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Microfluidic Sensors Market Overview
Microfluidic
Sensors market size was valued at $1.4 billion in 2020, and it is estimated to grow at a CAGR of 6.9%
during 2021-2026. The growth is mainly attributed to the increasing demand for
point-of-care testing, technological advancements, and increasing focus on data
precision and accuracy is set to drive the market growth. Additionally, the growing
demand for miniature portable devices, and consumer
electronics and wearable devices further propel the microfluidic sensor market
during forecast period. Miniaturization is transforming the world of
electronics and this has led to the increase in businesses around the world.
The adoption of technologies such as nanotechnology, mass spectrometry,
prototyping and micro-technologies in numerous end-user industries is changing
the landscape and positively influencing the implementation of a procedure in
businesses. Healthcare is one industry that is using such technologies
exuberantly. Integrating micro and nanotechnologies in the healthcare segment
in Integrated circuits and X-Ray Lithography which is optimizing
microbiological process, biochemical process, and clinical diagnostics.
Report Coverage
The report: “Microfluidic Sensors Market Forecast (2021-2026)”,
by IndustryARC, covers an in-depth analysis of the following segments of
the Microfluidic Sensors Market.
By Application: In
vitro diagnostics, pharmaceutical research, and others.
By End User:
Pharmaceutical and Biotechnology, Research Institutes, Healthcare Facilities and
others.
By Geography: North
America (U.S., Canada and Mexico); Europe (U.K., Germany, Italy, France, Rest
of Europe); APAC (China, Japan, South Korea, India, Rest of APAC); South
America (Brazil, Argentina, Rest of Americas); RoW (Middle East & Africa).
Key Takeaways
- North America dominated the Microfluidic Sensors market in term of revenue in 2020 owing to the presence of major number of players and adoption of advanced technologies.
- Advancements in technology and adoption of wearable technology has been driving the microfluidic sensor market.
- Development of advanced products and acquisition of the companies is set to drive the microfluidic sensor market.
- Noise and Sensor defects are the major challenge that hampers the market growth.
Microfluidic Sensor Market, By Geography, 2020 (%)
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Microfluidic Sensors Market Segment Analysis – By Type
In vitro
diagnostics held the major share of 46.9% in 2020. These sensors can monitor
body signals with high sensitivity and wide dynamic range, enabling in vitro
diagnostics and the use of therapeutic devices, thereby driving the market
growth. Adoption of wearable sensor devices in diagnostics further propel the
market growth owing its low cost, portability and ease of use. Additionally,
increasing effective and rapid point-of-care (POC) diagnostics to revolutionize
public healthcare both in developed and developing countries further boost the
market growth. The growing incidences of diseases, as stated above, support the
dire need for ethical, efficient and fast diagnostic systems. Microfluidics is
an electronic device that is used for diagnostics purposes. Microfluidics, also
known as lab-on-chip, is used for micro total analysis that assists in chemical
and biological analysis. This technology is mostly applied in the healthcare
sector that deals with the study of the flow of fluids through microscopic or
miniscule channels. It can be explained by managing the manipulation and
control of fluids at a sub-millimeter scale. Microfluidics involves
formulation, manufacture, and designing of processes and devices which further
deals with an exceptionally low volume of fluid. This ultimately helps in
optimizing control of laboratory processing, analytical techniques, and
instrument handling.
Microfluidic Sensors Market Segment Analysis – By End User
Hospitals and
diagnostic centers is the fastest growing segment in Microfluidic Sensors market
and estimated to grow at a CAGR of 8.0% during the forecast period 2021-2026. The
growth is mainly attributed to the growing use of microfluidic sensors for the
rapid application in diagnosis of various chronic diseases. Additionally,
technological advancements, and the inherent advantages of microfluidics
technology further drive the market growth. The need for closer monitoring and
faster diagnosis is also propelling the market growth.
Microfluidic Sensors Market Segment Analysis – By Geography
North America dominated the Microfluidic
Sensors market in 2020 with a market share of 34.7%, followed by Europe and
APAC owing to the early adoption of advanced technologies. Additionally, the
presence of major players increases the market growth. As U.S. is the leading
in healthcare sector, high adoption of microfluidic sensors in this sector
drives the market in this region. Additionally, active participation of
research institutes in this region for the development of novel microfluidic
devices is expected to enhance the market growth in this region.
Microfluidic Sensors Market Drivers
Adoption of microfluidic sensors in industries such as pharmaceutical and research centers
Adoption of micro fluidic sensors in the
pharmaceutical sector drives the market growth as they are used for drug
development. Advancements in micro fabrication and microfluidics provide
opportunities for drug analysis, including drug screening, active testing and
the study of metabolism. Additionally, growing global pandemic disease such as
covid-19 further drives the adoption of microfluidic sensors in research
laboratories.
