The
global microfluidics market is projected to reach USD 27.91 billion by 2023
from USD 10.06 billion in 2018, at a CAGR of 22.6%. The microfluidics industry
is booming market with regional and multinational market players. Danaher (US),
Thermo Fisher (US), and Agilent (US) are some of the major players providing
microfluidics equipment, while Dolomite Microfluidics (UK) is the provider of
microfluidics components.
Danaher (US) is one of the leading
players in the microfluidics market. Danaher designs, manufactures, and markets
medical, industrial, and commercial products and services. The company operates
in the microfluidics market through its subsidiaries such as Cepheid (US)
Beckman Coulter, Inc. (US), AB Sciex LLC (US), and Molecular Devices, LLC (US).
The company provides a diversified and strong product portfolio of equipment
and medical devices integrated with microfluidics technologies. The company
continuously focuses on R&D activities with growing investments in product
development which is evident from the rising R&D expenditure of the company
from USD 861.4 million in 2015 to USD 1,128.8 million in 2017. Moreover, the
company has strategically enhanced its presence in the global microfluidics
market by pursuing a number of inorganic and organic growth strategies such as
acquisitions. For instance, in November 2016, the company acquired Cepheid Inc.
(US), a leading and innovative global molecular diagnostics company, thus
strengthening Danaher’s portfolio with its GeneXpert systems.
Bio-Rad (US) serves life sciences
research and clinical diagnostics customers worldwide through its global
network of operations. The Life Sciences segment develops, manufactures, and
markets more than 5,000 reagents, apparatus, and laboratory instruments,
globally. The company provides microfluidic solutions under the Life Sciences
segment. The company also has a wide geographical presence with direct
distribution channels in more than 30 countries, which enables it to maintain a
strong customer base. Bio-Rad has manufacturing and R&D facilities in the
US, France, China, Germany, Singapore, Belgium, and Switzerland. The company
pursues the strategies of acquisition to strengthen its presence in the
microfluidics market. It also aims at introducing technologically advanced
products to cater to the changing customer needs. In 2017, Bio-Rad acquired
RainDance Technologies (US), a developer of microfluidic-based PCR systems.
This enabled Bio-Rad to offer technologically advanced microfluidic equipment to
its customers and strengthen its existing portfolio.
Agilent (US) is a global player in
the life sciences market with a wide geographical presence across North
America, Asia Pacific, and Europe. The company is well-positioned in the microfluidics
market and focuses on developing innovative diagnostic and research equipment
to combat the rise in infectious diseases and cancer. In accordance with this,
the company established a strong network of research organizations including
government research centers and top-tier universities. It has its research
centers based in Santa Clara and California (US), with offices in Europe and
Asia. Agilent generated about 70% of its revenues outside the US. Thus, the
diversified geographic presence offers the company more avenues for attaining
significant revenue growth.
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