Report Overview

Global Microfluidic Components Market- Industry Trends & Forecast Report 2027

The global microfluidic components market was worth USD 3.56 Billion in 2020, and it is further projected to reach USD 7.61 Billion by 2027, at a CAGR of 11.6% during 2021-2027 (forecast period). The growth of the market is driven by the increased demand for miniature portable devices, consumer electronics, and wearable devices across the globe. An increase in healthcare-related investment has led to an increase in the demand for in-vitro diagnostics, which in turn is driving the growth of microfluidic components.Additionally, the growing use of microfluidic components has benefited consumers by providing them with accurate and precise data, which has fueled the market's growth. The primary challenges to the market, however, are standardization and commercialization of components.

Source: BlueWeave Consulting

Microfluidic Components Market Overview

Microfluidic components are employed in lab-on-a-chip applications. The lab-on-chip application is a collection of multiple procedures that are compiled into one chip. These components are highly efficient and capable of providing sensitivity, equipment mobility, and analysis speed. Moreover, compared to conventional methods, it uses fewer samples, reagents, and chemicals. Thermoplastics such as acrylic,glass, silicon, or Polydimethylsiloxane (PDMS), an optically transparent silicone rubber with an optical frequency of 240 nM-1100 nM, are used to make microfluidic components. The rising demand for in-vitro diagnostics is also fuelling the growth of the microfluidic components market.

Microfluidic Components Market Trends

Growth Drivers

Wide Application in Diagnostics Driving Market Demand

The popularity of point-of-care diagnostics has reduced hospital visits and early disease diagnoses. With microfluidic components, particularly biosensors integrated with microfluidics, point-of-care testing reduces follow-up calls by 89% and follow-up patient visits by 61%. Thedemand for microfluidic components has been fuelled by this application.For instance, Elveflow, the world pioneer in high-performance microfluidic flow control, uses its microfluidic technology to detect toxins, analyze DNA sequences, and create inkjet printing devices. Microfluidic components provide sensitivity, stability, accuracy, affordability, and minimally invasive point-of-care technology. Additionally, the microfluidic components market offers a high return on investment and helpswith cost control by minimizing errors.

Restraints

Standardization and Commercialization of Market.

Market growth for microfluidic components is hindered by strict regulations required for the standardization of products. The microfluidic community is slow, reluctant, and has stringent standards and guidelines. Through the product development cycle, there is a constant need for academics, researchers, designers, and industries to harmonize with each other. This increases the amount of time, effort, and money required to bring a single product to the market. The number of submissions related to microfluidic component devices to regulatory agencies such as the U.S Food and Drug Administration is very low. Appropriate assessment of device performance remains a bottleneck for microfluidic devices. These loopholes in the standardization and commercialization process havebeen impeding the growth of the microfluidic components market.

Impact of COVID-19

With the COVID-19 outbreak, microfluidic component devices have seen a surge in demand. Based on a December 2020 article titled "Evaluation of current diagnostic methods for COVID-19", it was concluded that nanobiosensors, microfluidics, and instrumental advancements are regarded as promising technologies for tackling pandemic-like situations. The crucial need for rapid detection tests during the pandemic has popularized the market in the healthcare sector. Moreover, due to the extreme benefits offered by the microfluidic components industry, numerous companies have launched unique solutions throughout the pandemic period. In March 2020, FDA approved the use of Cepheid’s GeneXpert, a rapid molecular diagnostic machine that can run a complete test in 45 minutes. Thus, the COVID-19 has had a favorable impact on the global microfluidic components market.

Microfluidic Components Market- By Product

Based on products, the microfluidic components market is segmented intothe valve, flow and pressure controllers, flow and pressure sensors, nozzles, micropumps, microneedles, and others. The valve segment is further segmented into solenoid valves, flow control valves, check valves, shuttle valves, pressure relief valves, proportional valves, and other valves. The valve segment held the largest market share in 2020. Its wide applicability across numerous industrial sectors is one of the factors fueling its growth. Due to increasing automation across all industries, the valve segment, especially the solenoid valve segment, dominates the microfluidic component market.

Source: BlueWeave Consulting

Microfluidic Components Market- By Application

Based on applications, the microfluidic components market is segmented into automotive, aerospace&defense, healthcare, consumer electronics, oil & gas, and others. Among these, the healthcare segment contributed the highest revenue to the market in 2020. The growth can be attributed to the high demand that rapid diagnostics or point-of-care diagnostics witnessed in 2020. Additionally, increased healthcare expenditures, automation demand, government funding, and other factors have all contributed to the growth of this segment.

