Exploring the Key Trends and Drivers Influencing the Future of Microfluidic Immunoassays

1. Microfluidic Immunoassay Market

2. Microfluidic Immunoassay Market Microfluidic Immunoassay Market by Product (Cartridge [Polymer, Glass, Silicon], Reagents, System), Technology (Electrochemical, Optical), Application (Cardiology, Oncology, Infectious Disease), and End User (Pharmaceutical, Hospital) - Global Forecast to 2030 The Microfluidic Immunoassay Market is expected to reach $1.47 billion by 2030 at a CAGR of 7.4% from 2023 to 2030. Microfluidic immunoassays use a lab-on-chip microfluidic platform to conduct the immunoassays for diagnostic and research purposes. These lab-on-chips are majorly used in point-of-care testing. A microfluidic platform contains a miniaturized device that offers the solution for operating multiple-samples, biochemical and biological analyses in a single platform. Lab-on-a-chip has several application areas, including DNA analysis, human diagnostics, veterinary, food & beverage, and, to a lesser extent, chemical synthesis. 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. However, bubble formation and dead volume in microfluidics devices restrain the growth of this market. Moreover, the increasing demand for point-of-care diagnostics and recent advancements in microfluidic immunoassay technology are expected to generate market growth opportunities. However, the selection of suitable substrate materials for designing microfluidic chips and product design and cost-related limitations in developing countries are major challenges for market stakeholders. Download free sample report: https://www.meticulousresearch.com/download-sample- report/cp_id=5034 Page 1 of 6 © Meticulous Research| sales@meticulousresearch.com

3. Microfluidic Immunoassay Market Increasing Use of Microfluidic Immunoassay in Biomarker Detection and Drug Discovery & Development is Driving the Market Pharmaceutical and biotechnology companies allocate significant resources to research. Microfluidic immunoassay is majorly used for the detection of biomarkers associated with the 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. Click Here to : Sample Report Increasing Demand for Point-of-Care Testing is Offering Opportunities for Market Growth Existing laboratory diagnostic technologies require sophisticated infrastructure, expensive reagents, stable electricity supply, long assay times, and trained staff. Hospitals and large clinics have the budgets necessary to meet these requirements. Moreover, sophisticated laboratory tests are difficult to perform in many areas across developing countries due to the lack of resources and infrastructure. Also, laboratories and medical testing facilities are often limited and inaccessible to patients in such areas. Hence, these countries are increasingly facing the burden of infectious and non-communicable diseases, leading to high mortality. According to UNAIDS, in 2021, about 38.4 million people worldwide had HIV, compared to 37.7 million in 2020. Furthermore, the prevalence of influenza is rising globally. According to the WHO, globally, an estimated 1 billion cases of influenza are registered annually, with 3-5 million being severe cases. Deploying rapid and easy-to-use POC tests and microfluidics-based POC tests in low-income countries can enable enhanced disease diagnosis on- site without the need for trained healthcare professionals. Moreover, laboratory testing requires a significant amount of time and reagent consumption. For instance, urinalysis at a laboratory/medical testing facility takes 24–48 hours to deliver results. This time can be reduced considerably with the use of lab-on-chip POC tests. Thus, manufacturers of POC diagnostics, including microfluidic immunoassays, can expand to untapped markets in developing countries to leverage these opportunities. Thus, the increasing demand for POC testing is expected to generate growth opportunities for the players operating in this market. Request for sample Report:https://www.meticulousresearch.com/request-sample- report/cp_id=5034 Page 2 of 6 © Meticulous Research| sales@meticulousresearch.com

4. Microfluidic Immunoassay Market In 2023, the Microfluidic Cartridges Segment is Expected to Account for the Largest Share of the Microfluidic Immunoassay Consumables Market Based on product, the microfluidic immunoassay market is segmented into consumables and systems. The consumables segment is further segmented into microfluidic cartridges and reagents. In 2023, the microfluidic cartridges segment is expected to account for the largest share of the microfluidic immunoassay market. 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. Among the Technologies, in 2023, the Electrochemical Detection Segment is Expected to Account for the Largest Share of the Market Based on technology, the microfluidic immunoassay market is segmented into electrochemical detection and optical detection. In 2023, 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. Request for Customization:https://www.meticulousresearch.com/request- customization/cp_id=5034 The Oncology Segment Is Projected to Register the Highest CAGR During the Forecast Period Based on application, the global microfluidic immunoassay market is segmented into cardiology, infectious diseases, oncology, and other applications. The oncology segment is expected to grow at the highest CAGR 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. In 2023, the Pharmaceutical & Biotechnology Companies Segment is Expected to Account for the Largest Share of the Market Based on end user, the global microfluidic immunoassay market is segmented into pharmaceutical & biotechnology companies, diagnostic laboratories, hospitals, and other end users. In 2023, 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. The NIH funding increased from USD 33 billion in 2015 to USD 42 billion in 2021 for research purposes (Source: Congressional Research Service). Similarly, in 2021, the European government introduced Horizon Europe, a Page 3 of 6 © Meticulous Research| sales@meticulousresearch.com

5. Microfluidic Immunoassay Market research program with funding of USD 80.7 billion (EUR 95.5 billion) for various research areas, including health. Health includes the funding for research institutes for the development of diagnostic, treatment, and vaccines for emerging endemic diseases (Source: European Commission). Speak to Analyst: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5034 Asia-Pacific: Fastest Growing Regional Market Asia-Pacific is expected to grow at the highest CAGR 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. Key Players The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over the years. 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.). Buy Now:https://www.meticulousresearch.com/Checkout/80588586 Scope of the Report: Microfluidic Immunoassay Market Assessment, by Product •Consumables oCartridges ▪Polymer ▪Glass ▪Silicon oReagents •Systems Microfluidic Immunoassay Market Assessment, by Technology •Electrochemical Detection •Optical Detection Microfluidic Immunoassay Market Assessment, by Application •Cardiology Page 4 of 6 © Meticulous Research| sales@meticulousresearch.com

6. Microfluidic Immunoassay Market oSingle Biomarker Detection oMultiplexed Biomarker Detection •Infectious Diseases •Oncology •Other (Note: Other applications consist of pregnancy, diabetes, thyroid, kidney diseases, and drug of abuse testing) Applications Microfluidic Immunoassay Market Assessment, by End User •Pharmaceutical & Biotechnology Companies •Diagnostic Laboratories •Hospital •Other (Note: Other end users include home healthcare, self-testing, academic institutes & research centers, and forensic labs) End Users Microfluidic Immunoassay Market Assessment, by Geography •North America oU.S. oCanada •Europe oGermany oU.K. oFrance oItaly oSpain oRest of Europe (Roe) •Asia-Pacific (APAC) oChina oJapan oIndia oRest of Asia-Pacific (RoAPAC) •Latin America •Middle East & Africa Key questions answered in the report: •What is the focus of Microfluidic Immunoassay Market? •What are the major player operating in the global Microfluidic Immunoassay Market? •What is the value of revenue generated form microfluidic immunosary across the lead? Page 5 of 6 © Meticulous Research| sales@meticulousresearch.com

7. Microfluidic Immunoassay Market Contact Us: Meticulous Research® Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 6 of 6 © Meticulous Research| sales@meticulousresearch.com