Meticulous Research®, a prominent global market research firm, has released a report entitled Microfluidic Immunoassay Market Size, Share, Forecast, & Trends Analysis by Product (Cartridge [Polymer, Glass], Reagent, System) Technology (Electrochemical, Optical) Application (Cardiology, Oncology, Infectious Disease) End User—Global Forecast to 2031.’
According to the latest report from Meticulous Research®, the global microfluidic immunoassay market is expected to reach $1.59 billion by 2031, growing at a CAGR of 7.3% from 2024 to 2031. The market's growth is fueled by the rising use of microfluidic immunoassays in drug discovery and development, as well as biomarker detection. Additional drivers include the benefits of lab-on-chip immunoassays over traditional methods, the increasing focus on R&D by pharmaceutical and biotechnology companies, and the trend toward miniaturizing biological and chemical assays. However, challenges such as bubble formation and dead volume in microfluidic devices are hindering market growth.
Furthermore, the growing demand for point-of-care diagnostics and recent advancements in microfluidic immunoassay technology are anticipated to create new market growth opportunities. However, significant challenges for market stakeholders include choosing appropriate substrate materials for designing microfluidic chips, as well as product design and cost-related limitations in developing countries.
Key Players
The major companies active in the global microfluidic immunoassay market include Becton, Dickinson and Company (U.S.), Revvity, Inc. (U.S.), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), Nanomix Corporation (U.S.), Micropoint Biotechnologies Co., Ltd. (China), Biosurfit SA (Portugal), Koninklijke Philips N.V. (Netherland), NanoEnTek Inc. (South Korea), and QuidelOrtho Corporation (U.S.)
Microfluidic Immunoassay Market: Future Outlook
The global microfluidic immunoassay market is categorized by Product (Consumables [Cartridges {Polymer, Glass, and Silicon} and Reagents] and Systems), Technology (Electrochemical Detection and Optical Detection), Application (Cardiology [Single Biomarker Detection and Multiplexed Biomarker Detection], Infectious Diseases, Oncology, and Other Applications), End User (Pharmaceutical & Biotechnology Companies, Diagnostic Laboratories, Hospitals, and Other End Users), and Geography. The report also assesses industry competitors and examines their market share on
Among all products studied in this report, the consumables segment is projected to grow at the highest CAGR during the forecast period. This growth is driven by continuous advancements in reagent and kit development, the adoption of microfluidic immunoassay diagnostic kits for disease diagnosis, and their ease of use, which are all boosting the demand for consumables in the microfluidic immunoassay market.
Among all technologies studied in this report, in 2024, the electrochemical detection segment is anticipated to dominate the microfluidic immunoassay market. This significant market share can be attributed to factors like the growing use of electrochemical detection in point-of-care testing, its suitability for miniaturization, swift detection capabilities, and cost-effectiveness.
Among all applications studied in this report, the oncology segment is projected to experience the most rapid growth rate during the forecast period. This accelerated growth is primarily driven by pharmaceutical and biotechnology research institutions employing microfluidic immunoassay techniques for detecting oncology biomarkers in various research applications, including anti-cancer drug investigations, drug development endeavors, and personalized medicine initiatives.
Among all end users studied in this report, in 2024, the pharmaceutical and biotechnology sector is projected to hold the largest portion of the microfluidic immunoassay market. This dominance is fueled by growing demands for novel drugs and treatments, prompting heightened research and development endeavors, augmented funding and investments within the pharmaceutical and biotech realms, and escalating healthcare spending. Additionally, continuous efforts within these industries to innovate and develop new medications and therapies to meet healthcare demands contribute further to market expansion.
The research report examines key geographical regions and offers a thorough analysis of North America (including the U.S. and Canada), Europe (comprising Germany, France, the U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (encompassing China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa.
Among the regions analyzed in this report, Asia-Pacific is projected to exhibit the most rapid growth rate during the forecast period. This accelerated growth is primarily ascribed to improvements in healthcare infrastructure, advancements in the R&D sector, the proliferation of diagnostic laboratories across the region, and progress in the research domain within emerging economies of Asia-Pacific.
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Key questions answered in the report:
- What are the segments experiencing significant growth in terms of product, technology, application, end user, and regions/nations?
- What was the past market size of microfluidic immunoassay worldwide?
- What are the projected market forecasts and estimations for the timeframe between 2024 and 2031?
- What are the primary factors propelling, hindering, posing challenges, offering opportunities, and shaping trends in the worldwide microfluidic immunoassay market?
- Who are the key players in the global microfluidic immunoassay market?
- What does the competitive landscape look like, and who are the leading companies in the global microfluidic immunoassay market?
- What are the recent advancements in the microfluidic immunoassay market?
- What strategies have the major players in the microfluidic immunoassay market adopted?
- What are the geographical trends and which regions or countries are experiencing high growth?
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