Microfluidics Market Emerging Trends, Business Growth Opportunities, Major Driving Factors
According to our new market research study on “Microfluidics Market to 2027 – Global Analysis and Forecast – by Product, Material, and Application,” the market is expected to reach US$ 43,398.7 million by 2027 from US$ 11,851.1 million in 2019; it is estimated to grow at a CAGR of 17.9% from 2020 to 2027. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth.
Microfluidics involves processing or manipulation of small amount of fluidics. It involves processing small fluids volumes with the use of tiny channels having dimensions in micrometers. It is an emerging technology having a wide range of applications in biology, chemistry, optics, and information technology. This technology is applied in capillary electrophoresis, sample injection in mass spectrometry, immunoassays, flow cytometry, DNA analysis, separation and manipulation of cells, PCR amplification, among others. Additionally, microfluidics is also used in the diagnosis of diseases such as cancer and research.
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Based on the product, the global microfluidics market is segmented into microfluidic chips, microfluidic sensors, micropumps, microneedles, devices, and other products. The microfluidic chips segment is estimated to register the highest CAGR in the market during the forecast period. Themicrofluidic chips are used with multiple assays, and they can also be reused for additional cost benefits; these factors drive the growth of the microfluidic chips market.
The growth of the global microfluidics market is mainly ascribed to the rising demand for microfluidics technologies in point-of-care testing, and innovations in microfluidics products. However, the lower adoption in emerging economies is restraining the market growth.
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Agilent Technologies, Inc.; BD, Bio-Rad Laboratories Inc.; Danaher; Dolomite Microfluidics (Blacktrace Holdings Ltd.); Fludigm Corporation; Illumina, Inc.; microfluidic ChipShop GmbH; Perkin Elmer, Inc.; and Thermo Fisher Scientific Inc.; are among the leading companies operating in the microfluidics market.
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