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North America Microfluidics Market Forecast to 2027 – COVID-19 Impact and Country Analysis – by Product, Material, Application ; and Country

North America Microfluidics Market Forecast to 2027 – COVID-19 Impact and Country Analysis – by Product, Material, Application ; and Country

  • August 2020
  • 126 pages
  • ID: 5953808
  • Format: PDF
  • The Insight Partners
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The North America microfluidics market was valued at US$ 4,901.47 million in 2019 and is projected to reach US$ 18,301.24 million by 2027; it is expected to grow at a CAGR of 18.2% during 2020–2027.
The growth of the microfluidics market is mainly attributed to the factors such as the increasing adoption of microfluidics technologies in point-of-care testing, and technological advancement in microfluidics. However, the challenges involved in product commercialization are the major factors hindering the market growth.
Microfluidics involves processing or manipulation of small amount of fluidics.It studies various systems that can process small quantities of fluids by using tiny channels having dimensions in micrometers.

Microfluidics is an emerging technology having a wide range of applications in biology, chemistry, optics and information technology.This technology is widely used for various processes such as capillary electrophoresis, sample injection in mass spectrometry, immunoassays, flow cytometry, DNA analysis, separation and manipulation of cells, and PCR amplification.

Additionally, microfluidics is also used in the diagnosis of cancer and for other research work.
The increasing technological advancements in diagnostic devices and the rising incidence of chronic diseases are augmenting the adoption of microfluidics in disease diagnosis.The market is witnessing numerous product launches along with technological advancements in microfluidics, such as 3D lab-on-a-chip devices.

Moreover, key market players have been introducing new products to strengthen their market position.For instance, in January 2020, Nicoya launched the Alto surface plasmon resonance (SPR) system.

It is the first fully-automated, high-throughput system that integrates digital microfluidics (DMF), artificial intelligence (AI), and nanotechnology, which offers high quality, label-free interaction analysis.This product is designed to reduce the time and cost of drug discovery.

These technological advancements are expected to propel the growth of the market during the forecast period.
COVID-19 has affected the North American countries which has led to a high number of COVID-19 cases in the region.Microfluidics has gained a lot of attention with respect to the diagnosis of COVID-19.

For instance, US-based researchers from Broad Institute have developed a CRISPR-based molecular diagnostics stage with the help of microfluidics chips to detect viruses in human samples. This single chip has the potential to detect a single virus in more than 1,000 samples at a time.
Based on product, the microfluidics market is segmented into microfluidic chips, microfluidic sensors, devices, micro pumps, micro needles and other products.The devices segment held the largest share of the market in 2019.

However, the market for microfluidic chips is estimated grow at the highest CAGR in the market during the forecast period.

Based on material, the market is segmented into PDMS, polymers, glass, silicon, and other materials.Based on application, the market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications.

Further, the in vitro diagnostic segment is sub segmented into point-of-care testing (POC) and clinical diagnostic.
The World Health Organization (WHO), World Heart Federation, National Center for Biotechnology Information, along with company websites, are among the major primary and secondary sources referred for preparing this report.

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