Microfluidic Components Market- Regional Insights

Based on regions, the microfluidic components market is categorized into North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. Among these, North America leads the market with the highest market share in 2020.Growing research and development in microfluidic technology in the US has been one of the primary factors driving the growth of the market. The presence of well-established healthcare and higher adoption of novel therapeutics has also expanded the microfluidic components market in the North American region.The Asia-Pacific region, on the other hand, is expected to grow at an accelerating rate during the forecast period. The most significant market player Parker Hannifin has expanded its product portfolio in Asia. Additionally, the increasing industrial projects in China and India due to rapid urbanization are powering the growth of the microfluidic components market in the Asia Pacific.

Competitive Landscape

The microfluidic components market is mildly fragmented and led by few dominant players. The key players dominating the market are Parker Hannifin Corporation, IDEX CORPORATION, Fluigent SA, Staiger GmbH & Co. KG, SMC Corporation, Camozzi Automation Spa Società, Unipersonale, Aigneps.p.a., FIM ValvoleSrl, Humphrey Products Corporation,and other prominent players. IDEX Corporation and Parker Hannifin Corporation control the largest share of the market.The small to mid-size companies are marking their market presence by lowering prices and introducing new technologies. The key players maintain their dominance in the market by adopting strategies like strategic alliances, acquisitions, collaborations, and launching advanced product innovations.

Recent Developments

• In June 2021, the 14^th Lab-on-a-Chip, and Microfluidics Europe 2021 online global conference was announced. A host of lab-on-chip applications were showcased during the three-day conference, from life science research to taking diagnostics to the point-of-care and organs-on-a-chip.

• In May 2021, Nuclera, a fast-growing biotech company, acquired E Ink's digital microfluidics unit into the newly formed US subsidiary of Nuclera, which will enable the delivery of revolutionary desktop protein and gene bioprinter. 

Scope of the Report

By Product

• Valves
  • Solenoid Valves
  • Flow Control Valves
  • Check Valves
  • Shuttle Valves
  • Pressure Relief Valves
  • Proportional Valves
  • Other Valves
• Flow and Pressure Controllers
• Flow and Pressure Sensors
• Micropumps
• Nozzles
• Microneedles
• Other Components (Tubing, Connectors)

By Industry

• Oil & Gas
• Healthcare
• Aerospace &Defence
• Consumer Electronics
• Automotive
• Other Industries

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle-East & Africa

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Primary & Secondary Research End-use Industry
      2. Secondary Research
      3. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Microfluidic Components Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Porter’s Five Forces Analysis
      1. Bargaining End-use Industry of Suppliers
      2. Bargaining End-use Industry of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
   4. Recent Development/ Technological Advancement
   5. Regulatory Insights
5. Global Microfluidic Components Market Overview
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)        
   2. Market Share & Forecast
      1. By Product
         1. Valves
            1.  Solenoid Valves
            2.  Flow Control Valves
            3.  Check Valves
            4.  Shuttle Valves
            5.  Pressure Relief Valves
            6.  Proportional Valves
            7.  Other Valves
         2. Flow and Pressure Controllers
         3. Flow and Pressure Sensors
         4. Micropumps
         5. Nozzles
         6. Microneedles
         7. Others
      2. By Industry
         1. Oil & Gas
         2. Healthcare
         3. Aerospace & Defence
         4. Consumer Electronics
         5. Automotive
         6. Others

           5.2.3. By Region

               5.2.3.1. North America

5.2.3.2. Europe

               5.2.3.3. Asia-Pacific

5.2.3.4.Latin America

               5.2.3.5. Middle East and Africa

6. North Microfluidic Components Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Industry
      3. By Country
         1. U.S.
         2. Canada
7. Europe Microfluidic Components Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Industry
      3. By Country
         1. France
         2. Germany
         3. Italy
         4. Spain
         5. U.K.
         6. Rest of Europe
8. The Asia-Pacific (APAC) Microfluidic Components Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Industry
      3. By Country
         1. Japan
         2. China
         3. India
         4. South Korea
         5. Australia
         6. Rest of APAC
9. Latin America Microfluidic Components Market
   1. Market Size & Forecast by Value, 2017-2027
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product
      2. By Industry
      3. By Country
         1. Brazil
         2. Argentina
         3. Mexico
         4. Rest of Latin America
10. The Middle East & Africa (MEA) Microfluidic Components Market
    1. Market Size & Forecast by Value, 2017-2027
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Product
       2. By Industry
       3. By Country
          1. South Africa
          2. Saudi Arabia
          3. U.A.E.
          4. Qatar
          5. Turkey
          6. Rest of MEA
11. Competitive Landscape
    1. List of Key Players and their Offerings
    2. Company Market Share Analysis, 2020
    3. Competitive Benchmarking, By Operating Parameters
    4. Competitive Benchmarking, By Product Offerings
    5. Strategic Developments
12. Impact of Covid-19 across Global Microfluidic Components Market
13. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *

