Global Microfluidics Market Insights, Size and Growth Forecast To 2027
The global microfluidic market is expected to grow at a CAGR of 19.6% from 2020 to reach USD 46.90 billion by 2027. The growth is primarily driven by technological advancements, fast returns on investment, improved portability via microfluidic chip miniaturization, increasing data precision & accuracy and high demand for POC testing. However, complex regulatory standards, difficulty in incorporating microfluidics technology pose significant challenge. By Product: Microfluidic-based devices segment to register highest CAGR Microfluidic-based devices segment accounted for the fastest growth of Microfluidic market by product in the forecast period. The growth can be primarily attributed to increasing adoption of microfluidic devices, rapid testing and low consumption of sample and reagent. By Application: In-vitro diagnostics segment to grow at highest rate On the basis of application, microfluidics market is segmented into in-vitro diagnostics, pharmace...