Microfluidic Chips Market Size to Grow USD 8770.5 Million by 2030 with a CAGR of 10.1% | Valuates Reports

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Sep 09, 2024, 13:00 ET

Microfluidic Chips Market is Segmented by Type (Semi-Conductors, Polymers, Ceramics), by Application (Pharmaceutical, Diagnostic, Delivery)

BANGALORE, India, Sept. 9, 2024 /PRNewswire/ -- The Global Microfluidic Chips Market was estimated to be worth USD 4437.5 Million in 2023 and is forecast to a readjusted size of USD 8770.5 Million by 2030 with a CAGR of 10.1% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Microfluidic Chips Market:

Due to the growing importance of microfluidic chips in a variety of applications, including drug research, environmental monitoring, and medical diagnostics, the market for these chips is expanding significantly. With the use of microfluidic chips, fluids may be precisely controlled and manipulated at the microscale, enabling quick and affordable analysis using small sample amounts. Microfluidic chips are becoming more and more in demand as point-of-care diagnostics, customized medicine, and lab-on-a-chip technologies gain traction. Furthermore, improvements in manufacturing processes and materials are broadening the applications of chips in developing industries like chemical synthesis and biosensing while also improving chip performance.

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TRENDS INFLUENCING THE GROWTH OF THE MICROFLUIDIC CHIPS MARKET:

Polymers' affordability, simplicity of production, and adaptability are key factors propelling the microfluidic chips market's expansion. Because polymers like polydimethylsiloxane (PDMS) enable the precise molding of complex microchannels, they are widely used in the production of microfluidic chips. Polymers may be designed in any way and work well with a variety of chemical and biological substances, which makes them perfect for a wide range of applications, including medication delivery and diagnostics. The market expansion of polymer-based microfluidic chips is being driven by their rising usage across various sectors, which can be attributed to their affordability and scalability.

The demand for effective, high-throughput drug screening and development procedures is a major factor propelling the microfluidic chips market, particularly in the pharmaceutical sector. The precise control of tiny fluid volumes made possible by microfluidic chips makes it possible to test and analyze possible medication candidates quickly. In the pharmaceutical sector, where rapidity and precision in drug development may result in considerable cost savings and a shorter time to market for novel treatments, this expertise is very essential. The need for tailored treatment plans and focused medication administration is increasing, and the pharmaceutical sector's dependence on microfluidic technology is fueling this growth.

The market for microfluidic chips is expanding due in large part to the growing need for point-of-care (POC) diagnostics. POC testing enables speedier decision-making in clinical settings by providing fast diagnosis at the site of patient care, which lessens the requirement for centralized laboratory testing. Microfluidic chips are perfect for point-of-care (POC) applications because they can do intricate biochemical tests on tiny samples. The market for microfluidic-based POC testing is anticipated to develop as healthcare providers look for more ways to save costs and enhance patient outcomes.

The market for microfluidic chips is also being driven by the increasing focus on customized treatment. Customizing medical care for each patient according to their genetic, environmental, and lifestyle characteristics is known as personalized medicine. Targeted therapy development requires accurate and timely molecular analysis of biological samples, which microfluidic chips make possible. The need for microfluidic technology, which may assist in the development and implementation of various therapies, is anticipated to rise as the healthcare sector continues to move toward individualized methods, supporting market expansion.

The market is developing due to the growing uses of microfluidic chips in proteomics and genomics. These disciplines, which focus on the study of genes and proteins, respectively, are essential for comprehending the causes of disease and creating novel therapeutic approaches. The high-throughput examination of proteins, RNA, and DNA made possible by microfluidic chips makes it possible for researchers to carry out extensive investigations more accurately and efficiently. Microfluidic chips are projected to find increased usage in precision medicine and cancer research, two areas where demand for sophisticated genomic and proteomic research is predicted to remain high and propel market development.

The application of microfluidic chips in environmental monitoring is one new aspect propelling the market further. These chips make it possible to quickly identify and analyze environmental contaminants found in water, air, and soil samples, including heavy metals, pesticides, and pathogens. Their capacity to offer real-time, on-site monitoring makes them useful instruments for guaranteeing environmental safety and adherence to rules. Microfluidic technology usage for environmental monitoring and remediation is anticipated to rise in response to growing public health and environmental concerns, which will drive the market further.

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MICROFLUIDIC CHIPS MARKET SHARE

The majority of the producers in the microfluidic chip sector are located in the United States. Of these, the value of microfluidic chips produced in the USA accounted for less than 36% of the overall value worldwide. With a 3% market share, Agilent is the top maker of microfluidic chips worldwide.

Key Companies:

Fluidigm Corporation
Micralyne
Becton Dickinson
Danaher
PerkinElmer Inc
Bio Rad Laboratories
Dolomite
908 Devices
MicroLIQUID
MicruX Technologies
Micronit
Fluigent
Agilent

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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!

- Paper-based Microfluidic Devices Market

- Microfluidic Substrate market is projected to reach USD 470.7 Million in 2030, increasing from USD 286 Million in 2023, with a CAGR of 7.5% during the period of 2024 to 2030.

- Microfluidic Consumables Market

- Microfluidic Glass Devices market is projected to reach USD 293.6 Million in 2030, increasing from USD 168.5 Million in 2023, with the CAGR of 8.2% during the period of 2024 to 2030.

- Microfluidic Cell Culture market was valued at USD 256 Million in 2023 and is anticipated to reach USD 571 Million by 2030, witnessing a CAGR of 11.7% during the forecast period 2024-2030.

- Polymer Microfluidic Chip Market

- Organs-on-chips (OOC) market was valued at USD 88 Million in 2023 and is anticipated to reach USD 622.5 Million by 2030, witnessing a CAGR of 31.2% during the forecast period 2024-2030.

- Glass Microfluidic Droplet Chip Market

- Glass-based Microfluidic Devices market is projected to reach USD 293.6 Million in 2030, increasing from USD 168.5 Million in 2023, with the CAGR of 8.2% during the period of 2024 to 2030.

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