Report : Microfluidics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Microfluidic Chips, Microfluidic Sensors, Devices , Micropumps, Microneedles and Other Products), Material (PDMS, Polymers, Glass, Silicon, and Other Materials), Application (In Vitro Diagnostics, Pharmaceutical and Life Science Research, Drug Discovery, and Other Applications); and Geography
Market for Microfluidic Chips to Grow at Highest CAGR during 2020–2027
According to our new market research study on "Microfluidics Market to 2027 – Global Analysis and Forecast – by Product, Material, and Application," the market is expected to reach US$ 43,398.7 million by 2027 from US$ 11,851.1 million in 2019; it is estimated to grow at a CAGR of 17.9% from 2020 to 2027. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth.
Based on the product, the global microfluidics market is segmented into microfluidic chips, microfluidic sensors, micropumps, microneedles, devices, and other products. The microfluidic chips segment is estimated to register the highest CAGR in the market during the forecast period. Themicrofluidic chips are used with multiple assays, and they can also be reused for additional cost benefits; these factors drive the growth of the microfluidic chips market.
The growth of the global microfluidics market is mainly ascribed to the rising demand for microfluidics technologies in point-of-care testing, and innovations in microfluidics products. However, the lower adoption in emerging economies is restraining the market growth.
Agilent Technologies, Inc.; BD, Bio-Rad Laboratories Inc.; Danaher; Dolomite Microfluidics (Blacktrace Holdings Ltd.); Fludigm Corporation; Illumina, Inc.; microfluidic ChipShop GmbH, Perkin Elmer, Inc., and Thermo Fisher Scientific Inc.; are among the leading companies operating in the microfluidics market.
The report segments global microfluidics market as follows: