The results of droplet formation modeling in a microfluidic device based on the force balance method are described in the paper. The Navier-Stokes and continuity equations in an axisymmetric formulation were used to describe the hydrodynamic situation in a liquid film between a growing droplet and a channel wall. Shear stresses, pressure gradient along the droplet, as well as interfacial tension forces were included in the force balance. The obtained results allow to analyze the influence of phase flow rates and the properties of both phases on the flow regimes boundaries. It is shown that the continuous phase flow rate significantly determines the hydrodynamic situation both in the formed droplet of the dispersed phase and in the continuous phase film. On the other hand, the effect of the dispersed phase viscosity on the position of the flow regimes boundaries is much stronger than the viscosity of the continuous phase.