USD 25597.94 million
Microfluidic Immunoassay Market Size, Share, Growth Analysis, By Technology(Cardiac Biomarker Detection, Inflammatory Biomarker Detection, Other Biomarkers and Emerging Biomarkers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2075 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
36
|Figures:
74
Microfluidic Immunoassay Market Insights
Microfluidic Immunoassay Market size was valued at USD 25597.94 million in 2019 and is poised to grow from USD 28718.33 million in 2023 to USD 71897.42 million by 2031, growing at a CAGR of 12.19% in the forecast period (2024-2031).
The microfluidic immunoassay market is expanding quickly and has the potential to improve patient care in situations with limited resources. POC tests are carried out in hospitals, ambulatory care facilities, doctor's offices, or even at the patients' homes. The demographic shift and demand for cost-effective, high throughput diagnosis are driving the POC industry's rapid growth. However, a lot of the current POC devices require sample pre-treatment before testing, yield inconsistent results, and provide subpar quantitative, qualitative, or qualitative and semi-quantitative test results. This prompted the downsizing of POC devices and a growing emphasis on delivering precise and quantitative results. A lot of interest has been paid to microfluidic systems (lab-on-a-chip) as a platform for miniature immunodiagnostics. Small amounts of reagents and samples are consumed, and exact findings are delivered quickly, as two major benefits of LOC.
The Microfluidic Immunoassay market is growing due to the larger benefits offered by LOC over conventional measurable methods, the growing need for POC in low-resource settings, increased research efforts in the field of microfluidic technology, a high intake of venture capital financing for the development of LOC-based POC diagnostics, rapid decision making employing POC diagnostics technologies in emergency care, and the rising incidence and prevalence of chronic diseases integrated with aging population across the globe.
US Microfluidic Immunoassay Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Non-LOC POC technology
Fastest Growth
Non-LOC POC technology
Growth Rate
12.19% CAGR
Global Microfluidic Immunoassay Market($ Bn)
Country Share for North America Region (%)
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Microfluidic Immunoassay Market Segmental Analysis
Global Microfluidic Immunoassay Market is segmented based on the technology, application and region. Based on technology, the market is segmented into LOC POC technology and quantitative non-LOC POC technologies. Based on application, the market is segmented into Cardiac Biomarker Detection, Inflammatory Biomarker Detection, Other Biomarkers and Emerging Biomarkers. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Microfluidic Immunoassay Market Analysis by Technology
Based on technology, the non-LOC POC technologies category has controlled the most portion of the microfluidic immunoassay market in 2021. The significant market share of this sector is related to the increased acceptance of these technologies for a variety of diagnostic applications over time. Furthermore, electrochemical detection and optical detection are subcategories of the POC lab-on-chip (LOC) technologies market. The market for LOC POC technology was dominated by the electrochemical detection segment. This is because Abbotts's i-STAT microfluidic platform, which is based on electrochemical sensing technology and currently dominates the market.
Microfluidic Immunoassay Market Analysis by Application
Based on application, the microfluidic immunoassay market for cardiac biomarker detection has accounted for the highest proportion in 2021. Due to the increasing prevalence of cardiovascular disorders, the abundance of LOC-based solutions for cardiac biomarkers, and the relatively higher acceptance of these devices among end users, the cardiac biomarker detection category has a sizable market share.
Global Microfluidic Immunoassay Market By Technology
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Microfluidic Immunoassay Market Regional Insights
The market for microfluidic immunoassays was dominated by North America, which was followed by Europe, Asia-Pacific, Latin America, the Middle East, and Africa. However, the Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period. This is largely because of the region's economies' accelerated growth, improved healthcare infrastructure, increased accessibility to healthcare services, and innovative products. It is also because of the aging population's increased risk of infectious and noncommunicable diseases, rising disposable income, and ongoing investment and focus by major players in emerging Asian markets.
Global Microfluidic Immunoassay Market By Region
- Largest
- Fastest
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Microfluidic Immunoassay Market Dynamics
Microfluidic Immunoassay Market Drivers
Novel Technologies in the Market are Creating Fruitful Growth Opportunities
- For the companies in the microfluidic immunoassay market, emerging economies and novel technologies like paper-based microfluidics are projected to present several prospects for expansion. High growth in emerging economies is attributed to a number of factors, including an ageing population, a sizable patient population suffering from infectious and non-communicable diseases, an increase in R&D funding, a rise in the demand for high-quality healthcare, rising disposable income, and improved healthcare infrastructure.
Microfluidic Immunoassay Market Restraints
Lack of Access in Developing Nations to Hinder Market Growth
- The main commercial hurdles are choosing a suitable substrate material for constructing microfluidic chips, receiving reimbursement, scaling the process up for mass production, and creating low-cost goods for underdeveloped nations.
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Microfluidic Immunoassay Market Competitive Landscape
Global microfluidic immunoassay market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Microfluidic Immunoassay Market Top Player's Company Profiles
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Becton, Dickinson and Company
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Cepheid Inc.
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Danaher Corporation
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Fluidigm Corporation
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Illumina Inc.
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Luminex Corporation
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Merck Millipore
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NanoString Technologies Inc.
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PerkinElmer Inc.
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QIAGEN N.V.
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Randox Laboratories Ltd.
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Roche Diagnostics
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Siemens Healthineers AG
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Thermo Fisher Scientific Inc.
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Tosoh Corporation
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Wako Pure Chemical Industries, Ltd.
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Waters Corporation
Microfluidic Immunoassay Market Recent Developments
- In October 2022, The establishment of the Dissolution Centre of Excellence (CoE) in Craven Arms, United Kingdom, was announced by Agilent Technologies Inc. (UK). The core of Agilent's dissolution business, including research and development, quality, support, applications, marketing, and more, will be housed in the recently remodeled facilities.
- In October 2022, GE Healthcare proudly introduced Omni Legendi, the first system on its all-new, all-digital PET/CT platform.
Microfluidic Immunoassay Key Market Trends
- Recently, there has been a lot of interest in microfluidic technology. This is primarily because combining the entire laboratory technique onto a single chip has reduced the need for bulky tools. The development of LOC technology took over two decades, and materials were employed in the creation of the devices. For the production of microfluidics-based POC cartridges for developing nations, paper is getting a lot of interest. This is due to a number of benefits of paper material, including the fact that it is an incredibly affordable substrate material, is suitable for many medical applications, and transfers fluid by capillary forces without the need for external forces. There is currently a lot of commercial and academic research being done in the area of paper-based microfluidics.
Microfluidic Immunoassay Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our microfluidic immunoassay market analysis, in terms of technology, the non-LOC POC technologies segment held a larger market share. Owing to high preference for diagnostic applications. And in terms of application, the cardiac biomarker detection segment contributes to the market growth due to increasing prevalence of cardiovascular disorders. The main market drivers for microfluidic immunoassay include rapid test results with high precision and cutting-edge microfluidic immunoassay technology. These aspects are anticipated to fuel global expansion over the forecast period. However, issues with test repeatability are one factor that is anticipated to impede market expansion throughout the course of the projection period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 25597.94 million |
| Market size value in 2031 | USD 71897.42 million |
| Growth Rate | 12.19% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Microfluidic Immunoassay Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Microfluidic Immunoassay Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Microfluidic Immunoassay Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Microfluidic Immunoassay Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Microfluidic Immunoassay Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Microfluidic Immunoassay Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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