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| Global Microfluidics Market to Surpass Valuation of $90.26 Billion by 2030, Recording a CAGR of 15.16%, Driven by Growing Integration in Healthcare & Diagnostics, States Kings Research | ||
| By: PR Newswire Association LLC. - 05 Feb 2024 | Back to overview list |
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DUBAI, UAE, Feb. 5, 2024 /PRNewswire/ -- As per the latest report published by Kings Research, the global Microfluidics Market size was recorded at USD 29.17 billion in 2022 and is estimated to grow to USD 90.26 billion by 2030, registering a CAGR of 15.16% through the projection period of 2023-2030. The main factor impelling market growth is the growing integration of microfluidic technology in several sectors. Microfluidics is revolutionizing patient care in the healthcare and diagnostics industry by enabling faster and more accurate diagnostic testing, drug delivery systems, and lab-on-a-chip applications. Microfluidics is also particularly beneficial to the pharmaceutical and life sciences sectors, which use it for high-throughput screening, formulation, and drug discovery. Microfluidics refers to the discipline that focuses on the manipulation and regulation of fluids on a minuscule scale, often occurring within channels measuring only a few micrometers. This field encompasses the creation, construction, and utilization of devices capable of accurately managing small quantities of liquids. The range of applications for microfluidics is extensive and spans multiple industries. Within the healthcare and diagnostics sector, microfluidic devices have found utility in point-of-care diagnostic examinations, DNA analysis, and drug administration systems. Microfluidic devices have the advantage of delivering quicker and more precise outcomes, all while minimizing the quantity of samples needed. Request Sample PDF of the Report: https://www.kingsresearch.com/request-sample/microfluidics-market-266 Trending Now: Australian Scientists Unveil Innovative Static Droplet Microfluidic Device Enabling Cancer Cell Detection through Simple Blood Tests In September 2023, researchers at the University of Technology (UTS) in Sydney, Australia, devised an innovative method for identifying tumor cells in the blood. According to a UTS news release, this approach utilizes imaging to induce fluorescence in cells with elevated lactase. The UTS team engineered a Static Droplet Microfluidic (SDM) device capable of detecting circulating tumor cells (CTCs) that have detached from the cancer source and entered the bloodstream. The isolation of CTCs aligns with the fundamental concept of liquid biopsies, and the use of microfluidic devices can enhance the efficiency of capturing problematic cells. The newly developed SDM device at the UTS holds the potential for early cancer detection, paving the way for medical professionals to monitor and treat cancers more effectively. Inquire Before Buying This Report: https://www.kingsresearch.com/enquiry/microfluidics-market-266 Competitive Landscape Major companies operating in the global microfluidics market are focusing on partnerships and collaborations to retain their standing in the competitive market landscape. For instance, Dolomite Microfluidics and Phosphorex formed a collaboration in January 2022 with the goal of accelerating the advancement of lipid nanoparticle (LNP) technology. This partnership strives to optimize the production of LNPs, which play a pivotal role in the efficient delivery of genetic therapies, vaccines, and medications. By working together, these companies aspire to bring about a paradigm shift in the realm of drug delivery, ultimately leading to improved patient outcomes. Prominent players in the global microfluidics market include:
Ask for Customization: https://www.kingsresearch.com/customization/microfluidics-market-266 The global Microfluidics Market is segmented as: By Application
Ongoing Development of Innovative Microfluidics Solutions to Fuel Demand in Healthcare and Diagnostics Sector On the basis of application, the healthcare and diagnostics segment contributed to a sizable share of the microfluidics market revenue in 2022 and is anticipated to experience significant growth through the projection timeframe. The healthcare industry is expected to grow substantially in the coming years due to the increasing demand for fast and accurate diagnostic tests, point-of-care devices, and the continuous development of innovative microfluidic solutions. Microfluidics plays a vital role in improving patient care by providing efficient and precise diagnostic tools. Given the current emphasis on healthcare efficiency and accessibility, the healthcare and diagnostics segment is set to dominate the market in the near future. By Material
