The Microfluidic Immunoassay Market Set to Surpass $1.47 Billion by 2030-Exclusive Insights by Meticulous Research®

[Redding, California, 12-03-2024] - Meticulous Research®, a premier provider of insightful market intelligence, has unveiled its latest report titled, "Microfluidic Immunoassay Market: Product, Technology, Application, End User, and Global Forecast to 2030." The report reveals a promising projection, estimating the microfluidic immunoassay market to reach a valuation of $1.47 billion by 2030, exhibiting a commendable CAGR of 7.4% from 2023 to 2030.

Understanding Microfluidic Immunoassay:

Microfluidic immunoassay, also known as lab-on-a-chip, entails the miniaturization of conventional laboratory operations, encompassing reagent loading, reaction, separation, and detection on a microchip. This innovative approach addresses the limitations of traditional immunoassays, offering enhanced sensitivity, portability, accuracy, and rapid results in clinical diagnostics.

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Market Dynamics:

The growth of the microfluidic immunoassay market is propelled by various factors, including its increasing adoption in drug discovery & development and biomarker detection, advantages over conventional immunoassays, growing focus of pharmaceutical & biotechnology companies on research & development, and the miniaturization of biological and chemical assays. However, challenges such as bubble formation and dead volume in microfluidic devices persist.

Driving Force:

The benefits of microfluidic immunoassays over traditional methods are compelling. These assays eliminate the need for large, expensive equipment and skilled professionals, offering rapid and precise results. The integration of microelectromechanical systems (MEMS) and micro total analysis systems (μTAS) has revolutionized disease diagnosis, making it more efficient and accessible.

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Key Players:

Leading participants in the global microfluidic immunoassay market include Becton, Dickinson and Company, Revvity, Inc., Abbott Laboratories, Siemens Healthineers AG, Nanomix Corporation, Micropoint Biotechnologies Co., Ltd., Biosurfit SA, Koninklijke Philips N.V., NanoEnTek Inc., and QuidelOrtho Corporation.

Market Segmentation:

The report offers a comprehensive assessment of the microfluidic immunoassay market based on product, technology, application, end user, and geography.

Scope of the Report:

Product: Consumables (Cartridges, Reagents) and Systems

Technology: Electrochemical Detection and Optical Detection

Application: Cardiology, Infectious Diseases, Oncology, and Others

End User: Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, Hospitals, and Others

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Geography: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Key Insights:

The consumables segment, particularly cartridges, is expected to dominate the market, driven by user-friendly diagnostic kits and new product developments.

Electrochemical detection is anticipated to witness the highest growth, attributed to its versatility and ability to load multiple reagents simultaneously.

North America is poised to lead the market, fueled by high R&D expenditure and a robust healthcare infrastructure.

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This release was published on openPR.