Microfluidic Devices Market Revenue to Surpass $59,785.3 Million by 2030: P&S Intelligence

NEW YORK, Oct. 31, 2022 /PRNewswire/ -- According to the study published by P&S Intelligence, in 2021, the microfluidic devices market was valued at $14,218.6 million, which is set to progress at a compound annual growth rate of 17.3% between 2021 and 2030, to hit $59,785.3 million value by 2030. The growth of the industry is being fueled by the development of sophisticated labs-on-a-chip, low-sample-volume in-vitro diagnostics (IVD), and high-throughput screening techniques.

Moreover, the developments in genomics and proteomics research, along with the deliberate incorporation of lab-on-a-chip technologies into laboratory operations, are predicted to dramatically increase the need for micromachined biological devices.

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Important Points in Microfluidic Devices Market Report

• The polymer category led the industry with an over 60% share in the past. Polymers have seen a substantial surge in utilization, particularly in the fast prototyping of microfluidic systems, which is attributed to the materials' simplicity in product manufacturing and low cost.
• Moreover, the consumption of glass, which was ranked second in the past in terms of value, is predicted to grow at a rate of over 18%. Most analytical applications employing glass-based equipment involve high temperatures and organic solvents.
• The capacity to alter the nature of bioparticles, including DNA, cells, and molecules, at the micro level makes microfluidic devices crucial for many biological and chemical studies. The biggest benefits of microfluidics in genomics are improved test speed, lower reagent use, more effectiveness, and smaller device sizes.
• The count of studies on biopharmaceuticals is predicted to increase as low-cost genomics instruments become more widely used and the microfluidic technology continues to advance. Additionally, the usage of microfluidic devices is becoming more significant in research fields that aim to incorporate lab procedures into labs-on-a-chip.

Sales of Microfluidic Devices Are Highest in North America 

North America, which holds an over 40% share in the market, is predicted to dominate the industry in the future. This is owing to the fast acceptance of cutting-edge technologies by major users. Additionally, the expansion is projected to be fueled in the U.S. by the rising R&D activity and the existence of major companies.

Browse detailed report on Microfluidic Devices Market Size, Share and Growth Analysis Report 2022-2030

One of the most-alluring platforms in the diagnostics industry is the microfluidic system. Its acceptance is driven by the aging population, growing health and wellness consciousness, increasing prevalence of chronic diseases, availability of attractive insurance plans, and technological advancements.

China is one of the APAC countries with the fastest-growing buyers of microfluidic devices because of the nation's growing government spending and developing healthcare infrastructure. Thus, APAC is predicted to become a desirable market for companies that produce such medical tools.

Microfluidic Devices Market Report Coverage

By Material

• Glass
• Polymer
• Silicon

By Application

• Drug Delivery
• Pharmaceutical and Biotechnology Research
• Point-of-Care Diagnostics
• Clinical Diagnostics

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa
• U.A.E.

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence