Asia Pacific Microfluidics Market Forecast to 2027 – COVID-19 Impact and Country Analysis – by Product (Microfluidic Chips, Microfluidic Sensors, Devices , Micropumps, Microneedles and Other Products), Material (PDMS, Polymers, Glass, Silicon, and Other Materials), Application (In Vitro Diagnostics, Pharmaceutical and Life Science Research, Drug Discovery, and Other Applications); and Country
The Asia Pacific microfluidics market was valued at US$ 2,294.22 million in 2019 and is projected to reach US$ 8,788.24 million by 2027; it is expected to grow at a CAGR of 18.6% during 2020–2027.
The growth of the microfluidics market is mainly attributed to the factors such as application of microfluidics technologies in point-of-care testing, and technological development in microfluidics products are expected to propel the growth of the market. However, lower adoption in emerging economies is the major factor 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, PCR amplification, among others. Additionally, microfluidics is also used in the diagnosis of diseases such as cancer and research.
The market is witnessing numerous products launch along with technological advancements in microfluidics, such as 3D lab-on-a-chip devices. This leap in technology is expected to expand during the forecast period further. Also, key market players have been introducing new products to strengthen their market position. In March 2019, Dolomite Microfluidics launched µEncapsulator Systems. This unique microencapsulation system can encapsulate nearly 300,000 cells into monodisperse droplets in a span of 15 minutes.
COVID19 has affected the Asia Pacific countries which has led to high number of mortality due to coronavirus. Coronavirus diagnostic with microfluidics is one option that’s gained a lot of attention. For instance, In June 2020, researchers from the Hong Kong University of Science and Technology (HKUST) has discovered the world’s fastest portable COVID-2019 detection device. With the latest microfluidic chip technology, the device has the potential to detect the virus in just 40 minutes from sampling to testing.
Based on product, the microfluidics market is segmented microfluidic chips, microfluidic sensors, devices, micropumps, microneedles 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. On the basis of application the market is segmented into in vitro diagnostics, pharmaceutical and life science research, drug discovery, and other applications. Further in vitro diagnostic 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 a few of the major primary and secondary sources referred for preparing this report..
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