Global Microfluidics Market Is Estimated To Witness High Growth Owing To Rising Demand For Point-Of-Care (POC) Devices And Increasing Demand For In Vitro Diagnostics

 

Microfluidics 

Overview:

Microfluidics describes the manipulation of fluids in a miniature environment. It's a newer and more refined form of liquid manipulation, providing new perspectives to hydrodynamics. This technology allows researchers to study biological processes in a microscale environment. The applications of microfluidics span a wide variety of fields, from drug development to telecommunications. These devices are not only cheap, they are also scalable.

Organs-on-chips are 3D cell culture micro devices that mimic the human microenvironment. This technology enables scientists to conduct extensive research on human physiology and function. They also enable advancements in artificial disease models. Organs-on-chips use microfabrication technologies to simulate key functions of living organs. Microfluidics is a technique that has the potential to revolutionize point-of-care diagnostics and drug development. It is an interdisciplinary bio-technique that is a blend of hydrodynamics and electrostatics.

Market Dynamics:

Increasing agreements among key players is estimated to augment growth of the global Microfluidics Market during the forecast period. For instance, SCHOTT has decided to buy a microarray solutions company Applied Microarrays Inc., based in Arizona in 2021. This will strengthen their position in the United States and also enhance their bioscience capabilities.  Moreover, increasing strict regulations are anticipated to restrain growth of the global microfluidics market during the forecast period.

Impact of COVID-19:

The pandemic affected the healthcare sector immensely in many countries. Several hospitals were facing shortages of medical supplies, drugs, medical equipment and skilled professional staff members. This was due to the increasing COVID-19 cases throughout the world. There was an increase in number of diagnostic test being conducted and research activities were also being carried out on a large scale. There was a huge demand for point-of-care diagnostics, IVD devices and rapid diagnostic tests, all these use the microfluidic technology. This resulted in growth of the global Microfluidics Market in a positive manner. 

Key Takeaways:

The global Microfluidics Market is estimated to witness robust growth, exhibiting CAGR of XX% during the forecast period, owing to growing product launches. For example, an easy-to-use, compact digital microfluidics platform, the Miro Canvas was launched by Miroculus, Inc., in March 2022. This platform helps in on-demand automation of complex next-generation sequencing.

North America region has witnessed significant growth in the global Microfluidics Market over the forecast period, due to growing research funding from industries and government organizations.

Key players active in the global Microfluidics Market are Agilent Technologies, Inc., Biomérieux, Illumina, Inc., Abbott Laboratories, Perkinelmer, Inc., Qiagen N.V., Life Technologies Corporation, Bio-Rad Laboratories, Inc., Danaher, Elveflow, Hoffmann-La Roche Ltd, Micronit Micro Technologies B.V., Fluidigm Corporation, and Thermo Fischer Scientific.