Microfluidic Devices Market Trends And Size Analysis By Industry (In-Vitro Diagnostics, Pharmaceutical (Chips For Lab Analytics, Accurate Dispensing Devices And Micro-Reactors For Drug Synthesis), Medical Devices (Micro Pumps And Dispensing System, Inhalers, Micro-Needles)), Material (Polymer, Glass, Silicon), Application (Pharmaceutical and Life Science Research, Clinical and Veterinary Diagnostics, Point Of Care Diagnostics, Analytical Devices, Drug Delivery, Environmental And Industrial), Key Players And Region Forecast To 2025
Global Microfluidic Devices Market share is poised to grow at a CAGR of 19.70% and reaching the highest valuation of USD 14,296.04 million during the forecast period (2019-2025), says Market Research Future (MRFR). Microfluidic systems are capable enough to transform energy, medicine, electronics, and space exploration. The Global microfluidic devices market is mainly related to the growing demand for on-site test products, microfluidic chip miniaturization, and growing demand for genomics and proteomics. However, strict government policy might make the market growth sluggish. The global microfluidic devices market is expected to propel growth based on account of rising demand for microfluidic device in diverse sector and increased advancement in medical devices.
Microfluidic Devices Market Segmentation:
The Global microfluidic devices market is majorly classified based on materials, industry, and applications.
Based on the industry, the microfluidic devices market is divided into medical devices, pharmaceuticals, in-vitro diagnostics, and others. Among these, the in vitro diagnostics segment will have the largest market share during the forecast period. This is due to the growing demand for early diagnosis. The pharmaceutical segment is also sub-segmented into drug synthesis, lab analytics, and accurate dispensing devices. In addition, the medical equipment segment is classified into inhalers, microneedles, dosing systems, micropumps, and others
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Based on the material, the microfluidic devices market is segmented into silicon, glass, polymer. The polymer segment will influence the market during the forecast period. The polymer is an affordable material that enables fast production processes compared to silicon and glass. Polydimethylsiloxane (PDMS), cyclic olefin copolymer, polycarbonate, polymethyl methacrylate, polyvinyl chloride, and polystyrene are the most commonly used polymers for microfluidic chip prototyping.
By application, the microfluidic devices market is segmented into environmental and industrial sectors, drug supply, analysis equipment, on-site diagnostics, clinical and veterinary diagnostics, and pharmaceutical and life science research.
Microfluidic Devices Market Regional Outlook:
Following the regional performance of the various markets, the Americas are anticipated to lead the market during the evaluation period. This is foreseen due to the growing awareness of health care, rising number of the elderly population, chronic diseases and lifestyle, technological developments for different household applications, and a comprehensive insurance infrastructure.
The microfluidic devices market in Europe is expected to occupy the second largest market share during the forecast period. This is due to the increasing participation of market participants and technological progress.
The microfluidic devices market in the Asia Pacific region is likely to grow faster during the forecast period. This growth trend is attributed to the introduction of advanced products by leading companies. The microfluidic devices market in the Middle East and Africa will have a nominal market share over the forecast period due to weak economic development in the African region.
Microfluidic Devices Market Competitive Analysis:
Advancement in the healthcare sector is on the peak and is swiftly opening growth prospects for companies functioning in the healthcare devices and equipment. However, the key contributors in the global microfluidic devices market include Micronit Microtechnologies, BioMérieux, Thermo Fisher Scientific Inc., Elveflow, BD, Perkinelmer Inc., Johnson & Johnson Services, Inc., RainDance Technologies, Dolomite Microfluidics, Inc., CEPHEID, BIO-RAD LABORATORIES, INC., Agilent Technologies, Inc, Fluidigm, Siemens, Abbott Laboratories, and F. HOFFMANN-LA ROCHE AG.
Georgia Institute of Technology (GIT) researchers demonstrated the isolation of circulating tumor cells from blood samples with the newly developed microfluidic device that operates like a cancer cell trap. The device is full 3D printed. This study might open multiple doors for cancer research and help in enhancing the treatment quality as it enables low-cost and rapid isolation or separation of cancer cells present in the bloodstream.
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