Global Microfluidics Industry (2020 to 2025) - Expanding Applications of Drug Delivery Technologies Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Microfluidics Market by Product (Devices, Components (Chips, Sensors, Pump, Valves, and Needles), Application (IVD [POC, Clinical, Veterinary], Research, Manufacturing, Therapeutics), End User and Region - Global Forecast to 2025 " report has been added to ResearchAndMarkets.com's offering.

The global microfluidics market size is projected to reach USD 44.0 billion by 2025 from USD 15.7 billion in 2020, at a CAGR of 22.9% during the forecast period.

The ability of the microfluidics technology to replicate all the functions of its traditional counterparts in various healthcare applications, such as drug delivery, point-of-care (POC) diagnostics, and clinical diagnostics, is resulting in its wider adoption across the globe. In addition to this, technological advancements, increasing focus on data precision & accuracy, fast returns on investment, and faster testing & improved portability through microfluidic chip miniaturization are driving the growth of the microfluidics industry.

In 2019, in-vitro diagnostics accounted for the largest share of the market.

Based on the application, the segment of the in-vitro diagnostics accounted for the largest share of the microfluidics market in 2019. The large share of this segment can be attributed to the increasing integration of microfluidics with laboratory analytical instruments, growing need for portable diagnostic equipment, and increasing demand for point-of-care testing.

In 2019, the hospitals & diagnostic centers segment accounted for the largest share of the market.

Based on end-users, the hospitals & diagnostic centers segment accounted for the largest share of the microfluidics market in 2019. The large share of this segment is attributed to the increasing use of microfluidic-based diagnostic devices, increasing adoption of microfluidics for the rapid diagnosis of various chronic diseases, technological advancements, and the inherent advantages of microfluidics

APAC is projected to witness the highest growth during the forecast period.

The APAC microfluidics market is estimated to register the highest CAGR during the forecast period. Factors such as the growing geriatric population, growing per capita income, increasing investments in the healthcare industry, rising demand for advanced technologies, and the expansion of private-sector hospitals to rural areas in various countries in the region.

Market Dynamics

Drivers

• Rising Demand for Point-Of-Care Testing
• Technological Advancements
• Increasing Focus on Data Precision and Accuracy
• Fast Returns on Investment
• Faster Testing and Improved Portability Through Microfluidic Chip Miniaturization
• Entry of New Players and Launch of New and Advanced Products

Restraints

• Complex and Time-Consuming Regulatory Approval Process
• Incorporation of Microfluidics Into Existing Workflows

Opportunities

• Emergence of Microfluidic-Based 3D Cell Culture Systems, Such As Organ-On-A-Chip
• Asia - a Key Growth Hotspot
• Expanding Applications of Drug Delivery Technologies
• Growing Applications of Microfluidics

Challenges

• Standardization/Commercialization of Microfluidic Devices

   

Companies Profiled

• Parker-Hannifin Corporation
• Smc Corporation
• Idex Corporation
• Fluigent Sa
• Dolomite Microfluidics
• Aignep S.P.A.
• Camozzi Automation Spa Societ Unipersonale
• Elveflow
• Cellix Ltd.
• Fortive Corporation
• Danaher Corporation
• Thermo Fisher Scientific Inc.
• Perkinelmer, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Becton, Dickinson and Company
• Illumina, Inc.
• F. Hoffmann-La Roche Ltd.
• Fluidigm Corporation
• Abbott Laboratories
  

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