According to the latest report by IMARC Group, titled, “Microfluidics Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, The global microfluidics market size reached a value of US$ 20.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.4 Billion by 2027, exhibiting a CAGR of 16.47% during 2022-2027.
Microfluidics refers to the technology that relies on a set of tools or systems to manipulate small volumes of fluids and control chemical, physical, and biological processes. It can be integrated with electronic and optical elements for the construction of operational sensors utilizing lithographic techniques. Microfluidics is widely utilized in biomedical applications, including tissue engineering and wound healing. Presently, various advanced fabrication technologies, like two-photon polymerization (2PP), help in fabricating miniature microfluidic components, such as microneedles, microfilters, micromixers, etc. These components offer numerous benefits, including unique three-dimensional (3D) capabilities, extreme resolution, sufficient versatility, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Microfluidics Market Trends:
The sudden outbreak of the COVID-19 pandemic is primarily driving the microfluidics market by catalyzing the demand for detection approaches based on this technology, which can aid in developing rapid, effective, and easy-to-use clinical detection techniques. Moreover, microfluidics has several advantages, such as high sensitivity, specificity, controlled fluid handling, low volume sampling, etc., which are augmenting the global market. Besides this, the growing prevalence of acute and chronic diseases across countries is further bolstering the product demand. Additionally, the increasing adoption of microfluidics for blood analysis and Point-of-Care (POC) testing of cancer and infectious diseases is acting as another growth-inducing factor. Apart from this, the expanding popularity of nanofibers in tissue engineering and regenerative medicine is propelling the market growth since microfluidics enables the custom-made fabrication of nanofibers in a broad range of materials and morphologies. This, in turn, is anticipated to fuel the global microfluidics market over the forecasted period.
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Microfluidics Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Agilent Technologies Inc., Bio-Rad Laboratories Inc., Blacktrace Holdings Ltd, Elvesys Group, Fluidigm Corporation, Illumina Inc., Micronit B.V., Parker-Hannifin Corporation, PerkinElmer Inc., Qiagen N.V. and Thermo Fisher Scientific Inc.
The report has segmented the market on the basis on material, component and application.
Breakup by Product:
- Oral Contraceptive Pills
- Intrauterine Device (IUD)
- Injectable Birth Control
- Vaginal Rings
- Others
Breakup by Hormone:
- Progestin-only Contraceptive
- Combined Hormonal Contraceptive
Breakup by Age Group:
- 15-24 Years
- 25-34 Years
- 35-44 Years
- Above 44 Years
Breakup by End User:
- Hospitals and Clinics
- Homecare
- Ambulatory Surgical Centers
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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