Illumina vs. Danaher: who will take the pole position of the microfluidics industry?
Driven by a growing demand for precise and preventive diagnostic solutions, the market is expecting to reach more than US$20 billion in 2028
- The microfluidic module market was worth US$18.08 billion in 2022 and is expected to reach 2.2% CAGR between 2022 and 2028.
- In the past two years, revenue is leading to the development of new technologies and panels and an expansion in instrument and production capacity.
- Danaher, Illumina, bioMérieux, Abbott, Thermo Fisher Scientific… almost 91% of the microfluidic market is held by ten players.
- Microfluidics has expansive potential in diagnostic applications and beyond.
According to Yole Intelligence, part of Yole Group, in the Status of the Microfluidics Industry 2023 report, following a remarkable two-year period of expansion, the microfluidics modules market is projected to attain a value of US$20.6 billion by 2028, rising from US$18.08 billion in 2022. The market growth is expected to slow down, primarily attributed to the declining demand for diagnostic tests, leading to a CAGR of 2.2% between 2022 and 2028.
Clyde Midelet, Ph.D., Technology & Market Analyst, Sensing and Actuating at Yole Intelligence“Precise, quick, and affordable testing methods for infectious diseases are now well established. Throughout the COVID-19 pandemic crisis, there was an increase in demand for tests, particularly PCR and immunoassays, which are now considered the gold standards. As a result, revenue in the microfluidics industry rose significantly, leading to the development of new technologies, new assay menus, the increase of installed bases, and an expansion in production capacity.”
These trends persisted into early 2022. However, during the last two quarters of that year, the diagnostics industry experienced a substantial slowdown. This can be attributed to the stabilization of the sanitary crisis due to the widespread administration of vaccines and the implementation of preventative measures such as quarantine, mask-wearing, and the use of rapid diagnostics tests.
In this context, Yole Intelligence releases its brand-new Sensing & Actuating Report, Status of the Microfluidics Industry 2023. With this report, the company, part of Yole Group, aims to provide a complete analysis of microfluidic component/module applications, markets, and technologies.
Titre du visueljune 2021
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Almost 91% of the microfluidics market (by value) is held by ten players. This market is led by big diagnostics companies specializing in various biological tests, such as molecular, chemistry & electrolytes, and cytometry/hematology.
“In the market rankings since 2019, Illumina has maintained its leading position,” explains Clyde Midelet. “However, in 2022, Danaher outperformed, overtaking Illumina. This growth can be attributed to the impressive dynamic of Cepheid part of Danaher in the diagnostics market, especially in respiratory testing”.
bioMérieux, Abbott, Roche Diagnostics, Becton Dickinson, 10X Genomics, Siemens Healthineers, and Agilent technologies had broadly the same flat growth in terms of microfluidic modules revenue, developing all their own modules to be used in instruments already available (e.g., BioMérieux – BioFire) or by acquiring technology from another company ( e.g., Roche- GenMark Dx).
Grants provided by national organizations experienced a significant decline in 2022, reflecting the transition of the COVID-19 situation from a pandemic to an endemic state. However, companies specializing in NGS, cell analysis, and diagnostic applications raised substantial amounts of funds. MGI emerged as the top fundraiser of the year, raising an impressive US$522 million.
Also, one significant M&A was observed between Quidel and Ortho Clinical Diagnostics – a large in vitro diagnostics company. The combined organization will expand access to clinical chemistry, immunoassays, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics offerings.
The market is still very open and structured around big players. The pandemic crisis enabled big players to accumulate vast amounts of cash flow and should profit from the merger and acquisitions of new companies.
Companies that recently pop-up face a critical decision: should they expand their assay menus and fundamentally transform their approach to healthcare management, or should they consider the option of being acquired by a larger player? In that way, many companies have already started restructuring strategies and refocusing on expanding their portfolios.
Yole Intelligence’s sensing & actuating team invites you to follow the technologies, related devices, applications, and markets on www.yolegroup.com.
In this regard, do not miss Clyde Midelet’s presentation’s replay: “The Evolving Landscape of Microfluidics: Market Overview and Latest Trends” here.
- PCR : Polymerase Chain Reaction