Microplate Systems Market Emerging Trends, Top Growing Segments and Future Developments

April 19 06:45 2022
Microplate Systems Market Emerging Trends, Top Growing Segments and Future Developments
Some of the major players operating in this market are Danaher Corporation (US), Agilent Technologies Inc. (US), Thermo Fisher Scientific Inc.(US). In 2020, Danaher Corporation held the leading position in the market.
Microplate Systems Market Research Report Gives in Detailed Analysis of Industry Segments, Opportunities, Growth and Size.

According to the new market research report Microplate Systems Market by Product (Microplate Reader (Multi-mode, Single-mode), Microplate Washer, Microplate Accessories), Application (Drug Discovery, Clinical Diagnostics) & End User (Hospital and Diagnostic Laboratories) – Global Forecast to 2026″, published by MarketsandMarkets™, the global market size is projected to reach USD 1,170 million by 2026 from USD 927 million in 2021, at a CAGR of 4.8%.

DRIVER: Increasing R&D expenditure in the biopharmaceutical company

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.

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. In Europe, the pharmaceutical R&D expenditure increased from USD 16.5 billion (EUR 17.8 billion) in 2000 to USD 45.6 billion (EUR 37.5 billion) in 2019 (Source: EFPIA).

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The growth in this market is attributed to the increasing R&D expenditure in the pharmaceutical industry, increasing focus on miniaturization and the growing prevalence of disease.

Microplate readers accounted for the larger share of the Microplate Systems Market in 2020

Based on the product, the market is segmented into microplate readers, microplate pipetting systems and dispensers, microplate washers, and microplate accessories & software. In 2020, the microplate readers segment accounted for the larger share of the microplate system market. The large share of this segment can be attributed to the increasing prevalence of diseases, the growing focus on drug discovery, and the rising R&D expenditure by pharmaceutical companies.

By application, the drug discovery segment accounted for the largest market share in 2020

Based on the application, the market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and other applications. The drug discovery segment accounted for the largest market share in 2020. The need for high-/ultra-high-throughput screening and reduced time-to-market for drugs are major driving factors for this market.

Biotechnology & Pharmaceutical are the largest end-users of the microplate systems market

Based on end-users, the market is segmented into biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, and academic & research institutes. The biotechnology & pharmaceutical segment accounted for the largest market share in 2020 due to increasing government support in the form of funding for biotech and pharma research.

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North America dominates the global microplate system market

The microplate systems market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the market. The large share of North America can be attributed to factors such as the government initiatives for cell-based research, the increasing acceptance of personalized medicine, increasing academic and government investments in diagnostic research, and increasing focus on drug discovery and development.

The major players in the microplate systems market are Danaher Corporation (US), Bio-Rad Laboratories Inc. (US), PerkinElmer (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), Lonza (Switzerland), Brucker Corporation (US), Dynex Technologies (US), Bio-One International GmbH (Austria), Accuris Instruments (US), CTK Biotech Inc. (US), LTEK (South Korea), JASCO (Japan), Rayto (China), Micro Lab Instruments (India), Biohit Oyj (Finland), Mindray (China), and Hudson Robotics (US).

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