Microfluidics Market Size, Share, Growth Analysis, By Product(Microfluidics-based Device, Microfluidic Components [Microfluidic Chip, Flow and Pressure Sensors, Flow and Pressure Controllers), By Material(Glass, Silicon, Polymer, Others), By Application(In Vitro Diagnostics [Clinical Diagnostics, Point of Care Testing, Veterinary Diagnostics], Pharmaceutical & Life Science Research and Manufacturing [Lab Analytics (Proteomic analysis), By End-user(Hospital and Diagnostic Centers, Academic and Research Institute, Pharmaceutical & Biotechnology Companies), By Region - Industry Forecast 2024-2031

Global Microfluidics Market size was valued at USD 21.70 billion in 2022 and is poised to grow from USD 24.48 billion in 2023 to USD 64.16 billion by 2031, growing at a CAGR of 12.8% during the forecast period (2024-2031).

The global microfluidics market is made up of various players combining old players and new player startups that focus on new technologies. The major international companies include Thermo Fisher Scientific, Agilent Technologies, Roche that have state-of-the-art microfluidics technologies. Other companies include Bio-Rad Laboratories, and Fluidigm among other players. New players enter the market with better performing products which increases competition and improves the products in the market and widens the applications in health diagnostics, drug dispensing and research in life sciences. 'Thermo Fisher Scientific (US) ', 'Becton, Dickinson, and Company (US) ', 'Agilent Technologies (US) ', 'Bio-Rad Laboratories (US) ', 'F. Hoffmann-La Roche (Switzerland) ', 'Danaher Corporation (US) ', 'Illumina Inc. (US) ', 'Fluidigm Corporation (US) ', 'Abbott Laboratories (US) ', 'BioMérieux (France) ', 'Hologic (US) ', 'Quidel Corporation (US) ', 'SMC Corporation (Japan) ', 'Parker-Hannifin Corporation (US) ', 'IDEX Corporation (US) ', 'Fortive Corporation (US) ', 'Aignep S.p.A (Italy) ', 'Dolomite Microfluidics (UK) ', 'Elveflow (France) ', 'uFluidix (Canada) ', 'NanoString Technologies (US) ', 'Nortis Inc. (US) ', 'Innovative Biochips, LLC (US) ', 'Fluidic Analytics (UK)'

The global microfluidics market is highly driven by advancements in microfluidic technologies like lab-on-a-chip devices and organ-on-chip systems. These developments allow faster and accurate diagnostics and efficient drug distribution which is essential in personalized medicine, point-of-care testing, and pharmaceutical research, thus enhancing the growth of the market. 

Growing Demand for Point-of-Care Testing Solutions: The global microfluidics market is experiencing a remarkable shift in focus towards the POC testing (point of care testing) solutions - the rapid and accurate diagnostics. This transformation allows improving patient access to timely care, especially in rural regions, and facilitates the growing use of microfluidic devices in emergency and domiciliary care. 

The global microfluidics market has its highest share in North America which can be explained by the developed health care system and the high investments in research and development with a larger number of the world’s pharmaceutical and biotechnology companies located therein. The demand for microfluidic devices in the region is heightened by the innovations in diagnostic technologies, personalized healthcare and lab-on-chip technologies. Favorable regulatory frameworks and strong government support for advanced medical research, particularly in the U.S., also contribute to the market's growth. Fueled by high incidences of chronic illnesses as well as the requirements for inexpensive and efficient diagnostic solutions tends to push North America to the front line where microfluidic techniques are being used across various healthcare and life sciences disciplines.