Microfluidic technology involves the manipulation of minute amounts of fluids at sub-millimeter scales using a network of microchannels etched on a silicon or glass substrate. Microfluidic lab-on-chip devices allow for precise fluid manipulation and complex biological reactions to be performed with minimal reagent consumption. This technology provides significant advantages in terms of portability, cost-effectiveness, time efficiency, and reduced sample and reagent volume requirements.
The global Microfluidic Market is estimated to be valued at Us$ 22.3 Bn in 2023 and is expected to exhibit a CAGR Of 4.0% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased adoption of lab-on-chip technology has been a major driver accelerating growth of the microfluidic market. Lab-on-chip devices integrate multiple laboratory functions on a single integrated circuit or microchip, allowing scientists and researchers to automate complex assays and analyses. compared to traditional laboratory equipment, microfluidic lab-on-chip devices offer benefits such as reduced volume requirements, higher throughput, portability, disposability, and lower costs. This has led to their increased usage in a variety of applications including genomics, proteomics, point-of-care testing, drug discoveries and life science research. The development of advanced lab-on-chip devices is expected to further boost demand and drive market growth over the forecast period.
Segment Analysis
The global microfluidic market comprises multiple segments such as biochips, electrochemical, photonics, polymeric, glass, and silicon based microfluidics. Polymeric microfluidics segment currently dominates the market and holds around 30% share globally due to low manufacturing cost and ease of mass production using polymers. The segment is expected to witness substantial growth during the forecast period owing to increasing usage in clinical diagnostics, point-of-care testing and genome analysis.
Key Takeaways
The Global Microfluidic Market Demand is expected to witness high growth during 2023-2030 period propelled by rising demand for point-of-care testing and clinical diagnostics applications. The global Microfluidic Market is estimated to be valued at US$ 22.3 Bn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2023 to 2030.
Regional analysis
North America region currently leads the global microfluidic market owing to advanced healthcare infrastructure and high adoption of novel technologies. The region accounts for over 40% share of the total market revenue primarily contributed by developed markets of United States and Canada. Asia Pacific region is expected to witness fastest growth during forecast period attributed to expanding healthcare sector and increasing healthcare investments across developing countries like India and China.
Key players
Key players operating in the microfluidic market are Nike, Adidas AG, Borosil, Milton, H2O International SA., shanghai Atlantis Industry Co. Ltd, SIGG Switzerland Bottles AG, Decathlon S.A., Puma SE, and Camlin Kokuyo. Nike dominates the market with over 20% share owing to wide portfolio of reusable bottles and sustainable packaging initiatives. Adidas and Puma also have strong presence in the market through their innovative sports bottles range.
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The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline.
Some are the key & emerging players that are part of coverage and have being profiled are F. Hoffmann-La Roche Ltd; Agilent Technologies, Inc.; Bio-Rad Laboratories, Inc.; Fluidigm Corporation; RainDance Technologies, Inc.; Cepheid; Blacktrace Holdings Limited; Micronit Micro Technologies B.V.; BD; MICRUX; uFluidix; Elveflow; Koninklijke Philips N.V.; Carville Limited; inziGn Pte Ltd.; MicroLab Devices; ARaymond; MICROLIQUIDGlobal microfluidic devices market is expected to register a healthy CAGR in the forecast period of 2019-2026.
The report contains data from the base year of 2018 and the historic year of 2017.Grab Sample Report + All Related Tables & Charts of Global Microfluidic Devices Market Study Now @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-microfluidic-devices-marketMarket Definition: Global Microfluidic Devices MarketMicrofluidic devices are the instruments, consumables and medical devices that are utilized in the field of microfluidics.
This field is currently being utilized in the development of medicine, protein crystallization and cell biology research.List of the Major Players Covered in Microfluidic Devices MarketFew of the major competitors currently working in the global microfluidic devices market are F. Hoffmann-La Roche Ltd; Agilent Technologies, Inc.; Bio-Rad Laboratories, Inc.; Fluidigm Corporation; RainDance Technologies, Inc.; Cepheid; Blacktrace Holdings Limited; Micronit Micro Technologies B.V.; BD; MICRUX; uFluidix; Elveflow; Koninklijke Philips N.V.; Carville Limited; inziGn Pte Ltd.; MicroLab Devices; ARaymond; MICROLIQUID; Epigem Limited; LioniX International; Little Things Factory GmbH; microfluidic ChipShop GmbH; Micralyne, Inc. MEMS Foundary and Lunaphore Technologies among others.Focal points covered in this Microfluidic Devices Market reportThis Microfluidic Devices Market report provides pin point analysis of the market outlook and later establishes its comparison with current patterns.
Also it creates a relationship of the market outlook with Porter Five Force AnalysisThis research report is inclusive concept of the market progression.
The market progression considers the components of the present situation and compares the current scenario of the market with future developmental chances.The Microfluidic Devices Market research report includes investigation at global and regional levels.