13. 1. Parker Hannifin Corporation
    2. IDEX CORPORATION
    3. Fluigent SA
    4. Staiger GmbH & Co. KG
    5. SMC Corporation
    6. Camozzi Automation Spa Società
    7. Unipersonale
    8. Aignep s.p.a.
    9.  FIM ValvoleSrl
    10. Humphrey Products Corporation
    11. The Lee Company
    12. Dolomite Microfluidics
    13. Cellix Ltd.
    14. ElveflowMicrofluids
    15. Christian Bürkert GmbH & Co. KG
    16. Metal Work SPA
    17. Vesta Automation SRL
    18. International Polymer Solutions
    19. Fortive Corporation
    20. Fluidigm Corporation
    21. Other Prominent Players.
14. Key Strategic Recommendations

*Financial details of unlisted companies will be available as per data availability in the final deliverable

**The segmentation and the companies are subjected to modifications based on the in-depth secondary for the final deliverable

List of figures

1. Global Microfluidic Components Segmentation

2. Global Microfluidic Components Market Value Chain Analysis

3. Company Market Share Analysis, 2020

4. Global Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

5. Global Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

6. Global Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

7. Global Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

8. North America Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

9. North America Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

10. North America Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

11. North America Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

12. Europe Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

13. Europe Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

14. Europe Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

15. Europe Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

16. Asia-Pacific Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

17. Asia-Pacific Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

18. Asia-Pacific Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

19. Asia-Pacific Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

20. Latin America Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

21. Latin America Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

22. Latin America Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

23. Latin America Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

24. Middle East & Africa Microfluidic Components Market Size, By Value (USD Billion), 2017-2027

25. Middle East & Africa Microfluidic Components Market Share (%), By Product, By Value, 2017-2027

26. Middle East & Africa Microfluidic Components Market Share (%), By Industry, By Value, 2017-2027

27. Middle East & Africa Microfluidic Components Market Share (%), By Country, By Value, 2017-2027

List of Tables

1. Global Microfluidic Components Market Size, By Product, By Value, 2017-2027

2. Global Microfluidic Components Market Size, By Industry, By Value, 2017-2027

3. Global Microfluidic Components Market Size, By Region, By Value, 2017-2027

4. North America Microfluidic Components Market Size, By Product, By Value, 2017-2027

5. North America Microfluidic Components Market Size, By Industry, By Value, 2017-2027
6. North America Microfluidic Components Market Size, By End-User, By Value, 2017-2027
7. North America Microfluidic Components Market Size, By Country, By Value, 2017-2027
8. Europe Microfluidic Components Market Size, By Product, By Value, 2017-2027
9. Europe Microfluidic Components Market Size, By Industry, By Value, 2017-2027
10. Europe Microfluidic Components Market Size, By Country, By Value, 2017-2027
11. Asia-Pacific Microfluidic Components Market Size, By Product, By Value, 2017-2027
12. Asia-Pacific Microfluidic Components Market Size, By Industry, By Value, 2017-2027
13. Asia-Pacific Microfluidic Components Market Size, By Country, By Value, 2017-2027
14. Latin America Microfluidic Components Market Size, By Product, By Value, 2017-2027
15. Latin America Microfluidic Components Market Size, By Industry, By Value, 2017-2027
16. Latin America Microfluidic Components Market Size, By Country, By Value, 2017-2027
17. Middle East & Africa Microfluidic Components Market Size, By Product, By Value, 2017-2027
18. Middle East & Africa Microfluidic Components Market Size, By Industry, By Value, 2017-2027
19. Middle East & Africa Microfluidic Components Market Size, By Country, By Value, 2017-2027
20. Parker Hannifin Corporation Financial Analysis
21. Parker Hannifin Corporation Business Overview
22. IDEX CORPORATIONFinancial Analysis
23. IDEX CORPORATIONBusiness Overview
24. Fluigent SA Financial Analysis
25. Fluigent SA Business Overview
26. Staiger GmbH & Co. KGFinancial Analysis
27. Staiger GmbH & Co. KGBusiness Overview
28. SMC Corporation Financial Analysis
29. MEDICO S.p.A.  Business Overview
30. Camozzi Automation Spa SocietàFinancial Analysis
31. Camozzi Automation Spa SocietàBusiness Overview
32. UnipersonaleFinancial Analysis
33. UnipersonaleBusiness Overview
34. Aignep s.p.a.Financial Analysis
35. Aignep s.p.a. Business Overview
36. FIM ValvoleSrlFinancial Analysis
37. FIM ValvoleSrlBusiness Overview
38. Humphrey Products Corporation Financial Analysis
39. Humphrey Products Corporation Business Overview
40. The Lee Company Financial Analysis
41. The Lee Company Business Overview
42. Dolomite Microfluidics Financial Analysis
43. Dolomite Microfluidics Business Overview