Market Trends of Fluidics for Preclinical Industry
Software and Accessories Segment is Expected to Witness Significant Growth Over the Forecast Period
The software and accessories segment is anticipated to fuel the growth of fluidics for the pre-clinical market over the forecast period owing to factors such as the rising incidence of chronic disorders, such as cancer, cardiovascular diseases, and others, raising the demand for point of care, high-throughput screening methodologies, low-volume sample analysis, in-vitro diagnostics, and the development of novel technologies.
The utilization of new software and artificial intelligence (AI)-driven solutions to facilitate pre-clinical drug development is increasing in the pharmaceutical industry. For instance, according to an article published in Drug Discovery in April 2022, it has been observed that AI-driven target discovery systems can extract and synthesize target-relevant information from a large volume of complex, diverse multi-omics data to better understand target biology, reveal disease relationships, and find targets. Thus, the inclusion of such techniques in pre-clinical research provides useful criteria for ligandability assessment and prioritization of drug targets for development. This is expected to increase its adoption, thereby contributing to segment growth.
The growing company activities in developing novel software and accessories are expected to fuel the segment's growth over the forecast period. For instance, in June 2021, Sphere Fluidics and ClexBio launched a biocompatible CYTRIX Microfluidic Hydrogel kit, designed with Pico-Gen double aqueous biochip that enables defined reproducible and tailorable hydrogel microstructures for 3D cell culture, organoids, and single-cell analysis. The kit allows researchers to study valuable cells over many weeks rather than days in defined microenvironments that mimic the natural extracellular matrix.
Therefore, due to the aforementioned factors, such as increasing research and development for drugs and the launch of products, the studied market segment is expected to project growth over the forecast period.
North America is Expected to Have the Significant Market Share Over the Forecast Period
North America is expected to hold the major share in the fluidics for the pre-clinical market over the forecast period owing to factors such as the well-established healthcare system and the increasing number of pre-clinical researchers due to the higher adoption of novel therapeutics among the general population, increasing prevalence of chronic diseases in the region.
The increasing prevalence and incidence of chronic diseases such as cancer, cardiac, and others among the population is the key factor driving the demand for effective therapeutics, which in turn is anticipated to increase the pre-clinical research. This fuels the growth of the fluidics market over the forecast period. For instance, as per 2023 statistics published by ACS, about 1,958,310 new cancer cases are expected to be diagnosed in the United States in 2023. Also, as per 2022 statistics published by IDF, about 32.2 million, 14.1 million, and 2.9 million people were suffering from diabetes in the United States, Mexico, and Canada, respectively, in 2021, and this number is projected to reach 36.2 million, 21.1 million, and 3.4 million by 2045, respectively.
Furthermore, the rising new product launches and establishing new research facilities in the region are expected to fuel market growth over the forecast period. For instance, in November 2021, the University of Toronto and the National Research Council of Canada (NRC) collaborated to establish the Centre for Research and Applications in Fluidic Technologies (CRAFT), a new research facility at the university's St. George campus. The center's mission is to advance the fabrication of micro- and nanofluidic devices as well as to rapidly produce and deploy polymer-based biomedical microdevices, such as organ-on-a-chip models of heart tissues and handheld 3D skin printers. Also, in June 2021, Fluid Metering launched the new FVD series of variable dispense pumps, a compact, low-profile design that addresses the requirements of microfluidics while doubling the lifecycle of current technology available on the market.
Therefore, owing to the aforementioned factors, such as the high burden of chronic diseases, growing government initiatives to support clinical research and new product launches, the studied market is expected to grow over the forecast period.
