Microfluidics Market to Reach USD 29.43 Billion By 2027 | CAGR of 10.6%: Emergen Research

VANCOUVER, B. C., Sept. 22, 2020 /PRNewswire/ -- The Global Microfluidics Market is expected to reach USD 29.43 Billion by 2027, according to a new report by Emergen Research. Increasing usage of microfluidics to enhance healthcare, enabling early identification of pathogens, expanded flexibility, and simple tracking to target underserved and remote communities would fuel demand development for the Microfluidics market.

The installation of microfluidics technology into existing systems will be a major restraining factor in market growth. Rapid developments in the biomedical, pharmaceutical, and biotechnology industries have contributed to the inadequate application of microfluidics technologies within the current healthcare structure.

The demand for microfluidic-based pumps is projected to see substantial growth in the forecast years as microfluidic systems are increasingly being used in laboratory settings to conduct a wide variety of applications, such as evaluating characteristics such as pH, chemical bonding coefficients, viscosity, and other applications for cell manipulation. The fast and reliable response, non-requirement of advanced equipment, low cost, and portability are predicted to be critical factors in the growth of the diagnostic section point-of-care (POC).

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Key Highlights From The Report

• The medical technology led the revenue-based market. Microfluidics offers POC diagnostics with three key benefits: quicker processing times, smaller sample sizes, and reduced test costs. Such advantages are being utilized slowly to establish POC instruments for the treatment and prevention of different illnesses, from cancer to infectious diseases.
• The demand for polymer-based microfluidics is projected to witness healthy development over the forecast timeline. A major factor boosting market growth would be the wide variety of applications of polymer-based microfluidics in the area of tissue engineering, medicine, and biology.
• The laboratory-on-a-chip category accounted for a large share of the microfluidics industry in 2019 and is projected to retain its supremacy throughout the forecast period. Lab-on-a-chip offers fast detection speed and also helps the DNA probes to be sequenced easily.
• North America dominated the market for microfluidics in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The North America region held approximately 39.8% of the market, followed by the Asia Pacific, in the year 2019
• Key participants include Fluidigm Corporation, F. Hoffmann-La Roche Ltd., Agilent Technologies Inc., Bio-Rad Laboratories Inc., Abbott Laboratories Thermo Fisher Scientific, Micronit Micro Technologies B.V., Life Technologies Corporation, Danaher Corporation, Illumina Inc., and PerkinElmer Inc, among others.

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For the purpose of this report, Emergen Research has segmented the Global Microfluidics Market on the basis of technology, material, application, and region:

Technology Outlook (Revenue: USD Billion; 2017-2027)

• Medical
• Non-Medical

Material Outlook (Revenue: USD Billion; 2017-2027)

• Silicon
• Glass
• Polymer
• PDMS
• Others

Application Outlook (Revenue: USD Billion; 2017-2027)

• Lab-on-a-chip
• Organs-on-chips
• Continuous flow microfluidics
• Optofluidics and Microfluidics
• Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

o  North America

1.  U.S.

2.  Canada

o  Europe

1.  Germany

2.  U.K.

3.  France

4.  Benelux

5.  Rest of Europe

o  Asia Pacific

1.  China

2.  Japan

3.  South Korea

4.  Rest of APAC

o  Latin America

1.  Brazil

2.  Rest of LATAM

o  Middle East & Africa

1.  Saudi Arabia

2.  UAE

3.  Rest of MEA

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SOURCE Emergen Research