Microfluidics Market

SKU: DMICT849 | Last Updated On: Oct 17 2022 | Available Formats

>Microfluidics Market Expected to reach a high CAGR of 13.5% by 2029:

Microfluidics Market is segmented By Material Type (Silicon-Based Microfluidic, Glass-Based Microfluidic, Polymer-based microfluidic, Others), By Component (Microfluidic Chips, Micro Pumps, Microneedles, Others), By Application (In-vitro Diagnostics, Drug Delivery Devices, Monitoring Devices, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis,  2022-2029

Microfluidics Market is expected to grow at a high CAGR of 13.5% during the forecasting period (2022-2029).

Microfluidics is the science of manipulating and controlling fluids, usually in the range of microliters (10-6) to picoliters (10-12), in networks of channels with dimensions from tens to hundreds of micrometers. Active microfluidics is a fluid handling device made by active components as microfluidic pumps or microfluidic valves. Microfluidic pumps continuously supply fluids or are used for dosing whereas the microfluidic valves can inject precise volumes of sample or buffer.. Microfluidics is often used in the lab on a chip and organ on chip technology. It is also applicable to a wide range of applications, such as; Cosmetics, Pharmaceuticals, personalized medicine & diagnosis, flow synthesis & stoichiometry, cell culture, and 3D printing, and EOR models plasma confinement.

Microfluidics Market

Metrics

Details

Market CAGR

13.5%

Segments Covered

By Material Type, By Component, By Application, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

Microfluidics improves the precision of experiments; it provides lower limits of detection, and runs multiple analyses simultaneously.

Market Dynamics:

  • The rising prevalence of chronic diseases is one of the factors fueling the global Microfluidics market.

  • The increasing incidence of chronic diseases, with advancements in coagulation tests, blood gas electrolytes, hematology, urine chemistry, and cardiac markers, are creating new opportunities for the growth of the POC diagnostics, which is expected to support the growth of the microfluidics market.

  • According to National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), chronic diseases account for more than 75%, 6 IN 10 Adults in the US have a chronic illness, and 4 IN 10 Adults in the US have two or more chronic diseases.

  • Chronic disease is the leading cause of death and disability which have cost USD 3.3 Trillion in Annual Health Care Costs in the U.S each year.

  • According to WHO, in 2017, 30.3 million US adults have diabetes. Diabetes is the seventh leading cause of death in the United States.

  • Around 630,000 Americans die from heart disease each year. Coronary heart disease is the most common type of heart disease, killing about 366,000 people in 2015.

Market Segmentation:

  • Based on the component the global market for Microfluidics is broadly segmented as by microfluidic chips, micropumps, microneedles, and others.

  • Currently, microfluidic chips are the dominant segment, and it accounts for approximately XX% of the market, due to the launch of new products and research study on microfluidic chips.

  • For instance, in May 2018, Imec, the world-leading research and innovation hub in nano-electronics and digital technologies, have introduced a novel organ-on-chip platform for pharmacological studies with unique signal quality.

  • It is developed in collaboration with Micronet Microtechnologies, in which cells can be cultured, providing an environment that mimics human physiology.

  • In March 2017, Zeon Corporation has introduced a prototype service using transparent thermoplastic cyclo-olefin polymers for the production of microfluidic chips and other crucial, high-demand medical products.

  • In April 2016, researchers from Hong Kong Polytechnic University and Zhejiang University in China reported integrating fiber optic glucose sensors into a microfluidic chip to create portable, high-performance, low-cost devices for measuring glucose levels.

Geographical Share:

  • The global microfluidics market is segmented into North America, Europe, Asia Pacific, South America, and ROW.

  • North America is dominating the global microfluidics market, due to the launch of new products and strategic collaboration, which is fueling the market growth.

  • For instance, in January 2019, L’Oréal has introduced the first wearable microfluidic sensor and companion app to easily measure personal skin pH levels and create customized product regimens to better care for the skin. The sensor was co-developed with L’Oréal’s skincare brand La Roche-Posay.

  • In February 2018, a researcher from Northwestern University had collaborated with a large collection of partners including Gatorade, the Seattle Mariners, the U.S. Air Force, and the Shirley Ryan AbilityLab to bring his wearable microfluidic sweat analytics system into widespread distribution. The device measures sweat and sweat biomarkers accurately and in real-time, allowing athletes, military personnel, fitness pros, and others to monitor sweat rate and electrolyte loss.

Competitive Trends:

  • The strategic alliance between companies and research organizations for microfluidics is one of the critical factors driving the global microfluidics market.

  • For instance, in December 2017, IDEX Health & Science, LLC have acquired thinXXS Microtechnology, a leader in the development and production of plastic microfluidic consumables serving the Life Sciences, Point of Care, and Veterinary markets.

  • This acquisition will accelerate the growth of its microfluidics consumables business.

  • In November 2018, The University of Toronto had partnered with Canada’s National Research Council to create a national innovation hub focused on microfluidics, a field in which tiny amounts of fluid are manipulated in small-scale devices to develop everything from portable diagnostic “labs” to repair kits for human organs.

Frequently Asked Questions

What is the Projected CAGR value of the Microfluidics Market?

Microfluidics Market is expected to grow at a CAGR of 13.5% during the forecasting period 2022-2029.

Which region controlled the global market during 2022-2029?

North America region Controls the Microfluidics Market during 2022-2029.

Which is the fastest growing region in the Microfluidics Market?

Among all regions, Asia Pacific is the fastest growing market share during the forecast period.

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