The microfluidics market size is expected to reach USD 81.13 billion in 2030 and register a revenue CAGR of 16.2% during the forecast period.
NEW YORK CITY, NY, USA, June 7, 2022 /EINPresswire.com/ — The Global microfluidics market The size is expected to reach USD 81.13 billion in 2030 and register a CAGR of 16.2% over the forecast period, according to the latest report from Reports and Data. The growing importance of point-of-care (POC) testing in medical emergencies for rapid diagnosis and decision-making is expected to drive the market revenue growth over the forecast period. POC devices are widely accepted diagnostic tools in the healthcare industry due to advantages such as fast and accurate detection, ease of use, cost-effectiveness, portability, and non-requirement of specialized professionals.
Microfluidic platforms process small volume samples such as femtoliters (fL), or one quadrillionth of a liter. This allows researchers to work with fewer samples and reagents with greater precision and deliver results faster than with traditional methods. The need for stationary desktop scanners or cameras sensitive to ambient light conditions makes the use of paper-based colorimetric immunoassays such as enzyme immunoassay (ELISA) difficult. Microfluidic POC testing has proven to be a robust and optimal medical technology compared to standard laboratory testing, especially in demanding and resource-limited environments. The COVID-19 pandemic has been one of the major factors driving the adoption of POC testing due to the cost-effectiveness and short length of stay for patients in hospital.
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Some key highlights of the report:
The POC diagnostics segment accounted for a significantly large revenue share in 2021, particularly due to the growing prevalence of infectious diseases and the high demand for home care. Microfluidics offers excellent functionality and flexibility and can be integrated into various on-chip diagnostic modules, which is an extremely attractive solution for developing countries. Low medical and research costs require low sample volumes, which is driving demand for microfluidics-based devices, especially in low-income countries.
Revenue from the polymer materials segment, especially polydimethylsiloxane (PDMS), is expected to register a steady growth rate over the forecast period. PDMS is currently in high demand and is a widely used material for the fabrication of microfluidic devices due to its molding and pressing flexibility, ease of supply, and biocompatibility. Additionally, microfluidic devices can use hybrids of silicon, glass, and polymeric materials, providing greater usability.
The North America market accounted for the largest revenue share of the global microfluidics market in 2021, driven by a well-established healthcare system and high acceptance of new therapies in countries in the region. The United States is one of the main destinations for R&D, for which budgets are significantly high.
On April 1, 2022, engineering researchers at Florida Atlantic University’s College of Engineering and Computer Science developed an easy-to-use, low-cost microfluidic chip for sperm selection to treat infertility. The device is designed to isolate healthy sperm from the collection chamber, while simultaneously reducing contamination from deformed or dead sperm.
The report also focuses on the details of each market player including their global position, financial position, revenue generation, company overview, product and service portfolio. The microfluidics market is fiercely competitive and consists of several regionally and globally key players. The major players are focusing on adopting various strategies such as new product launches, mergers and acquisitions, R&D investments, partnerships, joint ventures and collaborations to strengthen their market position and improve their product portfolio. products.
Major companies operating in the market are:
uFluidix, Nanōmix, Inc., Quidel Corporation, biosurfit SA, Abbott, Illumina, Inc., Abaxis, NanoEntek, PerkinElmer Inc. and Bio-Rad Laboratories, Inc.
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The report also offers detailed information on market segmentation based on type, application and regional bifurcation:
Microfluidics Market Segmentation:
Components Outlook (Revenue, USD Billion; 2019-2030)
Application Outlook (Revenue, USD Billion; 2019-2030)
Point-of-Care (POC) Diagnostics
Pharmaceutical and biotechnology research
• North America (USA and Canada)
• Europe (UK, Germany, France and rest of Europe)
• Asia-Pacific (China, Japan, India and the rest of the Asia-Pacific region)
• Latin America (Brazil, Mexico and rest of Latin America)
• Middle East and Africa (GCC and Rest of Middle East and Africa)
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