Microfluidic Device Market

Microfluidic Device Market Outlook (2024 to 2034)

The global microfluidic device market size is estimated to be valued at US$ 264.5 million in 2024. The market is projected to register a rapid CAGR of 9.5% to accumulate sales worth US$ 657.9 million by 2034.

Rising geriatric population, which is susceptible to chronic diseases like cardiovascular diseases, high blood pressure, diabetes, and others, is creating a healthy demand for microfluidic devices. Further, the surging use of microfluidic devices in fields like research and diagnosis is making a healthy ground for key players to introduce advanced technologies.

Leading Drivers that are Catapulting Market Growth

• Significantly increasing incidence rates of infectious and chronic diseases are expected to escalate the adoption of microfluidic devices for the screening of diseases.
• As early diagnosis is gaining its due importance among the population, thanks to increasing knowledge about the benefits of early detection, microfluidic devices are finding heightened use, especially in diagnosing cancer.
• Surging geriatric population, which is highly prone to chronic and infectious diseases due to their lower metabolism and low immunity system, is expected to catalyze investments in microfluidic devices.
• Robust rise in the research and development activities for the technological upgradation of microfluidic devices, product approvals, and product launches.
• Increasing interest of developers and manufacturers to develop microfluidic devices and raise their footprint in emerging markets.
• Rising application of microfluidics in the development of novel drug delivery systems. Microfluidics have been gaining significant traction in the development of more effective drug delivery systems due to their commendable ability to manipulate liquids and provide precise delivery.
• Increasing advancements in the biotechnology and microfluidic industry, surging healthcare expenditures, and rising access to healthcare facilities are expected to propel market growth.

Demand for microfluidic devices is predicted to accelerate in the next decade as applications for microfluidic devices continue to increase. Over the forecast period, the microfluidic device market is projected to thrive at a CAGR of 9.5%.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 264.5 million
Forecasted Market Value (2034F)	US$ 657.9 million
Projected Growth Rate (2024 to 2034)	9.5%CAGR
Diagnostic Centers Segment Growth Rate (2024 to 2034)	9.3% CAGR
Disease Diagnostics Segment Growth Rate (2024 to 2034)	8.9% CAGR
North America Market Share (2024)	33.4%
East Asia Market Share (2024)	14.6%
Key Companies Profiled in the Microfluidic Device Industry Report	Illumina, Inc. F. Hoffmann-La Roche Ltd PerkinElmer, Inc. Agilent Technologies, Inc. Bio-Rad Laboratories, Inc. Danaher Corporation Abbott Thermo Fisher Scientific Standard BioTools Others

Which Trends Contribute to Microfluidic Device Market Growth?

“Growing Demand for Point-of-care Diagnostics”

Rising demand for point-of-care diagnostics is projected to offer significant growth opportunities for the microfluidic device industry. These diagnostics provide a robust and fast detection of diseases instead of other conventional methods. This results in improved diagnosis and assists healthcare professionals in making quick medical decisions about the patient.

Miniaturization of microfluidic devices and manufacturing of new products are also creating prospects for microfluidics device-based applications in point-of-care testing. In January 2022, Roche introduced the Cobas Pulse system, a blood glucose management solution with mobile digital health capabilities, to increase patient care.

“Increasing Deployment of 3D Printing Technology to Develop Microfluidic Devices”

Manufacturers are introducing 3D printing technology in the manufacturing process of microfluidic devices. This is because 3D printing helps fabricate a microfluidic device in one step. Furthermore, 3D printing permits rapid adjustment of device features with each print by modifying the design in CAD software. In February 2021, the University of Bristol’s researchers developed a novel, cost-efficient, open-source 3D printing process to produce microfluidic devices.

Region-wise Insights

Which Region Accounts for a Leading Market Share?

“North America Grabs a Dominant Share of 33.4% and Wields Greater Influence in the Market”

As per the latest market estimations, the North America microfluidic device market is estimated to acquire a market size of US$ 88 million in 2024. By 2034, the region is projected to expand at a CAGR of 6.8% to accumulate revenue worth US$ 171 million. The regional market is driven by accelerating research funding by government bodies and leading firms. Additionally, increasing collaborations between industry players and academia to boost the commercialization of lab-built devices is projected to propel market growth.

Which Region is Expanding at a Vigorous Rate?

“The East Asia to Flourish at a Rapid Pace”

According to microfluidic device industry analysis, the East Asia microfluidic device market is estimated to obtain a market value of US$ 39 million in 2024. The market is projected to register a thrilling CAGR of 12.5% through 2034, by the end of which it is going to obtain US$ 125 million. Based on market share, the regional market is expected to acquire 14.6% in 2024.

Affordable labor, a developing economy, and enhancing research infrastructure in East Asia are all conducive to the growth of the microfluidic device industry. International players are also eager to invest in this region due to its high growth prospects. Active players in the region are developing distinctive solutions based on performance and price to appeal to consumers in East Asia.

