Pune, Jan. 10, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research is a leading market research company that has published a report on the “Microfluidics Market”. The report includes key business insights, demand analysis, pricing analysis, competitive landscape, and benchmarking of key market players. The report is beneficial for the industry investors, market players, and stakeholders to plan, and develop key business strategies to maintain their market presence in the global market. According to the analysis, The Microfluidics market size reached USD 20.98 billion in 2021 and is expected to reach USD 74.68 billion by 2029, growing at a CAGR of 17.2 % during the forecast period.
Microfluidics Market Report Scope and Research Methodology
The Microfluidics market report emphasizes the industry's general dynamics, potential market, constraints, current market trends, and market restrictions, allowing users to identify business opportunities and market strategies to increase their global industry presence. The Microfluidics Market report estimates the revenue growth of the key players at the global and national levels, as well as an analysis of the most recent market trends in each sub-segment throughout the forecast period. The global Microfluidics Market report has been segmented based on Component, Deployment Mode, Organization Size, End-User, and Region by MMR analysis to provide a conclusion analysis of the market players.
The Microfluidics market report includes strategic profiling of the market's top major players, as well as a comprehensive analysis of their core competencies and business strategies such as new product launches, growths, agreements, joint ventures, partnerships, and acquisitions. MMR analysts may also deliver data as excel files and pivot tables to their customers, as well as aid them in generating presentations using the data sets included in the report. For market estimation and forecasting, the bottom-up strategy is applied. Data were collected from a wide sample using both primary and secondary research approaches to validate the findings. The MMR research also includes industry recommendations based on a thorough examination of the present competitive landscape in the Microfluidics market.
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Microfluidics Market Overview
Microfluidics is a technique that provides a powerful toolbox for manipulating fluid samples, suspended cells, and particles. In recent years, the usage of microfluidics in industries such as pharmaceuticals and healthcare has increased. In terms of accuracy, sensitivity, and specificity, these Microfluidics devices outperform established diagnostic approaches. It is suitable for point-of-care (POC) testing, which is a significant driver of the Microfluidics industry.
Microfluidics Market Dynamics
Global demand for vaccines has witnessed the soind demand of growth of more than25% annually in last two years. The advent of new viruses such as Ebola and the current COVID-19 pandemic has resulted in more demand and increased pressure to reduce development time and cost. Microfluidic technology has the key to reducing lead times, enhancing efficiency and quality, and lowering development costs. Microfluidic tools can be used at all stages of the development and production cycle from disease analysis to optimization of production protocols, from high throughput antibody screening to vaccine encapsulation, and from adjuvant development to directed evolution of the yeast and bacteria used in vaccine bio manufacturing. DNA vaccines deliver to the patient a specific viral gene in order to generate an immune response.
The major impediment to mass production is the high cost of R&D and the manufacture of microfluidic devices. The Food and Medication Administration (FDA) licensing method for medical devices, for example, has a substantial influence on drug delivery, In-vitro Diagnostics (IVD), and pharmaceutical industries. Additionally, product profitability suffers as a result of uncertainty in the clearance procedure. Certain emerging and low-income economies have limited access to high-tech healthcare. Other factors that are anticipated to restrict the growth of the Microfluidics market include a lack of awareness about illness prevention, restricted access to healthcare information, and a lack of adequate healthcare services.
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Microfluidics Market Regional Insights:
The Microfluidics market in North America is estimated to increase over the forecast period. The creation of novel microfluidic devices by research institutes is anticipated to preserve regional supremacy in the global market. The United States emerged as a substantial contributor to the domination of the area. Aside from well-established organizations, the country is home to a number of emerging microfluidics startups.
In 2021, the Asia Pacific market had a small revenue share. Rising demand from the biomedical and pharmaceutical sectors, as well as PoCT, increased chronic illness prevalence, and rising R&D investments, notably in Singapore, are some of the key drivers driving Microfluidics market growth.
| Market Size in 2021 | USD 20.98 Billion. |
| Market Size in 2029 | USD 74.68 Billion. |
| CAGR | 17.2% (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 200 |
| No. of Tables | 125 |
| No. of Charts and Figures | 140 |
| Segment Covered | Product Type, Application, Material, and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Microfluidics Market Key Competitors include:
- PerkinElmer Inc.
- Standard BioTools (Previously Fluidigm)
- Blacktrace Holdings Ltd. (Dolomite Microfluidic)
- Micronit
- BioFluidix Gmbh
- Fluigent
- ALine Inc.
- Philips
- Danaher Corporation
- Thermo Fisher Scientific
- Agilent Technologies
- Becton, Dickinson, and Company
- Illumina, Inc.
- Abbott Laboratories
- Quidel Corporation
- Abaxis, Inc.
- Covalent Materials, Inc.
- Biosurfit SA
- Micropoint Bioscience, Inc.
- Siloam Biosciences, Inc.
- NanoEnTek Inc.
- OPKO Health, Inc.
Key questions answered in the Microfluidics Market are:
- What is Microfluidics?
- What is the growth rate of the Microfluidics Market?
- Who are the key players in the Microfluidics Market and what is their market share?
- Which segment is expected to hold the highest market share in the Microfluidics Market?
- What are the market drivers for Microfluidics Market by region?
- What are the restraining factors for the Microfluidics Market growth?
- Who held the largest market share in Microfluidics Market in 2022?
- What are the opportunities for the Microfluidics Market?
- What are the strategies used by companies in the Microfluidics Market?
- What are the growth prospects in developing countries for the Microfluidics Market?
- Which segment is expected to witness the fastest growth and why in the Microfluidics Market?
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Maximize Market Research is leading Healthcare research firm, has also published the
following reports:
Microfluidics Device Market: Microfluidics Device Market was valued at USD 20.71 Billion in
2021 and is expected to reach USD 108.33 Billion at a CAGR of 22.97% during the forecast
period 2029. The increased demand for POC testing and the benefits associated with the
incorporation of microfluidics across different industries are expected to drive market
growth.
Paper Diagnostic Market: Paper Diagnostic Market was valued at USD 7.57 Billion and is
expected to reach USD 14.54 Billion by the year 2029 at a CAGR of 8.50% during the forecast
period. The driving factors boosting the paper diagnostic market are wider availability,
economic, easily engineered, biodegradable, combustible, biocompatible, sterilizable,
hydrophilic, easy to functionalize, and process into diagnostic devices.
Polymeric Nanoparticles Market: Polymeric Nanoparticles Market size was valued at USD
610.40 Million in 2021 and the total revenue is expected to grow at a CAGR of 10.6% from
2022 to 2029, reaching nearly USD 1,366.64 Million. The usage of polymeric nanoparticles
for the manufacturing of electronic goods like screens, laptops, and smartphones, among
other items, as well as increased disposable income among the population are some of the
major drivers expected to boost market revenue growth.
In-Vitro Diagnostics Market: The In-Vitro Diagnostics Market size was valued at USD 98.5
Billion in 2021 and the total revenue is expected to grow by 3.41 % from 2022 to 2029,
reaching nearly 128.8 Billion. The development of condition-specific markers and tests, the
increasing importance of companion diagnostics, and point-of-care (POC) tests with
multiplexing capabilities are the factors that are anticipated to provide significant growth
opportunities in the upcoming years.
Dentures Market: Dentures Market size was valued at USD 2.42 Billion in 2021 and the total
Dentures revenue is expected to grow by 7.5 % from 2022 to 2029, reaching nearly USD 4.31
Billion. The growing geriatric population is the primary driver of the dentures market, as
they are more prone to dental diseases such as dry mouth, root canal caries, tooth loss, and
periodontitis.
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