Global Microfluidics Market Size, Share, Growth Analysis, By Technology(Medical and Non- Medical), By Material(Silicon, Glass) - Industry Forecast 2024-2031

Global Microfluidics Market size was valued at USD 20.63 billion in 2022 and is poised to grow from USD 23.25 billion in 2023 to USD 58.23 billion by 2031, growing at a CAGR of 12.22% during the forecast period (2024-2031).

Microfluidic technology, requiring fewer samples and smaller instruments compared to traditional fluid measurement tools, offers enhanced parameter control and data quality, making it a prevalent choice in PCR amplification, cell separation, and DNA analysis. A study published in PLOS One forecasts approximately 2.8 million cases of chronic obstructive pulmonary disease (COPD) in France by 2025, driving market growth through increased demand for COPD testing using microfluidic chips and minimal blood samples. With dementia rates in Australia expected to escalate from 487,500 cases in 2022 to 1.1 million by 2058, there is a rising necessity for efficient medication discovery, screening methods, and toxicological investigations, propelling the demand for microfluidic systems capable of facilitating research on skeletal, glial, and endothelial cells to explore organogenesis and disease etiology while ensuring fluid isolation of muscle cells. Overall, the expanding utilization of microfluidic devices across diverse research and diagnostic domains is anticipated to fuel market growth.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Microfluidics Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Microfluidics Market Segmental Analysis

Global Microfluidics Market is segmented on the basis of technology, material, application type and region. By technology, the market is segmented into medical and non-medical. By material, market is segmented into silicon, glass, polymer, PDMS, others. By application, the marker is segmented into lab-on-a-chip, organs-on-chip, continuous flow microfluidics, optofluidic & microfluidics, acoustofluidics & microfluidics, electrophoresis & microfluidics. By type, the market is segmented into microfluidics chips, microfluidics sensors, microfluidics pumps, others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Drivers of the Global Microfluidics Market

The rising adoption of microfluidic devices in personalized medicine stems from their capacity to deliver both high-throughput and high-quality outcomes. As the demand for personalized medical solutions continues to surge, there is an anticipation of substantial growth in the microfluidic device market to meet these evolving needs.

Restraints in the Global Microfluidics Market

The intricacies of manufacturing microfluidic devices demand precision and expertise, posing challenges for companies aiming to expand production and reduce expenses due to the complexity involved in the process.

Market Trends of the Global Microfluidics Market

Point-of-care testing (POCT) involves medical diagnostic procedures conducted outside traditional clinical laboratory settings, such as in a doctor's office, hospital ward, or home environment, aiming for greater convenience and rapid results. The rising popularity of POCT is driving demand for microfluidic devices, which are particularly suitable for such testing scenarios, owing to their agility and efficiency.