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Microfluidic market for healthcare application size is estimated to grow at a CAGR of 20.16% between 2022 and 2027. The microfluidic market for healthcare application size is forecast to increase by USD 59.76 billion. The growth of the market depends on several factors, including the compact size of microfluidic devices, growth in lifestyle diseases, and advances in DNA sequencing.
This microfluidic market for healthcare application report extensively covers market segmentation by application (In-vitro diagnostics, pharmaceutical research, and drug delivery services), material (polymer-based, glass-based, and silicon-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges.
Microfluidic Market for Healthcare Application shows accelerated growth during the forecast period
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The compact size of microfluidic devices is notably driving the microfluidic market for healthcare application growth. Microfluidic devices are compact and use fewer reagents, resulting in lower costs and less medical waste. The large surface area-to-volume ratio and low thermal mass of these devices facilitate precise temperature control, rapid heat transfer, and rapid adaptation to temperature changes. Due to the small size of microfluidic devices, the rapid diffusion of liquids improves the accuracy and speed of reactions. This improves the performance of microfluidic assays, shortens measurement times, and increases assay sensitivity.
For example, microfluidic devices can help reduce dispersion broadening in electrophoretic separations by rapidly dissipating Joule heat. Shortening the measurement time reduces peak broadening and thus improves sensitivity for some separations. Also, microfluidic devices are used to recycle fluid temperature by forcing the fluid to flow through different chip regions at different temperatures. Such factors are anticipated to drive the growth of the microfluidics market for healthcare applications during the forecast period.
The use of paper-based microfluidic devices is a key trend influencing the microfluidic market for healthcare application growth. Paper-based microfluidic devices use hydrophobic channel walls printed on paper. These hydrophobic walls ensure controlled velocity and direction of liquid flow. Using paper in the manufacture of such devices greatly reduces the cost of these devices and simplifies their disposal. In 2020, paper-based technology was limited to simple design devices. However, the fabrication of microfluidic devices from paper technology is expected to have a significant impact on the microfluidic market during the forecast period. One of the first steps in the treatment of any disease is to perform a diagnostic analysis of the patient. There are several disease-detection devices and instruments on the market, but they are very expensive.
Additionally, these devices and equipment require trained professionals to operate, further increasing costs. To overcome these problems, researchers are focusing on developing paper-based microfluidic devices. In this process, the substrate for generating microfluids consists of paper. Paper microfluidic devices are inexpensive and environmental friendly. Therefore, these devices are in great demand in both developed and developing countries. Another key feature making paper microfluidics a major trend in the global microfluidics market for healthcare applications is the ability to instantly perform multiple medical tests using chips. This can be done when there is an urgent need or in remote areas where basic facilities such as electricity are not available to power medical equipment. All these factors make them highly attractive and are likely to drive the growth of the market.
The changes in the properties of fluids at the microscopic level are challenging the microfluidic market for healthcare application growth. Microfluidics tend to change their physical properties at the microscopic level. A fluid behaves very differently at the micro-scale compared to using the same fluid at the macro scale. At a smaller level, features such as surface tension, fluid resistance, and energy dissipation come to the fore. The Reynolds number compares the effect of the momentum of a liquid to the effect of its viscosity. At the micron level, the Reynolds number becomes very low, and the flow becomes laminar instead of turbulent. In laminar flow, liquids mix only by diffusion processes. Diffusion is a rather slow mechanism that makes reactions in microfluidic devices more difficult to achieve. As a result, measurement errors can occur that can lead to erroneous readings in multiple medical tests.
Another important property to consider in drug testing is slip resistance. At the micro level, no slip occurs between liquids and solids. Liquid molecules adhere to a solid surface and the liquid moves against it. This indicates that the bottom remains stationary while the top of the liquid moves at the same speed. This leads to the formation of shear stress, an important factor to consider in drug testing. Shear stress should be considered when designing microfluidic chips, as increased shear stress indicates a lack of flow, thereby limiting the study of cell interactions. Therefore, shear stress must be modeled or calculated when designing microfluidic devices such as chips. Such factors are expected to hinder the growth of the microfluidics market for healthcare application during the forecast period.
The market share growth by the in-vitro diagnostics segment will be significant during the forecast period. In-vitro diagnostics are 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.
The in-vitro diagnostics segment was valued at USD 8.46 billion in 2017 and continued to grow until 2021.
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Large companies are interested in In-vitro diagnostics technology and are investing in or acquiring smaller companies in this space. Such factors are anticipated to drive the growth of the in-vitro diagnostics segment of the microfluidics market for healthcare applications during the forecast period.
North America is estimated to contribute 45% to the growth of the global microfluidic market for healthcare application during the forecast period.
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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The growth of the microfluidics market for healthcare application in North America is due to the presence of multiple medical device manufacturers in the region. Some of the leading providers in the region include Baxter, Beckman Coulter, BD, Boston Scientific, General Electric, Johnson and Johnson Services, Medtronic, St. Jude, and Stryker. These companies are increasing their investment in the design and delivery of a wide range of medical devices, which Technavio predicts will integrate numerous microfluidic devices. This is intended to drive growth in the microfluidics market for healthcare application.
COVID-19 in 2020 and 2021 increased research and testing activities related to COVID-19 at local laboratories, pharmaceutical companies, and diagnostic centers. Increased research activity has increased the demand for microfluidic technology, resulting in increased demand for microfluidic medical devices. The funding helped meet the needs of various types of microfluidic devices required by medical institutions for their research. Therefore, in 2020, the market for microfluidics for healthcare applications grew significantly. The growing interest in new drug development across a wide range of therapeutic areas by pharmaceutical and biopharmaceutical companies and the increasing number of diagnostic laboratories and research centers were the major factors that drove the growth of the microfluidics market for healthcare application.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Microfluidic Market for Healthcare Application Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
908 Devices Inc: The company offers desktop mass spectrometry devices and microfluidics for healthcare applications such as microfluidic CE.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The microfluidic market for healthcare application report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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Microfluidic Market For Healthcare Application Market Scope |
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Report Coverage |
Details |
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Page number |
166 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 20.16% |
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Market growth 2023-2027 |
USD 59.76 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
19.47 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 45% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 |
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Market dynamics |
Parent market analysis, 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 |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Material
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor 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
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