Global Microfluidics Market to Reach US$ 89.5 Billion by 2032, Impelled by Increasing Demand for Rapid Testing Kits

June 10, 2022 | Healthcare

According to the latest report by IMARC Group, titled "Microfluidics Market Report by Material (Silicon, Glass, Polymer, PDMS, and Others), Component (Microfluidic Chips, Micro Pumps, Microneedles, and Others), Application (Pharmaceutical and Life Science Research, Clinical and Veterinary Diagnostics, Point-of-Care Diagnostics, Analytical Devices, Drug Delivery, and Others), and Region 2024-2032," the global microfluidics market reached a value of US$ 29.2 Billion in 2023. Microfluidics refers to a technological method that is adopted in order to study the nature and characteristics of fluids. Its utilization involves a set of tools that are generally used for manipulating and controlling the chemical and biological processes of small volumes of fluids. Along with this, it is applied in the manufacturing of microminiaturized devices that contain numerous tunnels and chambers through which fluids flow or are confined. In comparison to conventional fluid measuring devices, it needs lesser samples, the tools are compact in size and it offers excellent parameter control and data quality. As a result, it is widely used for DNA analysis, separation and manipulation of cells and PCR amplification.

Global Microfluidics Market Trends:

The global market is primarily driven by the increasing product demand from medical research. Coupled with the rising prevalence of infections on the global level, this is creating a positive market outlook. Moreover, the widespread demand for rapid testing kits on account of the sudden outbreak of coronavirus disease (COVID-19) is catalyzing the demand for microfluidics. In addition to this, the growing investments by leading players in the development of advanced point-to-care (POC) devices areimpacting the market growth favorably.Along with this, extensive research and development (R&D) activities conducted by key players in the field of life science areproviding an impetus to the market. Additionally, continual technological advancements in microfluidics and the introduction of miniaturized product variants are considered to be major growth-inducing factors. Other factors, including continuous improvements in the healthcare and pharmaceutical infrastructures, the augmenting number of research laboratories and diagnostic centers, and the adoption of novel therapeutics among the masses, are also positively influencing the market.On account of the aforementioned factors, the market is anticipated to reach a value of US$ 89.5 Billion by 2032, exhibiting a CAGR of 13.1% during 2024-2032.

Market Summary:

  • On the basis of the material, the market has been segmented into silicon, glass, polymer, PDMS and others.
  • Based on the component, the market has been segregated into microfluidic chips, micro pumps, microneedles and others.
  • On the basis of the application, the market has been classified into pharmaceutical and life science research, clinical and veterinary diagnostics, point-of-care diagnostics, analytical devices, drug delivery and others.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Abbott Laboratories, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Blacktrace Holdings Ltd, Elvesys Group, Fluidigm Corporation, Illumina Inc., Micronit B.V., Parker-Hannifin Corporation, PerkinElmer Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Material, Component, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Abbott Laboratories, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Blacktrace Holdings Ltd, Elvesys Group, Fluidigm Corporation, Illumina Inc., Micronit B.V., Parker-Hannifin Corporation, PerkinElmer Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
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Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Microfluidics Market to Reach US$ 89.5 Billion by 2032, Impelled by Increasing Demand for Rapid Testing Kits
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