| Abstract |
Fluidigm is a life science company that develops and distributes instruments, chips and reagents primarily for genomic
analysis. The company owns a disruptive and scalable integrated fluidic circuit technology. This technology enables the
execution of thousands of experiments in parallel in nanoliter volumes, and facilitates implementation of experiments
with a complex design. The company’s products can be used for a number of applications, such as: gene expression,
genotyping, digital PCR (dPCR), single cell genomics, next generation sequencing (NGS) sample preparation and protein
crystallization.
In this report, we review Fluidigm’s historical financial performance, and forecast Fluidigm’s product revenues (2012E-
2015F) by platform (BioMark / BioMark HD, EP1, Access array, C1 single cell AutoPrep system [to be launched] and
TOPAZ). Overall, we believe the company will grow at >25% p.a. until 2015 and reach revenues in excess of $100M.
The majority of this growth is expected to be driven by continued placement of BioMark systems, especially for single-
cell analysis. By the end of 2011, the company reported that >80 BioMark systems were being used for single-cell
analysis. We expect this number to grow to 250-300 instruments by 2015.
In addition, this report provides an overview of the genomics and molecular diagnostics (MDx) spaces in which Fluidigm
participates. We review the market growth and trends of both genomics and MDx by technology. The WW genomics
market was estimated at ~$6.8B in 2011, and forecasted to grow at ~6% p.a. Fluidigm focuses on sub-segments of this
market, at a specific throughput and plex-level. In addition, Fluidigm addresses three segments within this market: NGS
sample preparation, single cell genomics and dPCR. We estimate the current (2011) and future (2015) market size for
each of these niche segments.
We also provide an overview of the competitive landscape, with a key focus on dPCR, for which we provide a profile of 7
key competitors.
This report is based on an extensive review of Fluidigm’s filings, publications and earning calls. In addition, we
supplemented our analysis with an interview campaign of ~18 users and non-users of various Fluidigm platforms. This
information is compiled into a SWOT analysis presented at the end of the report. |
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| Table of Contents |
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| Keywords |
| fluidigm due diligence, fluidigm market opportunities, fluidigm market analysis, fluidigm markets outlook, single-cell genomics, single cell analysis, dPCR, digital PCR, BioMark, EP1, Access Array, C1 |
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| Related reports |
| Molecular Dx: Market Size, Segmentation, Growth and Opportunities (4th edition) |
| Life Sciences Research Tools Market |
| Next Generation Sequencing: Market Size, Segmentation, Growth and Trends by Provider |
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