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Microfluidics Global Market Report 2022

·4-min read

Major players in the microfluidics market are Illumina, Inc. , PerkinElmer, Inc. , Agilent Technologies, Inc. , Abbott Laboratories, Thermo Fisher Scientific, Qiagen, Elveflow, Cellix Ltd. , Fluidigm Corporation, Fluigent SA, Zeon Corporation, Innovative Biochips, LLC, Dolomite Microfluidics, Idex Corporation, and UFluidix.

New York, Sept. 22, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Microfluidics Global Market Report 2022" -

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 microfluidics market consists of the sales of microfluidics solutions and services by entities (organizations, partnerships, and sole proprietors) that refer to devices that perform chemical analysis on small amounts of liquid, such as a droplet (blood).Microfluidic devices comprise microchannels ranging from a few microns to several millimetres, and they operate using a pump and a chip.

Microfluidics based devices evolved as an alternative to conventional laboratory techniques, as it has the potential to carry out complete laboratory protocols on a single small chip.

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 microfluidics market research report is one of a series of new reports that provides microfluidics market statistics, including microfluidics industry global market size, regional shares, competitors with a microfluidics market share, detailed microfluidics market segments, market trends and opportunities, and any further data you may need to thrive in the microfluidics industry. This microfluidics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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. Toolbox Medical Innovations is a California-based company that focuses on in vitro diagnostics and develops and produces life science and diagnostic devices (IVD). Wi Inc., a US-based company, designs and manufactures services that are primarily focused on the commercialization of in-vitro diagnostic microfluidic disposable cartridges and instruments and a variety of therapeutic and other medical devices. microLIQUID, a Spain-based contract developer and manufacturing company, specializes in polymer microfluidic disposable devices.

The countries covered in the microfluidics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
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