Global Microfluidic Devices Market to Surge to US$ 45.18 Billion by 2030 with Technological Advancements Driving Growth

DUBLIN, Jan. 24, 2024 /PRNewswire/ -- The "Global Microfluidic Devices Market (By Device Type, Material, Application, Industry and Region), Key Company Profiles, Trends, SWOT Analysis, and Recent Developments - Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

According to a recent comprehensive market research report, the global microfluidic devices market is anticipated to reach an astonishing US$ 45.18 billion by the year 2030. The current valuation as of 2023 stands at US$ 17.68 billion, which marks a significant expansion, particularly driven by advancements in fields such as point-of-care testing, biomedical applications, and drug delivery systems. The report offers an in-depth analysis covering key market segments, trends, SWOT analysis, and regional growth prospects.

Key Highlights and Recent Developments in the Microfluidic Devices Market

The market research report unveils a series of recent developments that underscore the dynamic progress within the microfluidic devices sector:

• Bolstered by mergers and acquisitions, major industry players are consolidating their positions to offer comprehensive multi-omics tools for pioneering research.
• Investments in innovative microfluidic technologies are skyrocketing as companies seek to fabricate devices at reduced costs while enhancing usability and diagnostic capabilities.

The forecast period is set to witness prolific growth driven by the combined forces of prolific R&D investments and escalating demand for precise, rapid medical diagnostics.

Microfluidic Devices Market Insights by Device Type, Material, and Application
Detailed insights into various market segments reveal that:

• The chips segment leads in market share, spurred by a multitude of applications across diagnostics, drug delivery, and biomedical testing.
• Polymer-based microfluidic devices are emerging as a highly desirable segment due to their cost-effectiveness and rapid fabrication potential.
• Applications in pharmaceutical and life science research domains are paramount, however, point-of-care diagnostics are set to revolutionize personalized medicine approaches.

Industry and Regional Perspectives
In the industry-wide analysis, the report illustrates that:

• In-vitro diagnostics currently dominate the market, a trend that is anticipated to continue given the advanced applications of microfluidic devices.
• Geographically, North America maintains an authoritative lead, fueled by robust healthcare research activities and an increasing prevalence of lifestyle diseases.
• Europe and the Asia Pacific regions are not far behind, with significant contributions from countries focusing on healthcare innovation and infrastructure.

Market Dynamics and Forecast Projections
Providing a comprehensive overview of market dynamics, the report furnishes a SWOT analysis revealing strengths such as improved portability and faster diagnostic capabilities, while also discussing potential industry challenges.

The exhaustive report, encompassing 176 pages, 83 figures, and 10 tables, presents a meticulous forecast up until the year 2030. It evaluates the market from 10 different perspectives to provide stakeholders with a multifaceted understanding of current trends, predictions, and strategic developments shaping the future of microfluidic devices globally.

With the inclusion of extensive data analyses, key company profiles, and region-specific insights, the report stands as a valuable resource for entities operating within the microfluidic devices landscape, as well as for those looking to enter the market.

Companies Mentioned

• Abaxis Inc. (Now part of Zoetis)
• Abbott Laboratories
• Agilent Technologies Inc.
• ALine Inc.
• Becton, Dickinson and Company (BD)
• BioFluidix Gmbh (Acquired by Hamilton)
• biosurfit SA
• Blacktrace Holdings Ltd. (Acquired by Unchained Labs)
• Danaher Corporation
• Fluigent
• Hamilton Company
• Illumina, Inc.
• Koninklijke Philips N.V.
• Micronit
• Micropoint Biotechnologies Co., Ltd.
• NanoEnTek Inc.
• Nanōmix, Inc. (Formerly known as Covalent Materials, Inc.)
• OPKO Health, Inc.
• PerkinElmer, Inc. (Now Revvity, Inc.)
• QuidelOrtho Corporation
• Siloam Biosciences, Inc. (Acquired by MiCo BioMed)
• Standard BioTools Inc. (Previously Fluidigm)
• Thermo Fisher Scientific Inc.
• uFluidix

For more information about this report visit https://www.researchandmarkets.com/r/ygg75f

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