Microfluidic Devices Market Is Expected to Reach USD 158.1 Billion by 2031 | Idex Corporation, Agilent Technologies, Inc., Illumina, Inc., Nanostring

According to the report published by Allied Market Research, the global microfluidic devices market generated $21.7 billion in 2021, and is estimated to reach $158.1 billion by 2031, witnessing a CAGR of 22.4% from 2022 to 2031.

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The report offers detailed segmentation of the global microfluidic devices market based on product, application, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

Based on product, the microfluidic components segment held the largest share in 2021, contributing to nearly three-fourths of the global microfluidic devices market, and is likely to maintain its leadership status during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 22.5% from 2022 to 2031. The research also analyzes the microfluidic-based devices segment.

Based on application, the in-vitro diagnostics segment held the largest share in 2021, accounting for more than three-fifths of the global microfluidic devices market, and would rule the roost through 2031. The same segment is estimated to witness the fastest CAGR of 22.9% during the forecast period. The study also encompasses the segments such as pharmaceutical & life science research and manufacturing and therapeutics.

Based on end user, the hospitals & diagnostic centers segment was largest market in 2021, accounting for more than half of the global microfluidic devices market, and is likely to maintain its leadership status during the forecast period. The same segment is expected to manifest the highest CAGR of 22.8% from 2022 to 2031. The research also analyzes the segments such as academic & research institutes and pharmaceutical & biotechnology companies.

Based on region, North America accounted for the highest share in 2021, contributing to more than two-fifths of the global microfluidic devices market, and is likely to dominate the market during the forecasted timeframe. However, Asia-Pacific is projected to portray the fastest CAGR of 24.6% during the forecast period. The research also analyzes the regions including Europe and LAMEA.

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Leading players of the global microfluidic devices market analyzed in the research include Lonza Group, Thermo Fisher Scientific Inc., Perkinelmer Inc., Biorad Laboratories, Inc., Illumina, Inc., Qiagen N.V., Fluidigm Corporation, Dolomite Microfluidics, bioMérieux SA, Abbott Laboratories, Danaher Corporation, SMC Corporation, Idex Corporation, Fortive Corporation, Agilent Technologies, Inc., Nanostring and Nortis Inc.

The report analyzes these key players of the global microfluidic devices market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

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