Use of Polymer-based Materials in the Production of Microfluidic Devices to Increase Due to its Versatility In terms of material, the polymer-based segment accounted for the largest revenue share in the global microfluidics market in 2022 and is anticipated to continue to lead the market over the forecast period. The growth of the segment can be attributed to the versatility and cost-effectiveness of polymer materials in producing microfluidic devices. Microfluidics made from polymers have several advantages, such as easy fabrication, transparency, and compatibility with various applications in healthcare, diagnostics, and research. As the demand for affordable and scalable microfluidic solutions continues to increase, polymer-based microfluidics are expected to maintain their position as the preferred choice in the market. This ensures their continued prominence and market dominance. Purchase This Comprehensive Research Report for Valuable Market Insights: https://www.kingsresearch.com/buy-now/266 Growing Need for Point-of-care Diagnostics in the Healthcare Industry to Fuel Microfluidics Market Expansion The microfluidics market is witnessing substantial growth as a result of the increasing need for point-of-care diagnostics within the healthcare industry. These devices facilitate the creation of handheld and user-friendly diagnostic tools that deliver rapid and precise results. This holds particular significance in distant or resource-constrained regions where traditional laboratory testing accessibility is restricted. Moreover, there is another potential avenue for growth in the field of microfluidics that pertains to the further development of organ-on-a-chip technology. This emerging area presents significant possibilities for pharmaceutical research, disease modeling, and drug testing. Organ-on-a-chip devices are capable of replicating the physiological conditions of specific organs, facilitating a more precise examination of the effects of drugs and treatments. By minimizing dependence on animal testing and enhancing the efficiency of drug development procedures, this technology carries the potential to vastly improve the industry. North America to Dominate Microfluidics Market Due to Established Framework for R&D North America led the global microfluidics market in 2022 and is likely to experience considerable growth in the following years. The presence of a firmly established framework for research and development in the region incorporates various educational establishments, research bodies, and tech enterprises actively engaged in the study and practical use of microfluidics. Moreover, the healthcare and pharmaceutical industries in the region have been quick to embrace microfluidic technology, employing it for purposes such as diagnostic examinations, drug creation, and lab-on-a-chip applications. For more information on the report, visit: https://www.kingsresearch.com/microfluidics-market-266 Key Points from TOC: 1 Introduction of The Global Microfluidics Market 2 Executive Summary 3 Research Methodology 4 Global Microfluidics Market Outlook 5 Impact of Russia-Ukraine War 6 Global Microfluidics Market, By Application 12 Asia Pacific 15 Global Microfluidics Market Competitive Landscape 16 Company Profiles 16.2 Agilent Technologies Inc. 16.3 Fluidigm Corporation 16.4 PerkinElmer Inc. Continued…... Browse Complete TOC: https://www.kingsresearch.com/toc/microfluidics-market-266 Browse More Related Reports: Genealogy Products and Services Market: Global Industry Analysis and Forecast 2023-2030 Latex Agglutination Test Kits Market: Global Industry Analysis and Forecast 2023-2030 Mobile Endoscopic Workstations Market: Global Industry Analysis and Forecast 2023-2030 Real Time Polymerase Chain Reaction Systems Market: Global Industry Analysis and Forecast 2023-2030 PD-1 and PD-L1 Inhibitors Market: Global Industry Analysis and Forecast 2023-2030 About Us: Kings Research stands as a renowned global market research firm. With a collaborative approach, we work closely with industry leaders, conducting thorough assessments of trends and developments. Our primary objective is to provide decision-makers with tailored research reports that align with their unique business objectives. Through our comprehensive research studies, we strive to empower leaders to make informed decisions. Our team comprises individuals with diverse backgrounds and a wealth of knowledge in various industries. At Kings Research, we offer a comprehensive range of services aimed at assisting you in formulating efficient strategies to achieve your desired outcomes. Our objective is to significantly enhance your long-term progress through these tailored solutions. Contact Us Kings Research
SOURCE Kings Research 
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