The global microplate systems market was valued at USD 1.2 billion in 2021 and it is anticipated to grow up to USD 2.4 billion by 2031, at a CAGR of 7.2% during the forecast period.
Global Microplate Systems Market report from Global Insight Services is the single authoritative source of intelligence on Microplate Systems Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Microbial interactivity is found in biological interactions and process among bacteria. It includes infections from plants, animals and also humans. Microplate systems are known as one of the most significant devices available to examine how the microbes act together. Microplate system is an apparatus used in the laboratory which is developed for finding out biological, chemical process and physical reactions for research and experimental activities. These systems are very useful for testing of gene expression reactions, biological reactions and quantification of proteins. Microplate system has its applications in drug discovery, environmental monitoring, treatment of waste water and fermented foods.
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Market Trends and Drivers
Increasing R&D expenditure in the biopharmaceutical company will positively impact the market growth.The pharmaceutical and biotechnology industries are among the major end users in the microplate systems market. Microplate systems find high use in modern drug discovery and development activities and genomic & proteomic research, as they increase the test speed and accuracy, thus saving time and enabling researchers to focus on core tasks. Consequently, the increasing pace of R&D in the pharmaceutical industry—as evidenced by the rising expenditure in this area—can be taken as a key growth driver for the market. For instance, according to PhRMA, the R&D expenditure of PhRMA member companies in the US increased from ~USD 26.0 billion in 2000 to USD 58.8 billion in 2015. Similarly, as per EFPIA, in Europe, the pharmaceutical R&D expenditure increased from USD 16.5 billion in 2000 to USD 45.6 billion in 2019.
Market Restraints and Challenges
Survival of small players and new entrants may hinders the market growth to some extent. The survival of small players and new entrants in the microplate systems market is a significant challenge. Huge investments are required for the R&D and launch of innovative products in the market. Thus, to remain competitive in the market, companies have to invest heavily. Moreover, market players have to reduce operational costs to successfully survive in the market, which is very difficult for small players and new entrants.
Global Microplate Systems Market Segmental Overview
The report analyses the global microplate systems market based on product, application, end-use, and region.
Global Microplate Systems Market by Product
Based on product, it is segmented into multi-mode microplate readers and single-mode microplate readers. Among these, multi=mode microplate segment accounted for significant market share in 2021. demand for multi-mode readers is gaining impetus due to the greater flexibility, cost efficiency, and compact sizing options offered by them. Moreover, in addition to fluorescence, absorbance, and luminescence capabilities, multi-mode readers currently offer several configurable modes for fluorescence polarization, fluorescence resonance energy transfer, time-resolved fluorescence, and amplified luminescent proximity homogeneous assays, among others. These capabilities are strengthening the growth prospects for multi-mode readers in the near future.
Major Players in the Global Microplate Systems Market
The key players in the microplate system market are Bio-Rad Laboratories Inc. (US), PerkinElmer (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Agilent Technologies Inc. (US), Tecan (Switzerland), BMG Labtech (Germany), Promega Corporation (US), Enzo Life Sciences Inc. (US), Berthold Technologies (Germany), Biochrom (UK), Corning (US), and Lonza (Switzerland), among others.
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