# Microfluidic Devices Market Is Anticipated To Expand At A Healthy CAGR Of 24% During The Forecast Period 2021 to 2031 Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-11-29 Category: Research Reports Category URL: https://financedigest.com/category/research-reports Meta Title: Unlocking Growth Potential: Microfluidic Devices Market Meta Description: Discover the booming global microfluidic devices market, with a projected CAGR of 24% and expected global demand to reach US$ 21.5 Bn by 2031. Learn more with a URL: https://financedigest.com/microfluidic-devices-market-is-anticipated-to-expand-at-a-healthy-cagr-of-24-during-the-forecast-period-2021-to-2031html ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/research-report-2-1736836817392-compressed.jpg) The [**global microfluidic devices market**](https://www.persistencemarketresearch.com/market-research/microfluidic-devices-market.asp) was valued at **US$ 5.1 Bn** in 2020, and is estimated to surge at a **CAGR of 24%** during the forecast period of 2021-2031. The market in the European region is expected to expand at a reasonable **CAGR of around 14%**, with global demand expected to reach **US$ 21.5 Bn** by the end of 2031. Globally, the microfluidic devices market is witnessing significant growth due to increasing R&D investment in pharmaceuticals, life science and rising point of care testing demand. New trends in healthcare, such as health care at home, supports [point of care testing](https://www.financedigest.com/multi-functional-point-of-care-testing-market-growth-analysis-opportunities-trends-developments-and-forecast-to-2028.html "Multi-Functional Point Of Care Testing Market Growth Analysis, Opportunities, Trends, Developments, And Forecast to 2028") (POCT) as the most efficient and effective delivery of healthcare. **Get Going With Sample Of Microfluidic Devices Market Report!** [**https://www.persistencemarketresearch.com/samples/2995**](https://www.persistencemarketresearch.com/samples/2995) **Some of the major [players in the microfluidic device](https://www.financedigest.com/image-guided-surgery-devices-market-recent-industry-developments-and-growth-strategies-adopted-by-players.html "Image Guided Surgery Devices Market: Recent Industry Developments and Growth Strategies Adopted by Players") market:** - [Roche Diagnostics](https://www.financedigest.com/roche-names-sause-head-of-diagnostics-arm.html "Roche names Sause head of diagnostics arm"). - Abbott Laboratories. - Siemens Healthcare. - [Agilent Technologies](https://www.financedigest.com/kings-secure-technologies-adopts-agile-flexible-cloud-reporting-access-granular-real-time-financial-information.html "Kings Secure Technologies Adopts Agile and Flexible Cloud Reporting for Access to ‘Granular Real-time Financial Information’"). - Bio-Rad Laboratories, Inc. - Fluidigm Corporation. - Johnson & Johnson. Miniaturization also [reduces the cost](https://www.financedigest.com/finnair-to-cut-costs-reduce-fleet-to-return-profitable.html "Finnair to cut costs, reduce fleet to return profitable") for screening compounds in pharmaceutical companies for cell biology problems. In addition, microfluidic proteomic [devices are increasingly being used to quantify and identify proteins and to study](https://www.financedigest.com/smart-home-devices-market-is-expected-to-grow-at-a-healthy-cagr-of-over-18-during-the-study-forecast-period-2021-2031.html "Smart Home Devices Market is expected to grow at a healthy CAGR of over 18% during the study forecast period 2021-2031") interactions of different proteins with reagent in array. Different materials such as glass, silicon, polymer metal and ceramics, are used to manufacture microfluidic devices. **Get a Customized Scope to Match Your Need Ask an Expert-** [**sales@persistencemarketresearch.com**](mailto:sales@persistencemarketresearch.com) In North America, rising aging population, increasing health awareness, rising chronic and lifestyle diseases, technological developments for various home use applications, and proper [insurance coverage](https://www.financedigest.com/types-of-insurance-coverage.html "Types of insurance coverage") are driving the use of microfluidic devices in the market. Usage of microfluidic [technology in North America is high compared to other regions of the world](https://www.financedigest.com/is-wearable-technology-ushering-in-a-brave-new-healthy-world.html "Is wearable technology ushering in a brave new healthy world?") due to its early adoption and multiple applications in different industries. In Europe, the microfluidic devices [market is driven](https://www.financedigest.com/the-socks-market-to-be-driven-by-the-non-stoical-approach.html "The Socks Market To Be Driven By The Non-Stoical Approach") by rising diagnostic requirements due to increasing lifestyle associated diseases, aging population and improving healthcare infrastructure. On the other hand, increasing healthcare [costs has shifted the focus](https://www.financedigest.com/gms-cruise-to-focus-on-cost-cuts-as-it-ramps-up-robotaxis.html "GM’s Cruise to focus on cost cuts as it ramps up robotaxis") of healthcare from hospitals to home, which would increase the use of microfluidic devices in the region. However, Asia is [becoming one of the most attractive](https://www.financedigest.com/uk-becoming-less-attractive-for-investment-manufacturers-warn.html "UK becoming less attractive for investment, manufacturers warn") markets for medical device companies. The [growth for microfluidic devices](https://www.financedigest.com/innovative-apps-to-foster-the-growth-of-ecg-device-market.html "Innovative apps to foster the growth of ECG Device Market") is much faster than developed countries due to widening health insurance penetration and up-gradation of health care systems. Asia is one of the producers of generic drugs, which require microfluidic devices for [toxicity testing](https://www.financedigest.com/on-demand-healthcare-to-bolster-the-in-vitro-toxicity-testing-market.html "On-demand healthcare to bolster the In Vitro Toxicity Testing Market") of drugs. Roche Diagnostics, Abbott Laboratories, Siemens Healthcare, Agilent Technologies, Bio-Rad Laboratories, Inc, Fluidigm Corporation and Johnson & Johnson are some of the major players of microfluidic [devices market](https://www.financedigest.com/thermal-ablation-devices-market.html "Thermal Ablation Devices Market"). **Keeping A Tab On Key Players In The Microfluidic Devices Market? Go To “Purchase Now” To Decipher The Competitive Analysis In Our Microfluidic Devices Market Report!** [**https://www.persistencemarketresearch.com/checkout/2995**](https://www.persistencemarketresearch.com/checkout/2995) **Read More Trending “PMR Exclusive Article”-** **Umbilical Cord Blood Banking Market**– [Umbilical Cord Blood Banking Market](https://www.persistencemarketresearch.com/market-research/umbilical-cord-blood-banking-market.asp) Segmented By Leukemia, Bone Marrow Failure Syndrome, Metabolic/Storage Diseases, Lymphoma, Immune Deficiencies Application with Private UCB Banks and Public UCB Banks Storage Option **About Us: –** [**Persistence Market Research**](https://www.persistencemarketresearch.com/about-us.asp) **Contact us:** **Persistence** [Market Research](https://www.financedigest.com/sucroglycerides-market-research-report-2022-global-forecast-till-2027.html "Sucroglycerides Market Research Report 2022 – Global Forecast till 2027") Address – 305 Broadway, 7th FloorNew [York City](https://www.financedigest.com/dr-letao-qin-joins-rimon-as-partner-in-its-research-triangle-park-and-new-york-city-offices.html "Dr.Letao Qin, joins Rimon as Partner in its Research Triangle Park and New York City Offices"), NY 10007 United States U.S. Ph. – +1-646-568-7751 USA-Canada Toll-free – +1 800-961-0353 **Sales** – sales@persistencemarketresearch.com **Website** – https://www.persistencemarketresearch.com --- This blog is powered by Superblog. 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