Microplate Systems Market - by Product (Microplate Washers, Microplate Pipetting Systems & Dispensers, Microplate Readers, and Other), by Application (Clinical Diagnostics, Drug Discovery, Proteomics and Genomics Research and Other), and by Region: Global Industry Perspective, Comprehensive Analysis and Forecast 2019 - 2026.
According to the report, the Global Microplate Systems Market was valued at USD 890 Million in 2019 and is expected to reach over USD 1,277.8 Million by 2026, growing at a CAGR of around 5.3% during the forecast period from 2020 to 2026.
The demand for Microplate Systems Market is increasing significantly due to tremendous increase in medical research and disease eradication program funded by various countries and international organizations. Advance therapies with respect to genes and stem cell are important determinant for the growth of Microplate Systems market in coming future.
Global Microplate Systems Market: Overview
- Microbial interactions are generally found in all biological interactions and processes, which also contain mixed infections from animals, plants, as well as humans. At present, microplate system is considered to be one of the most significant devices accessible for examining how microbes act together. Microplate system is a laboratory apparatus which is designed to find out and process chemical, biological, and physical reactions for experimental and research works. Microplate systems are extremely useful in testing of biological reactions, gene expression reactions, and quantification of proteins.
Global Microplate Systems Market: Growth Factors
- The growing demand and popularity of automated cell-based and biochemical assays in the biotech firms has fuelled the demand and requirement for microplate systems. The growth in the occurrence of chronic diseases in several countries has fuelled the demand for latest methods of diagnostics, for instance, microplate systems. Along with this, the improved investments in research & development activities by different firms in biotech sector are among other significant aspects fuelling the market growth and development.
Global Microplate Systems Market: Segmentation
- In terms of product, the microplate systems market is classified into microplate washers, microplate pipetting systems & dispensers, microplate readers, and other products. Microplate readers division is projected to account for the major share of the global microplate systems market as it can be utilized in different applications, for instance, in the investigation of the latest drug targets in the initial stages of drug discovery as well as in bioassay validation, research, QC, and for the recognition of biological, physical, or chemical processes in samples which are contained in microtiter plates. In terms of type, microplate readers market is bifurcated into single-mode microplate reader and a multi-mode microplate reader. The multi-mode microplate readers division is anticipated to lead the global market. The development of this division is accredited to the benefits related to it such as improved throughput and effectiveness.
- In terms of application, the microplate systems market is divided into clinical diagnostics, drug discovery, proteomics and genomics research as well as other applications (food testing, cell biology, and environmental monitoring). The drug discovery division is expected to hold the highest share of the global microplate systems market. The requirements for high throughput screening and decreased time-to-market for medicines are the most important aspects of the expansion of the global drug discovery division.
Global Microplate Systems Market: Regional Analysis
- North America is projected to dominate and lead the global market which is likely to be followed by Europe. The major share of this geographical division is accredited to growing government investments to hold up the growth of highly developed diagnostic methods, increasing ageing population, technological advancements, high adoption of advanced research and diagnostic technologies (owing to the considerable per capita annual healthcare spending by the government), easy accessibility, and increasing prevalence of infectious and chronic diseases. Europe is likely to account for the second-highest market share of this microplate systems market. Growing government initiatives for innovation and research and expanding biotechnology sector are the most important aspects supporting the development of the global microplate systems market.
Global Microplate Systems Market: Competitive Players
- Some of the most important market players in the global microplate systems market are BioTek Molecular Devices, Thermo Fisher Scientific Inc., PerkinElmer Inc., BMG Labtech GmbH, and Instruments, Inc., among others.
Global Microplate Systems Market: Regional Segment Analysis
- North America
- The Asia Pacific
- Latin America
- The Middle East and Africa
- What Reports Provides
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market.