Microfluidics involves handling of fluids at the micro-level to perform laboratory analyses and medical diagnostics. Microfluidic chips are used for processing tiny volumes of liquids in miniaturized total analysis systems integrated with several processes such as sample mixing, separation, and detection. The rising demand for portable rapid tests and point-of-care diagnostics is driving the need for microfluidic technologies.
The global Microfluidic Market is estimated to be valued at US$ 25.69 Mn in 2023 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The miniaturization trend in the microfluidic market is one of the major trends fueling the industry growth. Integration of microfluidics with other technologies enables development of compact lab-on-chip systems. This allows performing complex analyses like polymerase chain reaction (PCR) and electrophoresis on a single microfluidic chip. Additionally, growing demand for personalized medicine and point-of-care testing is propelling the advancement of miniaturized and portable microfluidic devices with multiplexing capabilities. Researchers are investigating novel fabrication techniques like 3D printing to develop affordable microfluidic devices with improved capabilities. Such developments are expected to increase the adoption of microfluidics in biomedical applications including disease diagnostics, pharmaceutical research and treatment monitoring.
Segment Analysis
The global microfluidic market is dominated by polymer-based microfluidic chips segment. Polymer materials like PDMS (polydimethylsiloxane), COC (cyclic olefin copolymer) are extensively being used for manufacturing microfluidic chips as they are low-cost, optically transparent, non-toxic and permeable to gases. The fabrication of polymer-based microfluidic chips is also easier and more flexible as compared to silicon or glass chips. These advantages have made polymer-based microfluidic chips the dominant segment in the overall microfluidic market.
Key Takeaways
The Global Microfluidic Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to increase from US$ 25.69 Mn in 2024 to US$ 53.62 Mn by 2031, growing at a CAGR of 4.0%.
Regional analysis
North America region currently dominates the microfluidic market owing to high presence of major players and wide adoption of microfluidic technologies in applications like in-vitro diagnostics, proteomics and genomic studies in the region. However, Asia Pacific region is expected to register fastest growth during the forecast period due to rising healthcare expenditure, growing biotechnology industry and increasing focus on development of point-of-care devices in countries like China and India.
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 and Adidas AG hold majority market share owing to wide product portfolio and strong brand image. While domestic players like Borosil and Milton cater to the bulk of regional demand. H2O International SA and SIGG Switzerland Bottles AG focus on developing innovative and sustainable packaging solutions.
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