Microfluidics is now a mature technology, and today the identified number of companies developing microfluidic-based solutions worldwide far surpasses a thousand, including myriad opportunistic startups, and the applications are end-less.
Under this dynamic context, the market research and strategy consulting company, Yole Développement (Yole) estimates, the microfluidic products market reached US$8.7 billion in 2018, and will grow at a 11.7% CAGR between 2019 and 2024, reaching US$17.4 billion.
“The two principal applications are still PoC testing and pharmaceutical/ life science research, including sequencing, genomics, and proteomics”, details Sébastien Clerc, Technology & Market Analyst at Yole. “However, dynamics per application are evolving…”
Yole announces today its new microfluidics report, Status of the Microfluidics Industry….
Emerging applications, in particular within the biotechnology field, can benefit from the improvement of microfluidic technologies and innovations.
“Today, academics and researchers are the main users of such technologies in biotech, but we have begun seeing an increased adoption from pharmaceutical companies, CRO, and industrial biotech companies”, explains Asma Siari, PhD. Technology & Market Analyst at Yole. “For example, cell line development, single-cell isolation/analysis, as well as cell-gene therapies and gene editing, are all applications where microfluidics have a role to play.”
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