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The Global microfluidics market for healthcare application size is forecast to increase by USD 43.27 billion between 2022 and 2027, accelerating at a CAGR of 19.81%. In 2017, the US held the largest market share, projecting an annual revenue of USD 4.80 billion. The market growth analysis report offers extensive research analysis on the market, with a categorization based on Application, including In-vitro diagnostics, Pharmaceutical research, and Drug delivery services. It further segments the market by Material, encompassing Polymer-based, Glass-based, and Silicon-based. Additionally, the report provides geographical segmentation, covering North America, Europe, APAC, South America, and Middle East and Africa. Market research and growth report includes the market size, historical data (2017-2021), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
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The compact size of microfluidic devices is a key factor driving the market growth. Microfluidic devices, being compact and using smaller reagent volumes, lead to cost savings and reduced medical waste. Their small size, high surface-to-volume ratio, and low thermal mass enable precise temperature control, rapid heat transfer, and quick adaptation to temperature changes. This ensures fast liquid diffusion, improving reaction accuracy and speed, thereby enhancing assay performance, reducing measurement time, and increasing sensitivity. For example, microfluidic devices minimize dispersion in electrophoretic separations through efficient Joule heat dissipation, leading to sharper peaks and improved sensitivity.Additionally, microfluidic devices are employed to optimize fluid temperature by passing it through chip regions with varying temperatures, further driving growth in the healthcare microfluidics market.
The in-vitro diagnostics segment was valued at USD 8.46 billion in 2017 and continued to grow until 2021. The market share growth by the in-vitro diagnostics segment will be significant during the forecast period. In-vitro diagnostics is a large part of microfluidic healthcare applications. The scope of microfluidics in diagnostics is significant. Microfluidic diagnostic kits take full advantage of compact integrated systems for rapid turnaround, providing immediate results and reducing costs. Cepheid's automated microfluidic polymerase chain reaction (PCR) is another system used for rapid screening and diagnosis of methicillin-resistant Staphylococcus aureus (MRSA) infections in hospitals. It helped doctors track their patients' health regularly and patients monitor their own health. Such advantages have caused a huge wave of investment in the market.
North America is estimated to contribute 44% to the growth of the global market during the forecast period. The growth of the microfluidics market for healthcare applications in North America is the presence of several medical device manufacturers in the region. Some of the top vendors in the region include Baxter, Beckman Coulter, BD, Boston Scientific, GENERAL ELECTRIC, Johnson and Johnson Services, Medtronic, St. Jude, and Stryker. These firms are increasing their investment in the design and delivery of an extensive range of medical devices, which Technavio predicts will integrate an extensive number of microfluidics devices. This is expected to fuel the growth of the focused market in North America.
The market in North America is also driven by the increasing requirements for medical devices in the region. The US is the largest market for medical devices, and it is also the major exporter of such devices. The US medical devices market was valued at approximately USD 176 billion in 2020, and it is one of the most lucrative markets in terms of sales in the world. The US is expected to continue to lead the global medical devices market during the forecast period. The increasing aging population in the US and the growing healthcare spending by the US government in medical research and development are the main factors that drive the demand for medical devices in the domestic and global markets.
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The market is fragmented in nature. Some significant players include 908 Devices Inc., Agilent Technologies Inc., bioMerieux SA, Bio Rad Laboratories Inc., Blacktrace Holdings Ltd.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Cellix Ltd., Danaher Corp., Elveflow, Fluigent SA, General Electric Co., Hamilton Bonaduz AG, Illumina Inc., Microfluidic Chipshop GmbH, MICRUX FLUIDIC S.L., Perkin Elmer Inc., SMC Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., uFluidix Inc., and QIAGEN NV
Market Analysis
The market is at the forefront of revolutionizing testing and analysis processes, ensuring precision in results while minimizing reagent consumption. With a focus on drug development, the market aims to reduce costs and enhance efficiency through the adoption of point-of-care test kits and technological improvements. Microfluidic components play a crucial role in medicines, biosensing, bioactuation, and chemical synthesis, contributing to advancements in clinical studies. The integration of AI (Artificial Intelligence) and the incorporation of microfluidics into existing workflows mark significant strides in drug discovery and development processes.
The market witnesses the expansion of applications in drug delivery technologies, including implantable drug delivery systems, portable and wearable products, insulin pumps, and micro-pumping techniques. Offering accurate and reliable drug delivery, microfluidic device applications in various segments, such as point-of-care testing devices, in vitro diagnostics, PCR systems, electrophoretic systems, and more. With a wide-ranging impact on diagnostic, pharmaceutical, and biotechnology companies, as well as hospitals and diagnostic centers, the microfluidic market is instrumental in advancing proteomics and genomics technologies, diagnostic procedures, and healthcare expenditure.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
Microfluidic Market For Healthcare Application Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.81% |
Market growth 2023-2027 |
USD 43.27 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
14.44 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
908 Devices Inc., Agilent Technologies Inc., bioMerieux SA, Bio Rad Laboratories Inc., Blacktrace Holdings Ltd., Cellix Ltd., Danaher Corp., Elveflow, Fluigent SA, General Electric Co., Hamilton Bonaduz AG, Illumina Inc., Microfluidic Chipshop GmbH, MICRUX FLUIDIC S.L., Perkin Elmer Inc., SMC Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., uFluidix Inc., and QIAGEN NV |
Market dynamics |
Parent market analysis,Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
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