What is your opinion about Microfluidics is this the future of the industry?

The global microfluidics market size was valued at USD 17.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.3% from 2021 to 2028. The market is majorly driven by the rising number of clinical studies for cell-based therapies. Rapid demand for low-volume sample analysis, high-throughput screening methodologies, In Vitro Diagnostics (IVD), and development of advanced lab-on-a-chip technologies are collectively contributing to market growth. Moreover, microfluidics offers a high return on investment and helps in cost control by minimizing errors.

Pre-hospital analysis like routine blood glucose level check can be done at home, thereby reducing the number of hospital visits and stays. The point-of-care diagnostics introduced by various market players led to decreased hospital visits and early disease diagnosis. With advanced technologies, industry players now differentiate their products using minimally invasive features along with speed and accuracy. Microfluidics has thus made its mark in the IVD

Gather more insights about the market drivers, restrains and growth of the Global Microfluidics Market

Moreover, miniaturization is crucial for microfluidics to be potentially applied across wearable devices. The concept of incorporating microfluidics to manufacture pocket-sized/wearable devices has encouraged various large companies such as F. Hoffmann-La Roche Ltd., BD (Becton Dickinson and Company), and Abbott to expand their microfluidics portfolio across clinical, Point-of-Care (POC), and veterinary diagnostics. Other key vendors include Agilent Technologies, Inc.; Illumina, Inc.; and Fluidigm Corp.

The application of microfluidics is growing in the field of diagnostics, especially in POC diagnostics. This is also supplemented by microfluidics-integrated biosensor technologies that are expected to enhance POC diagnostics. The combination of microfluidic components with POC devices is largely focused on achieving sensitivity, stability, accuracy, affordability, and obtaining minimally invasive POC technology.

Rapid diagnosis is still of paramount importance in the current COVID-19 management. The longer timelines required by existing commercialized COVID-19 tests coupled with time taken by large-scale laboratories and hospitals to get back to the patient with the results has paved way for point-of-care testing of COVID-19 patients. Microfluidics is well suited for the development of COVID-19 point-of-care testing as, it offers rapid turnaround times, exhibits a clinically relevant detection limit, and results in the development of cost-effective tests.

Browse through Grand View Research's Medical Devices Industry Research Reports.

In Vitro Diagnostics Market - The global in vitro diagnostics market size was valued at USD 83.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2027. The growth can be attributed to the increasing adoption of in vitro diagnostics (IVD) owing to a rise in testing due to the pandemic. According to United Nations, it was estimated that, in 2017, there were around 962 million people aged above 60 years worldwide.

Point Of Care Diagnostics & Testing Market - The global point of care diagnostics and testing market size was valued at USD 27.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.25% from 2021 to 2028. The growing demand for home healthcare has propelled manufacturers, such as Abbott Laboratories and Roche Diagnostics, to commercialize portable products that are user-friendly, which is also estimated to drive the market.

Microfluids Market Segmentation

Grand View Research has segmented the global microfluidics market report on the basis of technology, application, material, and region:

Microfluidics Technology Outlook (Revenue, USD Million, 2017 - 2028)

• Medical/Healthcare

o   PCR & RT-PCR

o   Gel Electrophoresis

o   Microarrays

o   ELISA

o   Others

• Non-Medical

Microfluidics Application Outlook (Revenue, USD Million, 2017 - 2028)

• Lab-on-a-chip

o   Medical

o   Non-Medical

• Organs-on-chips

o   Medical

o   Non-Medical

• Continuous flow microfluidics

o   Medical

o   Non-Medical

• Optofluidics and microfluidics

o   Medical

o   Non-Medical

• Acoustofluidics and microfluidics

o   Medical

o   Non-Medical

• Electrophoresis and microfluidics

o   Medical

o   Non-Medical

Microfluidics Material Outlook (Revenue, USD Million, 2017 - 2028)

• Silicon
• Glass
• Polymer
• PDMS
• Others

 Microfluidics Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Market Share Insights

June 2020 - Illumina announced its latest cohort of startup entities expected to commence operations in collaboration with the company’s teams across San Francisco and London. This cohort includes a high-throughput microfluidics startup entity-WellSIM Biomedical Technologies, Inc.

September 2019 -  Fluidigm Corporation launched a novel microfluidics-based workflow, Advanta RNA-Seq NGS Library Prep Kit, that provides substantial cost savings and operational efficiencies for mid-to-high-throughput laboratories.

Key Companies profiled:

Some of the prominent players in the microfluidics market include:

• Illumina, Inc.
• F. Hoffmann-La Roche Ltd
• PerkinElmer, Inc.
• Agilent Technologies, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Life Technologies Corporation
• Abbott Laboratories
• Thermo Fisher Scientific
• Qiagen
• Biomérieux
• Elveflow
• Cellix Ltd.
• Micronit Micro Technologies B.V.
• Fluidigm Corporation

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