Global microfluidics market is likely to exhibit a promising growth curve as far as the short-term outlook is considered. The report will uncover the insights into how the market growth will unfold in the next few years.
Rising Adoption of Microfluidic Techniques, and Devices to Bolster Microfluidics Market Growth
The global microfluidics market is anticipated to be driven by the growing use of microfluidics tools in various research and diagnostic fields. For instance, over the past ten years, the number of microfluidic devices suitable for treating ophthalmological disorders has increased. Microfluidic techniques have been successfully applied to measure vascular endothelium growth factor levels, identify infections, diagnose dry eye conditions, and measure glucose levels. In the upcoming years, the expansion of market is anticipated to be positively impacted by such applications. Increased demand for point-of-care testing, an increase in the prevalence of chronic diseases, quicker turnaround times for analyses, and better portability of devices are some reasons driving the market expansion.
The demand for point-of-care testing is increasing due to the rising incidence of infectious diseases and chronic illnesses like cancer, diabetes, cardiovascular diseases, and others. Throughout the forecast period, this demand is anticipated to drive the microfluidics market. For instance, the IDF's 2022 estimates state that approximately 6.1 million diabetics were living in Germany in 2021, which is expected to rise to 6.5 million by 2030. The necessity for innovative porosity microcapsules encasing cells for diabetes treatment employing microfluidic electrospray technology is thus increased by the anticipated rise in the number of persons with the disease.
The microfluidics market is anticipated to increase over the forecast period due to a growing business focus on developing microfluidics technologies and devices, and the rising adoption of various strategic initiatives. For instance, in June 2021, Sphere Fluidics, a business that commercializes single-cell analysis systems underpinned by its patented picodroplet technology, and ClexBio, a leader in solutions for tissue engineering and single-cell techniques, introduced the biocompatible CYTRIX Microfluidic Hydrogel Kit. In order to find SARS-CoV-2 antigens in Brazil and Japan, LumiraDx was approved in January 2021 for a microfluidic immunofluorescence assay. However, throughout the projection period, the market expansion is anticipated to be hampered by the integration of microfluidics technology with current workflows and the limited acceptance in underdeveloped nations due to expensive prices.
Microfluidics Market: COVID-19 Impact
The need for quick and precise diagnostic tools for the quick diagnosis, POC testing, IVD devices, and treatment of COVID-19-infected individuals brought microfluidics back into the spotlight. For the spreading of viruses to be stopped, efficient testing and tracking were essential. The development of microfluidic technology, the portability of devices, the requirement for small sample sizes, and regulatory body support to approve microfluidics tests to combat COVID-19 have all gained prominence. For persons with specific COVID-19 variant diagnoses, antibody therapies are now being developed using microfluidics. Medical research, medication development, and diagnostics are all finding growing use for microfluidic devices. Researchers at the University of Southern California have created a 3D printing system for producing microfluidic devices at the microscale for biomedical applications, according to a 12 April 2022 article published by Science Daily. This system has the potential to be commercialized. Microfluidic device production requires tedious manual etching or molding tiny channels into a transparent resin chip for testing.
Microfluidics-based 3D Cell Culture Systems are Emerging, Driving Microfluidics Market Expansion
Microfluidics' expanding uses in 3D cell culture will present a wide range of chances for the microfluidics market's expansion. Microenvironments that facilitate tissue development and reproduce the tissue-tissue interface, spatiotemporal chemical gradients and mechanical microenvironments of living organs may now be created using microfluidics in 3D cell culture due to recent advancements. With the increasing popularity of organ-on-a-chip models, scientists have begun to create tumors on chips. These chips help research the growth of cancer cells and create fresh anticancer medications. The key advantages of microfluidics, including the regulated release of medications and biocompatibility, are anticipated to open many doors for technology adoption. In addition to developing portable, wearable, and implantable gadgets, scientists are concentrating on creating smart medicines and subcutaneous patches for controlled release. The release can be better managed by creating diffusion barriers utilizing microtechnologies. Pharmaceutical and medical device businesses are making significant investments in creating innovative drug delivery systems employing microfluidics technology to take advantage of the rapid expansion in this industry.
Rise in Point-of-Care Testing Demand Will Fuel Microfluidics Market Growth
The market is anticipated to have lucrative growth potential in the upcoming years due to the rising need for PoC diagnostics. This expansion is largely attributable to the increase in infectious and lifestyle-related disorders and the demand for at-home care. The demand for PoC diagnostics is additionally being supported by rising private investments and venture funding for developing new products, together with government backing for enhancing the usage of PoC testing. The primary factors anticipated to increase demand for PoC diagnostics and propel the expansion of the microfluidics market are the rising incidence and prevalence of various diseases, product miniaturization, and decentralized healthcare.
