Microfluidics is the science and technology of systems that process or manipulate small amounts of fluids, using channels with dimensions of tens to hundreds of micrometers. Generally, microfluidics involves controlling and manipulating fluids that are geometrically constrained to a small, typically sub-millimeter, scale and handling fluid samples on the (sub-microliter) scale. Over the past few decades, the field of microfluidics has grown tremendously and found applications in areas such as healthcare diagnostics, drug delivery, chemical and biological analysis. Global microfluidic market growth is driven by technological advancements in biomedical science, increased demand for point-of-care testing and rising R&D investments in the sector. However, design complexities and need for specialized manufacturing equipment can pose challenges for the market growth.
Market Dynamics:
Global microfluidic market growth is driven by several factors such as growing demand for point-of-care testing and organ-on-chip devices, increasing R&D funding and private investments in microfluidics technology, rising prevalence of chronic and infectious diseases that creates need for rapid disease diagnosis. However, design complexities coupled with the need for specialized equipment for microfabrication processes can hinder workflow and adds to costs. Lack of standardized protocols and regulations can also hamper the market growth. Emerging application areas across genomics, proteomics and other fields of biomedical research can offer significant opportunities for market growth in the near future. Wider geographical access through technology miniaturization provide scope for more affordable diagnosis.
Key Features of the Study:
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