Fluidic Devices Market Size to Surpass US$ 601.6 Million by 2033, exhibiting a CAGR of 9.4% by Persistence Market Research Study
Market Overview:
The global fluidic devices market was valued at US$ 225.4 million in 2022, and from 2023 to 2033, it is forecasted to expand rapidly at a CAGR of 9.4%. A wide range of analytes from human samples, including circulating tumor cells (CTCs), proteins, circulating tumor DNA (ctDNA), and exosomes, are analyzed with fluidic devices.
Fluidics is a versatile field that utilizes devices with microliter volumes or micrometer dimensions. These devices enable on-site testing, early intervention, and timely diagnosis, improving patient outcomes and enhancing healthcare. AI-powered fluidic devices have revolutionized point-of-care clinical diagnostics, reducing healthcare costs and improving efficiency.
Market Growth Factors:
The Surface Inspection Market is experiencing robust growth due to several key factors:
- Quality Assurance Demands: In industries such as manufacturing, automotive, electronics, and packaging, ensuring product quality is paramount. Surface inspection systems help maintain high-quality standards by detecting defects, flaws, or deviations in products, reducing production costs and enhancing customer satisfaction.
- Automation and Industry 4.0: The adoption of automation and Industry 4.0 principles in manufacturing processes is driving the demand for surface inspection systems. These systems play a crucial role in automated quality control, ensuring that products meet specifications without human intervention.
- Rising Production Volumes: Increasing production volumes in various industries require efficient and reliable inspection methods. Surface inspection systems enable manufacturers to maintain quality standards while scaling up production, reducing the risk of defects in high-volume manufacturing.
- Advancements in Technology: Continuous advancements in imaging technology, artificial intelligence (AI), machine learning, and computer vision have led to the development of more accurate and sophisticated surface inspection systems. These systems can detect even minor defects with precision.
- Stringent Quality Standards: Stringent quality standards and regulations in industries like food and beverage, pharmaceuticals, and automotive necessitate the use of surface inspection systems to comply with regulatory requirements and ensure product safety.
- Cost Reduction: Surface inspection systems help reduce costs associated with rework, scrap, and warranty claims by identifying defects early in the production process. This cost-saving aspect is a significant driver for market growth.
- Increased Consumer Expectations: Consumer expectations for high-quality products are continuously rising. Surface inspection systems help manufacturers meet these expectations and maintain brand reputation.
- Customization and Personalization: As customization and personalization become more common in manufacturing, surface inspection systems ensure that individualized products meet quality standards, contributing to market growth.
- Global Expansion: The globalization of supply chains and manufacturing facilities has led to increased demand for surface inspection systems to maintain quality control across multiple locations.
- Environmental Concerns: Surface inspection systems assist in reducing waste and improving resource efficiency by identifying defects early, leading to sustainable manufacturing practices.
- Competitive Advantage: Companies that invest in advanced surface inspection technologies gain a competitive edge by offering higher-quality products and reducing production costs.
- Diverse Industry Applications: Surface inspection systems are versatile and find applications in various industries, including textiles, electronics, metals, and plastics, contributing to the markets overall growth.
These factors collectively drive the growth of the Surface Inspection Market, making it an essential component of quality control and production optimization in modern industries.
Key Takeaways from Market Study
- The global market for fluidic devices is projected to reach US$ 601.6 million by the end of 2033.
- By product, microchips held 45.6% share of the global market in 2022.
- By application, disease diagnostics accounted for 53.4% of the global market share in 2022.
- By end user, diagnostic centers led the global market with 34% share in 2022.
- North America held a dominant position in the worldwide market in 2022, with the United States reaching a market size of US$ 68.7 million.
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“Fluidics has transformed point-of-care clinical diagnostics, allowing for fast diagnosis, early intervention, and increased efficiency via AI-powered devices,” says an analyst at Persistence Market Research.
The Key Players in the Global Fluidic Devices Market are
Cellix Ltd., Elveflow, Nortis Inc., Fluigent SA, Perkinelmer, Inc., Fluidic Analytics, Blacktrace Holdings Ltd.(Dolomite Microfluidics), SynVivo, Inc., Emulatebio, Micronit B.V., Emerson Electric Co., LUMICKS, microfluidic ChipShop GmbH, Bartels Mikrotechnik GmbH, LEE Ventus, CETONI GmbH, Christian Burkert GmbH & Co. KG, VWR International, LLC., Harvard Apparatus
Market Competition
To establish a solid presence in the industry, manufacturers are implementing a variety of expansion approaches. These include particular promotional initiatives aimed at educating the public about the advantages of fluidic technology. To develop innovative yet affordable products, manufacturers are investing heavily in research and development through partnerships and collaborations.
- In August 2021, Fluid Biotech raised US$ 4.7 million in a Seed Funding Round. The company is focusing on commercializing the flow-diverting brain stent, the worlds first hybrid polymer-metal, to cure brain aneurysms and strokes. The capital is expected to help the company engage its contract manufacturers, complete milestones with respect to regulatory requirements, and plan for its first-in-human implantation.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the fluidic devices market in its latest study, presenting a historical demand assessment for 2012 to 2022 and projections for 2023 to 2033.
The research study is based on product (microchips [polymers, glass, silicon, ceramics, others], flow & pressure sensors, flow & pressure controllers, microfluidic valves, micropumps/microinjectors [syringe microinjectors/micropumps, peristaltic pumps, pressure microinjectors/micropumps, others], microfluidic-based-devices [organ-on-chip, teer-on-chip], other components), application (disease diagnostics [clinical diagnostics, point-of-care testing], pharma & life science research & manufacturing [genomics, proteomics, drug discovery & development, capillary electrophoresis, others (micro reactions, microdispensing, etc.], others [forensics, environmental, food safety, quality control]), and end user (hospitals, diagnostic centers, pharmaceutical & biotechnology companies, academic & research institutes), across seven regions of the world.
Market Segmentation:
Product:
- Microchips
- Polymers
- Glass
- Silicon
- Ceramics
- Others
- Flow & Pressure Sensors
- Flow & Pressure Controllers
- Microfluidic Valves
- Micropumps/Microinjectors
- Syringe Microinjectors/Micropumps
- Peristaltic Pumps
- Pressure Microinjectors/Micropumps
- Others
- Microfluidic-based-Devices
- Organ-on-Chip
- TEER-on-Chip
- Other Components
Application:
- Disease Diagnostics
- Clinical Diagnostics
- Point-of-Care Testing
- Pharma & Life Science Research & Manufacturing
- Genomics
- Proteomics
- Drug Discovery & Development
- Capillary Electrophoresis
- Others (Micro Reactions, Microdispensing, etc.)
- Others (Forensics, Environmental, Food Safety, and Quality Control)
End User:
- Hospitals
- Diagnostic Centers
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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About Persistence Market Research:
Business intelligence is the foundation of every business model employed by Persistence Market Research. Multi-dimensional sources are being put to work, which include big data, customer experience analytics, and real-time data collection. Thus, working on “micros” by Persistence Market Research helps companies overcome their “macro” business challenges.
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COMTEX_444145398/2840/2023-11-28T15:23:44
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No News Postbox journalist was involved in the writing and production of this article.
