Microfluidics Market Worth $44.0 Billion by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, May 15, 2020 /PRNewswire/ -- According to the new market research report "Microfluidics Market by Product (Devices, Components (Chips, Sensors, Pump, Valves, and Needles), Application (IVD [POC, Clinical, Veterinary], Research, Manufacturing, Therapeutics), End User and Region - Global Forecast to 2025", published by MarketsandMarkets, the global Microfluidics Market size is projected to reach USD 44.0 billion by 2025 from USD 15.7 billion in 2020, at a CAGR of 22.9% during the forecast period.

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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.

The microfluidic-based devices segment is expected to grow at the highest CAGR during the forecast period

Based on products, the microfluidics market is segmented into microfluidic-based devices and microfluidic components. The microfluidic-based devices segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing adoption of microfluidic devices owing to the various advantages offered by microfluidic technology, such as rapid testing and low sample and reagent consumption.

Browse in-depth TOC on "Microfluidics Market"

218 – Tables

57 – Figures  

286 – Pages

The microfluidic chips segment is expected to grow at the highest CAGR during the forecast period

Based on type, the microfluidic components market is segmented into microfluidic chips, flow and pressure sensors, flow and pressure controllers, micropumps, microfluidic valves, microneedles, and other components (connectors, tubes, droplet generators, temperature controllers, and OEM components, among others). The microfluidic chips segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing consumption of microfluidic chips in microfluidic-based laboratory analytical instruments, increasing point-of-care testing, rising preference for personalized medicine, growing drug discovery & life science research, and the need for high-speed diagnostics.