Microfluidic Devices Market Overview
Market Research Future (MRFR) presumes that the microfluidic devices market will reach USD 14,296.04 Million at a 19.70% CAGR during the forecast period. The microfluidic devices market growth is encouraged by the mounting number of clinical trials with respect to cell-based therapies. Massive demand for high-throughput screening methodologies, In Vitro Diagnostics (IVD), and low-volume sample analysis, along with the emergence of innovative lab-on-a-chip technologies contribute to the business growth as well. Plus, the fact that microfluidic devices provide significant return on investment while facilitating cost control by reducing errors, bolsters their demand in different industries.
Microfluidic devices are increasingly being deployed in the diagnostics field, particularly in point of care diagnostics. This is further supplemented by advanced microfluidics-based biosensor technologies that help improve POC diagnostics. The combination of POC devices with microfluidic components helps achieve high stability, sensitivity, affordability, accuracy, and a minimally invasive POC technology.
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Major vendors are initiating production expansions, launch of new devices, and acquisitions to bolster their business positions. To cite a reference, in May 2021, Nuclera, a well-known biotech firm focused on the development of enzymatic protein as well as gene synthesis technologies, acquired E Ink-owned digital microfluidics unit into its recently formed US subsidiary.
Microfluidic Devices Market Segmentation
The industries covered in the MRFR analysis are in-vitro, pharmaceutical products, medical devices, and diagnosis. In-vitro diagnosis segment alone forms the biggest share of 50.6% in the microfluidic devices market.
The key materials discussed in the study are silicon, glass, polymer, and others. Polymer is the most cost-effective and easy to achieve material compared to silicon and glass. Consequently, the polymer segment has taken over the worldwide microfluidic devices market.
Major applications of microfluidic devices include Environmental and Industrial equipment, Clinical and Veterinary Diagnostics labs, Pharmaceutical and Life Science Research institutions, Drug manufacturing and delivery, Point of Care Diagnosis and rapid testing centers, and others.
Microfluidic Devices Market Regional Insight
America has successfully secured the highest position in the worldwide market, owing to the increased efforts by research institutes in developing advanced novel microfluidic devices. The United States should remain the top contributor to the American market growth in the future. Moreover, with the region harbouring some of the most reputed players that offer highly innovative microfluidics devices, the market size is bound to grow rapidly in the years ahead.
Europe, headed by Germany, France, UK, Italy, and Russia, bags the second position in the microfluidic devices industry. The high availability of cost-effective raw materials, and the major participants investing heavily on the R&D of microfluidic devices should ensure healthy business growth in the next few years.
Asia Pacific, backed by rapidly developing countries like Japan, China, Australia, South Korea, and India, is on track to be a profitable microfluidic devices market. The factor that the government bodies in these countries invest heavily on the development of innovative devices adds to the value of the APAC market. Also, the constant efforts to upgrade the medical infrastructure would allow the APAC market to procure the highest growth rate in the future.
BioMérieux, Siemens, Fluidigm, Abbott Laboratories, CEPHEID, Dolomite Microfluidics, BD, Johnson & Johnson Services Inc., Agilent Technologies, Inc., BIO-RAD LABORATORIES, INC., Elveflow, F. HOFFMANN-LA ROCHE AG, Thermo Fisher Scientific Inc., Micronit Microtechnologies, Perkinelmer Inc., RainDance Technologies, Inc. are the major developers in the worldwide microfluidic devices market.
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Biolase along with EdgeEndo confirms that the FDA has given the 510(k) clearance to its EdgePRO system, which is a microfluidic irrigation device. Biolase ha designed the EdgePRO platform based on its laser technology for cleaning, disinfection and debridement, via the removal of infected biofilms, smear layer, tissue, and destroying of around 99% of bacteria generally present in the root canal. This device combines innovative laser light-sound technology with the conventional irrigation solutions.
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