Pune, India, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Microfluidics involves processing or manipulation of small amount of fluidics. It studies various systems that can process small quantities of fluids by using tiny channels having dimensions in micrometers. Microfluidics is an emerging technology having a wide range of applications in biology, chemistry, optics and information technology. This technology is widely used for various processes such as capillary electrophoresis, sample injection in mass spectrometry, immunoassays, flow cytometry, DNA analysis, separation and manipulation of cells, PCR amplification, among others. Additionally, microfluidics is also used in the diagnosis of diseases such as cancer and research.
According to our new research study on “Microfluidics Market Forecast to 2027 - Geography Analysis by Product, Material, Application, and Geography,” the microfluidics market size is expected to reach $43.39 billion in 2027 from $11.85 billion in 2019; it is estimated to grow at a CAGR of 17.9% from 2029 to 2027. The growth of the microfluidics market is attributed to the rising demand for microfluidics technologies in point-of-care testing, and innovation in microfluidics product portfolio. However, the factors restraining the market growth is lower adoption in emerging economies.
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Global Microfluidics Market: Competitive 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 the microfluidics companies operating in the market. These players focus on expanding and diversifying their market presence and acquiring a novel customer base, tapping prevailing business opportunities in the microfluidics market. Many market players are launching innovative products with advanced features in the microfluidics market.
In October 2022, Standard BioTools Inc., announced the launch of the X9 Real-Time PCR System, an innovative high-capacity genomics instrument offering superior efficiency. X9 enables high data output with more than 9,000 individual nanoliter-volume reactions in a single run, ensuring cost-effective, comprehensive sample profiling with minimal operator contribution.
Rising Demand for Microfluidics Technologies in Point-Of-Care Testing is Boosting the Demand for Global 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.
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Global Microfluidics Market: Segmental Overview
The “Global Microfluidics Market” is segmented based on product, material, application, and geography. Based on product, the microfluidics market is segmented into microfluidic chips, microfluidic sensors, micropumps, microneedles, devices and other products. The devices segment held the largest share of the market in 2019. Based on material, the microfluidics market is segmented PDMS, polymers, glass, silicon and others. The PDMS segment held the largest share of the market in 2019. Based on application, the microfluidics market is divided into 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.
Go through further research published by The Insight Partners:
Microfluidic Immunoassay Market - Global Analysis and Forecast to 2030
Microfluidic Systems Market - Global Analysis and Forecast to 2030
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