India Microfluidics Market to Grow with a CAGR of 12.88% through 2028
Rising adoption of microfluidics technologies in drug
delivery systems and need for cost-effective testing in healthcare and
diagnostics is expected to drive the India Microfluidics Market growth in the
forecast period, 2025-2029.
According to TechSci Research report, “India Microfluidics
Market -Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2028”, the India Microfluidics Market stood at USD 612.32 Million in 2023 and is
anticipated to grow with a CAGR of 12.88% in the forecast period, 2025-2029. The
India Microfluidics market is propelled by several key factors. Advances in
nanotechnology and microfabrication technology have significantly boosted the
development and adoption of microfluidic devices.
Additionally, the rising prevalence of chronic
diseases and the growing demand for point-of-care testing in India contribute
to the market growth. The increased use of microfluidics in drug discovery and
life science research processes also acts as a major driving force. The supportive
governmental policies and the rising investments in the healthcare sector
accentuate these trends even further.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "India Microfluidics Market”
Microfluidics technology, a rapidly emerging field, is
making significant inroads in India's healthcare and diagnostic sectors. The
Indian microfluidics market is experiencing substantial growth, driven by an
increasing demand for diagnostic devices, particularly those used for point-of-care
testing and high-throughput screening. One of the key reasons for the growing
adoption of microfluidics in India is its ability to manipulate and analyze
minuscule amounts of sample volumes. This capability has proven instrumental in
enhancing the accuracy and speed of diagnostic processes, providing patients
with quicker and more reliable results. Microfluidic devices have shown great
potential in improving the efficiency of healthcare systems, ultimately leading
to better patient outcomes.
In addition to the healthcare sector, the surge in
biotech and pharma research and development activities in the country is also
contributing to the ascension of the microfluidics market. Microfluidic systems
are being employed in various areas such as drug discovery and development,
cell biology research, and personalized medicine. Their versatility and
efficiency make them a valuable tool in reducing operational costs and time,
making them an attractive choice for pharmaceutical companies. Moreover, the Indian
government's encouraging policies, such as the "Make in India"
initiative, have created a conducive environment for the growth of
microfluidics. The initiative's focus on boosting the manufacturing sector has
been instrumental in encouraging both domestic and foreign investment in the
medical devices sector, including microfluidics. This has not only led to the
expansion of the market but has also fostered innovation and the development of
indigenous technologies.
Despite the immense potential, there are several
challenges that could potentially hinder the growth of the microfluidics market
in India. One significant challenge is the lack of standardization and
regulatory guidelines specific to microfluidic devices. The absence of clear
guidelines and standards can create uncertainty and hinder the development and
commercialization of these devices. Additionally, the high capital investment
required for microfluidic device manufacturing and the need for technically
skilled professionals to operate these devices are other significant obstacles
that need to be addressed.
However, despite these challenges, the future of the
microfluidics market in India looks promising. Advances in nanotechnology and
the rising prevalence of chronic diseases necessitating advanced diagnostic
solutions further drive the demand for microfluidic technologies. As India
continues to establish itself as a global hub for medical research and
healthcare innovation, the microfluidics market will likely witness substantial
growth, offering a plethora of opportunities for firms operating in this space.
The convergence of healthcare, technology, and innovation in India presents a
fertile ground for the continued expansion and success of the microfluidics
industry.
The India Microfluidics Market is segmented into product
type, material, application, end user, regional distribution, and company.
Based on application, in-Vitro Diagnostics (IVD) is
currently dominating the microfluidics market in India, and this can be
attributed to several factors. there has been a significant increase in the
incidence of chronic and infectious diseases, which has created a pressing need
for advanced diagnostic techniques. In this regard, IVD plays a critical role
by providing accurate and timely diagnoses. There is a growing awareness among
the population about the importance of early disease detection and prevention.
This has led to a higher demand for IVD technologies, as they enable early
detection of diseases and prompt intervention, ultimately improving patient
outcomes. Furthermore, the Indian government has been actively involved in the
development of healthcare infrastructure, with a focus on enhancing diagnostic
capabilities. This has created a conducive environment for the growth of IVD in
the country, as it aligns with the government's vision of providing accessible
and quality healthcare to all.
The adoption of point-of-care testing has also
contributed to the dominance of IVD in the Indian microfluidics market.
Point-of-care testing allows for rapid and convenient diagnostic testing at the
bedside or in remote locations, enabling timely decision-making and improving
patient care. The combination of increasing disease burden, growing awareness,
government initiatives, and the adoption of point-of-care testing has
positioned IVD as the leading player in the microfluidics market in India.
Based on region, the West region of India stands out
as a dominant player in the microfluidics market, driven by its advanced
healthcare infrastructure and substantial investments in research and
development. This region boasts a multitude of renowned hospitals and esteemed
medical research institutions, which serve as pioneers in the adoption of
cutting-edge technologies such as microfluidics. Moreover, the strong presence
of key market players, coupled with government initiatives aimed at promoting
the biotech and healthcare sectors, provides a significant impetus to the
growth of the microfluidics market in this region.
This thriving ecosystem fosters collaboration between
academia, industry, and healthcare providers, facilitating the seamless
translation of research discoveries into practical applications. The West
region's commitment to innovation and continuous improvement further solidifies
its position as a hub for advancements in microfluidics technology. As a
result, the region is witnessing a surge in the development of novel
microfluidic devices and solutions that have the potential to revolutionize
diagnostics, drug discovery, and personalized medicine. With its rich
expertise, state-of-the-art infrastructure, and supportive ecosystem, the West
region of India is poised to continue leading the way in the microfluidics
market, driving advancements that positively impact healthcare outcomes and
contribute to the overall progress of the industry.
Major companies operating in India Microfluidics
Market are:
- AQC Chem. Lab Pvt Ltd.
- Bio-Rad Laboratories India
Pvt Ltd
- Abbott India Ltd
- PerkinElmer India Pvt Ltd
- Miroculus India
- Thermo Fisher Scientific
India
Download Free Sample Report
Customers can also request for 10%
free customization on this report
“The future of the microfluidics market in India
appears promising, driven by advancements in technology and growing healthcare
needs. Microfluidics, a technology manipulating and controlling fluids at the
sub-millimeter scale, has significant applications in diagnostics, drug
delivery, and genetic analysis. Continued research and development in these
fields, coupled with India's expanding biotechnology and pharmaceutical
sectors, are expected to catapult the growth of the microfluidics market.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“India Microfluidics Market
By Product Type (Microfluidic Chips, Microfluidic Sensors, Microfluidic Pumps,
Microneedles, Others), By Material (Polymer, Glass, Silicon, PDMS, Other), By Application
(In Vitro diagnostics (Point-of-Care Testing, Clinical Diagnostics,
Environmental Testing, Industrial Testing, Agro Food Testing), Pharmaceutical
Research (Lab Analytics, Microdispensing, Microreaction), Drug Delivery
(Inhaler Nozzles, Microneedles, Micropumps), By End User (Hospitals &
Diagnostic Centres, Academic & Research Institutes, Pharmaceutical &
Biotechnology Companies), By Region, Competition, Forecast & Opportunities,
2019-2019F”, has evaluated
the future growth potential of India Microfluidics Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also identifies
and analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India Microfluidics Market.
Contact
Mr.
Ken Mathews
708
Third Avenue,
Manhattan,
NY,
New
York – 10017
Tel:
+1-646-360-1656
Email:
[email protected]
Website:
www.techsciresearch.com