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The microfluidics technology market share is expected to increase by USD 29.41 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 19.42%.
This microfluidics technology market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the microfluidics technology market segmentation by material (polymer-based microfluidics, glass-based microfluidics, silicon-based microfluidics, and others), end-user (hospitals, diagnostic centers, and academic institutes), and geographic landscape (North America, Europe, Asia, and the Rest of the World (ROW)). The microfluidics technology market report also offers information on several market vendors, including Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Biocartis Group 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., PerkinElmer Inc., QIAGEN NV, SMC Corp., Standard BioTools Inc., and Thermo Fisher Scientific Inc. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges market.
Key Microfluidics Technology Market Driver
Increasing applications in molecular biology is one of the key drivers supporting the microfluidics technology market growth. Microfluidics has several applications in molecular biology, such as enzymatic analysis like glucose and lactate assays, DNA analysis, and proteomic assays. In proteomics, researchers have combined microfluidics capillary electrophoresis with mass spectrometric analysis to characterize intact monoclonal antibody-drug conjugates. This technique also helps in monitoring glycated hemoglobin to manage diabetes. Thus, microfluidic devices offer novel time-saving advantages to researchers using mass spectrometry for proteomic analysis. Thus, the increasing applications of microfluidics in molecular biology act as a key driver for the growth of the market.
Key Microfluidics Technology Market Trend
The growing use of microfluidics technology in cosmetics is one of the key microfluidics technology market trends contributing to market growth. Microfluidics technology is increasingly used in the cosmetics industry for product development and improvement. For instance, CHANEL collaborated with Capsum to gain technological expertise in microfluidics. CHANEL used microfluidics and launched a cream with camellia micro-droplets. HYDRA BEAUTY Micro Creme is an example of product innovation where microfluidics technology was used to provide a smooth texture. Thus, with the increase in demand for cosmetic products due to the rise in the disposable income of people worldwide, the demand for microfluidics technology is expected to increase during the forecast period.
Key Microfluidics Technology Market Challenge
Inherent challenges in microfluidic technology are one of the factors impeding the microfluidics technology market growth. The need for assembly, integration, and packaging before use is one of the challenges of the market. Although system components in microfluidic devices are reliable, poor assembly can affect the reliability of the system. For these devices to be reliable, the connected components must endure high pressure, offer protection in harsh environments, and the fluid input into the device must be airtight. While inserting the fluid into the device, fluidic pathways, optical pathways, and electronic pathways must be aligned for the device to function appropriately. These existing challenges will discourage the industrial adoption of these products during the forecast period.
This microfluidics technology market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global microfluidics technology market as a part of the global healthcare technology market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the microfluidics technology market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the microfluidics technology market encompasses successful business strategies deployed by the key vendors. The microfluidics technology market is fragmented, and the vendors are deploying growth strategies such as price, brand, availability, and variety to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The vendor profiles are designed to help clients improve their market position and information on production and sustainability along with this the report provides a detailed analysis of several leading Companies.
Our In-house experts produce extensive information on the value chain and parent market of the microfluidics technology market, which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-to-end understanding of product insight and profit and also the optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.
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33% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the microfluidics technology market in North America. Market growth in this region will be slower than the growth of the market in Asia.
The high investments in healthcare research and testing will facilitate the microfluidics technology market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 intensified research and testing activities associated with COVID-19 treatment across the research institutions, pharmaceutical companies, and diagnostic centers present in the region. Furthermore, the increasing focus on new drug development for a wide array of therapeutic areas by pharmaceutical and biopharmaceutical companies is likely to fuel the growth of the market in North America during the forecast period.
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The microfluidics technology market share growth in the polymer-based microfluidics segment will be significant during the forecast period. Polycarbonate (PC) is a durable material created by the polymerization of bisphenol A and phosgene, resulting in repeating carbonate groups. It is suited for DNA thermal cycling applications due to its transparent nature and its high glass transition temperature. Thus, the increased adoption of polymer-based microfluidics in various healthcare applications is driving the growth of the market in this segment.
This report provides an accurate prediction of the contribution of all the segments to the growth of the microfluidics technology market size and actionable market insights on the post-COVID-19 impact on each segment.
Microfluidics Technology Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 19.42% |
Market growth 2022-2026 |
$29.41 billion |
Market structure |
Fragmented |
YoY growth (%) |
18.71 |
Regional analysis |
North America, Europe, Asia, and the Rest of the World (ROW) |
Performing market contribution |
North America at 33% |
Key consumer countries |
US, Canada, UK, Germany, and China |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Biocartis Group 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., PerkinElmer Inc., QIAGEN NV, SMC Corp., Standard BioTools Inc., and Thermo Fisher Scientific Inc. |
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, and Market condition analysis for the forecast period. |
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. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Material
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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