Microfluidic Immunoassay Market (2024-2031)
The Microfluidic Immunoassay Market was valued at $0.92 billion in 2023. This market is expected to reach $1.59 billion by 2031, from an estimated $0.98 billion in 2024, at a CAGR of 7.3% during the forecast period 2024-2031. Microfluidic Immunoassay Market Size & Forecast The growth of this market
- Published
- Jan 2024
- Pages
- 259
- Format
- PDF + Excel
- Report ID
- MRHC - 104334
- Base year
- 2023
- 2023 · BASELINE
- $920.0M
- 2031
- $1.59B
- CAGR 2024–2031
- 7.3%
2023 baseline · 2024–2031 forecast at 7.3% CAGR · hover a bar for the value
Key highlights
By Product: In 2024, the Microfluidic Cartridges Segment to Dominate the Microfluidic Immunoassay Market
By Technology: In 2024, the Electrochemical Detection Segment to Dominate the Microfluidic Immunoassay Market
By Application: In 2024, the Cardiology Segment to Dominate the Microfluidic Immunoassay Market
By End User: In 2024, the Pharmaceutical & Biotechnology Companies Segment to Dominate the Microfluidic Immunoassay Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 259 |
| Format | |
| Forecast Period | 2024-2031 |
| Base Year | 2023 |
| CAGR | 7.3% |
| Estimated Market Size (Value) | $1.59 billion by 2031 |
| Segments Covered | By Product · Consumables · Cartridges · Polymer · Glass · Silicon · Reagents · Systems · By Technology · Electrochemical Detection · Optical Detection · By Application · Cardiology · Single Biomarker Detection · Multiplexed Biomarker Detection · Infectious Diseases · Oncology · Other Applications · (Note: Other applications consist of pregnancy, diabetes, thyroid, kidney diseases, and drug of abuse testing) · By End User · Pharmaceutical & Biotechnology Companies · Diagnostic Laboratories · Hospital · Other End Users · (Note: Other end users include home healthcare, self-testing, academic institutes & research centers, and forensic labs) |
| Countries Covered | North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), Latin America, and Middle East & Africa |
| Key Companies | The key players operating in the global microfluidic immunoassay market are Becton, Dickinson and Company (U.S.), Revvity, Inc. (U.S.), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), Nanomix Corporation (U.S.), Micropoint Biotechnologies Co., Ltd. (China), Biosurfit SA (Portugal), Koninklijke Philips N.V. (Netherland), NanoEnTek Inc. (South Korea), and QuidelOrtho Corporation (U.S.). |
Report overview
Segments covered: product, consumable, cartridge, polymer, glass, silicon, reagent, system, technology, electrochemical detection, optical detection, application, cardiology, single biomarker detection, multiplexed biomarker detection, infectious disease, oncology, other application, end user, pharmaceutical & biotechnology company, diagnostic laboratory, hospital, other end user. Regions: North America, Europe, Asia-Pacific.
The growth of this market is driven by the increasing use of microfluidic immunoassays in drug discovery & development and biomarker detection, the advantages of lab-on-chip immunoassays over conventional immunoassays, pharmaceutical & biotechnology companies’ increasing focus on research & development, and the miniaturization of biological and chemical assays. Moreover, the increasing demand for point-of-care diagnostics and recent advancements in microfluidic immunoassay technology are expected to generate market growth opportunities.
Report infographic
Market dynamics
5 factors across 3 forcesIncreasing Use of Microfluidic Immunoassay in Biomarker Detection and Drug Discovery & Development
Pharmaceutical and biotechnology companies allocate significant resources to research. Microfluidic immunoassay is majorly used for the detection of biomarkers associated with diseases for understanding disease mechanism for drug development and disease detection. Microfluidic immunoassays have become increasingly important in maintaining precision and accuracy in drug research & development and reducing the time required for research.
Numerous drug discovery processes can benefit from the use of microfluidics, including drug compound synthesis, screening, delivery, and the development of carrier systems. Microfluidic immunoassays have applications in drug screening due to their benefits, such as improved throughput, reduced consumption of reagents, automation, reduced reaction time, seamless integration and parallelization, simplification of operational steps, and reduced waste generation.
