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The Microfluidics Market Size, Growth is driven by rising demand for microfluidics technologies in point-of-care testing and innovation in microfluidics product portfolio. The devices segment accounted for more than 46.34% of the market share in 2019. The microfluidic chips segment is estimated to register the highest CAGR in the market during 2020-2027
NEW YORK , Jan. 19, 2022 /PRNewswire/ -- According to the new market research report "Microfluidics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Microfluidic Chips, Microfluidic Sensors, Devices, Micropumps, Microneedles and Other Products), Material (PDMS, Polymers, Glass, Silicon, and Other Materials), Application (In Vitro Diagnostics, Pharmaceutical and Life Science Research, Drug Discovery, and Other Applications); and Geography", published by The Insight Partners, the global microfluidics market is expected to reach US$ 43,398.7 million in 2027 from US$ 11,851.1 million in 2019; it is estimated to grow at a CAGR of 17.9% from 2020 to 2027.
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Microfluidics Market: Competition Landscape and Key Developments
Agilent Technologies, Inc., BD, Bio-Rad Laboratories Inc., Danaher, Dolomite Microfluidics (Blacktrace Holdings Ltd.), Fludigm Corporation, Illumina, Inc. microfluidic ChipShop GmbH, Perkin Elmer, Inc., and Thermo Fisher Scientific Inc are among the key companies operating in the Microfluidic market. These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.
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In 2019, North America dominated the microfluidics market. The market growth in the region is attributed to the technological advancements, new product launches and increasing R&D activities are projected to accelerate the growth of the microfluidics market. In North America , the US holds a significant share of the microfluidics market. The growth of the market in the country is primarily driven by technological advancements, the launch of new and advanced products, and increasing R&D activities in the country. New York -based McDevitt Research laboratory is a medical microdevice group committed to improving the speed, accuracy, and affordability of disease diagnosis on a global basis. In 2015, the McDevitt Research laboratory introduced lab-on-a-chip technology that helps to integrate onto a single chip for several analyses, including analyses such as DNA sequencing or biochemical detection. Research on lab-on-a-chip mainly focuses on human diagnostics and DNA analysis.Moreover, in October 2016 , California based 10x Genomics has introduced its new, low-cost single-cell instrument Chromium Single Cell Controller, a massively scalable tool for comprehensive single-cell analysis, which is based on microfluidics consumables based on GemCode Technology. Thus, owing to the above-mentioned factors are likely to favor the growth of the market in the country during the forecast period).
The microfluidics market in Asia Pacific is anticipated to grow at the fastest rate in the coming years due to the rise in R&D investments, and increasing government initiatives. Additionally, presence of major players and is also fuels the growth of the market.
Based on type, the microfluidics market is segmented into microfluidic chips, microfluidic sensors, micropumps, microneedles, devices and other products. The devices segment accounted for more than 46.34% of the market share in 2019. In terms of materials, the microfluidics market is segmented into PDMS, polymers, glass, silicon and others. The PDMS segment held the largest share of the market in 2019. In terms of Application, the microfluidics market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications. The In-vitro diagnostics segment held the largest share of the market in 2019.
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Rising Demand for Microfluidics Technologies in Point-Of-Care Testing microfluidics market Growth:
Microfluidic technologies are evolving into offering a great range of applications. In a few years, it has emerged as a promising application in Point of Care (POC) testing for disease diagnosis. POC tests have the potential to improve disease diagnosis ranging from early disease detection, easier monitoring, and increased personalization. Microfluidics offers a wide range of benefits to POC diagnostics such as faster turnaround times, smaller sample volumes, and lesser test costs. These benefits are increasingly being utilized for the development of diagnosis and detection POC devices for a variety of conditions such as cancer and infectious diseases. For instance, the Laboratory of Integrated Bio-Medical/Nanotechnology & Applications (LIBNA) designed a microfluidic point-of-care sepsis chip. This chip can quantify white blood cell counts and CD64 expression levels on neutrophils in 30 minutes. Sepsis is a life-threatening complication and has the highest burden of death and medical expenses worldwide. As per the Sepsis Alliance, it affects over 30 million people and causes 8 million deaths, including each year worldwide. Additionally, the researchers at Columbia University School of Engineering and Applied Science has developed mChip-Ld, for the early diagnosis of Lyme disease. With cases of Lyme disease on the rise, and a lack of highly specific clinical manifestations, rapid detection of the disease is crucial. As per the Centers for Disease Control and Prevention (CDC), around 300,000 cases, Lyme disease occur every year in the US.
The major benefits of the POC devices include rapid response, cost-effectiveness, portability, and non-requirement of any specific equipment. Hence, the integration of microfluidics that has advanced the improvisation of POC diagnostics, thereby driving the growth of the microfluidics market in the forecast period.
In terms of type, devices segment is anticipated to register the highest CAGR during the forecast period. Microfluidic devices have great potential to synthesize nanoparticles and nanocomposites, due to the efficient heat and mass transfers and spatial limitations in microfluidic devices, convenient parameter adjustments, and in situ process monitoring in microreactors. The microfluidic devices used for the biomedical applications such as, single-cell trapping and automated micro-robotic injection and drug discovery and analysis In terms of materials, the microfluidics market is segmented into PDMS, polymers, glass, silicon and others. The PDMS segment held the largest share of the market in 2019.In terms of Application, the microfluidics market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications. The In-vitro diagnostics segment held the largest share of the market in 2019.
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The COVID-19 outbreak has disturbed various trades and businesses across the world.Coronavirus diagnostic with microfluidics is one option that's gained a lot of attention. For instance, US-based researchers from Broad Institute have developed a CRISPR-based molecular diagnostics stage with the help of microfluidics chips to detect viruses in human samples. This single chip has the potential to detect a single virus in more than 1,000 samples at a time. Additionally, it can search a smaller number of samples for more than 160 different viruses, including SARS-CoV-2, the virus accountable for the COVID-19 pandemic. Furthermore, many organizations are contributing their efforts to the detection of COVID-19; for instance, SkyWater Technology and SEMI-Fab Owners Alliance are on the front lines in providing a necessary microfluidic MEMS component used in COVID-19 testing and research to identify mutations of the virus. US-based SkyWater has been working with genomics sequencing leader MGI to supply a component used in an ultra-high-throughput sequencing system, namely, MGI's DNBSEQ-T7. Therefore, a growing number of research activities for diagnosis is likely to increase the demand for microfluidics; hence it can boost the growth of the microfluidics market.
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