Global Microfluidics Market Size 2024, Forecast To 2033
11 Mar, 2024
The microfluidics market has experienced rapid growth, ascending from $8.01 billion in 2023 to $9.11 billion in 2024, marking a compound annual growth rate (CAGR) of 13.7%. This acceleration in the historical period is linked to robust economic growth in emerging markets, a rise in chronic diseases, increased incidents of new infections and deaths due to the coronavirus disease, and a surge in healthcare expenditure. Looking ahead, the market is poised to reach $15.59 billion in 2028, with a CAGR of 14.4%. The anticipated growth is fueled by an increasing demand for point-of-care testing in the healthcare industry, the essential need for microfluidics, and a rising number of clinical studies for cell-based therapies. Noteworthy trends in this period include the utilization of white blood cell isolation technology, product innovations, the adoption of digital microfluidics platforms, integration of 3D printing in microfluidics, technological advancements, the use of in-vitro diagnostics tests, and strategic partnerships and collaborations.
Global Microfluidics Market Key Driver
The increasing demand for advanced point-of-care testing in the healthcare sector is fueling the growth of the microfluidics market. Microfluidics-based point-of-care (POC) devices enable rapid and precise diagnosis, addressing the need for faster testing compared to traditional lab methods. Governments, including the US Department of Health and Human Services, are investing significantly in POC testing capabilities. In November 2021, a $650 million investment was made to enhance manufacturing capacity for rapid molecular tests. This heightened demand for point-of-care testing is expected to boost the microfluidics market, with market sizes for 2023, 2024, and 2028 reflecting the growing importance of innovative microfluidic technologies.
Get A Free Sample Of The Global Microfluidics Market ReportGlobal Microfluidics Market Segments
The microfluidics market covered in this report is segmented –
1) By Material: Silicon-Based Microfluidics, Glass-Based Microfluidics, Polymer-Based Microfluidics
2) By Application: Industrial & Environmental, Drug Delivery, Pharmaceutical & Life Science Research, Analysis, Clinical & Veterinary Diagnostics
By Geography:The regions covered in the microfluidics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the microfluidics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the microfluidics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Microfluidics Industry Players
Thermo Fisher Scientific, Agilent Technologies, Illumina Inc, Bio-Rad Laboratories, Fluidigm Corporation, Dolomite Microfluidics, PerkinElmer, Inc., Biosurfit SA, Sphere Fluidics Limited, Micronit Micro Technologies B.V., Parker Hannifin Corp., Fluigent, Camozzi, Gems Sensors, Inc., Aignep S.P.A., SMC Corporation, Cellix Ltd, Elveflow, Microliquid, S.L., Danaher Corporation, BD, Absolute Ozone, FlowJEM, uFluidix, QuantWave Technologies Inc., Shelron Enterprises, Harvard Bioscience, Inc., Abaxis, Inc., OPKO Health, Inc., IDEX Health & Science LLC, Stämm, The Advanced Microfluidics and Microdevices Laboratory, Chromatotec Group, Abbott, Safarmex PTY Ltd
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Microfluidics Market Overview
Microfluidics refers to the science and technology of devices that process or manipulate small volumes of fluid (10-9 to 10-18L) through channels with a width of a few tens to several hundred micrometers. Microfluidic devices perform chemical analysis on small amounts of liquid, such as a droplet (blood). Microfluidics-based devices evolved as an alternative to conventional laboratory techniques, as they have the potential to carry out complete laboratory protocols on a single small chip.
Microfluidics Global Market Report 2023 provides data on the global microfluidics market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The microfluidics market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.