Microplate Systems Market
Microplate Systems Market Analysis by Product (Microplate Readers, Microplate Pipetting Systems & Dispensers, Microplate Washers), by End User, by Region - Global Forecast 2022-2026
Market Outlook of Microplate Systems
Worldwide sales of microplate systems are valued at US$ 922.3 million in 2022. The global microplate systems market is projected to register 4.5% CAGR to reach a valuation of US$ 1.1 billion by the end of 2026.
Demand for microplate readers is expected to increase at a higher 5.2% CAGR from 2022 to 2026. Rising incidence of several diseases, increased focus on drug discovery, and surging R&D investments by drug manufacturers are all driving demand for microplate readers.
Microplate Systems Market Size (2022)
US$ 922.3 Million
Projected Year Value (2026)
US$ 1.1 Billion
Global Market Growth Rate (2022-2026)
The U.S. Market Share (2022)
Key Companies Profiled
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Sales Analysis of Microplate Systems from 2017-2021 Vs Market Outlook for 2022-2026
“Rising Prevalence of Chronic Diseases to Boost Worldwide Market Revenue”
As per Fact.MR, a market research and competitive intelligence provider, the global microplate systems market was valued at US$ 883 million in 2021.
A microplate system is scientific equipment that is used in experimental and research settings to uncover physical, biological, and chemical process responses. Microplate systems are very useful for analyzing biological reactions, gene expression reactions, and protein measurement. They're used in scientific services such as medicine development, the treatment of fermented foods, wastewater treatment, and environmental monitoring.
Microplate systems are in high demand due to the growing popularity of automated biochemical and cell-based tests among biotech companies. The integration of these systems with other microplate automation technology in healthcare in a variety of developing and developed countries is constantly broadening the global market landscape.
Increased financing for laboratories, rising R&D investments in the pharmaceutical industry, increased laboratory testing, and the growing incidence of chronic diseases are driving the market growth.
These growth trends are expected to drive the global microplate systems market at a 4.5% CAGR from 2022 to 2026.
Which Key Aspects are Bolstering Demand Growth of Microplate Systems?
“Continuous Innovations in Microplate Equipment to Boost Industry Growth”
Microplate systems have evolved during the last 60 years as well. Researchers are constantly attempting to improve the technology utilized in microplates, resulting in improved products on the market.
Recent technological advancements have made it possible to integrate an interactive user interface that can collect data from microplate systems. Fluorescence, luminescence, and absorbance are used to operate these devices, which are usually automatic or semi-automatic.
In comparison to traditional procedures, new investments and advances in microplate systems can produce data that is both dependable and versatile. Microplate systems are also easier to operate than their classic equivalents due to their automation. An assay detection system, for example, is available in microplate format, which reduces space. As a result, several assays can be carried out on the same equipment.
In the microplate systems market, the pharmaceutical and biotechnology industries are two of the most important end customers. Microplate systems are widely used in current drug discovery and development, as well as genomic and proteomic research, because they improve test speed and accuracy, allowing researchers to focus on more important tasks
Which Market Barriers are Restraining Consumption of Microplate Systems?
“High Cost of Microplate Instruments & Lack of Qualified Staff Hampering Market Growth”
The global microplate systems market is anticipated to be restrained by rising costs of technologically advanced microplate devices, a lack of understanding about the advent of new innovative features in microplate systems, and a dearth of skilled professionals.
Why is North America a Leading Market for Microplate Systems?
“Government Initiatives for Cell-based Research to Boost Industry Expansion in North America”
The market in North America is expected to increase significantly over the coming years. Government incentives for cell-based research and the growing acceptance of customized medicine can both be credited for a considerable share in North America.
Increased academic and government funding in diagnostic research, as well as a greater focus on drug discovery and development, are driving the market growth in the region.
How Lucrative is the U.S. Microplate Systems Market?
“Rapid Deployment of Innovative Techniques Boosting Market Value”
The U.S. microplate systems market is valued at US$ 366.8 million in 2022.
The U.S. currently holds 37.66% share in the global market. The presence of prominent players, the rise in drug research, and laboratories implementing novel technologies are driving the demand for advanced microplate products.
Other factors driving market expansion include a developed healthcare system, rapid adoption of innovative techniques, improved healthcare infrastructure supported by government policies, and considerable government financing for laboratories.
Will China Emerge as an Attractive Market for Microplate System Manufacturers?
“Rising R&D Expenditure by Pharmaceutical Companies Driving Market Growth”
The market in China is expected to reach a valuation of US$ 160.7 million by 2026, representing 8.2% CAGR from 2022 to 2026.
Rising health and hygiene awareness, growing R&D expenditure by pharmaceutical companies, advancements in manufacturing operations, and an increase in the aging population is driving market growth in China.
Which Microplate Device is Gaining Immense Popularity?
“Readers Gaining Traction Owing to Their Cost-effective Benefits”
Demand for readers are projected to rise at a 5.2% CAGR to reach US$ 708.9 million by 2026. Microplate readers also referred to as microplate photometers, are laboratory equipment that is used to monitor physical or chemical processes in microtiter plates.
These plates are utilized in bioassay validation, clinical research, production processes in the biotechnological and pharmaceutical industries, quality assurance, and academic institutions for a variety of research experiments.
Infectious disease outbreaks are driving the need for faster and more effective treatments, vaccines, and other drugs, which is driving demand for microplate readers. Microplate readers are cost-effective, making them a popular choice among clients.
They are also perfect for absorbance readers due to their appealing qualities. Microplate readers are becoming more popular among scientists, which is pushing up demand for readers.
Which End User is Likely to Generate the Highest Profits from Microplate Systems?
“Rising Adoption of Microplate Systems to Improve Laboratory Workflow in Biotechnology & Pharmaceuticals”
Biotechnology & pharmaceuticals are expected to hold a significant share of the market during the forecast period. The key driving aspect is increased government support in the form of financing for biotechnology & pharmaceutical research.
Due to an increase in the number of companies, as well as the use of advanced technology for early detection and diagnosis, the biotechnology & pharmaceutical industries segment is predicted to grow at the fastest rate throughout the projection period.
An Adaptive Approach to Modern-day Research Needs
COVID-19 Impact on Consumption of Microplate Products
The COVID-19 pandemic had a significant impact on the healthcare industry around the world. Due to supply chain and raw material shortages and production challenges. Several basic sciences and clinical research efforts at academic, government, and commercial institutions were reduced as a result of the pandemic, which impacted the microplate systems industry.
Microplate systems are currently in high demand due to a growing need for enhanced diagnostic equipment from both healthcare professionals and the general public for the identification and detection of various microorganism-related illnesses.
Microplate system providers have an opportunity to capitalize on the rising demand for microplate systems in the market by ensuring an adequate and consistent supply.
Microplate system providers are focusing on introducing technologically advanced products, such as high-performance detecting equipment. In order to stay ahead of the competition, several market players are focusing on design improvements.
For instance :
- In 2021, Beckman Coulter Life Sciences released a new version of the BioLector XT Microbioreactor, which is integrated with FlowerPlate microtiter plate technology and is meant to allow for high-throughput strain screenings, feeding strategy modification, and cultivation parameter tracking.
Key Segments Covered in Microplate Systems Industry Research
by Product :
- Microplate Readers
- Microplate Pipetting Systems & Dispensers
- Microplate Washers
by End User :
- Biotechnology & Pharmaceuticals
- Hospitals & Diagnostic Laboratories
- Research Institutes
- Academic Institutes
by Region :
- North America
- Asia Pacific
- Latin America
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