Four main studies were done to estimate the market size of microfluidics. Secondary research was carried out to obtain data associated with the market, peer markets, and parent markets. After that, data was obtained from 3-5 secondary sources; the findings, assumptions, and sizing were confirmed through primary sources. Top-down and bottom-up approaches were utilized to gain insights on complete market size. After that, market breakdown and data triangulation were used to determine the market size of segments and subsegments.
Secondary Research
Directories, databases like D&B Hoovers, Factiva, white papers, Bloomberg Businessweek, annual reports, SEC filings, business filings and investor presentations are few of the important sources used in the secondary research. This helps in gaining fundamental details about prominent companies and market segmentation as per the industry trends at numerous levels and technological viewpoints related with the Microfluidics market.
Primary Research
The primary research compromised performing interviews from both the supply and demand sides to obtain quantitative and qualitative data. CEOs, area sales managers, territory sales managers, regional sales managers and other important officials from top businesses are the primary sources from the supply side. Physicians, researchers, department heads, and staff members from diagnostic centers, hospitals and research institutes were the primary sources from the demand side. The target of this study was to verify the conclusions and assumptions from secondary research by interacting with stakeholders directly.
A breakdown of the primary respondents is provided below:
*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = >USD 1 billion, Tier 2 = < USD 500 million, and Tier 3 = < USD 100 million.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The revenue share analysis of the major key players for the size of the Microfluidics market is given in this study. Primary and secondary research are used to find prominent players in the Microfluidics and to gain insights of their financials and market share. The primary research approach comprises extremely in-depth interviews with CEOs, directors, and senior marketing executives, while the secondary research procedure mostly relied on the annual and financial reports of major players. Segment-based technique was used to determine the global market value. The revenue details of significant solution and service suppliers was then applied to source these segmented revenues.
The steps in the procedure are
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List the key global companies that are associated with the Microfluidics industry. Note the annual revenues of the players in the Microfluidics industry or the product category/business division.
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As of 2024, it represents an important portion of the market based on revenue mapping of the key competitors. Extrapolation to the global value for the Microfluidics market.
Data Triangulation
The Microfluidics market was categorized into various segments and subsegments with the help of the above procedure. Then, data triangulation and the market segmentation process are carried out to ensure the accuracy of the data for each segment. Factors and trends from demand and supply sides were studied . Top-down and bottom-up approaches provide the outcome from the analysis of the Microfluidics market.
Market Definition
The microfluidics market includes products and technologies that are developed to analyse and regulate fluid volume through microfluidic devices and components. The market covers both the microfluidics components that are important for the working of microfluidics-based devices, such as lab-on-a-chip systems and diagnostic assays, as well as the devices. Microneedles, micropumps, flow and pressure sensors, controllers, and microfluidic valves are some of the important components of microfluidics-based device.Polymers, silicon, and glass are most often used in the development of these components. The market provides innovative technologies for effective and precise fluid management and analysis, which have beneficial applications in research and diagnostics.
Stakeholders
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Microfluidic product manufacturers
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Microfluidic product distributors
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Pharmaceutical companies
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IVD manufacturers
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In vitro diagnostic test (IVD) distributors
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Research institutes
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Contract manufacturing organizations (CMOs)
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Contract research organizations (CROs)
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Healthcare institutions (hospitals, medical schools, and outpatient clinics)
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Government associations
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Market research and consulting firms
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Venture capitalists and investors
Report Objectives
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To define, describe, and forecast the microfluidics market by product, application, end-user, and region
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To provide detailed information about the key factors influencing the market growth, such as drivers, restraints, opportunities, challenges, and industry trends
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To strategically analyze the regulatory scenario, Porter’s five force analysis, value chain analysis, supply chain analysis, ecosystem map, and patent analysis
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To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the microfluidics market
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To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
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To profile the prominent players in this market and comprehensively analyze their market shares and core competencies
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To strategically analyze the microfluidics market in five regions: North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa
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To track and analyze competitive developments such as acquisitions, product launches, product approvals, partnerships, and expansions in the microfluidics market
HIGHEST CAGR MARKET IN 2024
Farrah
May, 2022
Which material segment led the global microfluidics market?.
Kahlill
May, 2022
Which application accounted for the largest microfluidics market share?.
Alex
Nov, 2022
Which technology accounted for the highest share in the microfluidics market?.
James
Nov, 2022
What is the global microfluidics market's expected compound annual growth rate during the forecast period of 2022-2030?.
Philip
Mar, 2022
Which are the key challenges faced by global players of the Microfluidics Market?.