Microfluidic Devices Market to Reach USD 22.65 Billion by 2026; Increasing Use of Micro Chips and Sensors to Boost Growth

The global microfluidic devices market is projected to reach USD 22.65 Billion by 2026, exhibiting a CAGR of 20.5% during the forecast period. This information is published in a published report by Fortune Business Insights, titled, “Microfluidic Devices Market Size, Share & Industry Analysis, By Device Type (Chips, Sensors, and Others), By Material (Glass, Silicon, PDMS and Others), By Applications (Pharmaceutical & Life Science Research, Diagnosis & Treatment, and Others), By End-user (Diagnostic Centers, Research Institutes, Pharmaceutical and Biotechnology Companies, Healthcare Facilities and Others) and Regional Forecast, 2019-2026.” According to the report, the global market size was valued at USD 5.14 Billion in the year 2018.

The report divides the market on the bases of device type, application, material, end-user, and geography. In terms of device type, the market is segmented into sensors, chips, and other. By application, the market is categorized into pharmaceutical and life science research, diagnosis & treatment, and others. In terms of material, the microfluidic devices market is divided into polymer, glass, silicon, and others. By end-user, the market is fragmented into pharmaceutical and biotechnology companies, research institutes, diagnostic centers, healthcare facilities, and others.

Various Benefits of Microfluidic Chips and Sensors to Drive Market Growth

Nowadays, there is a rise in the utilization of micro-sized sensors and chips for biomedical applications. The blend of immunoassays and microfluidics is one of the most favorable point-of-care biosensor platforms. Microfluidic sensors and chips have proved to be extremely functional, which has further made researchers and experts to conduct various experiments in the field of biomedical.

A simple lab-on-a-chip enables detection of individual biomarkers, rapid screening and high throughput of infectious diseases, and gain multiplex immunoassays. These applications have skyrocketed the usage and demand for lab-on-a-chip in pharmaceutical, biotechnological, and biomedical industries. All these are the ongoing microfluidic devices market trends that are projected to affect the overall sales positively.

Adoption of Advanced Technologies by Key Players to Favor Growth in North America

Geographically, the global microfluidic devices market is grouped into Europe, Asia Pacific, the Middle East and Africa, North America, and Latin America. Out of these regions, North America is anticipated to lead the market during the forecast period. In 2018, the region had acquired USD 1.86 Billion in terms of revenue.

The main reason for this is the increasing adoption of advanced technologies by prominent market players in this region. Furthermore, the rising number of research and development activities, as well as the existence of several major companies, are expected to surge the microfluidic devices market share in North America.

Asia Pacific, on the other hand, is projected to showcase high growth in the microfluidic devices market in terms of value in the coming years. It is likely to occur due to the rapid and early diagnosis of diseases in this region. Combined with this, increasing investment in the usage of microfluidic technology and rising disposable income will contribute to market growth.

Lunaphore Technologies Collaborate with PerkinElmer to Perform High-Quality Automated Multiplexed Assays

In March 2018, Lunaphore Technologies, a developer of automated solutions, based in Switzerland, announced that it has collaborated with PerkinElmer Inc., a global corporation focused in the business areas of environmental, diagnostics, food, life science research, and industrial testing, headquartered in the U.S. The main aim of this partnership is to develop ultra-fast and automated multiplexed analysis and staining of tumor samples.

Lunaphore has recently invented an innovative technology that can perform tissue staining evaluation smoothly than the current methods. The company’s novel tissue staining device will be mixed with PerkinElmer’s imaging system and multiplex reagents called the Opal.

The Opal enables staining of biomarkers up to 7 colors. Both technologies will aid in creating the possibilities of performing high-quality and fast automated multiplexed assays for biomarkers.

Fortune Business Insights profiles some of the renowned market players leading the global microfluidic devices market. They are uFluidix, Perkin Elmer, Fluidigm, Blacktrace Holdings Ltd. (Dolomite Microfluidic), Micronit, BioFluidix GmbH‎, Fluigent, ALine, Inc., Philips, and other prominent players.

Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/microfluidic-devices-market-101098

The global microfluidic devices market can be segmented into: