Microfluidics Technology Market to record USD 29.41 Bn growth; Healthcare technology market identified as parent market

NEW YORK, Nov. 21, 2022 /PRNewswire/ -- The "Microfluidics Technology Market by Material and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 29.41 billion accelerating at a CAGR of 19.42% during the forecast period. Technavio categorizes the global microfluidics technology market as a part of the global healthcare technology market, which, in turn, is a part of the global healthcare market. The market includes the revenue generated from the sales of healthcare applications and IT systems, Internet-based healthcare tools (such as monitoring devices), and IT consulting services to clinics, hospitals, or businesses operating primarily in the healthcare sector. Technavio calculates the global healthcare technology market size based on the combined revenue generated by manufacturers/providers of equipment, supplies, pharmaceuticals, biotechnology, healthcare technology players, and life sciences tools and services. Get more highlights into the parent market analysis. Download a Free PDF Report Sample

Microfluidics Technology Market 2022-2026: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The microfluidics technology market report covers the following areas:

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Microfluidics Technology Market 2022-2026: Scope

The global microfluidics technology market is highly fragmented, with small and large vendors operating in a highly competitive environment. The market players compete on various factors such as price, brand, availability, and variety. Price is a major base for competition among players to gain an edge in the market. The growth of the players in the market also depends on market conditions, government support, and industry development. Access to capital and advances in product innovations are major barriers to the entry of new players. Therefore, vendors must expand geographically as well as revive domestic demand to achieve sustained growth over time. Vendors can boost profitability by practicing efficient production techniques to minimize product costs and prevent cost overruns. There are a sizeable number of small regional vendors in the market. Intense competition and declining profit margins are significant risk factors for the vendors. Therefore, to survive and succeed in this intensely competitive environment, it becomes imperative for vendors to differentiate their product and service offerings through clear and unique value propositions. Get more insights into the vendor landscape. Download a Free PDF Report Sample

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Microfluidics Technology Market 2022-2026: Segmentation

The global microfluidics technology market is segmented as below:

The polymer-based microfluidics segment will have the largest share of the market. During the past decade, there has been significant progress in PMMA microfluidic chips. It is expected that PMMA microchips will find a wide range of applications in the healthcare industry and will lead to the creation of truly disposable microfluidic devices. Thus, the increased adoption of polymer-based microfluidics in various healthcare applications is driving the growth of the global microfluidics technology market in this segment.

Hospitals are the prime-end users in the market. The hospital segment in which microfluidics technology may serve as autologous material for cell replacement therapies or even future organ transplants, with the possibility to correct disease-causing mutations before transplantation. The microfluidics technology will revolutionize precision diagnostic approaches and future drug development in diagnostic centers.

33% of the market growth will come from North America during the forecast period. The market in North America generates the highest revenue in the global microfluidics technology market. The region is dominated by the US, Canada, and Mexico. One of the factors for the high demand for this market in the US is the high investment in healthcare research and testing.

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Microfluidics Technology Market 2022-2026: Vendor Analysis

Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Biocartis Group NV, BioFluidix GmbH, Blacktrace Holdings Ltd., Cellix Ltd., Danaher Corp., Elveflow, Epigem Ltd., F. Hoffmann La Roche Ltd., Fluigent SA, iBiochips, IDEX Corp., Illumina Inc., PerkinElmer Inc., QIAGEN NV, SMC Corp., Standard BioTools Inc., and Thermo Fisher Scientific Inc. are among some of the major market participants. Understand how the purchase of the report can have a direct impact on your revenue. Download a Free Sample Report Now

Microfluidics Technology Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026

• Detailed information on factors that will assist microfluidics technology market growth during the next five years

• Estimation of the microfluidics technology market size and its contribution to the parent market

• Predictions on upcoming trends and changes in consumer behavior

• The growth of the microfluidics technology market

• Analysis of the market's competitive landscape and detailed information on vendors

• Comprehensive details of factors that will challenge the growth of microfluidics technology market vendors

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Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Material

6 Market Segmentation by End-user

7 Customer Landscape

8 Geographic Landscape

9 Drivers, Challenges, and Trends

10 Vendor Landscape

11 Vendor Analysis

12 Appendix

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