Diversification of microfluidic technologies has led to burgeoning new applications and market growth, driving players’ interest and M&A.
- Updated 2017 – 2024 market data and forecasts (in $US and units) for microfluidic devices and products, along with material mix analysis
- Evolution and estimated 2018 microfluidic players’ market share at fab level and end-product level
- Breakdown of the latest industry moves (M&A, fundraising), market and technology trends and evolutions, and potential acquisition targets
- Updated information, by microfluidic market segment
- Review of new, promising applications for microfluidic technologies (including a focus on biotechnology applications)
- Comprehensive supply chain analysis
Key features of the report
- Provide a global view of the future for microfluidic devices and products
- Establish an understanding of every microfluidics application, with an overview of the main players per application
- Analyze microfluidic players’ dynamics and ranking, and understand the latest industry trends, strategic moves, and business models’ evolutions
- Furnish 2017 and 2018 market data for microfluidic products and devices, along with 2019 – 2024 forecasts in units and $US
- Explore technology, materials, and manufacturing trends
- Explain how the supply chain is organized and how value is distributed across it
Table of Content
Glossary and definitions 2
Table of contents 3
Report objectives 5
Report scope 6
Report methodology 7
About the authors 8
Companies cited in this report 9
What we got right, What we got wrong 10
Who should be interested by this report 11
Yole Group related reports 12
Executive Summary 15
- Definition – our vision of microfluidics
- Microfluidics – advantages and drawbacks
- Our vision of the microfluidics market
- Examples of applications that use microfluidic products
- Why are microfluidic solutions used?
- Microfluidic applications – definitions
Market forecasts 62
- Market segmentation
- Market forecasts for microfluidic products and devices (units and value)
- Segment dynamics (CAGR vs. Segment size)
- How the value is spread across the supply chain
- What we got right/wrong and why
- Material mix analysis
Market trends 87
- An increasing on-chip complexity for ever more integration and automation
- Razor and razor-blade business model
- A myriad of microfluidic players
- In-house vs. Outsourced production
- The lure of high-volume microfluidic device production
- Reaching commercial success is not an easy path
- Addressing other markets before human diagnostics, a wrong good idea?
- Road to market: comparison of applications
- Distribution networks are key for success
- Examples of distribution agreements
- A limited market for the fabs
- Is the key to success out of point-of-care?
- The market growth paradox!
- Reasons why companies choose to internalize production
- The barriers of in-house production
- Why don’t large companies work (much) with the fabs?
- A fight to acquire value
- Significant new entrants
- Towards standardized cartridge footprints?
- Having a fixed design and a secured supply chain is mandatory
- Combining the development of instrument and consumable
- Importance of multiplexing and wide assay menu
- The development of « open platform » business models
- Standardization of microfluidic devices: setting-up an ISO norm
- Success of Microfluidic technologies – Dream or reality?
- Financial analysis of publicly listed companies
Microfluidic segments description 139
- Clinical and veterinary testing
- Point-of-care testing
- Industrial, environmental, and agro-food testing
- Pharmaceutical and life science research
- Micro-reaction and flow chemistry
- Analytical devices
- Drug delivery
- Accurate dispensing
- Flow control components and modules
- Emerging applications
Focus: Microfluidic technologies for biotech applications 203
- Single-cell isolation and analysis
- Cell line development
- Gene editing and therapeutics
- Supply chain and business models
Market shares & supply chain 266
- Different models for different volumes
- Microfluidic integrators, per material
- Microfluidic integrators: 2018 market share
- Main mergers and acquisitions since 2017 + analysis
- Fundraising since 2017 + analysis
- Microfluidic fabs: overview, geographical location, materials, ranking
- Other levels of the supply chain (design houses, prototyping houses, materials providers, etc.)
- Analysis of recent acquisitions of microfluidic fabs
- Who’s working with who?
Technology trends 341
- Materials & hybrid integration
- Manufacturing processes comparison
- Reshaping processes
- Subtractive processes
- 3D printing
- Combination of manufacturing expertise
- Cost analysis: cost of goods, yield, split across the manufacturing process, contribution of the device in the final product selling price, gross margin analysis
- Detection methods + focus on acoustic detection methods
- Integration of complex sample prep steps
- Multiplexing: high-plex vs. low-plex
- Smartphone-based diagnostic products
- Mixing technologies
Yole Corporate Presentation 380
MICROFLUIDICS APPLICATIONS ARE GREATLY DIVERSIFYING, CREATING NEW OPPORTUNITIES
The first commercially-available lab-on-achip devices are now more than 20 years old. Microfluidic device complexity has increased ever since, leading to extremely sophisticated cartridges performing automated, complex sample preparation steps. Microfluidics is now a mature technology, and today the identified number of companies developing microfluidicbased solutions worldwide far surpasses a thousand (including myriad opportunistic startups), and the applications are end-less. As a consequence, Yole Développement’s (Yole) analysts estimate that the microfluidic products market reached $8.7B in 2018, and will grow at a CAGR2019-2024 of 11.7%, reaching $17.4B. The two principal applications are still point-of-care (PoC) testing and pharmaceutical/ life science research (including sequencing, genomics, and proteomics). However, the dynamics per application are evolving. While PoC devices are increasing in complexity and integrating more and more hybrid materials (i.e. glass + polymer, or silicon + polymer in order to offer additional functions), we also see high-end applications increasingly using polymer when possible, in order to decrease costs. Glass and silicon have a large share in these applications, especially in sequencing, but these semiconductor materials are increasingly integrated at the heart of complex plastic cartridges. This is also the case in drug delivery – even though most devices are made of glass and silicon today, we may soon observe the entry of polymer devices. Overall, thanks to increased commercial adoption, all three materials are growing nicely. In this report, Yole’s analysts present 2017 – 2024 market data and forecasts per application, with a detailed material mix analysis.
