Enjoy complimentary customisation on priority with our Enterprise License!
The microfluidics technology market size is valued to increase by USD 31.47 billion, at a CAGR of 20.28% from 2023 to 2028. Increasing applications in molecular biology will drive the microfluidics technology market.
Get Key Insights on Market Forecast (PDF) Request Free Sample
Microfluidics technology, encompassing digital microfluidics and various applications such as point-of-care diagnostics, cell sorting systems, lab automation, and lab-on-a-chip devices, continues to revolutionize industries. Compared to traditional methods, microfluidics technology offers a 30% reduction in sample volume for biological sample preparation and a 50% improvement in flow rate control through microfluidic pumps and valves. These efficiencies translate to significant cost savings and increased return on investment for businesses. Furthermore, microfluidics technology enables high-throughput screening and single-cell analysis, crucial for drug discovery and development. Advanced fabrication techniques, including microfabrication and 3D printing microfluidics, facilitate the creation of complex microfluidic channels, mixers, sensors, and valves. Surface modification, channel geometry optimization, and fluidic control systems ensure biocompatibility and precise fluidic resistance control. Applications extend to drug delivery systems, microfluidic sensors, and tissue engineering, demonstrating the versatility and impact of this technology on various industries.
The significant growth in molecular biology, characterized by a surge in applications, serves as the primary catalyst for market expansion.
The growing adoption of microfluidics technology represents a notable market trend in the cosmetics industry. Microfluidics technology's increasing utilization is a significant development in the cosmetics sector.
Microfluidic technology faces significant inherent challenges that have an impact on the industry's growth. These challenges, which are inherent to the technology, must be addressed to ensure continued progress and expansion within the industry.
The microfluidics technology industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The polymer-based microfluidics segment is estimated to witness significant growth during the forecast period.
Microfluidics technology continues to evolve, revolutionizing various industries with its miniaturized lab systems. Integral components include microfluidic channels, mixers, valves, and sensors, enabling applications in point-of-care diagnostics, cell sorting systems, drug delivery, and lab automation. Polydimethylsiloxane (PDMS), a commonly used material, offers advantages like low cost, ease of fabrication, and versatility. PDMS, with a low elastic modulus and gas permeability, is widely adopted in research laboratories. Advanced microfluidic fabrication techniques, such as microfabrication, 3D printing, and numerical simulation, enhance the technology's capabilities.
Innovations include high-throughput screening, magnetic microfluidics, acoustic microfluidics, and tissue engineering. PDMS microfluidic devices account for a significant market share due to their flexibility and compatibility with biological samples. Approximately 70% of microfluidic research laboratories utilize PDMS devices for their experiments.
The Polymer-based microfluidics segment was valued at USD 7.28 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 31% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
See How Microfluidics Technology Market Demand is Rising in Europe Request Free Sample
The market is experiencing significant growth, with North America leading the charge. This region, comprised of the US, Canada, and Mexico, accounts for the largest revenue share in the market. A primary driver of this demand is the substantial investment in healthcare research and testing in the US. For instance, the National Institutes of Health (NIH) allocates approximately USD32 million annually for medical research. This funding fuels advancements in healthcare, thereby propelling the market forward. Innovative applications of microfluidics technology are also emerging. For example, researchers at Rice University in the US have developed a device that utilizes microfluidics to implant flexible and conductive carbon nanotube fibers in the brain, offering a less invasive alternative to traditional implant methods.
This technology holds potential to revolutionize neuroscience research and improve patient outcomes. The market's evolution is further characterized by continuous advancements in technology, expanding applications, and increasing demand for cost-effective, efficient solutions in various industries, including healthcare, biotechnology, and pharmaceuticals.
Customer Landscape of Microfluidics Technology Industry
Companies are implementing various strategies, such as strategic alliances, microfluidics technology market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Agilent Technologies Inc. - The Agilent 2100 Bioanalyzer is a leading microfluidics technology used for high-sensitivity nucleic acid and protein analysis. This innovative tool enables researchers to assess sample quality and quantity, facilitating accurate downstream applications in various industries. With its advanced capabilities, the Agilent 2100 Bioanalyzer sets new standards for research and development in life sciences and diagnostics.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Microfluidics Technology Market insights. See full methodology.
Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.28% |
Market growth 2024-2028 |
USD 31474.9 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
17.17 |
Key countries |
US, China, UK, Germany, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."
The market is experiencing significant growth due to the increasing demand for PDMS microfluidic device fabrication in various industries. Pressure-driven flow control systems and high-throughput cell sorting systems are key applications driving this growth. In the field of single cell analysis, microfluidic devices are becoming increasingly important, with integrated microfluidic sensors for drug delivery enabling precise and efficient drug testing. 3D printed microfluidic channel designs offer customizable solutions for microfluidic mixer optimization, while the development of microfluidic assays for biological samples is revolutionizing diagnostics, particularly for point-of-care applications. Surface modification techniques for biocompatibility are crucial for ensuring the success of these devices, as is the numerical simulation of microfluidic flow for optimizing microfluidic network design. The optimization of microfluidic mixer design is a critical aspect of microfluidics technology, with fluidic resistance and pressure drop calculations essential for efficient sample processing. In the realm of particle manipulation, design of microfluidic channels and integration of microfluidic sensors with imaging techniques are key areas of research. Control of concentration gradients in microfluidic devices is another important application, with electrokinetic flow manipulation in microfluidic channels and acoustic microfluidics for cell manipulation offering innovative solutions. Magnetic microfluidics for particle separation is another area of growth, with potential for significant market share due to its ability to manipulate particles with high precision. Compared to traditional laboratory techniques, microfluidics technology offers significant advantages in terms of operational efficiency and cost savings. For instance, microfluidic platforms for tissue engineering applications can process multiple samples in parallel, reducing the time and resources required for large-scale experiments. This makes microfluidics technology an attractive option for businesses seeking to streamline their supply chain and improve compliance with regulatory requirements.
What is the expected growth of the Microfluidics Technology Market between 2024 and 2028?
USD 31.47 billion, at a CAGR of 20.28%
What segmentation does the market report cover?
The report is segmented by Material (Polymer-based microfluidics, Glass-based microfluidics, Silicon-based microfluidics, and Others), End-user (Hospitals, Diagnostic centers, and Academic institutes), and Geography (North America, Europe, Asia, and Rest of World (ROW))
Which regions are analyzed in the report?
North America, Europe, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Increasing applications in molecular biology, Inherent challenges in microfluidic technology
Who are the major players in the Microfluidics Technology Market?
Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Biocartis NV, BioFluidix GmbH, Blacktrace Holdings Ltd., Cellix Ltd., Danaher Corp., Elveflow, Epigem Ltd., F. Hoffmann La Roche Ltd., Fluigent SA, iBiochips, IDEX Corp., Illumina Inc., Perkin Elmer Inc., QIAGEN NV, SMC Corp., Standard BioTools Inc., and Thermo Fisher Scientific Inc.
We can help! Our analysts can customize this microfluidics technology market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Material
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.