Time-consuming, and Complex Process for Regulatory Approval to Control Microfluidics Market Growth
To ensure their products' marketing and sales in international markets, medical device manufacturers must abide by strict regulatory requirements. Since most major international players are in the US, the nation serves as a significant manufacturing hub for microfluidics devices. To assure the efficacy and safety of medical devices, the FDA in the US has established strict regulatory criteria and guidelines. The FDA approval procedure for medical devices has grown drawn out and complicated over the past few years. This is a significant obstacle that businesses must overcome when introducing new, cutting-edge products in the US.
Medical/Healthcare Category Dominated Microfluidics Market due to Number of Improvements Offered by Microfluidics
The medical/healthcare category held the largest microfluidics market share, and it is anticipated that it will continue to rule the market during the forecast period. The fields of biological analysis, chemical synthesis, and information technology are all thought to benefit greatly from microfluidics. Through the use of microfluidics, conventional laboratory tools and technologies have been reduced in size, which has resulted in several improvements. These improvements include the efficient use of reagents, the ability to extract the most information possible from small sample sizes, the development of quick and straightforward assay protocols, enhanced sample parallel processing techniques, and precise spatiotemporal control of cell microenvironments. In addition to biological applications, microfluidics has also shown promise in several medical and pharmaceutical fields. These fields include the treatment of cancer, the creation of artificial organs and living tissues, and the diagnosis and treatment of infectious diseases.
PDMS Category Dominated Microfluidics Market due to its Non-toxic Nature
The PDMS category dominated the microfluidics market in 2021. PDMS is a polymer that is frequently used in microfluidics because of the many benefits it provides. PDMS has several benefits, including nontoxicity, resilience, optical clarity, biocompatibility, permeability to gas and oxygen, elastomeric characteristics, low cost, and the ability to stack several layers for complicated designs of microfluidic devices. Numerous expansion potentials for the use of PDMS in the experimental microfluidics area have been made possible by the quick uptake of LOC devices with microfluidics capabilities. Due to its recognized biocompatibility, permeability, and low levels of autofluorescence, PDMS is anticipated to see significant growth in several biotechnologies and biomedical engineering applications over the projection period.
North America to Dominate Microfluidics Market due to Increase in Research Funding from Government Agencies
Over the forecast period, it is anticipated that North America microfluidics market will account for the largest revenue share. The primary driver fueling market expansion is increased research funding from government agencies and businesses. The demand for microfluidics devices has driven the industry-academia partnership in the research and diagnostics fields to hasten the commercialization of lab-built devices. For the Rapid Acceleration of Diagnostics program, Fluidigm Corporation signed a letter of agreement in July 2020 with the National Institute of Biomedical Imaging and Bioengineering and the National Institutes of Health. The project, with a total proposed expenditure of up to US$37 Mn, aimed to increase the COVID-19 testing's output capabilities and manufacturing capacity using Fluidigm's microfluidics technology. The program also accelerated the commercialization and development of ground-breaking technologies to greatly expand SARS-CoV-2 testing capacity in the United States.
The Asia Pacific microfluidics market is anticipated to experience stable revenue growth throughout the forecast period due to an expanding economy, a robust research infrastructure, and inexpensive labor. Investors from abroad are eager to enter the undeveloped market of the region. Foreign competitors predominate the market. However, major players in the area are putting forth unique and intriguing solutions that are both interesting and interesting in terms of performance and, more importantly, price. This could help them increase market share in the upcoming years. China's government has established a strategic strategy to greatly expand the domestic microfluidics market and elevate the nation to a major player. This plan, Made in China 2025, focuses on medical devices and pharmaceuticals.
Global Microfluidics Market: Competitive Landscape
In March 2022, the unveiling of Miro Canvas, a portable and user-friendly digital microfluidics platform to automate intricate Next-Generation Sequencing (NGS) sample preparation methods, was announced by Miroculus. Similarly, in September 2019, a purchase agreement was signed by SCHOTT AG to acquire the microfluidic business MINIFAB Pty Ltd. Both partners were anticipating being able to significantly expand their product offerings in the diagnostics sector thanks to this initiative.
Few of the players in the microfluidics market Illumina, Inc., F. Hoffmann-La Roche Ltd, PerkinElmer, Inc, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Abbott, and Standard BioTools.
Global Microfluidics Market is Segmented as Below:
Key Elements Included In The Study: Global Microfluidics Market
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