Microfluidics Market Size Worth USD 77.5 billion by 2033 at a CAGR of 13.7% Says AMR

Allied Market Research published a report, titled, "Microfluidics Market by Application (Medical/Healthcare and Non-Medical), Material (Silicone, Glass, Polymer, PDMS, and Others), Technology (Lab-On-A-Chip, Organs-On-Chips, Continuous Flow Microfluidics, Optofluidics & Microfluidics, Acoustofluidics & Microfluidics, and Electrophoresis & Microfluidics): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the microfluidics market was valued at $23.2 billion in 2023 and is estimated to reach $77.5 billion by 2033, growing at a CAGR of 13.7% from 2024 to 2033.

What are the driving factors for the Microfluidics Market?

The ongoing advancements in material science, fabrication techniques, and detection methods are driving the progression of microfluidics technology, resulting in the creation of increasingly advanced microfluidic devices with improved functionalities. Integrating these devices into various sectors, including healthcare, biotechnology, and manufacturing, often necessitates significant modifications and adaptations to current processes. The increasing incidence of chronic diseases such as diabetes, highlights the need for innovative diagnostic and therapeutic solutions. Microfluidic technologies present a promising path forward, facilitating the development of highly sensitive and portable diagnostic tools for early detection and continuous monitoring.

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Top Key Players of the Microfluidics Market

• Illumina, Inc.
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche Ltd
• PerkinElmer, Inc.
• Thermo Fisher Scientific
• Agilent Technologies, Inc.
• Standard BioTools
• Danaher Corporation
• Abbott
• bioMerieux

The report provides a detailed analysis of these key players in the global microfluidics market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions.

Microfluidics Market segmentation can be done based on several factors, including:

Based on application, the medical/healthcare sub-segment generated the maximum revenue in 2023.

In diagnostics, microfluidic devices enable rapid and sensitive detection of various diseases and pathogens. These devices offer advantages such as high throughput, low sample volume requirement, and multiplexing capabilities. They are utilized for point-of-care testing, enabling timely diagnosis and treatment initiation, particularly in remote or resource-limited settings.

Based on material, the polydimethylsiloxane (PDMS) sub-segment was the fastest growing in 2023.

PDMS is a popular polymer for fast prototyping microfluidic devices. These are widely utilized by the academic community owing to their ease of production and inexpensive cost. On the contrary, these polymers are hydrophobic, making microchannels difficult to operate in aqueous conditions. To address hydrophobicity issues, new PDMS surface modifications are being introduced.

Based on technology, the lab-on-a-chip sub-segment accounted for a dominant market share in 2023.

A lab-on-a-chip is a miniature device that allows for the simultaneous analysis of several biological and biochemical samples. The research on lab-on-a-chip focuses on numerous applications, including human diagnostics, DNA analysis, and, to a lesser extent, chemical synthesis. Thus, lab-on-a-chip appears as a viable diagnostic tool since the shrinking of biochemical activities lowers costs, parallelizes operations, and improves diagnostic speed, sensitivity, and accuracy.

Based on region, North America accounted for the highest CAGR in 2023.

North America's dominance in the microfluidics market was due to continued innovations in technology, increased investment in R&D, and a strong ecosystem of academic and industry partners. The trend is projected to continue owing to new discoveries and applications in a variety of industries across the region.

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Our Market Research Solution Provides You Answer to Below Mentioned Question:

• Which are the driving factors responsible for the growth of market?
• Which are the roadblock factors of this market?
• What are the new opportunities, by which market will grow in coming years?
• What are the trends of this market?
• Which are main factors responsible for new product launch?
• How big is the global & regional market in terms of revenue, sales and production?
• How far will the market grow in forecast period in terms of revenue, sales and production?
• Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
• How will each segment grow over the forecast period and how much revenue will these segments account for in 2030?
• Which region has more opportunities?

Region Analysis:-

• North America
(U.S., Canada, Mexico)
• Europe
(Germany, France, UK, Italy, Spain, Rest of Europe)
• Asia-Pacific
(Japan, China, India, Rest of Asia-Pacific)
• LAMEA
(Brazil, Saudi Arabia, South Africa, Rest of LAMEA)

Contact Details:

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help@alliedmarketresearch.com

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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 domain.

This release was published on openPR.