Microplate Systems Market
Number of pages: 100 | Report Format: PDF | Published date: July 04, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 941.5 million |
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Revenue Forecast in 2031 |
US$ 1,303.4 million |
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CAGR |
3.68% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Product Type, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global microplate systems market was valued at US$ 941.5 million in 2022 and is expected to register a revenue CAGR of 3.68% to reach US$ 1,303.4 million by 2031.
Microplate Systems Market Fundamentals
Microplate systems are useful for investigating the way bacteria interact with one another. It is a laboratory device that detects and processes biological, chemical, and physical processes to conduct experiments and research. Microplate systems are commonly used in biological response testing, protein quantification, and gene expression experiments. Microplate readers are one form of system. In molecular biology research, microplate readers are commonly used. Microplate systems provide several advantages, including lower evaporative losses, contamination from well to well (through spilling or wicking), and biological and environmental contamination.
Microplate Systems Market Dynamics
The pharmaceutical industry's massive R&D and financial investments to produce innovative pharmaceutical and therapeutic agents create a high demand for microplate devices at various phases of product development. Microplate devices, for example, are used to demonstrate readings of liquid components during the intermediate stage of pharmaceutical formulation production. Additionally, the rising prevalence of infectious illnesses and increased expenditure in medical research are among the important reasons driving microplate systems market trends. According to a WHO estimate, a total of 10.6 million individuals were diagnosed with TB in 2021, which equates to 134 cases per 100,000 people. Geographically, the majority of TB cases (45%), in Africa (23%), and the Western Pacific (18%) were found in 2021, with lower numbers in the Eastern Mediterranean (8.1%), the Americas (2.9%), and Europe (2.2%). Thus, the growing patient population and the increased use of microtiter plate readers as a necessary tool in virology research may boost product sales.
Nonetheless, the growing manufacture of liquid handlers that allow for miniaturized or low-volume genotyping processes and zero cross-contamination in source wells will provide substantial impetus to the microplate systems sector in the future years. The introduction of new biologics, vaccines, and proteins, all of which need high throughput screening and high content analysis, will significantly influence the microplate system market. For instance, in January 2023, BDR Pharmaceutical launched a new drug Palbociclib with the brand name ‘BDPALBO,’ for the advanced treatment of metastatic breast cancer in India. The biopharmaceutical companies are expected to grow constantly during the projection period, and no major difficulties are currently on the horizon. As novel medicines are demonstrated to be successful, the pharmaceutical sector is giving way to the biopharmaceutical industry. Furthermore, microplate reader systems, for example, are an important aspect of developing and validating in-vitro tests such as membrane stabilization assays, egg albumin denaturation assays, clot lysis assays, and a variety of other assays. Developing new assays for detecting and treating different disorders is predicted to boost the use of microplate reader devices in drug discovery.
However, microplate systems can be expensive to acquire and maintain, especially advanced models with additional features and capabilities. The initial investment, along with ongoing costs for reagents, maintenance, and software updates, can pose a financial burden for smaller research institutions or laboratories with limited budgets. Operating and maximizing the potential of microplate systems requires a certain level of expertise and training. The complexity of the instruments and associated software may present a learning curve for users who are unfamiliar with the technology. Additionally, achieving complete standardization across different manufacturers and models can be challenging. Incompatibility between microplates from different suppliers or inconsistencies in plate design can limit flexibility and increase operational challenges. Microplate systems generate large amounts of data, particularly in high-throughput screening applications. Analyzing and interpreting these data sets can be complex and time-consuming. This constant evolution necessitates continuous education, research, and investment to stay competitive and ensure optimal instrument performance. Incorporating microplate systems into existing laboratory workflows may require adjustments and modifications. Integration with other equipment, such as liquid handling systems or robotic platforms, can present technical challenges. Ensuring seamless integration and compatibility with existing infrastructure maximizes efficiency and productivity. The microplate systems market is highly competitive, with numerous manufacturers offering various products. The market may become saturated, making it challenging for new entrants to establish themselves. Established manufacturers face ongoing pressure to innovate and differentiate their products to maintain a competitive edge.
Microplate Systems Market Ecosystem
The global microplate systems market has been analyzed from the following perspectives: by product type, application, end user, and region.
Microplate Systems Market by Product Type
Based on the product type, the global microplate systems market is segmented into microplate readers, microplate washers, microplate pipetting systems and dispensers, and others.
Microplate readers dominate the global market with the largest revenue share. Microplate readers are highly versatile instruments that can be used for various applications in various fields such as pharmaceuticals, biotechnology, clinical diagnostics, and academic research. They can perform multiple types of measurements, including absorbance, fluorescence, luminescence, and time-resolved fluorescence, allowing for comprehensive analysis of samples. Microplate readers are designed to handle microplates, which are standardized multi-well plates containing multiple samples. These instruments offer high automation and can process large numbers of samples simultaneously, enabling high throughput screening and analysis. This makes them ideal for applications that require rapid and efficient analysis of large sample sets.
