Press release
Microfluidic Device Market Growth Statistics, Size, Share, Key Players, and Forecast 2032
According to Report Ocean , the global market is witnessing a significant rise in revenue from US$ million in 2023 to US$ million by 2032. The market will grow at a significant compound annual growth rate (CAGR) of % during the forecast period from 2023 to 2032.
Introduction
In 2021, the global microfluidic device market showcased its prowess with a valuation of US$ 21.7 billion. Embarking on a transformative journey, market projections indicate an impressive ascent to reach US$ 133.8 billion by 2030. This forecast signifies a robust Compound Annual Growth Rate (CAGR) of 22.4% during the forecast period from 2022 to 2030.
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Defining Microfluidic Devices
Mastering the Microscopic Realm
Microfluidic instruments manipulate the chemical and physical properties of gases and liquids at the microscopic scale, offering a myriad of advantages over conventional systems. These devices facilitate the examination and utilization of minimal volumes of chemicals, samples, and reagents, thereby reducing overall application costs. They find applications in diverse processes such as isoelectric focusing, capillary electrophoresis, flow cytometry, immunoassays, DNA analysis, PCR amplification, and more.
Factors Influencing Market Growth
Driving Forces and Accelerators
Rise in Chronic and Contagious Diseases: The surge in chronic and contagious diseases acts as a catalyst for overall market growth.
Growing Geriatric Population: The increasing geriatric population contributes to the expansion of the market.
Manufacturer Interest and R&D: Manufacturers and developers' growing interest in the production of microfluidic devices propels market growth.
Research and Development Activity: Increased research and development activities for enhancing microfluidic devices, coupled with new product launches and approvals, drive overall market growth.
Effect of the COVID-19 Pandemic
Navigating Challenges and Opportunities
The COVID-19 pandemic has had a positive impact on the infectious disease diagnostic market, with microfluidics machines serving as crucial research tools for diagnosing communicable diseases. This factor has propelled overall market growth during the pandemic.
Regional Insights
North America Takes the Lead
North America claimed a significant share in overall market growth in 2021 and is poised to lead the market during the period from 2022 to 2030. Factors contributing to this leadership position include a surge in product launches, well-established healthcare infrastructure, and the presence of key industry players.
Asia-Pacific's Substantial Growth
Asia-Pacific is anticipated to record substantial growth, driven by an increase in healthcare investments, expansion of healthcare infrastructure, and a growing population base.
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Leading Competitors
Driving Innovation in Microfluidics
Key players steering the global microfluidic device market include:
Nortis Inc
Nanostring
Agilent Technologies
Idex Corporation
Fortive Corporation
Danaher Corporation
Abbott Laboratories
Dolomite Microfluidics
Fluidigm Corporation
Lonza Group
Others (Note: List not exhaustive; request a free sample for a complete list.)
Segmentation Analysis
Navigating the Diverse Applications
Product:
Microfluidic-based Devices
Microfluidic Components
Microfluidic Chips
Flow & Pressure Sensors
Flow & Pressure Controllers
Microfluidic Valves
Micropumps
Microneedles
Other Components
Application:
In-vitro Diagnostics
Clinical Diagnostics
Point-of-care Testing
Veterinary Diagnostics
Pharmaceutical & Life Science Research and Manufacturing
Lab Analytics
Microdispensing
Micro reaction
Therapeutics
Drug Delivery
Wearable Devices
End User:
Pharmaceutical & Biotechnology Companies
Hospitals & Diagnostic Centers
Academic & Research Institutes
Regional Segmentation:
North America
Europe
Asia Pacific
Middle East & Africa (MEA)
South America
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Table of Contents:
Report Overview
Global Growth Trends
Competition Landscape by Key Players
Data Segments
North America Market Analysis
Europe Market Analysis
Asia-Pacific Market Analysis
Latin America Market Analysis
Middle East & Africa Market Analysis
Key Players Profiles Market Analysis
Analysts Viewpoints/Conclusions
Appendix
Key Reasons to Purchase this Report:
Strategic Direction
Comprehensive Analysis
Growth Opportunities
Competitive Landscape
Detailed Company Profiles
Future Market Outlook
Industry Analysis
Value Chain Insights
About Report Ocean
Report Ocean is a renowned market research reports provider, known for its informative research reports. They offer both quantitative and qualitative research results, leveraging the latest technology and analysis tools. Their global network and industry coverage provide in-depth knowledge for informed and strategic business decisions
Contact Report Ocean:
Email: sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 - UNITED STATES
Tel: +1 888 212 3539 (US - TOLL FREE)
Website: https://reportocean.us
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