Microfluidics Market - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

 

Microfluidics Market

Microfluidics systems are a desirable option for assays including biological and chemical assays because of advantages like less sample and reagent usage, shorter analysis times, and simpler automation processes. Additionally, microfluidics devices enable parallel assay execution, which lowers the overall cost of the experiment. These technologies offer enormous potential in the realm of point-of-care diagnostics based on next-generation sequencing. Due to the manufacturing process' low cost, high level of system integration, and portability, the Microfluidics Market is expected to increase favourably throughout the foreseeable future.

The demand for devices based on microfluidics technology is rising as drug delivery applications advance. The development of numerous drug delivery systems based on microfluidics, such as micro-needle arrays, inhaler nozzles, transdermal, and micro-pumps, has a significant impact on drug delivery because of its exact and predictable drug release.

The Microfluidics Market is dominated by North America, which is largely due to the region's developed healthcare system and higher uptake of innovative medicines by the general populace.

The field of microfluidics is rapidly expanding in the area and has a large R&D budget. For instance, since 2000, PhRMA member businesses have invested more than USD 1.1 Trillion in the hunt for novel medicines and cures, including USD 102.3 Billion in 2021 alone, according to the Pharmaceutical Research and Manufacturers of America data updates from September 2021.

Additionally, over the course of the prediction, these are anticipated to rise even further with growth in Microfluidics Market. One of the main destinations for all the most current developments is the United States. In order to create integrated microfluidic devices that are quick and simple to use, point-of-care diagnostics leverages microfluidic technology for a variety of applications, including molecular diagnostics, infectious diseases, and chronic diseases.

Researchers from the University of Illinois at Urbana-Champaign presented a prototype of a quick COVID-19 molecular test in August 2020. They also showed a portable device for reading the results on a smartphone without sending samples to a lab.

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