Microfluidics Market: Segments, Overview, and Emerging Trends 2024-2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Microfluidics Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $15.59 billion In 2028 At A CAGR Of 14.4% :

The microfluidics market size has grown rapidly in recent years. It will grow from $8.01 billion in 2023 to $9.11 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased incidences of chronic diseases, increased number of new infections and deaths due to coronavirus disease, increased healthcare expenditure.

The microfluidics market size is expected to see rapid growth in the next few years. It will grow to $15.59 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to rising demand for point-of-care testing in the healthcare industry, increasing need of microfluidics and an increased number of clinical studies for cell-based therapies . Major trends in the forecast period include use of white blood cell isolation technology, product innovations, adoption of digital microfluidics platform, use of 3d printing in microfluidics, technological advancements, use of invitro diagnostics tests and strategic partnerships and collaborations.

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Microfluidics Market Major Segments
The microfluidics market covered in this report is segmented -

1) By Material: Silicon-Based Microfluidics, Glass-Based Microfluidics, Polymer-Based Microfluidics
2) By Application: Industrial & Environmental, Drug Delivery, Pharmaceutical & Life Science Research, Analysis, Clinical & Veterinary Diagnostics

Key Driver - Rising Demand For Point-Of-Care Testing Fuels Growth In The Microfluidics Market

The rising demand for advanced and better point-of-care testing in the healthcare industry is driving the microfluidics market. Point-of-care testing (POCT) allows doctors to identify and diagnose illnesses at or near the patient's location faster than traditional lab testing. The microfluidics-based POC devices are portable and low-cost devices that are very precise and rapid. Countries across the globe are increasingly investing in POC testing capabilities to provide hassle-free testing services to the country's residents, which is expected to boost demand for innovative microfluidics that are used in POC testing devices. In November 2021, the US Department of Health and Human Services (HHS) invested $650 million from the American Rescue Plan to boost manufacturing capacity for rapid point-of-care molecular tests for rapid and high-quality diagnostic testing. Therefore, the rising demand for point-of-care testing is expected to boost demand for microfluidics during the forecast period.

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Prominent Trend - Innovative Product Developments Propel Rapid Expansion Of The Microfluidics Market

Product innovations are contributing to the rapid growth of the microfluidics market. The companies operating in the microfluidics sector are developing innovative products to meet fast-growing industry demand and strengthen their market position. For instance, In March 2022, Miroculus, Inc., a California-based developer of personal lab automation solutions launched Micro Canvas, a digital microfluidics platform designed to automate complex next-generation sequencing platforms.

Microfluidics Market Players
Major companies operating in the microfluidics market report are Thermo Fisher Scientific, Agilent Technologies, Illumina Inc, Bio-Rad Laboratories, Fluidigm Corporation, Dolomite Microfluidics, PerkinElmer, Inc., Biosurfit SA, Sphere Fluidics Limited, Micronit Micro Technologies B.V., Parker Hannifin Corp., Fluigent, Camozzi, Gems Sensors, Inc., Aignep S.P.A., SMC Corporation, Cellix Ltd, Elveflow, Microliquid, S.L., Danaher Corporation, BD, Absolute Ozone, FlowJEM, uFluidix, QuantWave Technologies Inc., Shelron Enterprises, Harvard Bioscience, Inc., Abaxis, Inc., OPKO Health, Inc., IDEX Health & Science LLC, Stämm, The Advanced Microfluidics and Microdevices Laboratory, Chromatotec Group, Abbott, Safarmex PTY Ltd

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Largest And Fastest Growing Region In The Market
North America was the largest region in the microfluidics market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the microfluidics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Microfluidics Market Report Structure
3. Microfluidics Market Trends And Strategies
4. Microfluidics Market - Macro Economic Scenario
5. Microfluidics Market Size And Growth
…..
27. Microfluidics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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