Microfluidic Immunoassay Market to be Worth $1.47 Billion by 2030

Meticulous Research® Sets Industry Standard with New Report: Microfluidic Immunoassay Market Poised to Surpass $1.47 Billion by 2030

[Redding, California]: Meticulous Research®, a globally renowned leader in market research, proudly unveils its latest groundbreaking report titled "Microfluidic Immunoassay Market by Product (Cartridge [Polymer, Glass, Silicon], Reagents, System), Technology (Electrochemical, Optical), Application (Cardiology, Oncology, Infectious Disease), and End User (Pharmaceutical, Hospital) - Global Forecast to 2030."

According to the comprehensive findings of this meticulously curated report, the global microfluidic immunoassay market is projected to reach an impressive value of $1.47 billion by the year 2030, exhibiting a commendable CAGR of 7.4%. This anticipated growth trajectory is underpinned by several key factors, including the escalating utilization of microfluidic immunoassays in crucial domains such as drug discovery & development and biomarker detection.

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Furthermore, the report highlights the myriad advantages offered by lab-on-chip immunoassays over conventional methods, coupled with the burgeoning focus of pharmaceutical & biotechnology companies on research & development initiatives. Additionally, the miniaturization of biological and chemical assays is anticipated to significantly propel market expansion.

However, amidst these promising prospects, challenges persist, notably including issues surrounding bubble formation and dead volume in microfluidics devices.

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In light of the increasing demand for point-of-care diagnostics and recent technological advancements in microfluidic immunoassay technology, the market is poised to witness substantial growth opportunities. Nonetheless, stakeholders must navigate challenges related to substrate material selection for designing microfluidic chips and address product design and cost-related limitations prevalent in developing economies.

Future Outlook

The report provides a comprehensive analysis of industry competitors and their respective market shares at both global and regional levels. It segments the global microfluidic immunoassay market by Product, Technology, Application, End User, and Geography, offering invaluable insights for market players.

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Among the key segments identified, the consumables segment is expected to witness the highest CAGR during the forecast period, driven by continuous advancements in reagents and kits, alongside increasing adoption for disease diagnosis applications.

Furthermore, the electrochemical detection segment is poised to dominate the market in 2023, owing to its adaptability for miniaturization, rapid detection capabilities, and cost-effectiveness.

In terms of applications, the oncology segment is anticipated to register the highest CAGR, attributed to its extensive utilization in research applications such as anti-cancer drug studies and personalized medicine.

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Geographically, Asia-Pacific is positioned for exponential growth, fueled by advancements in healthcare infrastructure, research and development initiatives, and the proliferation of diagnostic laboratories across emerging economies in the region.

Key Players

Leading the charge in this dynamic market landscape are esteemed players including Becton, Dickinson and Company, Revvity, Inc., Abbott Laboratories, Siemens Healthineers AG, Nanomix Corporation, and Micropoint Biotechnologies Co., Ltd., among others.

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This release was published on openPR.