Latest News- Microfluidics For Healthcare Application Market: In-vitro diagnostics is expected to lead the Application segment during 2024-2028

The Microfluidics For Healthcare Application Market is being driven by Compact size of microfluidic devices

The Microfluidics For Healthcare Application Market is expected to grow at a CAGR of 27.16% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 110.2 billion. The microfluidics market for healthcare applications is poised for significant disruption with the emergence of paper-based diagnostics. In 2021, research intensified in producing microfluidic devices using hydrophobic channel walls printed on paper. These hydrophobic walls facilitate controlled liquid flow and direction, while the use of paper significantly reduces manufacturing costs and simplifies disposal. Although paper-based techniques were previously limited to simple device designs, their application in microfluidics holds immense potential for cost-effective and accessible healthcare solutions in the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • In-vitro diagnostics
  • Pharmaceutical research
  • Drug delivery services
• Material
  • Polymer-based
  • Glass-based
  • Silicon-based
• Geography
  • North America
    • US
  • Europe
    • Germany
    • UK
  • APAC
    • China
    • Japan
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Compact size of microfluidic devices
• Growth in lifestyle diseases
• Advances in DNA sequencing

However, the market also witnesses some limitations, which are as follows:

• Changes in properties of fluids at microscopic level
• Lack of trained laboratory professionals
• Reliability issues

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Market Scope in Microfluidics For Healthcare Application Market Research Report

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Research Analysis Overview

Microfluidics, a technology that manipulates fluids at the microscale, has revolutionized various industries, particularly in healthcare applications. The microfluidics market in healthcare is growing rapidly due to its potential in clinical diagnostics, drug delivery systems, and medical research. In clinical diagnostics, microfluidics is used for microdispensing, capillary electrophoresis, and PCR technique for genome analysis, infection detection, and glucose level monitoring. Microfluidic devices made of silicon, glass, and polymers are used for these applications. Soft lithography is a common method for fabricating microfluidic chips. In drug delivery systems, microfluidics is used for insulin pumps and microneedles. The technology also plays a significant role in drug discovery and vascular endothelium studies. The microfluidics market in healthcare is expected to grow significantly due to its potential in improving patient outcomes, reducing costs, and enabling personalized medicine.

Market Research Overview

According to Technavio, the microfluidics for healthcare applications market is a significant segment of the global healthcare equipment industry. This market encompasses companies and products dedicated to research and development (R&D) of advanced diagnostic equipment and devices, capital equipment, implants, accessories, and consumables. These solutions contribute to the diagnosis, monitoring, and treatment of various diseases. The global healthcare equipment market size is determined by the consolidated revenue generated by manufacturers in the diagnostic devices sector. The healthcare equipment sector is segmented into devices, which includes differentiated, clinically tested, and data-driven devices, ensuring improved patient outcomes and enhanced efficiency in healthcare delivery. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/