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.

Prime Determinants of Growth

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.

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.

Key Players

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.

Recent Developments

In October 2022, Standard BioTools introduced the X9 Real-time PCR System, leveraging microfluidics technology to offer a versatile and efficient genomics platform with high capacity.

In March 2022, Miroculus unveiled the Miro Canvas, a compact and user-friendly digital microfluidics platform designed to automate complex next-generation sequencing (NGS) sample preparation protocols on demand.

In January 2022, uFluidix announced the successful doubling of their manufacturing capacity over the preceding 12 months. They were in the process of optimizing for new manufacturing variables to enhance the production of thermoplastic microfluidic chips.

The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

 

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