Country-wise Insights

Which Country in North America Enjoys a Prominent Share?

“The United States to Grab a Significant Market Share”

The United States microfluidic device market is projected to capture an 89.3% value share in 2024. The market is estimated to account for US$ 79 million in 2024 and is projected to expand at a CAGR of 6.7% during the forecast period. By 2034, the market is forecast to reach US$ 151 million.

Well-established healthcare infrastructure in the country contributes to the increased adoption of microfluidic devices. Additionally, the increasing deployment of modern miniaturization technologies and constant research and development efforts by private players and the government complement market growth. For instance, LexaGene introduced the MiQLab system in January 2021 after gaining emergency use authorization (EUA) to spot the SARS-CoV-2 virus.

Which Country in East Asia is Exhibiting a Strong Performance?

“China is Projected to Rise at a CAGR of 13.2% through 2034”

China's microfluidic market is projected to obtain a market share of 51.5% in 2024. The country is estimated to collect US$ 20 million in revenues in 2024. By 2034, the market is forecast to be worth US$ 69 million, recording a CAGR of 13.2%. Increasing population base, increasing investments in the healthcare sector, and enhancing healthcare infrastructure are all predicted to support market growth.

Segment-wise Insights

Which Product Type Acquires a Dominating Market Share?

“Microchips Segment Estimated to Record a Significant Share in 2024”

According to microfluidic device market research, the microchips segment is expected to obtain a market share of 45.9% in 2024. The segment is estimated to be worth US$ 121.4 million and record a CAGR of 9.8% during the forecast period. By 2034, the segment is forecast to generate sales of US$ 309.2 million.

A string of factors like accelerating demand for PoC testing, increasing demand for high-speed diagnostics, rising traction for personalized medicine, and a growing count of life science research activities and drug discoveries are propelling the segment’s growth.

Market players are forming alliances and collaborating with other players to capture a greater market share in the future. For instance, Millipore Sigma and Dolomite Microfluidics partnered in December 2020. The primary intent behind this partnership is to develop a NanoFabTx microfluidic chip for controlled drug-release applications and drug development.

Which Application Segment Acquires a Greater Portion?

“Disease Diagnostics Segment is Expected to Procure a Market Share of 52.8%”

The disease diagnostics segment is estimated to acquire a value of US$ 139.8 million in 2024. By 2034, the segment is forecast to be valued at US$ 327.3 million, recording a CAGR of 8.9%. Growing demand for microfluidic devices in various pharmaceutical and medical applications, such as the fabrication of functional artificial organs and living tissues, is expanding the segment share.

Recent incidences of new launches in microfluidic devices for disease diagnostics are propelling market expansion. In August 2022, for instance, associates at the School of Electrical and Computer Engineering in the United States developed a Cluster-Well chip, which harnessed the microfluidic chips’ precision to detect metastatic cancer and facilitate easy treatment of cancer.

Competitive Landscape

The key players in the microfluidic device market include Illumina, Inc., F. Hoffmann-La Roche Ltd, PerkinElmer, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Abbott, Thermo Fisher Scientific, and Standard BioTools.

Market players are deploying different growth strategies like partnerships, mergers, and acquisitions to increase their share in the microfluidic device industry. Further, industry participants are aware of the importance of research and development activities in advancing market growth. Thus, they persist in their efforts to develop technologically advanced microfluidic devices. Additionally, players are increasing their presence in emerging markets to raise revenues.

Recent Developments in the Microfluidic Device Market :

• A research team at the University of Minnesota Twin Cities developed a new microfluidic chip in May 2022. The innovation deploys the least count of components and can be wirelessly driven by a smartphone to diagnose diseases. Thus opening doors for more affordable and faster at-home medical testing.
• Standard BioTools, Inc., in October 2022, introduced the X9 real-time PCR system, which is a genomics instrument that offers high data output and efficiency in a single run. This launch helped in enhancing the product portfolio of the company.
• Amar Equipment, an India-based firm, introduced NanoMake, a microfluidics-based device, in February 2023. This launch increased the preclinical research for mRNA vaccines for COVID-19.

Segmentation of Microfluidic Device Market Research

• By Product :

  • Microchips
  • Flow and Pressure Sensors
  • Flow and Pressure Controllers
  • Microfluidic Valves
  • Micropumps/Microinjectors
  • Microfluidic-Based-Devices
  • Other Components

• By Application :

  • Disease Diagnostics
  • Pharma and Lifescience Research and Manufacturing
  • Others (Forensics, Environmental, Food Safety, and Quality Control)

• By End User :

  • Hospitals
  • Diagnostic Centers
  • Pharmaceutical and Biotechnology Companies
  • Academic and Research Institutes

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia and Oceania
  • Middle East and Africa