Maximize Market research, a leading global research firm has published a report on Microfluidics Market on 24/11/2022. The report includes key business insights and market sizing by region, products, and applications, with forecast till 2029.
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Microfluidics Market Scope and Research Methodology
The research report “Microfluidics Market” published by MMR, highly depends on both primary and secondary data sources. The report provides a quantitative analysis of the Microfluidics market drivers, restraints, trends, and estimations. PORTER’s five forces analysis shows the ability of buyers and suppliers to make profit-oriented strategic decisions and build their supplier-buyer network. In-depth analysis as well as the market size and segmentation assist in determining the current Microfluidics market potential. The report also includes the factors that are supposed to affect the business positively or negatively and will give a clear futuristic view of the industry to the decision-makers.
The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. The leading key players in the Microfluidics market focus on the growth of their contracts & agreements with the key objective of serving various industry sectors with a wide geographic presence. They are continuously strategizing on mergers & acquisitions for the expansion of their market share and growth opportunities during the forecast period.
Microfluidics Market Overview
Microfluidics is a technology that offers an excellent toolkit for handling and manipulating fluid samples, suspended cells, and particles. Microfluidics has increased in popularity in sectors such as pharmaceuticals and healthcare in recent years. Microfluidics devices offer significant advantages over traditional diagnostic methods in terms of accuracy, sensitivity, and specificity. It can be utilised for point-of-care (POC) testing, which is a major driver of the Microfluidics market. The continued development of new microfluidics technologies such as 3-D printed microfluidics, paper-based microfluidics, and droplet-based microfluidics is expected to offer significant market growth potential for the microfluidics market throughout the forecast period.
Microfluidics Market Dynamics
Point-of-care diagnostics is an important part of healthcare, particularly in disease diagnosis. Microfluidics, also known as Lab-on-Chip [LOC] devices for biosensors and diagnostics has proven to be a reliable and better medical technology as compared to traditional laboratory-based testing. Advantages such as portability, ease of access, ease of operation, and reduced process time compared to traditional techniques of diagnosis are driving widespread adoption of microfluidic POC testing, and this trend is likely to continue over the forecast period.
The use of microfluidic devices for drug administration offers several advantages, including a reduction in both pain and the risk of adverse effects. Microfluidics offers extra cost, user-friendliness, safety, and portability benefits. As microfluidics technology allows the development of portable and wearable products that can provide accurate and consistent drug administration, technologically advanced systems such as implanted drug delivery systems may generate significant opportunities for market participants. Pharmaceutical and medical device companies are investing heavily in creating new drug delivery systems by using microfluidics in order to gain profit from this market’s rapid growth.
Lack of understanding about disease prevention, limited access to healthcare information, and a shortage of sufficient healthcare services are some of the restraints that are expected to hamper the market growth during the forecast period.
Microfluidics Market Regional Insights
The Asia Pacific Microfluidics market had a modest revenue share in 2021. Increased demand from the biomedical and pharmaceutical sectors, as well as PoCT, the increasing prevalence of chronic diseases, and rising R&D investments, notably in Singapore are some of the major factors driving the Microfluidics market growth. In the region, various technologies for 30 printing microfluidic devices with fluid management and operational components are being developed and tested.
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Microfluidics Market Segmentation
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Maximize Market Research is leading Healthcare research firm, has also published the following reports:
Microfluidics Device Market – The Microfluidics Device Market size is expected to reach USD 108.33 Bn. by 2029 at a CAGR of 22.97 percent during the forecast period. The growing adoption of microfluidic technology and the continued roll-out of new products are the few factors driving market growth for Microfluidics Device Market.
Paper Diagnostic Market – The Paper Diagnostic Market size is expected to reach USD 14.54 Bn. by 2029 at a CAGR of 8.50 percent during the forecast period. The wider available, economic, easily engineered, biodegradable, combustible, biocompatible, sterilizable, hydrophilic, and easy to functionalize, and process into diagnostic devices are the few factors driving the market growth for Paper Diagnostic Market.
Polymeric Nanoparticles Market – The Polymeric Nanoparticles Market size is expected to reach USD 1,366.64 Mn. by 2029 at a CAGR of 10.6 percent during the forecast period. The usage of polymeric nanoparticles for the manufacturing of electronic goods like screens, laptops, and smartphones, among other items, as well as increased disposable income among the population are some of the major drivers expected to boost market revenue growth.
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