Dublin, Oct. 27, 2022 (GLOBE NEWSWIRE) -- The "Microfluidics Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global microfluidics market is expected to grow from $6.07 billion in 2021 to $6.86 billion in 2022 at a compound annual growth rate (CAGR) of 13.10%. The microfluidics market is expected to grow to $10.79 billion in 2026 at a compound annual growth rate (CAGR) of 11.99%.
The main types of microfluidics include silicone-based microfluidics, glass-based microfluidics, and polymer-based microfluidics. Silicon-based microfluidics refers to micro-manufactured devices used for the chip-scale management of tiny volumes of fluids made by mixing silicon with other materials such as glass, polymers, or other materials. They are used for various applications ranging from industrial or environmental, drug delivery, pharmaceutical & life science research, analysis, and clinical & veterinary diagnostics.
North America was the largest region in the microfluidics market in 2021. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the microfluidics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising demand for advanced and better point-of-care testing in the healthcare industry is driving the microfluidics market. Point-of-care testing (POCT) allows doctors to identify and diagnose illnesses at or near the patient's location faster than traditional lab testing. The microfluidics-based POC devices are portable and low-cost devices that are very precise and rapid. Countries across the globe are increasingly investing in POC testing capabilities to provide hassle-free testing services to the country residents, which is expected to boost demand for innovative microfluidics that are used in POC testing devices.
In November 2021, the US Department of Health and Human Services (HHS) invested $650 million from the American Rescue Plan to boost manufacturing capacity for rapid point-of-care molecular tests for rapid and high-quality diagnostic testing. Therefore, the rising demand for point-of-care testing is expected to boost demand for microfluidics during the forecast period.
Product innovations are contributing to the rapid growth of the microfluidics market. The companies operating in the microfluidics sector are developing innovative products to meet fast-growing industry demand and strengthen their market position. For instance, In March 2022, Miroculus, Inc., a California-based developer of personal lab automation solutions launched Micro Canvas, a digital microfluidics platform designed to automate complex next-generation sequencing platforms.
In September 2021, TE Connectivity, a Switzerland-based company that creates connectors and sensors for various sectors, acquired three life science development and manufacturing firms, Toolbox Medical Innovations, Wi Inc., microLIQUID, for an undisclosed amount. Through this acquisition, TE Connectivity will focus on serving a worldwide customer base spanning from startups to multinationals in life science, IVD, and cell therapy, leveraging the design and production capabilities of all three companies.
Scope
Markets Covered:
1) By Material: Silicon-Based Microfluidics; Glass-Based Microfluidics; Polymer-Based Microfluidics
2) By Application: Industrial & Environmental; Drug Delivery; Pharmaceutical & Life Science Research; Analysis; Clinical & Veterinary Diagnostics
Key Topics Covered:
1. Executive Summary
2. Microfluidics Market Characteristics
3. Microfluidics Market Trends And Strategies
4. Impact Of COVID-19 On Microfluidics
5. Microfluidics Market Size And Growth
6. Microfluidics Market Segmentation
7. Microfluidics Market Regional And Country Analysis
8. Asia-Pacific Microfluidics Market
9. China Microfluidics Market
10. India Microfluidics Market
11. Japan Microfluidics Market
12. Australia Microfluidics Market
13. Indonesia Microfluidics Market
14. South Korea Microfluidics Market
15. Western Europe Microfluidics Market
16. UK Microfluidics Market
17. Germany Microfluidics Market
18. France Microfluidics Market
19. Eastern Europe Microfluidics Market
20. Russia Microfluidics Market
21. North America Microfluidics Market
22. USA Microfluidics Market
23. South America Microfluidics Market
24. Brazil Microfluidics Market
25. Middle East Microfluidics Market
26. Africa Microfluidics Market
27. Microfluidics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Microfluidics Market
29. Microfluidics Market Future Outlook and Potential Analysis
30. Appendix
Companies Mentioned
- Illumina, Inc.
- PerkinElmer, Inc.
- Agilent Technologies, Inc.
- Abbott Laboratories
- Thermo Fisher Scientific
For more information about this report visit https://www.researchandmarkets.com/r/a97xdq