THE ACQUISITION WAVE CONTINUES, LEADING TO AN IMPRESSIVELY RAPID STRUCTURATION
For the last decade, PoC has been considered microfluidics’ greatest promise, with the potential for rapid-testing cartridges to reach millions of units per year. Nonetheless, the mass production of such devices is still far from being widespread, and companies now realize that the barriers are high on the road to success. Just having a good technology is not enough: financial strength, supply chain security, regulatory, and market access are also mandatory. In particular, numerous companies struggle to reach the next step because of a weak commercial network. Thus, acquisition by a larger company is often a good way to gain access to an established distribution network and improved logistics support. BioFire (bioMérieux), IQuum (Roche), and Cepheid (Danaher) are good examples of technologies that have literally taken off after acquisition, and we will see in the coming years whether recentlyacquired companies like GenePOC (Meridian Biosciences) and Abaxis (Zoetis) mimic these successes. Overall, large diagnostic companies have acquired numerous promising or successful microfluidic technologies through the purchase of small and medium-size companies, to the extent that a group of around 15 players now represents more than 75% of the market. This is an impressive concentration, especially given the variety of applications. Contrarily, hundreds of start-ups with low revenue struggle to reach commercial success for the reasons mentioned above. In-between, we find around 50 players with $10M – 100M in microfluidics revenue, mostly start-ups that have accessed the next steps and are now likely acquisition targets.
At another supply chain level, we observe an impressive structuration. Indeed, the microfluidic device manufacturers (“fabs”) have experienced a strong wave of acquisitions by larger players since 2015 – the latest being MiniFAB in June 2019. Such larger players thus acquire their own production facilities and aim to produce for larger customers from the diagnostics and life sciences fields, which fabs today struggle to address. Overall, after the recent acquisitions, the only remaining established microfluidic fabs above $10M in revenue and still independent are Micronit and Microfluidic ChipShop. Last but not least, over the past two years several large companies (leaders in other technology fields) have decided to enter or strengthen their position in the microfluidics market: this is the case for Technicolor, Qorvo Biotechnologies, and Schott. Such decisions exemplify the attractiveness of this dynamic field, which presents a viable opportunity for these companies to find new growth areas. They will soon be followed by others – in fact, we are aware of several players that are preparing to enter the microfluidics field, at diverse levels of the supply chain!
MICROFLUIDIC TECHNOLOGIES ARE PENETRATING VARIOUS FLOURISHING APPLICATIONS, WHERE THE CHALLENGES ARE BIG BUT THE POTENTIAL IS SIGNIFICANT
Emerging applications, in particular within the biotechnology field, can benefit from the improvement of microfluidic technologies which represent valuable tools for complex operations. Today, academics and researchers are the main users of such technologies in biotech, but we have begun seeing an increased adoption from pharmaceutical companies, Contract Research Organizations (CRO), and industrial biotech companies: for example, cell line development, single-cell isolation/analysis, as well as cell-gene therapies and gene editing, are all applications where microfluidics have a role to play. In particular, microfluidics is receiving enthusiastic response from single-cell isolation, where there are already several successful commercialized technologies. The other applications mentioned above are steadily emerging, and it is time for innovative microfluidic companies to take the opportunity to solve the issues linked to integration, automation, throughput increase, etc. Indeed, most solutions used today are expensive and low-throughput, and thus prone to human error due to manual operations. In this report, Yole’s analysts describe the challenges these fields face and how microfluidic technologies, for example droplet microfluidics, can address the bottlenecks and forge new possibilities.
