Microfluidic Market for Healthcare Application to grow by USD 43.27 billion from 2022 to 2027 | Growth Driven by the Compact size of microfluidic devices- Technavio

NEW YORK, Nov. 24, 2023 /PRNewswire/ — The “microfluidic market for healthcare application is segmented by application (In-vitro diagnostics, pharmaceutical research, and drug delivery services), material (polymer-based, glass-based, and silicon-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2023-2027″ report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the microfluidic market for healthcare applications from 2023 and 2027 is USD 43.27 billion.

The compact size of microfluidic devices is a key factor driving market growth. The microfluidic device is compact and uses fewer reagents, resulting in lower costs and reduced medical waste. Precise temperature control, rapid heat transfer, and rapid adaptation to temperature changes are facilitated by the large surface area to volume ratio and low thermal mass of these devices.

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Market Challenge

The changes in the properties of fluids at the microscopic level are significant challenges restricting market growth. At a microscopic level, microfluidics have a tendency to change their properties. Compared to the use of the same fluid at a macro scale, fluids behave differently on microscales. The occurrence of slip resistance is also an important factor to consider in drug testing. There is no leakage between liquids and solids on the microscopic level. Liquid molecules adhere to a solid surface and the liquid moves against it.

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The microfluidic market for healthcare application has been segmented by application (In-vitro diagnostics, pharmaceutical research, and drug delivery services), material (polymer-based, glass-based, and silicon-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa). 

The market share growth by the in-vitro diagnostics segment will be significant during the forecast period. In vitro diagnostics represent a significant percentage of the applications for microfluidics in healthcare. There is a great deal of scope for microfluidics in diagnostics. Large companies are interested in the use of In Vitro Diagnostics technology, which is also an investment or acquisition area for smaller firms.North America is estimated to contribute 44% to the growth of the global microfluidic market for healthcare applications during the forecast period.

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Key Companies in the microfluidic market for healthcare application:

908 Devices Inc., Agilent Technologies Inc., bioMerieux SA, Bio Rad Laboratories Inc., Blacktrace Holdings Ltd., Cellix Ltd., Danaher Corp., Elveflow, Fluigent SA, General Electric Co., Hamilton Bonaduz AG, Illumina Inc., Microfluidic Chipshop GmbH, MICRUX FLUIDIC S.L., Perkin Elmer Inc., SMC Corp., Teledyne Technologies Inc., Thermo Fisher Scientific Inc., uFluidix Inc., and QIAGEN NV

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Biochips Market size is estimated to grow by USD 43,273.01 million between 2022 and 2027 accelerating at a CAGR of 25.15% during the forecast period. 

The peripheral component interconnects express (PCIe) market is estimated to grow at a CAGR of 22.26% between 2022 and 2027. The size of the market is forecast to increase by USD 31,584.8 million. 

Excustive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Material

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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SOURCE Technavio