Market Research Report
Microfluidics Market Size, Share & Trends Analysis Report By Application (Lab-on-a-Chip, Organs-on-Chips, Continuous Flow), By Technology (Medical, Non-Medical), By Material, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||370429|
|Published||Content info||158 Pages
Delivery time: 2-3 business days
|Microfluidics Market Size, Share & Trends Analysis Report By Application (Lab-on-a-Chip, Organs-on-Chips, Continuous Flow), By Technology (Medical, Non-Medical), By Material, And Segment Forecasts, 2020 - 2027|
|Published: February 13, 2020||Content info: 158 Pages||
The global microfluidics market size is expected to reach USD 31.6 billion by 2027, according to a new report by Grand View Research, Inc., registering an 11.3% CAGR over the forecast period. Demand for microfluidic-based devices is expected to surge owing to introduction of novel technologies such as digital microfluidics. These techniques allow on-chip biochemical analysis, thereby driving adoption.
Rise in the adoption of microfluidics for point-of-care diagnostics is expected to have a significant impact on market growth. Industry players such as Abbott, Roche, and Danaher have already incorporated this technology in their existing diagnostic devices and are exploring the scope of digital microfluidics. For instance, Philips' Minicare I-20 handheld device provides accurate and rapid results for the diagnosis of heart attacks.
Large investments targeted toward the development of microfluidics and promoting their adoption are expected to create opportunities for the expansion for automated as well as miniature devices. For instance, according to an article published in 2018, there have been large-scale investments in "sample-to-answer" microfluidic automated testing in recent years.
Microfluidics has not only been proven beneficial in biological bench-work but also several medical and pharmaceutical applications, including diagnosis of infectious diseases and treatment of cancer. The technology aids in the fabrication of functional living tissues and artificial organs. Companies such as Abbott, Roche, Cepheid, and Becton, Dickinson and Company (BD) are integrating such technologies with in-vitro diagnostics (IVD). Samsung LABGEOPT10 and Abbott i-STAT are examples of single-step blood glucose testing assays that can work on a small sample volume (a single blood drop).