Microfluidics Market is projected to reach a value of over USD 34.9 billion by 2027

MICROFLUIDICS MARKET: SUMMARY

The Global Microfluidics Market is projected to reach a value of over USD 34.9 billion by 2027 at a CAGR of 13.2%.

Microfluidics is referred to as the technology that deals with manipulation and precise control of the fluids in minute quantities (range 10–6 to 10–12) within the microfluidic channels. This technique implements the split, merge, and mix operations in order to manipulate the chemicals infused fluids used in medical application. It offers advantages such as improved precision and accuracy of experimental results as well as ability to run multiple analysis parallel, when compared to conventional techniques using macro-quantities of fluids. Microfluidics has gained popularity in the diseases diagnostic, drug screening, monitoring and delivery, point of care diagnostics, microbiological research, and many more application across pharmaceutical and healthcare sector.

MICROFLUIDICS MARKET: DRIVERS & CHALLENGES

Market Driver:

Globally, increasing prevalence of chronic medical conditions results into higher demand for better access to advanced medical services, which can be easily catered by efficient, accurate, and portable medical devices. Microfluidics are increasingly used in portable, automated, and miniaturized devices resulting into lesser reagent consumption with less human interference, capable of delivering more accurate results in relatively less time. Rising awareness regarding advantages of the miniature medical diagnostics devices for delivering accurate results in lesser timespan, is projected to drive the market growth.

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The growth of the microfluidics market is expected to grow on the grounds of growing preference towards point-of-care testing (POCT). The point-of-care testing is constantly transforming the healthcare scenario for enhancing the clinical service. Growing incidence of chronic diseases, increasing elderly population, ongoing technological advancement, increasing patient preference towards POCT along with favorable governmental support to reduce the hospital stays is driving the demand for point-of-care testing/diagnostics.

Market Restraint:

The growth of the microfluidics market is expected to hamper owing to high fabrication cost of microfluidics. Fabrication of the microfluidics is a labor intensive, complex and time consuming, which escalated the overall process cost, leading to difficulties in commercialization of microfluidics.

MICROFLUIDICS MARKET: KEY SEGMENTS

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MICROFLUIDICS MARKET: REPORT SCOPE

The report on the microfluidics market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2018–2027

Base Year for Market Calculation

2019

Forecasted Period

2020–2027 (2020 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Material, Application, and End-user

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

KEY COMPANIES COVERED

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MICROFLUIDICS MARKET: REPORT SEGMENTATION

For the scope of the report, In-depth segmentation is offered by Forencis Research

Microfluidics Market, by Material

Microfluidics Market, by Application

Microfluidics Market, by End-user

Microfluidics Market, by Region

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL MICROFLUIDICS MARKET BY MATERIAL, Market Size in USD Million (2019–2027)

7 GLOBAL MICROFLUIDICS MARKET BY APPLICATION, Market Size in USD Million (2019–2027)

8 GLOBAL MICROFLUIDICS MARKET BY END-USER, Market Size in USD Million (2019–2027)

9 GLOBAL MICROFLUIDICS MARKET BY REGION, Market Size in USD Million (2019–2027)

10 Competitive Landscape

11 Company Profiles

12 Appendix

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