Microfluidic Devices Market Report 2024

This Microfluidic Devices market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The microfluidic devices market size has grown rapidly in recent years. It will grow from $7.63 billion in 2023 to $8.77 billion in 2024 at a compound annual growth rate (CAGR) of 15%. The growth during the historic period can be attributed to the significant increase in demand for point-of-care testing devices, a growing emphasis on cost reduction, the expanding use of 3D printing technology, rising demand in healthcare applications, and government funding for genomics and proteomics research.

The microfluidic devices market size is expected to see rapid growth in the next few years. It will grow to $15.56 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period is expected to be driven by the rising demand for microfluidic devices across various industries, an increase in the prevalence of infectious diseases, a growing geriatric population, expanded research and development (R&D) activities for technological advancements, and the increasing application of microfluidics in novel drug delivery systems. Key trends during this period include the introduction of new materials and techniques, the integration of microfluidic devices with artificial intelligence, advancements in biotechnology, the combination of microfluidics with smart technologies, and innovations focused on cost-effective devices.

The increasing prevalence of infectious diseases is expected to drive the growth of the microfluidic devices market. Infectious diseases are caused by pathogenic microorganisms, including bacteria, viruses, fungi, or parasites. The rise in these diseases is influenced by factors such as pathogen characteristics, environmental conditions, human behavior, and the availability of medical services. Microfluidic devices play a crucial role in combating infectious diseases due to their ability to precisely and efficiently handle and analyze small volumes of biological samples. These devices enhance the detection, diagnosis, and management of infectious diseases, leading to better health outcomes and more effective disease control. For example, in May 2024, a report from the Joint United Nations Programme on HIV/AIDS (UNAIDS) revealed that around 39 million people worldwide were living with HIV or AIDS in 2022, with approximately 1.3 million new HIV infections reported that year. As a result, the rising prevalence of infectious diseases is driving the growth of the microfluidic devices market.

Leading companies in the microfluidic devices market are focusing on developing innovative platforms, such as microfluidic chip-based systems, to streamline and automate complex laboratory processes, improve the precision and efficiency of experiments, and enable a wide range of applications. A microfluidic chip-based platform is a miniaturized device that integrates multiple laboratory functions onto a single chip, allowing precise control and analysis of small fluid volumes. For instance, in January 2023, SCIEX, a U.S.-based manufacturer of mass spectrometry instrumentation, launched the Intabio ZT system, the first fully integrated microfluidic chip-based platform. This platform combines imaged capillary isoelectric focusing (icIEF) separation with UV detection and utilizes Biologics Explorer software to enhance data processing capabilities, providing a deeper understanding of the biopharmaceuticals being analyzed.

In December 2022, CPS Fluidics LLC, a U.S.-based contract manufacturer specializing in custom microfluidic and flow cell technologies, acquired Hexano Corp for an undisclosed amount. This acquisition aims to expand CPS Fluidics' market reach and strengthen its position in the growing microfluidic device industry. Hexano Corp. is a Canada-based company that specializes in the development and manufacturing of microfluidic devices.

Major companies operating in the microfluidic devices market are Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Teledyne Technologies Incorporated, Illumina Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Zeon Corporation, Standard BioTools Inc., Biosurfit SA, Blacktrace Holdings Ltd., LioniX International B.V., CMC Microsystems Inc., Micronit Microfluidics B.V., Sphere Fluidics Limited, Microfluidic ChipShop GmbH, BlackHole Lab Inc., Bartels-Mikrotechnik GmbH, Hesperos Inc., Fluigent SA.

North America was the largest region in the microfluidic devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market going forward. The regions covered in the microfluidic devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the microfluidic devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Microfluidic devices are specialized tools designed to control and manipulate small fluid volumes, typically ranging from microliters to picoliters. These devices usually integrate complex fluid handling systems onto a single microchip or small substrate. Microfluidics involves the precise control of fluid flow within microchannels, enabling a diverse range of applications.

The primary types of microfluidic devices include chips, sensors, and others. Microfluidic chips are small devices featuring networks of channels, chambers, and wells that direct the flow of liquids. These devices are made from various materials such as glass, silicon, polymer, and others. They are utilized by various end-users, including pharmaceutical and biotechnology companies, research institutes, diagnostic centers, healthcare facilities, and others.

The microfluidic devices market research report is one of a series of new reports that provides microfluidic devices market statistics, including microfluidic devices industry global market size, regional shares, competitors with a microfluidic devices market share, detailed microfluidic devices market segments, market trends, and opportunities, and any further data you may need to thrive in the microfluidic devices industry. This microfluidic devices research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The microfluidic devices market consists of sales of microchannels, microvalves, and microelectrodes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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