Microfluidic Devices Market By Product (Microfluidic-based Devices, Microfluidic Components), By Application (In-vitro Diagnostics, Pharmaceutical & Life Science Research and Manufacturing, Therapeutics), By End User (Hospitals & Diagnostic Centers, Academic & Research Institutes, Pharmaceutical & Biotechnology Companies): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global microfluidic devices market was valued at $20,971.0 million in 2021, and is projected to reach $158,119.5 million by 2031, registering a CAGR of 22.4% from 2022 to 2031.
Microfluidics is the study of systems that can process small quantities of fluids by using tiny channels having dimensions at the microscale – typically tens to hundreds of micrometers. Microfluidics allows the analysis and use of less volume of samples, chemicals and reagents reducing the global fees of applications.
The increase in prevalence of various infectious diseases such as Flu A, B and diphtheria boosts the growth of the market. Microfluidics are used in the diagnostics of various infectious diseases. In addition, novel approach for the cost-effective diagnosis of tuberculosis further contributes toward the growth of the market. For instance, according to world health organization (WHO), a total of 1.5 million people died from tuberculosis in 2020 worldwide, and tuberculosis is the thirteenth leading cause of death. Thus, increase in prevalence of infectious diseases and rise in use of microfluidics for diagnosis drive the growth of the market.
Moreover, microfluidics are highly sensitive and cost effective which drives the demand for microfluidics devices in diagnosis. In addition, the microfluidics device-based diagnosis requires less quantity of sample and easy product type of operation which boosts the adoption of microfluidics in diagnosis
Furthermore, increase in prevalence of autoimmune disease such as rheumatoid arthritis, scleroderma, and lupus contributes toward the growth of the market. For instance, according to global RA network, approximately 350 million people have arthritis globally. Arthritis, or joint disease, is inflammation of one or more of the joints, such as the knees, knuckles, wrists, or ankles. Arthritis starts as joint inflammation but can progress into joint pain, swelling, and stiffness. A microfluidic chip was recently developed to detect autoimmune diseases. The device measures the number of specified antibodies in the blood.
Moreover, increase in R&D activities for development of advanced microfluidics device such as 3D printing & robotics, rise in U.S. food and drug administration (USFDA) approvals and novel product launch in the market by key players boost the market growth. For instance, in December 2020, Conformis, Inc., a leader in patient-specific knee and hip instrumentation and implants, announced today the U.S. commercial launch of the Company’s new Cordera Match Hip System. Furthermore, advancements in microfluidics devices such as robotics and navigation support further contribute toward the market growth. However, high cost of microfluidics devices and product recall are anticipated to hinder the growth of the market.
The microfluidics device market is segmented on the basis of product type, application, end user and region. By product type, the market is divided into microfluidic-based devices and microfluidic components. The microfluidic components segment is classified into microfluidic chips, flow & pressure sensors, flow & pressure controllers, microfluidic valves, micropumps, microneedles and other components.
Depending on application, the market is classified into in-vitro diagnostics, pharmaceutical & life science research & manufacturing and therapeutics. The in-vitro diagnostics segment is further classified into clinical diagnostics, point-of-care testing and veterinary diagnostics. The pharmaceutical & life science research & manufacturing and therapeutics segment is further classified into lab analytics, microdispensing and microreaction. The lab analytics segment is further categorized into proteomics, genomics, cell-based assays and capillary electrophoresis.
The therapeutics segment is further classified into drug delivery and wearable devices.
Based on end user, the market is categorized into hospitals & diagnostic centers, academic & research institutes, and pharmaceutical & biotechnology companies. By region segment, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major companies profiled in the report include Lonza Group, Thermo Fisher Scientific Inc., Perkinelmer Inc., Biorad Laboratories, Inc., Illumina, Inc., Qiagen N.V., Fluidigm Corporation, Dolomite Microfluidics, bioMérieux SA, Abbott Laboratories, Danaher Corporation, SMC Corporation, Idex Corporation, Fortive Corporation, Agilent Technologies, Inc., Nanostring and Nortis Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the microfluidic devices market analysis from 2021 to 2031 to identify the prevailing microfluidic devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the microfluidic devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global microfluidic devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
Microfluidic-based Devices
Microfluidic Components
Type
Microfluidic Chips
Flow Pressure Sensors
Flow Pressure Controllers
Microfluidic Valves
Micropumps
Microneedles
Other Components
By Application
In-vitro Diagnostics
Type
Clinical Diagnostics
Point-of-care Testing
Veterinary Diagnostics
Pharmaceutical Life Science Research and Manufacturing
Type
Lab Analytics
Microdispensing
Microreaction
Therapeutics
Type
Drug Delivery
Wearable Devices
By End User
Hospitals Diagnostic Centers
Academic Research Institutes
Pharmaceutical Biotechnology Companies
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Soudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Lonza Group
Thermo Fisher Scientific Inc.
Perkinelmer Inc.
Biorad Laboratories, Inc.
Illumina, Inc.
Qiagen N.V.
Fluidigm Corporation
Dolomite Microfluidics
bioMérieux SA
Abbott Laboratories
Danaher Corporation
SMC Corporation
Idex Corporation
Fortive Corporation
Agilent Technologies, Inc.
Nanostring
Nortis Inc.
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