Microfluidic Devices Market Size, Share, Analysis, Trends and Opportunities 2022 - 2030
Microfluidic
device, simply put, is a technology which enables the integration of several
medical tests on one chip. This has turned into a crucial technology for
parallelization, miniaturization, industrialization, and integration of
numerous tests in diagnostics, biological research, and drug development.
Microfluidic
Devices Market Size is expected to reach USD
1,820.0 Million by 2030 at 17.20% CAGR during the forecast period 2022-2030
Various factors
are propelling the microfluidic devices market growth. These factors, according
to the latest MRFR report, include the rise in demand for point of care testing
products, growing demand in proteomics and genomics, miniaturization of chips,
liquid biopsies, personalized medicine, and organ-on-a-chip. Additional factors
pushing market growth include rising use in drug delivery systems, especially
inhalers and insulin pumps and growing awareness of the benefits of
microfluidic devices.
Microfluidic technology has revolutionized the
field of medical diagnostics by enabling the precise manipulation of tiny
volumes of fluids for rapid testing and analysis.
On the contrary,
stringent government policies may hamper the microfluidic devices market growth
over the forecast period.
Major Key
Players:
Some Of the Key Microfluidic Devices
Market Players are microfluidic companies are BioMérieux, Thermo
Fisher Scientific Inc., Perkinelmer Inc., Elveflow, BD, Johnson & Johnson
Services, Inc., Micronit Microtechnologies, Dolomite Microfluidics, RainDance
Technologies, Inc., CEPHEID, BIO-RAD LABORATORIES, INC., Fluidigm, Siemens,
Agilent Technologies, Inc., F. HOFFMANN-LA ROCHE AG, and Abbott Laboratories. Various
strategies acquired by the key players in the market to create a niche in the
market, such as expansion, acquisition, product development, and innovation.
Segment Analysis
The Market Research Future report provides a wide segmental
analysis of the Microfluidic Devices Market Insights by industry, material, and
application.
Based on industry, the microfluidic devices market is
segmented into medical devices, pharmaceutical, in-vitro diagnostics, and
others. The pharmaceutical segment is further segmented into micro-reactors for
drug synthesis, accurate dispensing devices, and lab analytics. The medical
devices segment is again segmented into micro-needles, inhalers,
dispensing system, micro-pumps, and others. Of these, the in-vitro diagnostics
segment will have the largest share in the market over the forecast period.
This is owing to the growing demand for early diagnosis.
Based on material, the microfluidic devices market is
segmented into silicon, glass, polymer, and others. Of these, the polymer
segment will dominate the market over the forecast period. Polymer is an
affordable material that allows for rapid fabrication processes compared to
glass and silicon. Polydimethylsiloxane (PDMS), polycarbonate, cyclic olefin
copolymer, polymethyl methacrylate, polyvinyl chloride, and polystyrene are the
most common polymers used in prototyping microfluidic devices fabrication of microfluidic
chips.
By application, the microfluidic devices market is segmented
into environmental and industrial, drug
delivery, analytical devices, point of care diagnosis, clinical and
veterinary diagnostics, and pharmaceutical and life science research.
Regional
Analysis
Based on the region, the
microfluidic devices market report covers the latest trends and growth opportunities
across Europe, the Americas, Asia Pacific (APAC), and the Middle East and
Africa (MEA). Of these, the Americas will lead the market over the forecast
period. This is due to the rising geriatric population, rising healthcare
awareness, increasing lifestyle and chronic diseases, technological
developments for different home use applications, and extensive insurance
infrastructure facilities.
The microfluidic devices market
in Europe is predicted to have the second-largest share in the market over the
forecast period. This is owing to the increasing participation of market
players and technological advancements
The microfluidic devices market
in the APAC region is predicted to grow at the fastest pace over the forecast
period. This is owing to the introduction of technologically advanced products
by leading companies.
The microfluidic devices market
in the Middle East and Africa will have a minimal share in the market during
the forecast period due to the low economic development in the African region.
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