DUBLIN–(BUSINESS WIRE)–Feb 8, 2021– The "Global Microfluidic Devices Market (by Device Type, Material, Application, Industry, Geography), Impact of COVID-19, Company Profiles and Recent Developments – Forecast to 2026" report has been added to ResearchAndMarkets.com’s offering. The global microfluidic devices market is projected to reach US$ 22.65 Billion by 2026. Microfluidics is the technology that deals with the flow of liquids through microscopic channels such as chips, nozzles, and pumps. Microfluidics allow high-throughput screening and experimentation that revolve around a series of techniques. The technology is used for processing and manipulating small amounts of liquid using channels that possess micrometer dimensions. 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. By Device Type – Global Microfluidic Devices Market and Forecast
- The chips segment accounted for maximum share of the microfluidic devices market in 2019.
- Sensors is the second leading segment for microfluidic devices market, responsible for around 20% share in 2019.
- Micro needle system plays an important role in pharmaceutical, biotechnology and medical industries.
- Globally, the market for microfluidic pumps is gaining significant importance due to growing R&D investment in life sciences, pharmaceuticals, and increasing point of care testing demand.
By Application – Global Microfluidic Devices Market and Forecast
- Pharmaceutical and life sciences research commands the largest share of the microfluidic devices market.
- Clinical and veterinary diagnostics is the second leading application segment for microfluidic devices market.
- Point-of-care diagnostic devices founded in microfluidic technologies will lead the change to personalized medicine, thereby, having a great effect in the diagnosis and treatment of diseases.
By Industry – Global Microfluidic Devices Market and Forecast
- In-vitro diagnostics remained the largest segment type by industry, accounting for around 50% share of the microfluidic devices market in 2019.
- Microfluidic technologies are emerging as powerful tools for the drug discovery and development processes.
- The technological advancements in medical devices such as miniaturization, automation and enhanced functionality with help of complex electrical control, mechanical properties are major factors driving growth of the global microfluidics medical devices market.
By Geography – Microfluidic Devices Market and Forecast
- North America accounted for largest share of the microfluidic devices market, followed by Europe.
- In Europe microfluidic devices market, Germany accounted for the largest market share in 2019.
- The United Kingdom has observed the fastest growth in the Europe microfluidics market in the past few years.
- Asia Pacific is the fastest growing market for microfluidic devices.
- With the outbreak of COVID-19 pandemic every country is increasing expenditure on healthcare, research & development, lab testing devices where microfluidics plays a vital role.
- It is predicted that the Middle East and Africa will account for around 5% share of the microfluidic devices market by 2026.
This report provides a comprehensive assessment of the fast-evolving, high-growth Global Microfluidic Devices Market. Key Topics Covered: 1. Executive Summary 2. Impact of COVID-19 on Global Microfluidic Devices Market 3. Global Microfluidic Devices Market and Forecast (2015 – 2026) 4. Global Microfluidic Devices Market Share and Forecast (2015 – 2026) 5. By Device Type – Global Microfluidic Devices Market and Forecast (2015 – 2026) 6. By Material – Global Microfluidic Devices Market and Forecast (2015 – 2026) 7. By Application – Global Microfluidic Devices Market and Forecast (2015 – 2026) 8. By Industry – Global Microfluidic Devices Market and Forecast (2015 – 2026) 9. By Geography – Microfluidic Devices Market and Forecast (2015 – 2026) 10. Global Microfluidic Devices Market – Recent Developments 11. Global Microfluidic Devices Market – Company Profiles 11.1 uFluidix 11.2 PerkinElmer Inc. 11.3 Fluidigm 11.4 Blacktrace Holdings Ltd. (Dolomite Microfluidic) 11.5 Micronit 11.6 BioFluidix Gmbh 11.7 Fluigent 11.8 ALine Inc. 11.9 Philips 11.10 Danaher Corporation 11.11 Thermo Fisher Scientific 11.12 Agilent Technologies 11.13 Becton, Dickinson and Company 11.14 Illumina, Inc. 11.15 Abbott Laboratories 12. Global Microfluidic Devices Market – Growth Drivers 12.1 Application of Cost-Effective Materials for Manufacturing Likely to Propel the Microfluidic Devices Market 12.2 Increasing Usage of Microfluidic Chips for Biomedical Applications 12.3 Microfluidic Chips Miniaturization Helps to Reduce Testing Time and Cost 12.4 Rising Demand for Point-of-Care (POC) Testing to Drive Market Growth 12.5 Quick Return on Investments Helping in Cost Reductions 12.6 Advancements in Microfluidics Technology to Drive Market 13. Global Microfluidic Devices Market – Challenges For more information about this report visit https://www.researchandmarkets.com/r/kwv57w About ResearchAndMarkets.com ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. View source version on businesswire.com:https://www.businesswire.com/news/home/20210208005327/en/ CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 KEYWORD: INDUSTRY KEYWORD: HEALTH GENERAL HEALTH SOURCE: Research and Markets Copyright Business Wire 2021. PUB: 02/08/2021 05:16 AM/DISC: 02/08/2021 05:16 AM http://www.businesswire.com/news/home/20210208005327/en