on technology in which medical components like PCR and RT-PCR, gel electrophoresis, microarrays, ELISA, and nonmedical components are included. The medical technology segment dominated the market, accounting for the largest share of sales in 2021. PCR and RTPCR have emerged as the largest revenue contributors in the medical device segment. Microfluidics is finding applications in the non-medical segment to extract crude oil from porous rock, detect plant pathogens, and produce air bubbles of different sizes. Fluid flows through porous media are difficult and complex to analyze optically. Microfluidic technology is the perfect technology to develop techniques for extracting crude oil trapped in porous rock, containing contaminants.

On the basis of application, the Global Microfluidics Market is divided into lab-on-a-chip, organs-on-chip, Continuous flow Microfluidics, optofluidics and Microfluidics, acoustofluidics and Microfluidics, electrophoresis and Microfluidics among other applications. Lab-on-a-chip provides high detection rates while maintaining the sensitivity required during DNA or RNA amplification and detection procedures. It is suitable for molecular biology applications. Lab chips enable rapid sequencing of DNA probes. Since DNA amplification using PCR technology relies on thermal cycling, the lab chip performs fast thermal microscale shifts. The materials used in Microfluidics Market are polymers, PDMS, silicones, and glass among others. The polydimethylsiloxane (PDMS) segment dominated the Microfluidics Market with the largest share. PDMS has gained considerable popularity in other polymers, especially microfluidic devices with rapid prototyping.

Microfluidics Markethas been studied in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America is expected to hold a considerable share in the Global Microfluidics Market. Due to increasing investment in research and development processes as well as the adoption of solutions in the region, the region is expected to grow at a faster pace during the forecast period.

The Global Microfluidics Market seems to be highly competitive in nature because of the market players that are significantly investing in new product development and advancement.

Some of the prominent players in the Microfluidics Market include Parker Hannifin Corporation (US), SMC Corporation (Japan), IDEXX Corporation (US), Fluigent SA (France), Aignep S.P.A. (Italy), Camozzi Automation SPA Societá Unipersonale (Italy), Dolomite microfluidics (UK), Elveflow (France), Cellix Limited (Ireland), Fortive Corporation (US), Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Perkinelmer Inc. (US), Agilent Technologies Inc. (US), Bio-Rad Laboratories Inc. (US), Becton, Dickinson and Company (US), Illumina Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Fluidigm Corporation (US), Abbott Laboratories (US). and others.