The global microfluidics market size is expected to reach USD 13.4 billion by 2026, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 18.07% during the forecast period. Introduction of improved technology, such as digital microfluidics, which enables on-chip biochemical analysis, is anticipated to fuel the growth.
Industry players are introducing newer sampling technologies to meet the demand for screening a huge number of biological samples. For instance, in November 2017, Dolomite introduced its new droplet-based microfluidics platform named Nadia single cell platform for single cell research.
Moreover, researchers are continuously striving to come up with improved sample droplet production techniques. For instance, Columbia University introduced the picoliter fluid dispensation technology. This lab-on-chip technology could deliver sample volume less than 50 nL. Integrating microfluidics with multiplexed sensing technology allows multiple sample analytical application.
Novel drug delivery systems require administration of the drug in the form of nanoparticles, thereby reducing the onset of action. Devices such as microneedles, pumps, and inhalers are expected to experience fastest growth during the forecasted period.
The market players engage in mergers and acquisitions, partnerships, and collaborations among the competitors for technological advancements. For instance, in July 2017 Fluidigm Corporation and Ascendas Genomics underwent into strategic partnership to develop and commercialize molecular diagnostic systems and assays using microfluidic technologies in China.
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Further key findings from the study suggest:
- In Vitro Diagnostic (IVD) segment led the application segment owing to the increasing adoption of microfluidics. Moreover, the leaders in the diagnostics sector, such as Abbott, Roche, and Danaher are encouraging the use of newer microfluidics technologies, such as the monodisperse bubbles/drops
- Polymers held the largest revenue share in 2018. Polymers offer better temperature control than glass. However, silicon material is expected to witness the fastest growth owing to the dominance of point-of-care diagnostics in the microfluidics market. Moreover, growing demand for faster results with minimally invasive tools is expected to further boost the growth
- North America led the market in 2018, attributed to the presence of strong research capital, introduction of improved sample volume screening techniques, and presence of dominant market players
- Asia Pacific is expected to witness the fastest CAGR owing to the increasing aging population, repeated hospital visits, presence of untapped market, and the low cost of labor. These factors have attracted many international players to establish their research laboratories in countries like India and China
- Some key players are Illumina, Inc.; Agilent Technologies; Caliper Life Sciences (acquired by PerkinElmer, Inc.); Cepheid; Danaher Corporation; Life Technologies Corporation (acquired by Thermo Fisher Scientific, Inc.); Bio-Rad Laboratories, Inc.; Abbott Laboratories; F. Hoffmann-La Roche Ltd; and Fluidigm Corporation