The global microplate systems market size is expected to reach USD 2,269.8 million by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The increasing incidences of chronic and infectious diseases, surging demand for automated cell-based and biochemical assays, and thriving growth of the pharmaceutical and biotechnology industries are the chief factors that augment the global industry growth.
In addition, the availability of favorable reimbursement policies and rising investments in R&D activities by leading companies are also acting as a catalyzing factor that is surging the industry demand. Moreover, growing laboratory testing, rising emphasis on miniaturization, and increasing spending on healthcare are the factors that offer various growth prospects to the industry growth over the forecast period.
Based on the application, the clinical diagnostics segment is dominating the global industry owing to the competence of microplate instrumentation to facilitate high proficiency and performance for enhancing clinical diagnostic workflows. Besides, the considerable rise in the number of medical and diagnostic laboratories further accelerates the segment growth worldwide.
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The drug discovery segment is expected to hold the highest growth rate in the global market over the forecast period. The surging need for high-/ultra-high-throughput screening, growing demand for novel approaches in drug discovery, and rising R&D investments in drug discovery are impelling the segment growth in the upcoming years.
The growing spending on R&D activities by the biopharmaceutical company is one of the chief driving factors for the global market growth. Microplate systems are gaining massive traction among various biotechnology and pharmaceutical industries as they are highly adopted in modern drug discovery and genomic & proteomic research.
Also, these systems boost test speed and precision, save time, and enable researchers to focus on core tasks. Therefore, these factors are anticipated to foster the demand for microplate systems due to the increasing pace of R&D in the pharmaceutical industry, which augments the market growth.
Market participants such as Agilent Technologies Inc., Accuris Instruments, Berthold Technologies, Brucker Corporation, Biochrom, Bio-Rad Laboratories Inc., BMG Labtech, Bio-One International GmbH, Dynex Technologies, Corning, Danaher Corporation, Enzo Life Sciences Inc., Promega Corporation, Hudson Robotics, Lonza, PerkinElmer, Tecan, and Thermo Fisher Scientific are some of the key players operating in the global market.
For instance, in May 2021, Beckman Coulter Life Sciences launched the company’s new BioLector XT Microbioreactor. The BioLector XT Microbioreactor offers the highest flexibility and various applications in the BioLector series of instruments.
Polaris market research has segmented the microplate systems market report on the basis of product, application, end-use, and region:
Microplate Systems, Product Outlook (Revenue - USD Million, 2018 - 2030)
Microplate Systems, Application Outlook (Revenue - USD Million, 2018 - 2030)
Microplate Systems, End-Use Outlook (Revenue - USD Million, 2018 - 2030)
Microplate Systems, Regional Outlook (Revenue - USD Million, 2018 - 2030)