A recent report by Markets and Markets cited in an article by The Health Star shows aggressive microfluidics product market growth predictions that exceed previous strong predictions from other research enterprises.
Markets and Markets put the 2017 market value at $8.28 B USD with a compound annual growth rate (CAGR) of 22.6% forecasted until 2023. Other research firms, however, have lower estimates of both the current market as well growth predictions for similar time spans. Yole Dévelopment’s 2017 report, for example, estimated the 2016 market to be ~$2.1 B USD, and projected a CAGR of 18% out to 2022. A 2017 report by Transparency Market Research put the 2016 market at $4.76 B USD and CAGR at 11.4% through 2025. Future Market Insights’ 2017 report on the point-of-care (PoC) segment of the microfluidics market, the largest segment in their view, estimates this segment to have been $1.0 B USD in 2016, and to grow at a 14.5% CAGR until 2026.
The reason for the large differences between Markets and Markets’ estimates and those of others – roughly, 2-4x larger market values and 1.25-2x larger CAGRs – is not clear, but may be due to definition of the market scope, i.e. what products are considered “microfluidic”.