Microfluidic Devices Market Share, Trends And Analysis 2024-2033

The Business Research Company recently released a comprehensive report on the Global Microfluidic Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The microfluidic devices market size has grown rapidly in recent years. It will grow from $7.63 billion in 2023 to $8.77 billion in 2024 at a compound annual growth rate (CAGR) of 15.0%. The growth in the historic period can be attributed to high growth in demand for point-of-care testing devices, focus on cost reduction is growing, growing usage of 3D printing technology, rising demand in healthcare applications, and government funding for genomics and proteomics research.

The microfluidic devices market size is expected to see rapid growth in the next few years. It will grow to $15.56 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to increasing demand for microfluidic devices across various industries, increase in prevalence of infectious diseases, increasing geriatric population, increase in research and development (R&D) activity for advancements, and increasing application of microfluidics in the novel drug delivery system. Major trends in the forecast period include the introduction of new materials, and techniques, integration of microfluidic devices with artificial intelligence, advancements in biotechnology, integration of microfluidics with smart technologies, and innovations with cost-effective devices.

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Market Drivers and Trends:

The rising prevalence of infectious diseases is expected to propel the growth of the microfluidic devices market going forward. Infectious diseases are disorders caused by pathogenic microorganisms, such as bacteria, viruses, fungi, or parasites. The prevalence of infectious diseases is due to pathogen characteristics, environmental factors, human behavior, and availability of medical services. Microfluidic devices are a powerful tool in the fight against infectious diseases due to their ability to handle and analyze small volumes of biological samples with high precision and efficiency. It enhances the ability to detect, diagnose, and manage infectious diseases efficiently and accurately, contributing to better health outcomes and disease control. For instance, in May 2024, according to the report published by Joint United Nations Programme on HIV/AIDS (UNAIDS), a US-based advocate for accelerated global action on the HIV or AIDS pandemic, around 39 million people were living with HIV or AIDS worldwide in 2022, with approximately 1.3 million new HIV infections reported that year. Therefore, the rising prevalence of infectious diseases drives the growth of the microfluidic devices market.

Major companies operating in the microfluidic devices market are focused on developing innovative platforms, such as microfluidic chip-based platforms, to streamline and automate complex laboratory processes, enhance the precision and efficiency of experiments, and enable a wide range of applications. A microfluidic chip-based platform is a miniaturized device combining multiple laboratory functions onto a single chip to control and analyze small volumes of fluids precisely. For instance, in January 2023, SCIEX, a US-based manufacturer of mass spectrometry instrumentation, launched the Intabio ZT system, the first fully integrated microfluidic chip-based platform. It is the first fully-integrated microfluidic chip-based platform that combines imaged capillary isoelectric focusing (icIEF) separation and UV detection. The system utilizes the Biologics Explorer software, which enhances data processing capabilities, allowing for a deeper understanding of the biopharmaceuticals being analyzed.

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Major Key Players of the Market:

Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Teledyne Technologies Incorporated, Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Zeon Corporation, Standard BioTools Inc., Biosurfit SA, Blacktrace Holdings Ltd., LioniX International B.V., CMC Microsystems Inc., Micronit Microfluidics B.V., Sphere Fluidics Limited, Microfluidic ChipShop GmbH, BlackHole Lab Inc., Bartels-Mikrotechnik GmbH, Hesperos Inc., Fluigent SA

Microfluidic Devices Market 2024 Key Insights:

• The microfluidic devices market size is expected to see rapid growth in the next few years. It will grow to $15.56 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%.
• Rising Prevalence Of Infectious Diseases Fuels Growth In The Microfluidic Devices Market
• Fully-Integrated Microfluidic Chip-Based Platforms Lead The Innovation In The Market
• North America was the largest region in the microfluidic devicess market in 2023

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