Companies In The Microfluidics Market Are Adopting 3D Printing Technology To Streamline Drug Discovery - By The Business Research Company
LONDON, Nov. 22, 2022 /PRNewswire/ -- The use of 3D printing in microfluidics is gaining popularity in the microfluidics market trends. 3D printing helps to produce microfluidic chips in two ways, help with fabrication of molds, and mold-less fabrication of microfluidic devices through direct printing. The most notable advantage of 3D printing is the quick turnaround from concept to prototype. For instance, in January 2022, Phase Inc, a US-based medical 3D printing startup, has partnered with Virginia Tech, a US based public land-grant research university to advance the field of microfluidics 3D printing. Phase and Virginia Tech will use the former's proprietary LE3D printing technology to develop novel microfluidic devices that help streamline drug discovery and personal health diagnostics.
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The global microfluidics market size is expected to grow from $6.07 billion in 2021 to $6.86 billion in 2022 at a compound annual growth rate (CAGR) of 13.10%. The global microfluidics market size is expected to grow to $10.79 billion in 2026 at a compound annual growth rate (CAGR) of 11.99%.
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Microfluidics Market Driver – Increased Number Of Clinical Studies For Cell-Based Therapies
The increased number of clinical studies for cell-based therapies contributed to the growth of the microfluidics market during the historic period. Microfluidics has emerged as a potential platform to advance biomanufacturing in the field of drug/gene/cell therapies via improved synthesis of nanoscale drug/gene delivery system, microencapsulation of drug/cells, intracellular delivery of macromolecules and fabrication of macroscale construct of micro-/nano-fibers. For instance, according to data from ClinicalTrials.gov, a US National Library of Medicine at the National Institutes of Health, as of April 2021 there are 1,358 active cell therapy trials, this represents an increase of 43% from 2020 to 2021, compared with a 24% increase from 2019 to 2020. Therefore, the increased number of clinical studies for cell-based therapies is likely to drive the growth of the microfluidics market during the forecast period.
Microfluidics Market Segmentation
The global microfluidics market is segmented -
1) By Material: Silicon-Based Microfluidics, Glass-Based Microfluidics, Polymer-Based Microfluidics
2) By Application: Industrial and Environmental, Drug Delivery, Pharmaceutical and Life Science Research, Analysis, Clinical and Veterinary Diagnostics
North America Held The Largest Microfluidics Market Share In 2021
North America was the largest region in the microfluidics market and was worth $2.18 billion in 2021. The microfluidics market in North America is supported by growth of emerging economies such as USA and Canada. The market is propelled by growing healthcare spending in Canada. In 2021, total health spending in Canada is predicted reached $308 billion, after a spike in spending, particularly in 2020 due to the pandemic. The market is also supported by investment in the microfluidics market. For example, in August 2021, the government of Canada invested in more than 300 research projects, including microfluidics to develop single cell infrastructure at Ryerson University.
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