According to the recently released report by Bekryl, Global digital microfluidics Market is estimated to be valued at US$ 674 million in 2022 and is expected to register above 30.0% CAGR during the forecast period. Demand for Digital Microfluidics is increasing due to growing ageing population, increasing prevalence in chronic disease, and technological advancements in microfluidics market.
Excerpts from the report states that North America digital microfluidics market is estimated to dominate the global revenue in 2022. North America is the major manufacturing hub for the microfluidic devices as majority of the companies are based in the region. As per the estimates, there are over 15,000 major medical device, pharmaceutical and biotechnology companies based in the region. The market in the region is estimated to account for above 65% share in 2022. However, the region will lose basis points to Asia Pacific and Latin America. This signifies increasing product penetration in developing economies. India digital Microfluidics market is estimated to be valued at US$ 2.2 Mn in 2022.
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Few key trends from digital microfluidics market:
Trend#1: Increased Funding Across the Globe in Order to Expand and Develop Novel Solutions
- In April 2021, Baebies received US$ 11.6 million as funding from CARB-X. The funding is intended to support the development of a near-patient and rapid diagnostic platform for sepsis. As of May 2021, the company has raised a total of US$ 28.3 Mn from 173 investors in order to develop and commercialize newborn screening and pediatric testing solutions. The company has delivered 10 million screenings since its inception in 2014.
Trend#2: By 2030, 66.8% of Total Digital Microfluidics Sales will be Dominated by Targeted Sequencing and Resequencing Segment
As of 2022, over 3/4th of global digital microfluidics is estimated to dominated by targeted sequencing and resequencing segment.
Trend#3: Large Players in the Microfluidic Industry Focus on Acquiring or Merging with Other Digital Microfluidic System Players
- In March 2021, Roche announced plans to sign definitive merger agreement with GenMark Diagnostics, Inc., in order to access novel technology to test for broad range of pathogens with one patient sample. The deal is expected to be valued at US$ 1.8 Bn.
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The top five digital microfluidics manufacturers are:
- Baebies, Inc.
- Micronit
- GeneMark Diagnostics
- BGI
- Oxford Nanopore Technologies
New entrants such as eMALDI BV, Miroculus, Digi.Bio, Sandia Laboratories have emerged in the market with innovative products. For instance, Digi.Bio is leveraging AI in its digital microfluidic portfolio
About Bekryl
Bekryl Market Analysts is a global market research and consulting service firm that helps industry stakeholders to take smarter decisions and achieve remarkable growth in today’s disruptive business environment. We bring together data, leader’s opinion and analytical service to help client define their growth strategy ranging from mergers and acquisitions based strategic decisions to finding market opportunity in business verticals namely chemicals, food & beverages, automotive, electronics and industrial production.
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