Microfluidic Devices Market Global Analysis 2022 to 2027 | Industry Demand, Size, Share, Trend, Key Players Review and Fast Forward Research
Research Reports
Apr 15, 2022
(USA, NY, New York City) The Global Microfluidic Devices Market is expected to grow at CAGR of 19.70% during the forecast period.
Market Synopsis
The global market for microfluidic devices is powered primarily by increased demand for point-of – care research products, microfluidic chip miniaturisation technology and increasing demand for genomics and proteomics. The market ‘s growth is also heavily influenced by growing demand for point-of – care (POCT) research. It is expected that the production and acceptance of these clinical experiments will boost the market for microfluidic instruments. Stringent government policies, however, can delay the market’s expansion. During the forecast period, factors such as an improvement in point of care research, treatment quality, increasing commercial and analytical use of microfluidic products for chip miniaturisation development improve the demand for microfluidic devices.
On the flip side, policymakers’ imposition of legislation on the sector will serve as a competition deterrent.
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Key Players
The prominent players in the global microfluidic devices market are Abbott Laboratories, F. HOFFMANN-LA ROCHE AG, Agilent Technologies, Inc., Siemens, Fluidigm, BIO-RAD LABORATORIES, INC., CEPHEID, RainDance Technologies, Inc., Dolomite Microfluidics, Micronit Microtechnologies, Johnson & Johnson Services, Inc., BD, Elveflow, Perkinelmer Inc., Thermo Fisher Scientific Inc., and BioMérieux.
Segmental Analysis
The global market for microfluidic instruments has been segmented into in vitro diagnostics, pharmaceuticals , medical devices, and others, depending on industry. The pharmaceutical section comprises lab analytics chips, precise dispensing instruments, and drug synthesis micro-reactors. Micro-pumps and dispensing units, inhalers, micro-needles, and others are part of the medical equipment section.
The leading category with a 50.6 percent stake in 2018 is in-vitro diagnostics. The growing need for early detection is due to the vast market share of in-vitro diagnostics. In an experimental world, IVD experiments are carried out outside the human body by using samples such as blood, saliva, and tissue for examination.
By substrate, the global demand for microfluidic devices has been segmented into polymers, glass, silicon, and others. The polymer segment accounts for the material ‘s substantial share in the global demand for microfluidic products. Compared to silicon and glass, polymers are cheaper materials and make for rapid manufacturing processes.
The market was divided into medicinal and life science trials, clinical and veterinary diagnostics, point of care diagnostics, analytical instruments, medication distribution, environmental and manufacturing, and others, depending on the use.
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Regional Analysis
The global demand for microfluidic instruments has been largely divided into the Americas, Europe , the Middle East & Africa , and Asia-Pacific.
Because of the the geriatric population , increasing healthcare consciousness, the chronic and lifestyle diseases, and technical advances for different home use applications and more comprehensive insurance service services, the Americas dominate the global demand for microfluidic devices, pushing the growth of microfluidic devices.
Western Europe and Eastern Europe have been segmented into the European microfluidic devices industry. In 2018, Europe was projected to rank second in the global demand for microfluidic instruments. The development of the European market for microfluidic devices will be supported by technical developments and the the presence of market participants. For example, Dolomite Bio, a UK-based corporation, introduced the game-changing single-cell Nadia platform, providing an innovative approach for a wide variety of possible applications to the rapidly growing single-cell research market.
During the forecast period, Asia-Pacific is predicted to record the highest CAGR. In this area, companies are launching new, technologically innovative products that are boosting the Asia-Pacific demand for microfluidic devices. Samsung launched a portable all-in-one chip for health data tracking and analysis in 2016.
On the other hand, due to low economic growth , especially within the African region, the Middle East & Africa account for the least share in the global market for microfluidic devices.
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