Additionally, microplate readers provide precise and accurate measurements of various parameters such as absorbance or fluorescence intensity. They have sophisticated optical systems and detectors that ensure reliable and reproducible results. This makes them valuable tools for research and quality control applications where data accuracy is crucial. Microplate readers are often accompanied by user-friendly software that enables easy data acquisition, analysis, and interpretation. Furthermore, microplate readers find applications in various research areas, including drug discovery, genomics, proteomics, enzyme kinetics, cell-based assays, and immunoassays. The ability to adapt to diverse applications and deliver reliable results has contributed to their widespread adoption and dominance in the microplate systems market.
Microplate Systems Market by Application
Based on the application, the global microplate systems market is segmented into clinical diagnostics, genomics and proteomics research, drug discovery, and others.
Drug discovery dominates the global market with the largest revenue share. Drug discovery is a complex and critical process in the pharmaceutical industry. It involves identifying and developing new drug candidates for treating various diseases. Microplate systems play a vital role in drug discovery by enabling high-throughput screening of compounds, drug efficacy assessment, and toxicity evaluation. The demand for new and effective drugs continuously grows, driving the need for advanced microplate systems. Drug discovery requires screening many compounds against specific targets or disease models. Microplate systems offer high automation and throughput capabilities, allowing researchers to simultaneously process and analyze many samples. Microplate systems can be seamlessly integrated with robotic systems, enabling high-throughput automation of drug discovery workflows. Robotic systems can handle sample preparation, compound handling, and plate handling, further increasing the efficiency and throughput of the drug discovery process. Integrating microplate systems with robotics has become a standard practice in many pharmaceutical and biotech companies.
Microplate Systems Market by End User
Based on the end user, the global microplate systems market is segmented into hospital and diagnostic laboratories, research and academic institutes, biotechnology and pharmaceutical companies, and others.
Biotechnology and pharmaceutical companies account for a sizeable revenue share in the global market. Biotechnology and pharmaceutical companies invest significantly in research and development to discover and develop new drugs, therapies, and biotechnological products. Microplate systems are integral tools in these R&D activities, enabling high-throughput screening, assay development, and data analysis. The demand for microplate systems is high within these industries to support their ongoing research efforts. Biotechnology and pharmaceutical companies conduct extensive high-throughput screening campaigns to identify potential drug candidates or therapeutic targets. This industry requires rigorous quality control measures to ensure its products' safety, efficacy, and consistency. Biotechnology and pharmaceutical companies have embraced automation to streamline their workflows and improve efficiency. Microplate systems can seamlessly integrate robotic systems, liquid handling platforms, and laboratory information management systems (LIMS). This integration enables automated sample preparation, compound handling, and data management, reducing manual labor, minimizing errors, and increasing productivity. Biotechnology and pharmaceutical companies often collaborate with academic institutions, research organizations, and contract research organizations (CROs) to advance their R&D efforts. Biotechnology and pharmaceutical companies are major players in the healthcare industry and have substantial financial resources. This enables them to invest in state-of-the-art laboratory equipment, including microplate systems, to support their research and production activities. Their market influence and purchasing power contribute to their dominance in the global microplate systems market.
Microplate Systems Market by Region
Based on the region, the global microplate systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is home to a robust and well-established biotechnology and pharmaceutical industry. The region is known for its significant research and development activities, advanced healthcare infrastructure, and strong regulatory frameworks. Biotechnology and pharmaceutical companies in North America heavily invest in innovative technologies and equipment like microplate systems, driving the demand and dominance of the market. North America allocates substantial resources to research and development in various fields, including life sciences, healthcare, and pharmaceuticals. These investments contribute to the demand for advanced laboratory equipment, including microplate systems, to support R&D activities. The presence of numerous research institutions, academic centers, and pharmaceutical companies in the region further boosts the market dominance of North America. North America is a hub for technological advancements and innovation in the life sciences and healthcare sectors. North America benefits from a well-established distribution network for laboratory equipment and consumables. The region has a wide network of distributors, suppliers, and service providers, facilitating the easy availability and accessibility of microplate systems. The efficient distribution network ensures timely delivery, installation, and after-sales support for customers, contributing to the market dominance of North America.
Competitive Landscape
The prominent players operating in the global microplate systems market are:
Strategic Developments
Microplate systems are useful for investigating the way bacteria interact with one another. It is a laboratory device that detects and processes biological, chemical, and physical processes to conduct experiments and research.
Agilent Technologies Inc., Danaher Corporation (Molecular Devices), and Thermo Fisher Scientific Inc. are some of the major market players in the global microplate systems market.
High cost and competition are some of the restraints obstructing the growth of the global market.
The microplate readers segment dominated the global microplate systems market in 2022
The increasing prevalence of infectious diseases and the growing pharmaceutical and biotechnology industries are some of the major factors driving the global market.
*Insights on financial performance are subject to the availability of information in the public domain