Microfluidics Device Market Forecast till 2027

Microfluidics Device Market Forecast till 2027

Market Overview
The Microfluidic Device is an innovative technology that combines several medical tests on a single chip, enabling integration, industrialization, miniaturization, and parallelization of various tests in different fields of drug development, biological research, and diagnosis. The growth of the Microfluidic Devices market is primarily driven by the increasing demand for microfluidic technologies to miniaturize the chip and testing products, as well as the rising demand for genomics and proteomics. Another significant advantage of microfluidics devices is their ability to analyze small volumes of samples, resulting in less reagent waste and preservation of samples that are difficult to produce.

The demand for low-volume sample devices has surged with the introduction of microfluidics devices, and the research activities undertaken by analytical and clinical researchers have also contributed to the demand for microfluidics devices. Conventional genome analysis methods require the decoding of the entire DNA, leading to increased analysis costs and time. In contrast, microfluidics devices require only a small volume of samples for data interpretation, and the application of microfluidics has enabled conventional laboratory procedures to be miniaturized onto a lab-on-a-chip.

Segment Overview
The Microfluidic Devices market is categorized into different segments based on industry, materials, application, and regions. During the forecast period, the market is predicted to experience significant growth. In terms of application, the market is divided into various categories, including clinical and veterinary diagnostics, pharmaceutical and life science research, environmental, care diagnostics, point of analytical devices, drug delivery and industrial, and others. Additionally, based on propulsion types, the market is segmented into medical devices, in-veto diagnostics, pharmaceutical, and others.

Regional Analysis
The microfluidics market in North America is the dominant region. The growth in the market is mainly attributed to the increased research funding from government organizations and industries. The demand for microfluidics devices in the research and diagnostics field has led to an increase in industry-academia collaboration, which has accelerated the commercialization of lab-built devices.

For instance, in July 2020, Fluidigm Corporation entered into a letter contract with the National Institute of Biomedical Imaging and Bioengineering and the National Institutes of Health for the Rapid Acceleration of Diagnostics program. The program had an overall proposed budget of up to USD 37 million and aimed to expand the output capabilities and production capacity for COVID-19 testing with microfluidics technology from Fluidigm. Additionally, the program fast-tracked the commercialization and development of innovative technologies to significantly increase testing capacity for SARS-CoV-2 in the U.S.

Major Players
Key players in the market are Agilent Technologies, Inc., Thermo Fisher Scientific Inc., Micronit Microtechnologies, Johnson & Johnson Services, Inc., Abbott Laboratories, Dolomite Microfluidics, Siemens, Fluidigm, CEPHEID, F. HOFFMANN-LA ROCHE AG, RainDance Technologies, Inc., Elveflow, Perkinelmer Inc., BIO-RAD LABORATORIES, INC., and BioMérieux.

COVID 19 Impacts
The global Microfluidics Device Market has been significantly impacted by the COVID-19 pandemic, resulting in both positive and negative effects. The market experienced a surge in demand for microfluidic devices, especially diagnostic devices, due to the urgent need for rapid and accurate testing during the pandemic. The development of microfluidic-based diagnostic tools for COVID-19 testing played a vital role in managing and controlling the spread of the disease.

However, the pandemic has also had negative impacts on the microfluidics market, such as supply chain disruptions, workforce shortages, and reduced funding for research and development activities. Manufacturing facilities shutting down, as well as trade and transportation restrictions, led to product delivery delays that hindered the market's growth

Companies Mentioned
Agilent Technologies
Inc.
Thermo Fisher Scientific Inc.
Micronit Microtechnologies
Johnson & Johnson Services
Inc.
Abbott Laboratories
Dolomite Microfluidics
Siemens
Fluidigm
CEPHEID
F. HOFFMANN-LA ROCHE AG
RainDance Technologies
Inc.
Elveflow
Perkinelmer Inc.
BIO-RAD LABORATORIES
INC.
and BioMérieux.

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