Microfluidics Market is expected to reach US$ 43,398.7 Million by 2027

Microfluidics Market: Key Insights

According to our new research study on “Microfluidics Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Material, Application, and Geography,” the global microfluidics market size is expected to reach US$ 43,398.7 million by 2027 from US$ 11,851.1 million in 2019; it is estimated to grow at a CAGR of 17.9% during 2019–2027. The report highlights trends prevailing in the market and factors driving its growth. The microfluidics market growth is attributed owing to the rapid demand for low-volume sample analysis and rising demand for microfluidics technologies in point-of-care testing. However, the complexity associated with the regulatory approval process may hinder the market growth.

North America held the largest market share in the microfluidics industry, with the US holding the largest market share, followed by Canada and Mexico. The market for microfluidics in the US is expected to grow owing to factors such as technological advancements, the launch of new and advanced products, and increasing R&D activities in the country. New York-based McDevitt Research laboratory is a medical microdevice group committed to improve the speed, accuracy, and affordability of disease diagnosis on a global basis. In 2015, the McDevitt Research laboratory introduced lab-on-a-chip technology that helped to integrate onto a single chip for several analyses, including analyses such as DNA sequencing or biochemical detection. Research on lab-on-a-chip mainly focuses on human diagnostics and DNA analysis. Moreover, in October 2016, California-based 10x Genomics introduced its new, low-cost single-cell instrument Chromium Single Cell Controller, a massively scalable tool for comprehensive single-cell analysis, which is based on microfluidics consumables based on GemCode Technology. Thus, owing to the above-mentioned factors, the microfluidics market in the US is expected to gain prominence in the coming years.

Microfluidics Market

Rising Demand for Microfluidics Technologies in Point-Of-Care Testing Fuels Microfluidics Market Growth

Microfluidic technologies are evolving and offering products and services for a wide range of applications. In the recent past, it has emerged as a promising application in Point of Care (POC) testing for disease diagnosis. POC tests have the potential to improve disease diagnosis ranging from early disease detection, easier monitoring, and increased personalization. Microfluidics offers a wide range of benefits for POC diagnostics such as faster turnaround times, smaller sample volumes, and lesser test costs. These benefits are increasingly being utilized to develop diagnosis and detection POC devices for a variety of conditions such as cancer and infectious diseases. For instance, the Laboratory of Integrated Bio-Medical/Nanotechnology & Applications (LIBNA) designed a microfluidic point-of-care sepsis chip. This chip can quantify white blood cell counts and CD64 expression levels on neutrophils in 30 minutes. Sepsis is a life-threatening complication and has the highest burden of death and medical expenses worldwide. As per the Sepsis Alliance, it affects over 30 million people and causes 8 million deaths each year worldwide. Additionally, the researchers at Columbia University School of Engineering and Applied Science have developed mChip-Ld for the early diagnosis of Lyme disease. With cases of Lyme disease on the rise and a lack of highly specific clinical manifestations, rapid detection of the disease is crucial. As per the Centers for Disease Control and Prevention (CDC), around 300,000 cases, Lyme disease occur every year in the US. Recent advances such as paper-based microfluidic analytical devices (μPADs) possess numerous special benefits for practical implementation at a lower price. In recent years, paper microfluidics has drawn immense interest from researchers in industry and academia alike. These devices have wider applications with advantages such as lower cost, speedy detection, user-easiness, biocompatibility, sensitivity, and specificity when compared to other microfluidic devices. Therefore, these sensitive but affordable devices fit themselves into point-of-care (POC) testing with demand for features such as natural disposability, situational flexibility, and the capability to store and analyze the target at the point of requirement. The recent contribution of μPADs in the 2020 pandemic situation has provided immense opportunities in the microfluidic operations across the world. Such factors is expected to aid the microfluidic market over the next eight years.

Microfluidics Market: Segmental Overview

Product-Based Insights

The global microfluidics market, based on product, is segmented into microfluidic chips, microfluidic sensors, devices, micropumps, microneedles, and other products. The devices segment held the largest share in 2019 and is expected to witness the highest growth from 2019 to 2027.

Material-Based Insights

The global microfluidics market, based on material, is segmented into PDMS, polymers, glass, silicon, and others. The PDMS segment held the largest share in 2019 and is expected to witness the fastest growth rate from 2019 to 2027.

Application-Based Insights

The global microfluidics market, based on application, is segmented into in-vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications. The in-vitro diagnostics segment held the largest share in 2019 and is expected to witness the highest growth from 2019 to 2027.

Microfluidics Market: Competitive Landscape and Key Developments

Agilent Technologies, Inc.; BD; Bio-Rad Laboratories Inc.; Danaher; Dolomite Microfluidics (Blacktrace Holdings Ltd.); Fludigm Corporation; Illumina, Inc.; microfluidic ChipShop GmbH; Perkin Elmer, Inc.; Thermo Fisher Scientific Inc.; CMC Microsystems; Epigem; FlowJEM; Quidel Corporation; and Abaxis, Inc; are among the leading companies in the microfluidics market. The microfluidics market share is anticipated to flourish with the development of new innovative products by market players.

• In April 2020, Dolomite Microfluidics and Mologic entered into strategic collaboration to expand the production of COVID-19 diagnostic tests. The tests incorporated nano-particles based diagnostic testing technology.
• In May 2018, Agilent Technologies, Inc. acquired Advanced Analytical Technologies, Inc. (AATI), a provider of capillary electrophoresis-based (CE) solutions for the fully-automated analysis for a range of molecules.

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