The microfluidics market size is expected to reach USD 81.13 Billion in 2030 and register a revenue CAGR of 16.2% during the forecast period.

NEW YORK CITY, NY, UNITED STATES, June 7, 2022 /EINPresswire.com/ -- The global microfluidics market size is expected to reach USD 81.13 Billion in 2030 and register a revenue CAGR of 16.2% over the forecast period, according to the latest report by Reports and Data. Increasing importance of Point-Of-Care (POC) testing in medical emergencies for quick diagnosis and decision making is expected to drive market revenue growth during the forecast period. POC devices are widely accepted diagnostic tools in the healthcare sector owing to advantages such as rapid and accurate detection, ease of operation, cost-effectiveness, portability, and non-requirement of specialized professionals.

Microfluidics platforms handle low volume samples such as femtoliters (fL), which is one quadrillionth of a liter. This allows researchers to work with fewer samples and reagents with more accuracy and provide results faster than with traditional methods. The need for immovable desktop scanners or cameras that are sensitive to ambient light conditions makes it difficult to use paper-based colorimetric immunoassays such as enzyme-linked immunosorbent assay (ELISA). Microfluidic POC testing has proven to be a robust and optimal medical technology compared to standard laboratory-based testing, especially in demanding and resource-constrained environments. The COVID-19 pandemic has been one of the major factors driving adoption of POC testing owing to cost-effectiveness and short duration of patient stay in hospital.

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Some Key Highlights From the Report:

POC diagnostics segment accounted for a significantly large revenue share in 2021, especially as a result of rising prevalence of infectious diseases and high demand for home care. Microfluidics offers excellent functionality and flexibility and can be integrated into various on-chip diagnostic modules, which is an extremely attractive solution for developing countries. Low medical and research cost requires low volume samples, and this is driving demand for microfluidic-based devices, especially in low-income countries.

Polymer material, especially Polydimethylsiloxane (PDMS), segment revenue is expected to register a steady growth rate during the forecast period. PDMS is currently in very high demand and is a widely used material for fabricating microfluidic devices owing to its flexibility in molding and pressing, ease to procure, and biocompatibility. Furthermore, microfluidic devices can utilize hybrids of silicon, glass, and polymer materials, providing for more usability.

Market in North America accounted for largest revenue share in global microfluidics market in 2021, owing to well-established healthcare system and high acceptance of novel therapeutics in countries in the region. The US is one of the prime destinations for R&D, for which budgets are significantly high.

On 1 April 2022, engineering researchers from Florida Atlantic University’s College of Engineering and Computer Science developed an easy-to-operate and inexpensive microfluidic chip for sperm selection to treat infertility. The device is designed to isolate healthy sperms from the collecting chamber, while simultaneously reducing contamination by deformed or dead sperm cells.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Microfluidics market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.

Leading companies operating in the market are:

uFluidix, Nanōmix, Inc., Quidel Corporation, biosurfit SA, Abbott, Illumina, Inc., Abaxis, NanoEntek, PerkinElmer Inc., and Bio-Rad Laboratories, Inc.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Microfluidics Market Segmentation:

Components Outlook (Revenue, USD Billion; 2019-2030)

Microfluidic Chips
Micropumps
Microneedles
Other Components

Application Outlook (Revenue, USD Billion; 2019-2030)

Drug Delivery
Point-of-Care (POC) Diagnostics
Pharmaceutical and Biotechnology Research
Clinical Diagnostics
Others

Regional Outlook:

• North America (USA and Canada)
• Europe (UK, Germany, France and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• Middle East and Africa (GCC and rest of the Middle East and Africa)

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About Reports and Data

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