Abbott Laboratories (US), Danaher Corporation (US), Thermo Fisher Scientific, Inc. (US), Agilent Technologies, Inc. (US), and Becton, Dickinson and Company (US) are the leading players in the Microfluidics Market.
The global microfluidics market is projected to reach USD 58.8 billion by 2026 from USD 20.7 billion in 2021, growing at a CAGR of 23.2% during the forecast period. Microfluidic technologies offer quick analysis, reduced reagent consumption, and accurate test results and help in reducing the overall cost of the drug development process. In addition to these factors, the demand for microfluidics technology is increasing owing to the growing demand and adoption of PoC diagnostic devices, such as glucose monitoring and pregnancy test kits.
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Roche was the leading player in the microfluidics-based devices market, accounting for a share of around 19-21% in 2020. The company’s leading position in the microfluidic-based devices market is attributed to its wide product portfolio, which includes clinical chemistry, immunochemistry, molecular diagnostics, tissue diagnostic instruments, reagents, and kits. Under its flagship brand—cobas—the company offers a variety of IVD instruments based on microfluidic technology, reagents, and kits that are widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe. Roche Diagnostics mainly focuses on product launches and strategic partnerships & collaborations to maintain its leading position in the market.
Globally, Danaher Corporation holds the second position in the microfluidics-based devices market. The company has more than 30 years of experience in developing laboratory microfluidics components in the microfluidics market. The company delivers reliable and high-quality microfluidics products designed for accurate and precise instrument efficiency. Danaher designs, manufactures, and markets medical, industrial, and commercial products & services. The company operates through three reportable business segments: Life Sciences, Diagnostics, and Environmental & Applied Solutions. The company offers diagnostic and medical devices integrated with microfluidic technology through its Life Sciences and Diagnostics divisions. Danaher operates in the microfluidics market through its subsidiaries, Cepheid (US) with the brand GeneXpert; Beckman Coulter, Inc. (US) with the brand BioRAPTR; AB Sciex LLC (US) with the brand NanoLC; and Molecular Devices, LLC (US).
Thermo Fisher Scientific is the third-largest player in the global microfluidics-based devices market. The company is a leading provider of microfluidics products & services. The company offers a robust portfolio of microfluidics devices and components for clinical chemistry, molecular, and therapeutic drug monitoring (TDM). With its strong geographic presence and wide distribution networks, the company has established itself as a leader in the global microfluidics market. To sustain its leading position and further increase its share in the market, the company focuses on organic and inorganic growth strategies. Thermo Fisher reacted to the COVID-19 pandemic by rapidly developing a combat kit known as the Applied Biosystems TagPath COVID-19 Combo Kit. This kit was granted emergency use authorization in the US in March 2020, followed by similar authorizations worldwide. The company launched the Thermo Fisher Scientific COVID-19 product line, which greatly increased its inventory of COVID-19-related items. The company expanded its portfolio of COVID-19-related products, launching the Thermo Fisher Scientific Amplitude Solution for high-throughput PCR-based testing and the Applied Biosystems TaqCheck PCR test for asymptomatic health surveillance. These products have helped the firm gain worldwide recognition, thereby assisting the firm in expanding its reach. Additionally, USD 1.20 billion was invested in R&D to deliver new microfluidic technologies by creating reliable and innovative products.
Abbott Laboratories holds the fourth position in the microfluidics-based devices market. The company provides innovative microfluidics products and components. The company offers microfluidics through Diagnostics segments. Abbott Laboratories develops, manufactures, and markets diversified healthcare products. The company operates through four business segments: Pharmaceutical Products, Diagnostics, Nutritionals, and Medical Devices. Abbott Laboratories offers a wide range of products in various target therapeutic areas, including rheumatoid arthritis, HIV/AIDS, respiratory infections, cancer, diabetes, mens and womens health, and genetic conditions. Under its leading brands, such as i-STAT, the company offers various microfluidics components to customers globally. The company is expected to maintain its leading market position in the coming years owing to its strong product portfolio, geographic presence, and brand name in the global market. Its market leadership can also be attributed to its strong distribution and subsidiary network worldwide, enabling it to serve customers in North America, Europe, and the Asia Pacific. Abbott Laboratories operates through 291 international and 100 national subsidiaries.
Microfluidics Market by Product (Devices, Components (Chip, Sensor, Pump, Valve)), Application (IVD (POC, Clinical, Veterinary), Research, Manufacturing, Therapeutics), End User (Hospital, Diagnostic Center, Academic Institutes) - Global Forecast to 2026
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