Advancements in Technology
Development and adoption of wearable technology is
poised to drive the microfluidic sensor market. Growing trend for wearable
flexible sensors based on integrated microfluidic networks with multiplex
analysis has been pushing the market growth. This technology is used for assessing
human health status and show great potential in applications such as clinical
medicine and athletic monitoring. The microfluidic sensors can be attached to
the skin surface in order to gather various pieces of physiological information
with high precision such as sweat loss, electrolyte balance and information
regarding metabolites and this pushes the market growth.
Microfluidic Sensors Market Challenges
Noise and Sensor defects
Noise is the
huge problem associated with the microfluidic sensors in analytical particularly
in a clinical environment. The noise caused by air bubbles trapped within the
microfluidic system hampers the market growth. Additionally, high cost
associated with these sensors restricts the market growth. However, adoption of
advanced technologies and development of advanced sensors create opportunities
for the market growth.
Microfluidic Sensors Market Landscape
Product launches, Acquisitions,
Collaboration, and R&D activities are key strategies adopted by players in
the Microfluidic Sensors market. Microfluidic Sensors top 10 companies include Thermo
Fisher Scientific, PerkinElmer, Agilent, Danaher, Roche, Bio-Rad, Dickinson and
Company, Illumina, Becton, Fluidigm and others.
Acquisitions/Technology Launches
- In September 2019, Fluidigm Corporation had launched a novel microfluidics based workflow Advanta RNA-Seq NGS Library Prep Kit which is designed for the preparation of RNA sequencing libraries. Development of advanced products increase Company’s microfluidic Sensors market share.
- In January 2019, Loreal had unveiled first ever microfluidic sensor in order to measure skin PH levels. Adoption of microfluidic sensor for testing applications is set to drive the market growth.
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1. Microfluidic Sensor Market Overview
1.1 Definitions and Scope
2. Microfluidic Sensor Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends By Application
2.3 Key trends segmented by Geography
3. Microfluidic Sensor Market – Market Landscape
3.1 Comparative Analysis
3.1.1 Product/Company Benchmarking-Top 5 Companies
3.1.2 Top 5 Financial Analysis
3.1.3 Market Value Split by Top 5 Companies
3.1.4 Patent Analysis
3.1.5 Pricing Analysis (Comparison of General Price of Industry Solutions)
4. Microfluidic Sensor Market – Industry Market Entry Scenario Premium (Premium)
4.1 Regulatory Scenario
4.2 Ease of Doing Business Index
4.3 Case Studies
4.4 Customer Analysis
5. Microfluidic Sensor Market – Startup Company Scenario (Premium)
5.1 Venture Capital and Funding Scenario
5.2 Startup Company Analysis
6. Microfluidic Sensor Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Porters five force model
6.3.1 Bargaining power of suppliers
6.3.2 Bargaining powers of customers
6.3.3 Threat of new entrants
6.3.4 Rivalry among existing players
6.3.5 Threat of substitutes
7. Microfluidic Sensor Market – By Strategic Analysis (Market Size -$Million/Billion)
7.1 Value Chain Analysis
7.2 Opportunities Analysis
7.3 Product Life Cycle/Market Life Cycle Analysis
8. Microfluidic Sensor Market – By End Use Industry (Market Size -$Million/Billion)
8.1 Healthcare Facilities
8.2 Research Institutes
8.3 Pharmaceutical and Biotechnology
8.4 Others
9. Microfluidic Sensor Market – By Application (Market Size -$Million/Billion)
9.1 In Vitro Diagnostics
9.2 Pharmaceutical Research
9.3 Others
10. Microfluidic Sensor Market - By Geography (Market Size -$Million/Billion)
10.1 North America
10.1.1 U.S
10.1.2 Canada
10.1.3 Mexico
10.2 Europe
10.2.1 Germany
10.2.2 France
10.2.3 UK
10.2.4 Italy
10.2.5 Spain
10.2.6 Russia
10.2.7 Netherlands
10.2.8 Others
10.3 APAC
10.3.1 China
10.3.2 Japan
10.3.3 South Korea
10.3.4 India
10.3.5 Australia
10.3.6 Indonesia
10.3.7 Malaysia
10.3.8 Others
10.4 South America
10.4.1 Brazil
10.4.2 Argentina
10.4.3 Chile
10.4.4 Colombia
10.4.5 Others
10.5 RoW
10.5.1 Middle East
10.5.2 Africa
11. Microfluidic Sensor Market - Market Entropy
11.1 New product launches
11.2 M&A's, collaborations, JVs and partnerships
12. Microfluidic Sensor Market – Industry Competitive Landscape (Premium)
12.1 Market Share – Global
12.2 Market Share by Region
12.3 Market Share By End Use Industry
13. Microfluidic Sensor Market – Key Company List by Country Premium (Premium)
14. Microfluidic Sensor Market - Company Analysis
14.1 Company 1
14.2 Company 2
14.3 Company 3
14.4 Company 4
14.5 Company 5
14.6 Company 6
14.7 Company 7
14.8 Company 8
14.9 Company 9
14.10 Company 10