Microfluidics Market Growing at a CAGR of 23.2% by 2026| Parker Hannifin Corporation, SMC Corporation, IDEX Corporation, Fluigent SA

Microfluidics Market report delivers the systematic and comprehensive market research study, along with the facts and figures associated with any subject in the field of marketing. This report has a lot of features to offer about the Medical Devices industry such as the general market conditions, trends, inclinations, key players, opportunities, and geographical analysis. These and such other parameters help to take the business towards escalation and success. Microfluidics Market report has been framed with the most excellent and superior tools of collecting, recording, estimating, and analyzing market data.

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The global microfluidics market is projected to reach USD 58.8 billion by 2026 from USD 20.7 billion in 2021, growing at a CAGR of 23.2% during the forecast period.

Key players in the Microfluidics market

Parker Hannifin Corporation (US), SMC Corporation (Japan), IDEX Corporation (US), Fluigent SA (France), Aignep S.P.A. (Italy), Camozzi Automation SPA Societá Unipersonale (Italy), Dolomite microfluidics (UK), Elveflow (France), Cellix Limited (Ireland), Fortive Corporation (US), Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), PerkinElmer, Inc. (US), Agilent Technologies, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), Illumina Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Fluidigm Corporation (US) and Abbott Laboratories (US).

Break of primary participants was as mentioned below:

By Company Type – Tier 1–60%, Tier 2–30%, and Tier 3–10%
By Designation – C-level–30%, Director-level–50%, Others–20%
By Region – North America–45%, Europe–15%, Asia Pacific–25%, Latin America- 10%, Middle East and Africa–5%

Microfluidic technologies offer quick analysis, reduced reagent consumption, and accurate test results and help in reducing the overall cost of the drug development process. In addition to these factors, the demand for microfluidics technology is increasing owing to the growing demand and adoption of PoC diagnostic devices, such as glucose monitoring and pregnancy test kits.

Based on product, the microfluidic-based devices segment holds the highest rate during the forecast period.

Based on product, the microfluidics market is broadly classified into microfluidic-based devices and microfluidic components. In 2020, the microfluidic-based devices segment accounted for the highest rate of the microfluidics market by product. The highest rate of this segment can majorly be attributed to the increasing adoption of technologically advanced microfluidic-based devices in pharmaceutical & life science research, increasing need for miniaturization of laboratory equipment, growing demand for microfluidic-based PoC testing, and the increasing use of microfluidic technology for drug discovery.

Based on type of product, the microfluidic chips segment holds the highest rate during the forecast period.

The microfluidic components market, by type, is segmented into microfluidic chips, flow and pressure sensors, flow and pressure controllers, micropumps, microfluidic valves, microneedles, and other microfluidic components.

Based on application, the in vitro diagnostics segment holds the highest share during the forecast period.

In this report, the microfluidics market is broadly classified into three major application segments—in vitro diagnostics, pharmaceutical & life science research and manufacturing, and therapeutics.

Based on in vitro diagnostics applications, the clinical diagnostic segment holds the highest share during the forecast period.

The in vitro diagnostics applications segment has been segmented into point-of-care testing, clinical diagnostics, and veterinary diagnostics. The clinical diagnostic testing segment accounted for the largest share of the IVD application segment in 2020, owing to the prevalence of infectious and lifestyle diseases, increased clinical testing due to the COVID-19 pandemic, and the introduction of technologically advanced products.

APAC is expected to grow at the highest rate in 2020

APAC is expected to grow at the highest rate of 25.5% in the forecast year. The rising geriatric population, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for advanced technologies, and expansion of private-sector hospitals to rural areas in various countries in the Asia Pacific are the major factors driving the growth of the microfluidics market in this region.

Reasons to Buy the Report

The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn would help them, garner a more significant share of the market. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights into the following pointers:

Market Penetration: Comprehensive information on product portfolios offered by the top players in the global microfluidics market. The report analyzes this market by product type, application, end user and region

Product Enhancement/Innovation: Detailed insights on upcoming trends and product launches in the global microfluidics market

Market Development: Comprehensive information on the lucrative emerging markets by product type, application, end user and region

Market Diversification: Exhaustive information about new products or product enhancements, growing geographies, recent developments, and investments in the global microfluidics market

Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, competitive leadership mapping, and capabilities of leading players in the global microfluidics market.

This Microfluidics Market report potentially offers plentiful insights and business solutions that will lend a hand to win the competition. The report supports establishing and optimize each stage in the lifecycle of an industrial process that includes engagement, acquisition, retention, and monetization. It has the most detailed market segmentation, systematic analysis of major market players, trends in consumer and supply chain dynamics, and insights about new geographical markets. All statistical and numerical information given in the report is symbolized with the help of graphs and charts which facilitates the understanding of facts and figures.

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