Pharmaceutical and biotechnology companies combine microfluidic immunoassays with various detection technologies for high-throughput screening and the detection and mechanistic study of drugs. The players operating in this market are collaborating to develop advanced microfluidic immunoassay products.
Increasing Funding for Microfluidic Immunoassay Research
Microfluidics sector is gaining traction in recent years owing to the ongoing research in the field and increasing applications in drug discovery and diagnostics. The key players operating in the market and government agencies are providing funding and grants for the research.
- In April 2022, India’s Ministry of Electronics & Information Technology provided USD 0.1 million (INR 93 Lakhs) has provided the funding for the ‘Microfluidic Point-of-Care System for Molecular Diagnostics’ project. The project is a part of the Centre of Excellence in Nanoelectronics: Phase -III (CeNSE). The project timeline was announced as 15-04-2018 to 14-04-2022. However, the project has been extended and is still ongoing.
- In November 2021, Parallel Fluidics (U.S.), a manufacturer of microfluidic devices, raised USD 1.8 million in a round of financing from technologists, investors, and founders. The company planned to use this funding to increase its capacity and capability in manufacturing microfluidics devices.
Table of contents
12 chapters · 104 sections · 259 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2031) |
|---|---|---|
| By Product | Microfluidic Cartridges | — |
| By Technology | Electrochemical Detection | — |
| By Application | Cardiology | Oncology |
| By End User | Pharmaceutical & Biotechnology Companies | — |
By Product
- The consumables segment is expected to account for the largest share of 69.6% of the microfluidic immunoassay market.
- The consumables segment is further segmented into microfluidic cartridges and reagents.
- The microfluidic cartridges segment is expected to account for the largest share.
- Cartridges have become essential tools for diagnosing various diseases.
- These assays are used for testing infectious diseases, cancer markers, cytokines, cardiac markers, autoimmune diseases, and endocrine diseases.
- Their increasing application areas in clinical diagnostics and R&D are driving the market's growth.
By Technology
- The electrochemical detection segment is expected to account for the largest share of the microfluidic immunoassay market.
- Electrochemical detection has been widely employed in point-of-care testing owing to its cost efficiency, ability to analyze turbid samples, and adaptability for miniaturization.
- Electrochemical detection coupled with microfluidics is a promising detection technology for immunoassays owing to the benefits such as simple and portable assay, low sample consumption, low detection limit, and rapid method contributing to the largest share of the segment.
By Application
- The Cardiology Segment to Dominate the Microfluidic Immunoassay Market
- The cardiology segment is expected to account for the largest share of 53.5% of the microfluidic immunoassay market.
- Cardiac markers are released in the blood after injury to the heart muscles.
- These indicators are used as a measure to diagnose cardiovascular diseases.
- The rising prevalence of cardiovascular diseases is increasing the demand for microfluidic immunoassay detection kits.
- According to, American Heart Association (U.S.), a non-profit organization involved in consumer education about cardiovascular disease, more than 350,000 cardiac arrests occur outside the hospital each year.
- The microfluidic cartridges detects cardiac biomarkers for accurate diagnosis.
- The microfluidic cardiac biomarker tests are also used in the biomedical and clinical research.
- These biomarkers are objectively measured and used to indicate a certain biological state, whether physiological, pathological, or pharmacological, and gather information about normal molecular physiology as well as cardiovascular disease (CVD) activity and progression, which can further be used in drug discovery is further supporting the largest share of segment.
- The oncology segment is expected to grow at the highest CAGR of 8.7% during the forecast period.
- The increasing prevalence of cancer (malignant tumor) and the development of microfluidic devices for the analysis of various biomarkers, including proteins, circulating tumor cells, exosomes, and cell-free DNA, contributed to the highest CAGR of the segment.
- For instance, cancer is a major health concern globally and is one of the leading causes of morbidity and mortality across the world.
- According to GLOBOCAN, the global burden of cancer is expected to increase from 19.3 million cases in 2020 to 24.6 million cases by 2030.
By End User
- The pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market.
- The rising number of research laboratories, increasing investment in R&D, and rising funding for research laboratories support the largest share of the market.
- The funding for research laboratories is increasing due to the increasing demand for new drugs and therapies.
