Microfluidics Market Report (2023 to 2031) - Illumina, Inc., Qiagen N.V., Perkinelmer, Abbott Laboratories and Biomérieux

Newark, New Castle, USA, June 12, 2023 (GLOBE NEWSWIRE) -- According to the most recent analysis by Growth Plus Reports, the global was valued at US$ 21.5 billion and is expected to rise at a revenue CAGR of 19.5% to reach US$ 106.85 billion by 2031.

The global microfluidics market was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Microfluidics is a branch of technology that uses tiny channels to move and regulate fluids with volumes ranging from microliters to picoliters. 

Recent Development in the Global Microfluidics Market: 

• In March 2022, The Miro Canvas, a portable and user-friendly digital microfluidics platform, was released in March by Miroculus, Inc. It makes it possible to automate complex next-generation sequencing (NGS) sample preparation procedures as needed. 
• In January 2022, A request for finance for manufacturing initiatives was made public by uFluidix. The uFluidix team has successfully increased its output capacity over the last year, and it is now optimizing for new process variables in the manufacture of thermoplastic microfluidic chips.

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                                                      Microfluidics Market Scope

Key Takeaways: 

• The rising prevalence of lifestyle disorders and sufficient technology to treat them drive market revenue share.
• The rising R&D activities and reduction of the use of reagents for in-silico methods are driving the demand for microfluidics.
• Several collaborations among market players are propelling market revenue growth.

Market Drivers and Restraints: 

The driving factor for the microfluidics market revenue is the miniaturization, consolidation, and mechanization of extremely complex chemical, biological, and physical tests. Furthermore, lower sample and reagent consumption, quicker analysis times, simplicity of automation, and the ability to execute parallel tests decrease assay costs and time, contributing to the market revenue growth. 

However, the high cost of in-silico products is expected to restrict market revenue growth to some extent. 

Market Segmentation: 

Segmentation By Product Type

Based on product type, the global microfluidics market is segmented into microfluidic-based devices and microfluidic components. Due to the advancements in microfluidic technology, the microfluidic component segment accounts for the largest market revenue share and is expected to rise significantly during the forecast period.

Segmentation By Material

Based on the material, the global microfluidics market is segmented into polymer, silicone, and glass. Due to sustainability and high diffusion rates, the polymer-based material segment accounts for the largest revenue share and is expected to rise significantly during the forecast period. Polymers can be used in soft lithography, injection molding, casting, and hot embossing. 

Segmentation By Application

Based on application, the global microfluidics market is segmented into drug delivery, point-of-care diagnostics, pharmaceutical and biotechnology research, clinical diagnostics, and others. Due to the accessibility of affordable medications, the retail pharmacies segment accounts for a sizable revenue share in the global market for amorphous hydrogel dressings.

Regional Growth Dynamics

Based on the region, the global microfluidics market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Due to the rising number of studies chosen to better sample optimization, the entry of cutting-edge innovations, well-established market participants, and a substantial need for POC diagnostics, North America accounts for the most significant revenue share in the global market.

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Competitive Landscape

The top market participants in the global microfluidics market are listed below: 

• Illumina, Inc.
• Qiagen N.V.
• Becton, Dickinson, and Company
• Bio-Rad Laboratories, Inc.
• Micronit Microtechnologies
• Thermo Fisher Scientific Inc.

Report Coverage 

Growth Plus Reports studied the global market for microfluidics in-depth and analyzed the basic market characteristics, significant investment areas, analytics of regional growth, revenue forecast, competitive market players, mergers, and acquisitions. 

Table of Content

1. INTRODUCTION

1. 1. Market Ecosystem 
   2. Timeline Under Consideration
      1. Historical Years - 2020
      2. Base Years - 2021
      3. Forecasted Years – 2022 to 2030 
   3. Currency Used in the Report

2. RESEARCH METHODOLOGY 

2. 1. Research Approach
   2. Data Collection Methodology
   3. Data Sources
      1. Secondary Sources 
      2. Primary Sources 
   4. Market Estimation Approach
      1. Bottom Up 
      2. Top Down 
   5. Market Forecasting Model
   6. Limitations and Assumptions       

3. PREMIUM INSIGHTS

3. 1. Current Market Trend (COVID-19 Perspective)
   2. Key Players & Competitive Positioning (2021) 

4. MARKET DYNAMICS

4. 1. Drivers
   2. Restraints/Challenges
   3. Opportunities

5. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY PRODUCT TYPE

5. 1. Microfluidic-based devices
   2. Microfluidic Components

6. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY MATERIAL

6. 1. Polymer
   2. Silicone
   3. Glass
   4. Others

7. GLOBAL MICROFLUIDIC MARKET - ANALYSIS & FORECAST, BY APPLICATION

7. 1. Drug Delivery
   2. Point-of-Care Diagnostics
   3. Pharmaceutical and Biotechnology Research
   4. Clinical Diagnostics
   5.  Others

MICROFLUIDIC MARKET TOC

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• Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
• Blanket coverage on competitive landscape
• Winning imperatives
• Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.

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• Customer Base Assessment
• Investment & Initiatives Analysis
• 'Business Profile' of Key Players

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