IMARC Group, a leading market research company, has recently releases report titled "Microfluidics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028". The study provides a detailed analysis of the industry, including the global microfluidics market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the microfluidics market?

The global microfluidics market size reached US$ 24.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 61.0 Billion by 2028, exhibiting a growth rate (CAGR) of 16.2% during 2023-2028.

What is microfluidics?

Microfluidics refers to the technology that relies on a set of tools or systems to manipulate small volumes of fluids and control chemical, physical, and biological processes. It can be integrated with electronic and optical elements for the construction of operational sensors utilizing lithographic techniques. Microfluidics is widely utilized in biomedical applications, including tissue engineering and wound healing. Presently, various advanced fabrication technologies, like two-photon polymerization (2PP), help in fabricating miniature microfluidic components, such as microneedles, microfilters, micromixers, etc. These components offer numerous benefits, including unique three-dimensional (3D) capabilities, extreme resolution, sufficient versatility, etc.

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What are the growth prospects and trends in the microfluidics industry?

The sudden outbreak of the COVID-19 pandemic is primarily driving the microfluidics market by catalyzing the demand for detection approaches based on this technology, which can aid in developing rapid, effective, and easy-to-use clinical detection techniques. Moreover, microfluidics has several advantages, such as high sensitivity, specificity, controlled fluid handling, low volume sampling, etc., which are augmenting the global market. Aside from that, the increasing prevalence of acute and chronic diseases across countries is driving up product demand.

Additionally, the increasing adoption of microfluidics for blood analysis and Point-of-Care (POC) testing of cancer and infectious diseases is acting as another growth-inducing factor. Apart from this, the expanding popularity of nanofibers in tissue engineering and regenerative medicine is propelling the market growth since microfluidics enables the custom-made fabrication of nanofibers in a broad range of materials and morphologies. This, in turn, is anticipated to fuel the global microfluidics market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Material:

• Silicon
• Glass
• Polymer
• PDMS
• Others

Breakup by Component:

• Microfluidic Chips
• Micro Pumps
• Microneedles
• Others

Breakup by Application:

• Pharmaceutical and Life Science Research
• Clinical and Veterinary Diagnostics
• Point-of-Care Diagnostics
• Analytical Devices
• Drug Delivery
• Others

Breakup by Region:

North America: (United States, Canada)

Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)

Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)

Latin America: (Brazil, Mexico, Others)

Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including:

• Abbott Laboratories
• Agilent Technologies Inc.
• Bio-Rad Laboratories Inc.
• Blacktrace Holdings Ltd
• Elvesys Group
• Fluidigm Corporation
• Illumina Inc.
• Micronit B.V.
• Parker-Hannifin Corporation
• PerkinElmer Inc.
• Qiagen N.V.
• Thermo Fisher Scientific Inc.

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