Microfluidic Devices Market Share And Trends Analysis By Industry (In-Vitro Diagnostics, Pharmaceutical (Chips For Lab Analytics, Accurate Dispensing Devices And Micro-Reactors For Drug Synthesis), Medical Devices (Micro Pumps And Dispensing System, Inhalers, Micro-Needles And Others) And Others))), Material (Polymer, Glass, Silicon And Others), Application (Pharmaceutical And Life Science Research, Clinical And Veterinary Diagnostics, Point Of Care Diagnostics, Analytical Devices, Drug Delivery, Environmental And Industrial And Others) And Region (Americas, Europe, Asia-Pacific And Middle East & Africa) - Forecast 2027
|ID: VPR/HC/1042||Publishing Year: October 2021||Pages: 82||Format:|
Microfluidic Devices Market Overview:
The Microfluidic Devices Market is projected to grow from USD 7.7 billion in 2020 to reach USD 29.1 billion by 2027; it is expected to grow at a CAGR of 20.92% from 2020 to 2027.
Pre-hospital analysis, such as a routine blood glucose level check, can be performed at home, minimising hospital visits and stays. Various industry participants introduced point-of-care diagnostics, which resulted in fewer hospital visits and earlier disease diagnosis. Industry companies can now differentiate their products with less intrusive features, as well as speed and precision, thanks to advanced technologies. As a result, microfluidics has established itself in the IVD industry.
Furthermore, miniaturisation is required for microfluidics to be used in wearable devices. Several large companies, including F. Hoffmann-La Roche Ltd., BD (Becton Dickinson and Company), and Abbott, have expanded their Microfluidics portfolio across clinical, Point-of-Care (POC), and veterinary diagnostics, as a result of the concept of incorporating microfluidics to manufacture pocket-sized/wearable devices. Agilent Technologies, Inc., Illumina, Inc., and Fluidigm Corp. are among the other major players.
The use of Microfluidics in diagnostics is increasing, particularly in point-of-care diagnostics. Microfluidics-integrated biosensor technologies, which are likely to improve POC diagnostics, are also being considered. The goal of combining microfluidic components with POC devices is to achieve sensitivity, stability, accuracy, cost-effectiveness, and minimally invasive POC technology.
The Global Microfluidics Market is highly competitive, with a large number of global and local market players competing for higher market shares. Danaher Corporation (US), Thermo Fisher Scientific (US), PerkinElmer Inc. (US), Agilent Technologies (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), F. Hoffmann-La Roche (Switzerland), Illumina, Inc. (US), Fluidigm Microfluidics (US), Abbott Laboratories (US), and QIAGEN (Netherlands) are some of the prominent players in the Microfluidic-Based Devices Market.
The prominent players in the Global Microfluidic Components Market include Parker-Hannifin Corporation (US), Fluigent SA (France), Idex Corporation (US), Camozzi Automation Spa SocietàUnipersonale (Italy), Gems Sensors and Control (US), Aignep S.P.A. (Italy), SMC Corporation (Japan), Dolomite Microfluidics (UK), Cellix Ltd. (Ireland), Elveflow (France), Microfluidic ChipShop (Germany), MicronitMicrotechnologies (Netherlands), and MicroLiquid (Spain).
The Covid-19 is afflicting people all across the world. This has put a strain on pathological labs, which are responsible for continual testing and diagnosis of diseases so that they can be treated effectively and quickly. Every country's government invests a significant portion of its resources on research and development programmes. As a result, the labs and research institutes are more equipped than they were previously.
As the number of tests grows, more mobile Microfluidics Devices must be procured and manufactured. This has allowed for an increase in the sales of point-of-care equipment, allowing for more fast antigen testing.
The desire for genomes, or the full strand of cells, as well as proteomes, is growing. The Microfluidic Devices Market is primarily driven by this factor. Microfluidic technologies have also made it possible to test microscopic cells. Because the amount of material used and kept for testing is so small, handling is easier, and the findings are obtained faster than with traditional testing procedures.
The main advantage of employing Microfluidic Devices Market is that they only utilise a minimal amount of chemicals that are monitored. It lowers the overall cost of research. Wireless connections to cell phones are also possible with Microfluidic Devices Market. Another benefit of scientific progress is that this is now possible. Because of this capability, point-of-care testing is possible.
Businesses must follow the law of the land and are not permitted to operate outside of it. Medical authorities' strict restrictions requiring standardisedMicrofluidic Devices may stifle Worldwide Market Expansion. The cost of the raw materials used to manufacture or assemble the testing equipment is high. This is another another stumbling block for Microfluidic Device Makers.
Because of unhealthy lifestyles that lead to worsening health and rising chronic disease statistics, it's more necessary than ever to receive a faster diagnosis of diseases and discover the least dangerous cure for them. Microfluidics device collagen gel, microfluidics device syringe pump, piezoelectric device microfluidics, Microfluidics chromatography device, and other devices are being introduced by key players in the Microfluidic Devices Market to make testing easier and more proficient.
The Global Microfluidic Device Market can be classified into several segments. These are industry-specific, material-specific, and application-specific.
Based On Industry:
In-vitro, or in a test tube, diagnosis, pharmaceutical items, and medical gadgets are all part of this area. In the year 2018, in-vitro diagnosis had a market share of 50.6 percent. Pharmaceuticals are further subdivided into chips for lab analysis, precise dispensing apparatus, and drug production micro-reactors. Micro-pumps and dispensing systems, inhalers, micro-needles, and other medical devices are among the medical gadgets.
Based On Material Used:
Polymer, glass, silicon, and other materials are among the materials utilised in the production of microfluidic devices. Polymer is a more cost-effective and accessible material than glass or silicon. Polymer has the biggest Market Share in Microfluidic Devices Market because of this.
Based On Application:
Pharmaceutical and Life Science Research institutions, Clinical and Veterinary Diagnostics labs, Point of Care Diagnosis and rapid testing centres, Drug manufacturing and delivery, Environmental and Industrial equipment, and others are among the places where microfluidic devices are installed or used.
North America dominated the market in 2020, accounting for 43.2 percent of total sales. Research institutes are playing an increasingly important role in the creation of new microfluidic devices, ensuring regional dominance in the global market. Throughout the research period, the United States emerged as a crucial contributor to the region's dominance. In addition to well-established firms, the country is home to a number of new microfluidics companies.
Microfluidics, for example, is a U.S.-based company that sells Microfluidizer, a proprietary microfluidics technology. This technology is used to make high-shear fluid processors that can produce efficient cell disruption, nanoemulsions, and particle size reduction.
Frequently Asked Questions
Type Here for table of content.