Microplate Systems Market Share, Size, Trends, Industry Analysis Report, By Product; By Application (Drug Discovery, Clinical Diagnostics Genomics & Proteomics Research Others); By End-use; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 112
- Format: PDF
- Report ID: PM2392
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global microplate systems market was valued at USD 926.4 million in 2021 and is expected to grow at a CAGR of 11.0% during the forecast period. The rising prevalence of various diseases such as cancer, neurological & cardiac disease, and several others, coupled with the increasing demand for scanning & imaging technology in the healthcare sector, are the chief factors propelling the microplate systems market demand across the globe.
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The microplate systems have witnessed higher growth for lab applications, including ELISAs and cell imaging. Increasing research & development activities in the pharmaceutical sector provide the impetus for market growth worldwide. Furthermore, rising government budget and initiatives toward public health care and growing applications such as cell culture, assays, nucleic acid, protein filtration, and sample filtration in microplate systems are also creating growth prospects for the microplate systems market demand in the forecast period.
The outbreak of the COVID-19 has shown a significant impact on the various sector of the economy. The microplate systems market was positively affected during the anticipated period due to the increasing demand for sample filtration and diagnosis requirement. During this period, the rapid increase in the COVID-19 patients provides lucrative growth to the market globally.
The market research report offers an in-depth analysis of the industry to support informed decision-making. It offers a meticulous breakdown of various market niches and keeps readers updated on the latest industry developments. Along with tracking Microplate Systems Market on the basis of SWOT and Porter’s Five Forces models, the research report includes graphs, tables, charts, and other pictorial representations to help readers understand the key insights and important data easily.
The microplate systems gain massive traction in the clinical diagnostics and healthcare sector; thus, the pandemic has not witnessed a considerable downfall in the market growth. The trade and research activities in the various end-use segment get affected due to stringent government regulations and strict lockdown. However, the gradual opening of the lockdowns is bringing an upsurge in the microplate systems market demand during the forecast period.
Industry Dynamics
Growth Drivers
The rising geriatric population globally is the primary factor propelling the industry demand in the projected years. The geriatric population is more prone to various diseases and disorders, such as orthopedics disorders and neurological and cardiac diseases, which fosters the industry demand. For instance, as per the statistics published by the World Ageing, the world’s population aged above 60 years or more was 962 million in 2017, which was more than twice as large as the previous ten years when there were only 382 million older persons globally. The geriatric age population is anticipated to double, by 2050, to around 2.1 billion.
In addition to this, the rising number of patients due to changing climatic conditions and lifestyles also stimulates industry growth. For example, according to Organization for Economic Co-operation and Development, in 2020, the number of patients is increasing rapidly globally. Accordingly, WHO is also estimated to invest nearly USD 370 billion per year in public healthcare. Thereby, these factors are witnessing the substantial demand for microplate systems, thus, in turn, augmenting the industry growth over the projected period.
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Report Segmentation
The market is primarily segmented on the basis of product, application, end-use, and region.
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By Product |
By Application |
By End-use |
By Region |
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Insight by End-Use
The hospitals & diagnostic laboratories segment is anticipated to witness a lucrative growth rate over the forecast period. The demand for diagnostic centers is rising owing to factors such as increasing cases of cancer, neurological disorders, influenza, and viral and infectious diseases worldwide, which foster industry growth.
For instance, according to the International Agency for Research on Cancer (IARC), in 2018, approximately 17.0 million cancer cases and around 9.5 million deaths were caused by cancer globally, and several cancer cases are expected to increase to 27.5 million by 2040 worldwide. Hence hospitals & diagnostic laboratories are the leading segment dominance in the forecasting period.
The biotechnology & pharmaceutical companies are projected to attain a significant growth rate in the forecasting years. The government and private sectors globally spend massive amounts and raise funds to advance pharmaceutical and biotechnology companies. On the other hand, rising public awareness of personal healthcare provides healthy growth to the industry.
For instance, according to The Commonwealth Fund, in 2020, the adoption of advanced medical technology is rising worldwide, enhancing government spending on public health. The United States spent 16.9% of the gross domestic product on health care, OECD countries spent around 8.3 percent, and Switzerland spent 12.2% on public health care in 2018. Thus, due to these factors, the industry is expected to grow in the projected years at an alarming rate
Geographic Overview
Geographically, North America accounted for the largest revenue share in the global industry. The growing technological advancements in the healthcare sector and raising public awareness boost the market growth in the forecast period. The government of several nations across the region is also spending vast amounts on the health budget to improve public health and develop healthcare infrastructure facilities.
As per the American Cancer Society, in 2018, there were nearly 1,735,350 new cancer cases diagnosed and 609,640 cancer deaths in the United States. Also, the amount is projected to increase to 1.9 million new cancer cases diagnosed and 609,360 cancer deaths by 2022. Consequentially, these factors are anticipated to propel market growth across the region.
Moreover, the Asia Pacific market is anticipated to exhibit the highest CAGR over the forecasting years owing to the rising number of diagnostic centers due to the increasing number of patients creating significant market growth across the region. The growing number of initiatives and innovations for the development of labs and diagnostic centers are accelerating the market demand. In addition, China, India, and Japan are the countries with the highest population; thus, the requirement for the largest diagnostic centers accelerates the growth in the forecast period.
Competitive Insight
Some of the major players operating in the global microplate systems market include Accuris Instruments, Agilent Technologies Inc., Berthold Technologies, Biochrom, Bio-One International GmbH, Bio-Rad Laboratories Inc., BMG Labtech, Brucker Corporation, Corning, Danaher Corporation, Dynex Technologies, Enzo Life Sciences Inc., Hudson Robotics, Lonza, PerkinElmer, Promega Corporation, Tecan, and Thermo Fisher Scientific.
Microplate Systems Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 926.4 Million |
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Revenue forecast in 2030 |
USD 2,269.8 Million |
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CAGR |
11% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments covered |
By Product, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Key Companies |
Accuris Instruments, Agilent Technologies Inc., Berthold Technologies, Biochrom, Bio-One International GmbH, Bio-Rad Laboratories Inc., BMG Labtech, Brucker Corporation, Corning, Danaher Corporation, Dynex Technologies, Enzo Life Sciences Inc., Hudson Robotics, Lonza, PerkinElmer, Promega Corporation, Tecan, and Thermo Fisher Scientific. |
The analysis of Microplate Systems Market extends to a comprehensive market forecast up to 2032, coupled with a retrospective examination. Avail yourself of a complimentary PDF download to sample this in-depth industry analysis. report to suit their needs. By customizing the report, you can get data as per your format and definition. Also, the customization option allows you to gain a deeper dive into a specific segment, region, customer, or market competitor.
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