Europe Microfluidics Market

Europe Microfluidics Market Size (2023 to 2028)

The size of the Europe microfluidics market is forecasted to be growing at a CAGR of 18.4% from 2023 to 2028 and worth USD 11.8 billion by 2028.

The growing prevalence of chronic and infectious diseases propels the European microfluidics market growth. In Europe, a staggering 86% of deaths are attributed to chronic ailments, underscoring the pressing need for advanced solutions. Microfluidic systems have emerged as indispensable tools in various medical procedures, including immunoassays, flow cytometry, sample injection in mass spectrometry, PCR amplification and DNA analysis. The escalating cases of coronavirus infections among the population, where microfluidics technology plays a crucial role in detecting SARS-CoV-2 antibodies through patient samples drive the European market growth. Additionally, in the realm of cardiovascular diseases, microfluidics proves instrumental in discerning the underlying causes of heart ailments, leveraging diverse microfluidic models for precise diagnostics.

The surging demand for point-of-care testing further contributes to the growth rate of the European microfluidics market. The growing mortality rates associated with diverse chronic diseases have created an intensified need for diagnostic point-of-care kits. Consequently, individuals increasingly seek early disease detection for prompt treatment and prevention. Healthcare systems have embraced point-of-care devices to facilitate early disease detection, thus fostering market expansion in Europe. Microfluidic point-of-care (POC) equipment emerges as a cost-effective solution compared to alternative technologies, enabling affordable disease detection while minimizing the impact of illnesses and enhancing the overall quality of life in these regions.

The growing number of applications and notable advancements in microfluidics boost the European microfluidics market growth. Ongoing research endeavors are dedicated to the development of cutting-edge microfluidic technologies, including the implementation of 3D cell structures, to enhance disease detection efficacy among the population. Moreover, microfluidics plays a pivotal role in drug discovery, development, screening and delivery, offering invaluable contributions to the pharmaceutical industry. By operating programmatically, microfluidics simplifies the intricate process of tailoring drug shape, size, and quantity to meet specific requirements, streamlining drug manufacturing processes. These advancements in microfluidics underscore their significance in driving market growth and opening new avenues for innovation and progress.

The high costs associated with microfluidic technology in Europe are one of the major factors hampering the European market growth. The complex nature of the procedures, inadequate infrastructure, stringent regulatory approval processes and insufficient government support act as further impediments to market expansion within the European region. Furthermore, the scarcity of skilled professionals in certain countries and insufficient government investments pose additional challenges to the growth of the market. These barriers necessitate strategic considerations and collaborative efforts to address and overcome the obstacles to unlock the full potential of the European market.

This market research report on the European microfluidics market has been segmented and sub-segmented following categories.

By Product:

• Microfluidic devices
• Microfluidic components

By Industry:

• In-vitro diagnostics
• Pharmaceutical
• Medical devices
• Others

By Material:

• Polymer
• Glass
• Silicon
• Others

By Application:

• Lab-on-a-chip
• Organs-on-chips
• Continuous flow
• Optofluidics
• Acoustofluidics
• Electrophoresis

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The European region held the second biggest share of the worldwide market in 2023 and is predicted to progress at a healthy CAGR during the forecast period.

Germany accounted for the largest share of the European market in 2023 and is expected to grow at a noteworthy CAGR during the forecast period owing to the growing geriatric population and the proliferation of research institutes. Recognizing the immense potential of microfluid technology in diagnosing various diseases, the government has undertaken several initiatives to foster its development in Germany. This concerted effort has significantly bolstered the adoption of advanced microfluid initiatives within the diagnostic sector, driving the German market growth. Moreover, the establishment of a greater number of education and training centers catering to the next generation of research and biomedical engineers further contributes to the market's expansion by nurturing a skilled workforce adept at harnessing microfluidic technologies.

The UK microfluidics market had a notable share of the European market in 2023 and is estimated to grow at a healthy CAGR during the forecast period due to the growing number of clinical trial centers and a surge in skilled professionals specializing in microfluidics testing.

KEY MARKET PLAYERS:

Companies such as Parker-Hannifin Corporation, SMC Corporation, Idex Corporation, Fluigent SA, Dolomite Microfluidics, Aignep S.P.A., Camozzi Automation Spa Società Unipersonale, Elveflow, Cellix Ltd., Fortive Corporation, Danaher Corporation, Thermo Fisher Scientific Inc., Perkinelmer, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson And Company, Illumina, Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation and Abbott Laboratories are expected to play a leading role in the EU microfluidics market.