This report aims to provide detailed insights into the global Microfluidics Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Expected Revenue Growth:
The global microfluidics market is projected to reach USD 58.8 billion by 2026 from USD 20.7 billion in 2021, growing at a CAGR of 23.2% during the forecast period.
Microfluidic technologies offer quick analysis, reduced reagent consumption, and accurate test results and help in reducing the overall cost of the drug development process. In addition to these factors, the demand for microfluidics technology is increasing owing to the growing demand and adoption of PoC diagnostic devices, such as glucose monitoring and pregnancy test kits.

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Key Market Players
The prominent players in the microfluidics market are Parker Hannifin Corporation (US), SMC Corporation (Japan), IDEXX Corporation (US), Fluigent SA (France), Aignep S.P.A. (Italy), Camozzi Automation SPA Societá Unipersonale (Italy), Dolomite microfluidics (UK), Elveflow (France), Cellix Limited (Ireland), Fortive Corporation (US), Danaher Corporation (US), Thermo Fisher Scientific Inc. (US), Perkinelmer, Inc. (US), Agilent Technologies, Inc. (US), Bio-Rad Laboratories, Inc. (US), Becton, Dickinson and Company (US), Illumina Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Fluidigm Corporation (US) and Abbott Laboratories (US).
The microfluidic-based devices segment holds the largest market share during the forecast period.
Based on product, the microfluidics market is broadly classified into microfluidic-based devices and microfluidic components. In 2020, the microfluidic-based devices segment accounted for the largest share of the microfluidics market by product. The large share of this segment can majorly be attributed to the increasing adoption of technologically advanced microfluidic-based devices in pharmaceutical & life science research, increasing need for miniaturization of laboratory equipment, growing demand for microfluidic-based PoC testing, and the increasing use of microfluidic technology for drug discovery.
The microfluidic chips segment is expected to account for the highest rate of the Microfluidics market
The microfluidic components market, by type, is segmented into microfluidic chips, flow and pressure sensors, flow and pressure controllers, micropumps, microfluidic valves, microneedles, and other microfluidic components. The microfluidic chips segment accounted for the highest rate of 21.8% of the microfluidic components market in 2020. The increasing demand for PoC testing, growing preference for personalized medicine, an increasing number of drug discovery and life science research activities, growing need for high-speed diagnostics, and increasing government funding are factors responsible for the growth of this segment in the microfluidic market.

The in-vitro diagnostic segment is expected to grow at the highest rate during the forecast period
In this report, the microfluidics market is broadly classified into three major application segments—in vitro diagnostics, pharmaceutical & life science research and manufacturing, and therapeutics. The in vitro diagnostics segment accounted for the rate of the microfluidics market in 2020. The large share of this segment is mainly attributed to the rising incidence of target diseases and the growing demand for PoC testing. The advantages of microfluidic devices over traditional devices (such as portability, compact size, increased frequency of testing, and accurate & quick analysis) have also driven the adoption of these devices in IVD applications.
In the end user segment, hospitals & diagnostic centers is expected to grow at the highest share in the microfluidics market
The microfluidics market is segmented into hospitals and diagnostic centers, academic & research institutes, and pharmaceutical & biotechnology companies based on end users. The hospitals and diagnostic centers segment accounted for the largest share of the end users market in 2020. Factors attributing to the large share of the segment include the increasing use of microfluidic-based diagnostic devices, increasing adoption of microfluidic technology for the rapid diagnosis of various chronic diseases, and rising technological advancements.

North America is expected to account for the highest share for players operating in the microfluidics market
In 2020, North America accounted for the largest share 41.7% of the global microfluidics market, followed by Europe, the Asia Pacific, and Latin America. North America has various additional advantages—investment initiatives by governments and the presence of high-quality infrastructure for clinical and laboratory research. APAC is know to grow at the highest rate. The growth in the market can be attributed to increasing R&D activities, rising government funding for drug discovery research, and high growth in the pharmaceutical and biotechnological industries.

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