Microfluidics Market to Grow with a CAGR of 22.70% through 2029
Rising demand for
point-of-care testing and increasing number of the elderly population & the
spread of chronic diseases worldwide is expected to drive the Global Microfluidics
Market growth in the forecast period, 2025-2029.
According to
TechSci Research report, “Microfluidics Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2029”, the
Global Microfluidics Market stood at USD
24.48 Billion in 2023 and is anticipated to grow with a CAGR of 22.70%
in the forecast period, 2025-2029. The anticipated increase in demand for
point-of-care (POC) devices is expected to significantly boost the market size
in the coming years. There is a notable demand for low-volume sample analysis,
In Vitro Diagnostics (IVD), high-throughput screening methodologies, and the
development of advanced lab-on-a-chip technologies, which further contribute to
the market growth of microfluidics over the analysis timeframe. Microfluidics
offers a high return on investment and helps control costs by minimizing
errors. Other key factors driving the market growth for microfluidics include
the increasing adoption of microfluidics technology and devices in
point-of-care diagnostics, advancements in diagnostic devices, and the rising
incidence of chronic diseases worldwide. These factors collectively contribute
to the growing demand for molecular diagnosis and positively impact the market
growth of microfluidics.
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"Global Microfluidics Market”
Microfluidic
devices offer a significant advantage in the analysis of small sample volumes,
reducing reagent waste and preserving hard-to-produce samples. The demand for
low-volume sample devices has been driven by the introduction of microfluidics
devices and the increased research activities of analytical and clinical
researchers. Compared to the conventional method of genome analysis, which
requires decoding the entire DNA, microfluidics devices require only a small
volume of samples for data interpretation, thereby reducing analysis costs and
time. The adoption of microfluidics has enabled the miniaturization of
conventional laboratory procedures onto a lab-on-a-chip platform.
The introduction
of point-of-care diagnostics by multiple market players has facilitated early
disease diagnosis and reduced hospital visits. With advancements in technology,
market players now differentiate their products by incorporating minimally
invasive features, accuracy, and speed. Microfluidics has thus made significant
contributions to the in-vitro diagnostics (IVD) market. Leading market players
such as Abbott, Roche, and Danaher have already integrated microfluidics
technology into their existing diagnostic devices.
Furthermore, key
players are exploring digital microfluidics, with HORIBA collaborating with
SigTuple to expedite the deployment of its AI100, an AI-assisted digital
pathology solution, in the Indian subcontinent. SigTuple's smart diagnostic
solutions, combining AI, robotics, microfluidics, and cloud computing, aim to
provide accessible and affordable quality healthcare. The increasing adoption
of microfluidics devices in various research and diagnostic fields has prompted
industry players to introduce advanced technologies to capture potential market
share. Many companies are currently trialing their devices and anticipate
commercialization. For example, BIOLASE, Inc. and EdgeEndo received FDA 510(k)
clearance for the EdgePRO system in January 2023. This system offers an
enhanced disinfection and cleaning alternative for root canal procedures,
utilizing laser-aided microfluidic irrigation without disrupting workflow or
significantly increasing costs per procedure. In addition, the Loschmidt
laboratories team and partners from ETH Zurich developed a microfluidic
platform in March 2021 for rapid investigation of enzymes and their properties.
The Global Microfluidics
Market is segmented into technology, material, application, regional
distribution, and company
Based on the
Material, the market is divided into several categories: Silicon, Glass,
Polymer, PDMS, and others. The market for microfluidics was predominantly influenced
by the Polydimethylsiloxane (PDMS) segment. Among various polymers, PDMS has
gained significant popularity, especially in microfluidic devices for rapid
prototyping. This can be attributed to the wide acceptance of PDMS among
academic professionals, primarily due to its ease of manufacturing and
cost-effectiveness. Notable characteristics of PDMS include flexibility,
transparency, biocompatibility, and gas permeability. However, it is important
to note that PDMS has some limitations, such as weak IR transmission behavior
and a longer curing time, which make it comparatively more challenging to work
with.
Based on region,
North America segment is expected to grow during the forecast period. North
America dominates the microfluidics market and is expected to hold a
significant share over the forecast period. This can be attributed to factors
such as the well-established healthcare system and the higher adoption of novel
therapeutics among the general population. Additionally, the region has witnessed
an increasing prevalence of infectious and chronic diseases, further driving
the demand for microfluidic technologies. The field of microfluidics in North
America is experiencing substantial growth, with considerable investments in
research and development.
For instance,
data updates from September 2021 indicate that PhRMA member companies have
invested over USD 1.1 trillion in the search for new treatments and cures,
including USD 102.3 billion in 2021 alone. These investments are expected to
contribute to the growth of the microfluidics segment during the forecast
period. Point-of-care diagnostics, utilizing microfluidic technology, play a
crucial role in various applications such as molecular diagnostics, infectious
diseases, and chronic diseases. The aim is to develop integrated microfluidic
devices that are user-friendly and provide rapid results. In August 2020,
researchers from the University of Illinois at Urbana-Champaign showcased a
prototype of a rapid COVID-19 molecular test and a portable instrument for
result interpretation using a smartphone, eliminating the need for laboratory
testing.
Furthermore, the
market in the North American region is boosted by the continuous product
launches by key market players. For example, LexaGene launched the MiQLab
system for the detection of the SARS-CoV-2 virus, expanding its use from
research-only to point-of-care applications, after receiving emergency use
authorization (EUA) in the United States in January 2021. Similarly, LumiraDx
submitted the LumiraDx SARS-CoV-2 & Flu A/B Test to the Food and Drug
Administration (FDA) for Emergency Use Authorization (EUA) in October 2021.
This microfluidic immunofluorescence assay enables quick verification of
infection for patients suspected of flu and COVID-19, aiding in diagnosis and
clinical decision-making.
Major companies
operating in Global Microfluidics Market are:
- UFluidix
- Bio-Rad Laboratories Inc.
- Emulate Inc.
- Dolomite Microfluidics (Blacktrace
Holdings Ltd)
- Sphere Fluidics Limited
- FluIdigm Corporation
- Illumina Inc.
- Micronit Microfluidics
- PerkinElmer Inc.
- Hesperos Inc.
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“The increasing
demand for microfluidics technology, advancements in diagnostic equipment, and
the rising prevalence of chronic diseases are significant drivers for market
expansion. However, the utilization of microfluidics in healthcare is
accompanied by the development of regulatory criteria, leading to delays in the
approval of microfluidic devices and hindering market growth. Additionally, the
incorporation of emerging microfluidics technology in existing applications
poses an additional barrier to market expansion. Consequently, businesses are
allocating resources to address these challenges. Rapid technological
advancements in the healthcare and pharmaceutical sectors are expected to drive
the demand for microfluidics-based products in the coming years. Currently,
microfluidics is extensively utilized in drug discovery and development,
clinical diagnostics, genomics, and proteomics. Furthermore, the increasing
popularity of portable diagnostic devices is anticipated to contribute to the
growth of the microfluidics market in the near future.,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based management consulting
firm.
“Microfluidics Market Segmented
By Technology (Medical/Healthcare, Non-medical), By Material (Silicon, Glass,
Polymer, PDMS, Others), By Application (Lab-on-a-chip, Organs-on-chips,
Continuous flow microfluidics, Optofluidics and microfluidics, Acoustofluidics
and microfluidics, Electrophoresis and microfluidics), By Region and
Competition”, has evaluated the future growth potential of Global
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 Global Microfluidics
Market.
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