Microfluidics Market

Danaher Corporation (Japan) and Illumina (US) are leading Players in the Microfluidics Market

The global microfluidics market is projected to reach USD 41.1 billion by 2028 from USD 22.3 billion in 2023, growing at a CAGR of 13.0% during the forecast period. Cost-effectiveness in drug development, accuracy in test results, minimized reagent consumption, precise analysis, and reduced time of assay are the factors influencing the microfluidics market growth. Increased point-of-care diagnostic equipment, such as glucose patches, Bluetooth-based glucose monitoring devices, and pregnancy testing kits, are creating growth opportunities for the market. Additionally, the rise in genomic research using microfluidics technology and cell line studies are factors responsible for the growth of the market.

The prominent players in the microfluidics market include Thermofisher Scientific (US), Perkin Elmer (US), Beckton Dickinson, and Company (US), Agilent Technologies, Inc. (US), Bio-Rad (US), F. Hoffmann La-Roche, Ltd. (Switzerland), Danaher Corporation (Japan), Illumina, Inc. (US), Fluidigm Corporation (Switzerland), Abbott Laboratories (US), Biomérieux SA (France), Hologic (US), Quidel Corporation (US), SMC Corporation (Japan), Parker Hannifin Corporation (US), Idex  Corporation (US), Fortive Corporation (US), Aignep SPA (Italy), Dolomite Microfluidics (US), Elveflow (France), Ufluidix (China), Nanostring (US), Nortis Inc. (US), Innovative Biochips, LLC, (US), and Fluidic Analytics (UK).

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Danaher Corporation (Japan)

Danaher held the first position in the microfluidics market, owing to its diverse product offerings and growing subsidiaries. Nearly 30+ years of developing microfluidics-based devices, such as bioanalyzers, genomic study equipment, analytic chromatographic systems, immunoassay testing equipment, lab reagents for bioassay, etc., led Danaher to its leading position. The accuracy and precision of each piece of equipment, along with its high quality, make it the best choice for end users. Danaher designs, develops, manufactures, and markets medical, industrial, and commercial products and services. The company invests approximately 5% to 6% of its total revenue in R&D. Thus, it focuses on providing new and improved products and types of equipment. Lifesciences, Diagnostics, Biotechnology, and Environmental & Applied Solutions are the four business areas of the company. Lifescience and Diagnostic segment offers microfluidic-based products and devices. The company operates through Leica Microsystems, SCIEX, Molecular Devices, Pall Corporation, Phenomenex, and Integrated DNA Technologies within its Lifeescience and Diagnostic segments.

Illumina (US)

Illumina held the second position in the microfluidics market, owing to its genomic sequencing products such as HiSeq (a high throughput microfluidic-based sequencer for DNA sequencing of large number of genomes), MiSeq (a benchtop sequencer for research and clinical laboratories to sequence DNA), and NovaSeq (the largest generation of sequencers by Illumina). The company offers products through its Core Illumina segment and services through the Grail segment. It invests heavily in R&D, i.e., nearly 20% of its revenue is invested in research to develop new and improved genomic and cell line development-based microfluidic products. The company’s microfluidics-based products are also positioned in the diagnostic space, as its VeraCode platform is widely used as a microfluidic device to detect cancer cells in blood samples.
Thermo Fisher Scientific (US)

ThermoFisher held the third share in the market due to the leading microfluidic services and products it offers. Clinical chemistry, therapeutic drug monitoring, and molecular diagnostics are some of the robust portfolios of its microfluidic devices offering.  Large distribution channels and geographic presence across the globe have made it a leader in this market. Strategies like mergers, acquisitions, collaboration, and partnership have led the way for Thermofisher. The company launched the TagCheck, its Covid-19 PCR test kit, to influence its product line related to Covid 19.  This PCR test kit helped the company to obtain worldwide recognition and strengthen its market position. The company’s equipment portfolio, related to gene sequencing, spectrometry, PCR, and clinical diagnostic testing analyzers, has grown enormous to bring newer technologies using microfluidics techniques. The company invested ~1 billion in 2022 in R&D to enable new product launches.

Related Reports:

Microfluidics Market by Product (Device, Component (Chip, Sensor, Microneedle, Pump, Valve), Application (IVD (POC, Clinical, Vet), Research (Proteomic, Genomic, Cell-based, Capillary), Manufacturing), End User (Pharma, Hospital) - Global Forecast to 2028

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Microfluidics Market Size,  Share & Growth Report
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