The global microfluidic devices market is predicted to reach US$ 34.5 Billion by 2028. Microfluidics is the technology that deals with the flow of liquids through microscopic channels such as chips, nozzles, and pumps. Microfluidics is a huge potential area of science which allows high-throughput screening and experimentation that revolve around a series of techniques. The technology is used for processing and manipulating small amounts of liquids using channels that possess micrometer dimensions. With the recent advancements in the biotechnology domain, microfluidic devices promise to be of huge commercial importance. The factors, such as the rising demand for POC testing, high incidence rate of lifestyle diseases, technological advancements, increasing focus on data precision & accuracy, fast returns on investment and faster testing & improved portability through microfluidic chip miniaturization, are driving the market. Moreover, factors such as the growing geriatric population, increasing investments in the healthcare industry, rising demand for advanced technologies and the expansion of private-sector hospitals to rural areas in various countries has boosted the growth of microfluidic devices.
Recent Developments
Impact of COVID-19 on Global Microfluidic Devices Market
The COVID-19 outbreak has become a global stress test. As the number of people infected with the virus continues to rise around the world, uncertainties about global economic growth increases. The COVID-19 disease has infected around 553 Million people worldwide. Globally the death toll has reached 6,358,211 according to the latest statistics from the Worldometers (as of July 1, 2022). The number is still growing, and the duration of the pandemic is still difficult to predict. COVID-19 has positively impacted the microfluidics market. As countries work to contain the COVID-19 pandemic, the need for effective diagnostic testing has been front and center. Microfluidics has gained a lot of attention with respect to the diagnosis of COVID-19. For instance, US-based researchers from Broad Institute have developed a CRISPR-based molecular diagnostics stage with the help of microfluidics chips to detect viruses in human samples. This single chip has the potential to detect a single virus in more than 1,000 samples at a time. With the outbreak of pandemic COVID-19 every country is increasing expenditure on healthcare, research & development, lab testing devices where the microfluidics also plays a vital role which is likely to boost the growth of the market.
By Device Type - Global Microfluidic Devices Market and Forecast
By Material - Global Microfluidic Devices Market and Forecast
By Application - Global Microfluidic Devices Market and Forecast
By Industry - Global Microfluidic Devices Market and Forecast
By Geography - Microfluidic Devices Market and Forecast
iGATE RESEARCH report titled "Microfluidic Devices Market (by Device Type, Material, Application, Industry, Geography), Impact of COVID-19, Company Profiles and Recent Developments - Global Forecast to 2028" provides a comprehensive assessment of the fast-evolving, high-growth Global Microfluidic Devices Market.
This 172 Page report with 84 Figures and 10 Tables has been analyzed from 10 viewpoints:
By Device Type - Global Microfluidic Devices Market and Forecast
By Material - Global Microfluidic Devices Market and Forecast
By Application - Global Microfluidic Devices Market and Forecast
By Industry - Global Microfluidic Devices Market and Forecast
By Geography - Microfluidic Devices Market and Forecast
Global Microfluidic Devices Market - Company Profiles
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