Ventilators Market by Size, Share, Forecasts, & Trends Analysis

The Microfluidic Immunoassay Market is anticipated to achieve a value of $1.47 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.4% during the forecast period, according to Meticulous Research®. Microfluidic immunoassays utilize lab-on-chip microfluidic platforms for diagnostic and research applications, prominently in point-of-care testing. These platforms are instrumental in detecting biomarkers across various fields such as cardiology, oncology, infectious diseases, and diabetes.
The market's expansion is propelled by the increasing adoption of microfluidic immunoassays in drug discovery, biomarker detection, and the advantages they offer over conventional methods. Moreover, pharmaceutical and biotechnology firms are intensifying their focus on research and development, bolstering market growth. However, challenges like bubble formation and dead volume in microfluidic devices impede market progress.
Opportunities abound with the rising demand for point-of-care diagnostics and ongoing technological advancements in microfluidic immunoassay technologies. Yet, hurdles persist, such as selecting suitable substrate materials for microfluidic chip design and managing product design and cost constraints in developing economies.
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