Microfluidics Market

Market Overview:

The global microfluidics market size reached US$ 29.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 89.5 Billion by 2032, exhibiting a growth rate (CAGR) of 13.1% during 2024-2032.

Microfluidics is a technology that relies on a set of tools or systems to manipulate small volumes of fluids and control chemical, biological, and physical processes relevant to sensing. It can be integrated with electronic and optical elements for the construction of operational sensors using lithographic techniques. It is widely utilized in biomedical applications, such as tissue engineering and wound healing, to control living systems. Nowadays, advanced fabrication technologies like two-photon polymerization (2PP) are used to fabricate miniature microfluidic components, such as microneedles, microfilters, micromixers, micropumps, microvalves, and photonic sensors. These components offer unique three-dimensional (3D) capabilities, extreme resolution, and sufficient versatility.

Microfluidics Market Trends:

The increasing number of new infections and deaths due to coronavirus disease (COVID-19) is driving the demand for microfluidics-based detection approaches that can help develop rapid, effective, and easy-to-use clinical detection techniques. Besides this, lab-on-chip (LOC) devices, which are microsystems capable of integrating biological or chemical laboratories in a single chip, are finding wide applications in scientific research. This represents another major factor catalyzing the demand for miniature microfluidic components on account of their improved compactness and functionalities. Moreover, microfluidics has distinct advantages, including high sensitivity, specificity, controlled fluid handling, low volume sampling, low-cost prototyping, and rapid readout. This, in confluence with the growing prevalence of acute and chronic diseases across the globe, is positively influencing the adoption of microfluidics for blood analysis and point of care (POC) testing of cancer and infectious diseases. In addition, the rising popularity of nanofibers in tissue engineering and regenerative medicine is contributing to market growth. Furthermore, as microfluidics enables the custom-made fabrication of nanofibers in a broad range of materials and morphologies, their sales are increasing around the world.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global microfluidics market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on material, component and application.

Breakup by Material:

• Silicon
• Glass
• Polymer
• PDMS
• Others
   

Breakup by Component:

• Microfluidic Chips
• Micro Pumps
• Microneedles
• Others
   

Breakup by Application:

• Pharmaceutical and Life Science Research
• Clinical and Veterinary Diagnostics
• Point-of-Care Diagnostics
• Analytical Devices
• Drug Delivery
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 Coverage:

Key Questions Answered in This Report:

• How has the global microfluidics market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global microfluidics market?
• What are the key regional markets?
• What is the breakup of the market based on the material?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global microfluidics market and who are the key players?
• What is the degree of competition in the industry?