Global Microfluidic Devices Market Report and Forecast 2024-2032

Global Microfluidic Devices Market Outlook

The global microfluidic devices market size has reached a value of more than USD 12.85 billion in 2023. The market is expected to grow at a CAGR of 19.80% in the forecast period of 2024-2032, reaching a value of USD 65.29 billion by 2032.   

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Microfluidic Devices Market Analysis

Microfluidic is a field of science dealing with the study of the behaviour of fluids through small channels on a micro-level scale. The devices containing a palm-sized chip with small channels used to process or manipulate small amounts of fluidics are knowns as microfluidics devices.

Increasing Prevalence of Diseases

Infectious diseases and chronic disease cases are increasing, and it is expected to drive the market growth as microfluidic devices are utilised for the screening of diseases.

Rising Technological Advancements

Manufacturers are focused on developing advanced microfluidic components to improve the operational processes in the healthcare industry and meet the increasing demand.

Cost-Effective Materials for Manufacturing Devices

The application of cost-effective materials, such as polymers, for the manufacturing of microfluidic chips and sensors has increased the profit margin for the market.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Microfluidic Devices Market Opportunities

3D Printing for Manufacturing Devices

The application of 3D printers for manufacturing microfluidic devices can significantly enhance the development of the market. 3D printers can allow flexible adjustments by changing the design and manufacturing the device much more simply

Smartphone-Operated Microfluidic Devices

Manufacturers have focused on research and development to launch new products such as a new microfluidic chip for diagnosing diseases that is operable wirelessly through smartphones.

Lacking Standardisation of the Devices to be a Key Challenge for the Market

Over the previous couple of years, there have been very low efforts for the standardisation of microfluidic devices for different end-users, which has been restricting the market growth.

Global Microfluidic Devices Market Analysis

Based on device type, the market can be segmented into chips, sensors, flow and pressure controllers, among. Based on the material, it can be bifurcated into glass, polymer, and silicon, among others. Based on application, the market divisions include point of care testing, pharmaceutical and life science research, drug delivery, analytical devices, clinical and veterinary diagnostics, and environment and industrial, among others. Based on industry, the market segments include in-vitro diagnostics, pharmaceuticals, and medical devices.

The regional markets for the microfluidic devices market can be divided into North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global microfluidic devices market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Parker-Hannifin Corporation

• Agilent Technologies, Inc.

• Standard BioTools

• Fluigent S.A.

• ALine Inc,

• Blacktrace Holdings Ltd.

• Others

Global Microfluidic Devices Market Share by Type

Based on type, the market segments include chips, sensors, flow and pressure controllers, among others. The chip segment is expected to hold the largest market share due to increasing applications in varied fields such as diagnosis, drug delivery, and biomedical, among others.

The sensor segment is expected to have significant growth during the forecast period as the enables rapid detection of analytes and reduces energy consumption, which leads to cost savings.

Global Microfluidics Devices Market Share by Material

Based on materials, the market is bifurcated into glass, silicon, and polymer, among others. Among these segments, glass holds the largest market share as it has excellent chemical, electrical, and physical properties that are required for the proper flow of microfluidics and the detection of diseases.

The polymer and silicon segment is going through rapid growth due to increasing demand for cost-effective materials in the market for manufacturing of chips and sensors. They are disposable and more user-friendly and help in reducing energy consumption.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Parker-Hannifin Corporation, originally known as Parker Appliance Company, is an American corporation focused in developing motion and control technologies. The company is headquartered in Ohio, United States, and it was founded in March 1917.

Their products are available in categories, such as cylinders and actuators, pumps, piping and tubing, motors, filters, and dryers.

Agilent Technolgies, Inc. is an American life science company that was formed in 1999 as a spin-off from Hewlett-Packard. The company is engaged in providing instruments, software, services, and consumables for all sorts of medical workflow.

Their products are available in various fields, such as analytical instruments and supplies for chromatography, mass spectrometry, and spectroscopy, among others.

Standard BioTools is an American company, founded in 1999, engaged in designing, manufacturing, and distributing biological research equipment based on fluid circuit technology. The company utilised their semiconductor skills to develop integrated circuits that conveyed fluids rather than electrons.

Other market players include Fluigent S.A., ALine Inc, and Blacktrace Holdings Ltd., among others.

Key Highlights of the Report