Geographic analysis
North America
Largest shareIn 2024, North America is expected to account for the largest share of the 40.3% of microfluidic immunoassay market. The largest share of the region is attributed to rising government support and spending for research activities, rising R&D investment by pharmaceutical & biopharmaceutical companies, high number of laboratory tests performed annually, developed healthcare infrastructure in the region, the growing trend for self-testing, a high number of CLIA-waived tests, and increasing prevalence of chronic diseases. according to the WHO, new cancer cases in the U.S. are expected to increase from 2.2 million in 2020 to 2.7 million by 2030. Microfluidic immunoassays have a major application in cancer diagnosis and targeted therapy based on biomarkers. Therefore, the increasing prevalence of cancer is expected to propel the growth of the microfluidic immunoassay market in the region. In 2024, North America to Dominate the Microfluidic Immunoassay Market
Asia-Pacific
Fastest growthMoreover, the market in Asia-Pacific is slated to register the highest growth rate of 9.1% during the forecast period. The growth of the microfluidic immunoassay market in Asia-Pacific is attributed to the rising research funding in the healthcare and pharmaceutical industry, the rising number of research laboratories, the advancing research framework, and the growing number of diagnostic laboratories in countries such as China, India, Japan, South Korea, and others. For instance, in 2022, the R&D spending of BeiGene Ltd. (China), one of the major pharmaceutical companies, increased by 12.4% from 2021. The increasing use of microfluidic immunoassay in precision medicine and government initiatives for precision medicine is also driving the market growth. The report offers a competitive landscape based on an extensive assessment of the product offerings and geographic presence of leading market players and the key growth strategies adopted by them over the past few years (2021–2024). The key players operating in the global microfluidic immunoassay market are Becton, Dickinson and Company (U.S.), Revvity, Inc. (U.S.), Abbott Laboratories (U.S.), Siemens Healthineers AG (Germany), Nanomix Corporation (U.S.), Micropoint Biotechnologies Co., Ltd. (China), Biosurfit SA (Portugal), Koninklijke Philips N.V. (Netherland), NanoEnTek Inc. (South Korea), and QuidelOrtho Corporation (U.S.). Microfluidic Immunoassay Market: Key Companies
Competitive landscape
- March 2023
QuidelOrtho Corporation (U.S.) received a De Novo request from the U.S. Food and Drug Administration (FDA) for the marketing of Sofia 2 SARS Antigen+ FIA. The assay is a lateral flow (microfluidic) immunofluorescent sandwich assay used for the qualitative detection of the nucleocapsid protein antigen from SARS-CoV-2 in direct nasopharyngeal (NP) and nasal (NS) swab specimens.
- November 2022
Nanomix Corp. (U.S.) entered into a distribution agreement with Gepa Srl (Italy). The agreement is for the distribution of the eLab system in Italy.
- November 2022
LumiraDx Healthcare Pvt Ltd (India) launched a C-Reactive protein point of care antigen test in India. The test gives result in four minutes. The test is used to combat antimicrobial resistance in India.
- October 2022
Micropoint Biotechnologies Co., Ltd. (China) received a CE marking for the Micropoint COVID-19 Ag test.
- Becton
- Dickinson and Company (U.S.)
- Revvity, Inc. (U.S.)
- Abbott Laboratories (U.S.)
- Siemens Healthineers AG · Germany
- Nanomix Corporation (U.S.)
- Micropoint Biotechnologies Co., Ltd. · China
- Biosurfit SA · Portugal
- Koninklijke Philips N.V. · Netherland
- NanoEnTek Inc. · South Korea
- QuidelOrtho Corporation (U.S.)
Frequently asked questions
The global microfluidic immunoassay market covers the study of various microfluidic immunoassay cartridges, reagents, and systems used in various application areas at the regional and country levels. The report also provides insights on factors impacting market growth, regulatory analysis, pricing analysis, and Porter’s five forces analysis.
Cite this report
Meticulous Research. (2024). Microfluidic Immunoassay Market - Global Opportunity Analysis and Industry Forecast (2024-2031) (Report No. MRHC - 104334). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/microfluidic-immunoassay-market-5034