3M, 10X Genomics, Abaxis (Zoetis), Abbott, Alere (Abbott), Achira Labs, Affymetrix (Thermo Fisher Scientific), AGC, Agilent Technologies, Akatsuki Tech, Akonni Biosystems, Allevi, ALine, Alveo Technologies, Angle plc, Applied Microarrays, Araymond Life, Arrayit, Arrayjet, Ativa Medical, Atlas Genetics (binx health), AutoGenomics (Prescient Medicine), AxoSim, Axxicon, Axxin, Balda AG (Stevanato Group), Base4 Innovation, BD, BGI, binx health, Biocartis, Biocept, BioFire Diagnostics (bioMérieux), BioFluidica, Biolidics, Bionano Genomics, Bio-Rad, BioSensia (Kypha), Biosurfit, BOE, Boehringer Ingelheim, Boehringer Ingelheim microParts, Bosch Vivalytic (Bosch Healthcare), Bronkhorst, Caliper Life Sciences (PerkinElmer), Cambridge Consultants, CapitalBio Corporation, Capsum, Carville, CBio, CDA, Cellenion (Scienion), Celsee Diagnostics, Centrillion Technologies, Cepheid (Danaher), CG.TEC Injection, Chemtrix, CiDRA Precision Services (IDEX), CombiMatrix (Invitae), Corium, Corning, CorSolutions, Curetis, Cygnus Biosciences, Cytena, Cytosurge, Daktari Diagnostics, DARPA, Debiotech, Denz Bio-Medical, Dianax, DiaSorin Molecular, DNAe, Dolomite (Syrris), Eksigent, Elveflow (Elvesys), Emulate, Enplas, Epigem, Epicore Biosystems, ExcitePCR, Fast Radius, FlexoSense, FlowJem, Fluidic Analytics, Fluidigm, Fluigent, Fluxion Biosciences, Focus Diagnostics (DiaSorin Molcular), Formulatrix (Qiagen), GenapSys, GenePOC (Meridian Biosciences), GeneSystems (Pall), GenMark Diagnostics, Gradientech, Great Basin Scientific (Vela Diagnostics), Gyros Protein Technologies, Helvoet, Hemocue (Radiometer, Danaher), Hesperos, HifiBio, IDEX Health & Science, Illumina, imec, IMTAG (Heidenhain), IMT MEMS, Inanovate, Instant Labs (Luminultra), Instrumentation Laboratory (Werfen), Intabio, IntegenX (Thermo Fisher Scientific), Invenios (Corning), Invetech, InziGn, Ion Torrent (Thermo Fisher Scientific), IQuum (Roche), Klearia, Kloé, KURZ, LabCyte (Beckman Coulter), LexaGene, LioniX International (Magic Micro), Little Things Factory, (Plan Optik), L’Oréal, Luminex Corporation, MakeFluidics, MBio, MedSpray, MeMed, Menarini Silicon Biosystems, Mesa Biotech, MGI (BGI), Micralyne, MicroDrop Technologies, Microfluidic ChipShop, MicroLiquid, Micronit, Microsaic Systems, MilliDrop, Mimetas, Minicare, MiniFAB (Schott), Mission Bio, Mobidiag, Mobinostics (Boehringer Ingelheim), Nabsys, Namocell, NanoCellect Biomedical, NanoEntek, Nanomix, Nanopass, Nanoscribe, NanoString Technologies, NASA, Natech Plastics, NeuMoDx (Qiagen), Nokia, Nypro (Jabil), Omniome, Ontera, OPKO Diagnostics, Oxford Nanopore Technologies, Pacific Biosciences, Parallex Bioassays, PathogenDx, PharmaFluidics, Phase Three Product Development, Philips Innovation Services, POC Medical Systems, Precision Nanosystems, Qiagen, Qorvo, Qorvo Biotechnologies, Quantapore, Quanterix, Quantum Biosystems, QuantuMDx, Quidel, Qvella Corporation, RAB-Microfluidics, RainDance Technologies (Bio-Rad), RedBud Labs, Redshift Bioanalytics, Rheonix, Roche Diagnostics, Rogue Valley Microdevices, Roswell Biotechnologies, rqmicro, Samplix, Samsung, Sandstone Diagnostics, Sanwa Biotech, SawDx, Schlumberger, Schott, Schott Nexterion, Scienion, Sciex, Sensera, Shimadzu, Siemens, Sight Diagnostics, Silex Microsystems, SMB (Zoetis), Sophion Bioscience, Sphere Fluidics, Spinchip Diagnostics, SpinDiag, Stat-Dx (Qiagen), Stilla Technologies, STMicroelectronics, Stratec, Surfix (LioniX), Symbient Product Development,T2 Biosystems, Talis Biomedical, TearLab, Tecan, Technicolor, Technicolor Precision BioDevices, Tecnisco, Teledyne Dalsa, thinXXS (IDEX), Toolbox Medical Innovations, Translume, Trilobite, Trinean (Unchained Labs), Tronics Microsystems, TSMC, TTP Group, Two Pore Guys (Ontera), uFluidix, Universal Sequencing Technology, Varioptic (Invenios, Corning), Vaxxas, Velabs, Veredus Laboratories, Vortex Biosciences, WaferGen Biosystems (Takara Bio), Waters, Weidmann Plastics, Wi, Zimmer & Peacock, z-microsystems, Zoetis, Zomedica Pharmaceuticals, and more.