Microfluidics Market Is Estimated to Grow at US$ 12,927.6 Mn by 2027 during the Forecast Period 2019-2027

 

Microfluidics Market

The field of technology known as microfluidics is concerned with the movement of liquids through small channels like chips, nozzles, and pumps. Products built on the microfluidics technology can manipulate and control fluids at the tiniest scales, from ten to hundreds of micrometres. Designing, producing, and formulating instruments and assays that deal with extremely small volumes of fluids—typically in the range of microliters (10-6) to pico liters—is the foundation of microfluidics (10-12).

Over the forecast period, a high prevalence rate of lifestyle diseases is anticipated to fuel market expansion for microfluidics. For instance, 500 million individuals globally had type 2 diabetes in 2018, according to a report by the American Diabetes Association titled "Global Prevalence of Type 2 Diabetes for the Next Ten Years (2018-2028)". Miniaturization, integration, and automation of priceless complicated chemical, biological, and physical assays are further factors that are anticipated to support market expansion. 

The Global Microfluidics Market Is Estimated To Account For US$ 3,800.4 Mn In Terms Of Value In 2018 And Is Expected To Reach US$ 12,927.6 Mn By The End Of 2027.

Due to advantages including decreased sample and reagent consumption, shorter analysis times, simplicity of automation, and the ability to run parallel tests, which reduces assay costs and time, microfluidics systems are a useful tool for biological and chemical assays. Due to its cost-effective manufacture, high system integration, and mobility, it also has enormous potential in next-generation sequencing point-of-care diagnostic devices, which boosts demand for microfluidics over the projection period. In terms of value, the Europe region had a 32.2% share of the worldwide microfluidics market in 2018, followed by North America.

The healthcare research sector in underdeveloped nations is changing quickly. The development of the worldwide microfluidics market, however, may be constrained by the absence of a sufficient infrastructure for healthcare research in emerging regions. Additionally, a lack of appropriate regulatory framework, improperly developed and implemented clinical practise guidelines, and a shortage of trained labourers in emerging nations all have a detrimental effect on market growth. The limited financial backing and expensive R&D costs for goods based on microfluidics technology have made it difficult for the global microfluidics market to expand.

Top Manufacturers of Microfluidics Market are- Agilent Technologies, PerkinElmer Inc., Thermo Fisher Scientific Inc., Qiagen NV, Bio-Rad Laboratories, Inc., Fluidigm Corporation, Abbott Laboratories, and F. Hoffmann-La Roche Ltd.

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