Overview
The major advantage of microfluidic devices is their ease of use and small size. In the developing world, microfluidic devices have the potential to provide life-saving diagnostics. Their rapid response times mean they can be deployed in far-flung clinics. The biggest challenge is making these devices durable and easy to use. There are several important factors to consider before designing a microfluidic device. So, the first step is figuring out how to reduce the size of your system.
It is very possible to use microfluidics to build a lab on a chip, a miniature lab. This device can replace a full-sized lab in terms of cost and efficiency. A typical lab on a chip comprises three basic components: an input of a sample and processing fluid. Chemical reactions may involve filtering, mixing, and introducing chemicals. When the chemical reaction is complete, the result is usually visible with a fluorescent microscope.
The global microfluidics market is estimated to account for US$ 3,800.4 Mn in terms of value in 2021 and is expected to reach US$ 12,927.6 Mn by the end of 2028.
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Market Drivers:
Increasing investment in bio-printing is expected to propel growth of the global microfluidics market over the forecast period. For instance, in January 2020, Aspect Biosystems Inc. raised US$ 20 million in series A funding to help develop 3D bio-printer technology that uses the science of microfluidics to create fresh human tissue.
Moreover, increasing adoption of microfluidics in digital media manufacturing is also expected to aid in growth of the market. For instance, in 2018, Technicolor presented a prototype chip at the Lab-on-a-Chip World Congress that can amplify a fluorescence signal eightfold by integrating optical diffractive lens technology into the chip.
Market Opportunities:
R&D in stereolithography is expected to offer lucrative growth opportunities for players in the global microfluidics market. For instance, in January 2020, researchers from Singapore University of Technology and Design reported development of a design approach that can improve the attainable channel dimensions and complexity of networks with existing stereolithography .
Market Restraints:
Lack of proper healthcare research infrastructure, proper regulatory framework, improper development and implementation of clinical practice guidelines and dearth of skilled labors in emerging markets along with high cost involved in R&D of microfluidics technology-based products is expected to hinder growth of the global microfluidics market.
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Key Takeaways:
The global microfluidics market is estimated to account for US$ 3,800.4 Mn in terms of value in 2021 and is expected to reach US$ 12,927.6 Mn by the end of 2028.
Europe held dominant position in the global microfluidics market in 2018, accounting for 32.2% share in terms of value, followed by North America.
Ceramic material segment in the global microfluidics market was valued at US$ 1,447.4 Mn in 2021 and is expected to reach US$ 5,516.0 by 2028 at a CAGR of 16.0% during the forecast period.
Covid-19 Impact Analysis:
Globally, as of 5:51pm CET, 16 December 2021, there have been 271,376,643 confirmed cases of COVID-19, including 5,324,969 deaths, reported to WHO. As of 16 December 2021, a total of 8,337,664,456 vaccine doses have been administered. Microfluidic devices can be used for the detection of viruses. Microfluidics are for infectious disease modelling and treatment, and can be applied to COVID-19 as well.
Market Trends:
Major players operating in the global microfluidics market are focused on expanding their production capabilities to enhance their market share. For instance, in February 2020, Sphere Fluidics announced investment in the production and supply of its proprietary biocompatible surfactant, Pico-Surf, for reliable and highly stable droplet generation and processing.
Competitive Landscape:
Major players operating in the global microfluidics market include, Agilent Technologies, Abbott Laboratories, Bio-Rad Laboratories, Inc., Fluidigm Corporation, F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Qiagen NV, and Thermo Fisher Scientific Inc.
Reasons To buy The Microfluidics Market Report:
➛ In-depth analysis of the market on the global and regional levels.
➛ Major changes in market dynamics and competitive landscape.
➛ Segmentation on the basis of type, application, geography, and others.
➛ Historical and future market research in terms of size, share growth, volume, and sales.
➛ Major changes and assessment in market dynamics and developments.
➛ Emerging key segments and regions
➛ Key business strategies by major market players and their key methods.
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Points cover in Global Microfluidics Market Research Report:
Chapter 1: Overview of Global Microfluidics Market (2022-2028)
- Definition
- Specifications
- Classification
- Applications
- Regions
Chapter 2: Market Competition by Players/Suppliers 2022 and 2028
- Manufacturing Cost Structure
- Manufacturing Process
- Industry Chain Structure
Chapter 3: Sales (Volume) and Revenue (Value) by Region (2022-2028)
- Sales
- Revenue and market share
Chapter 4, 5 and 6: Global Microfluidics Market by Type, Application & Players/Suppliers Profiles (2022-2028)
- Market Share by Type & Application
- Growth Rate by Type & Application
- Drivers and Opportunities
- Company Basic Information
Chapter 7, 8 and 9: Global Microfluidics Manufacturing Cost, Sourcing & Marketing Strategy Analysis
- Key Raw Materials Analysis
- Upstream Raw Materials Sourcing
- Marketing Channel
Chapter 10 and 11: Microfluidics Market Effect Factors Analysis and Market Size (Value and Volume) Forecast (2022-2028)
- Technology Progress/Risk
- Sales Volume, Revenue Forecast (by Type, Application & Region)
Chapter 12, 13, 14 and 15: Global Microfluidics Market Research Findings and Conclusion, appendix and data source
- Methodology/Research Approach
- Data Source (Secondary Sources & Primary Sources)
- Market Size Estimation
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