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.
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.
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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COVID-19 Impact
Increase in COVID-19-related research activities to impact microplate systems market Trends. In the wake of the coronavirus pandemic, the healthcare domain has showcased severe disruptions due to issues regarding supply chain and raw material availability and manufacturing. Several academic, government, and industry research activities related to basic science as well as clinical studies also dwindled amid the pandemic, which may have impacted the microplate systems industry. However, the shifting focus from basic studies to COVID-19-related researches to address the growing demand for medications, diagnostics, and vaccines may create a positive impact on the industry outlook during the forecast timeline.
Global Microplate Systems Market Segmentation
By Product
- Multi-mode Microplate Readers
- Single-mode Microplate Readers
By Application
- Drug Discovery
- Clinical Diagnostics
- Others
By End-use
- Biotechnology and Pharmaceutical Companies
- Hospitals and Diagnostic Laboratories
- Research and Academia
- Others
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