Microplate Systems Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4190
Microplate Systems Market size is projected to experience significant growth from 2019 to 2025.
Increasing demand for miniaturization and automation in healthcare sector should drive microplate systems market growth in forthcoming period. High-throughput and ultra-high throughput screening through microplate systems is achieved as a result of miniaturization of chemical and biological testing system that is of significant importance in healthcare organizations. For instance, NanoOrange from BMG Laboratories, offers high throughput for protein quantification with increased sensitivity by enabling miniaturization. As a result, technological advancements coupled with rising disease prevalence is estimated to offer lucrative microplate systems market growth in the coming years.
Rising spending on R&D activities across developing countries should augment microplate systems business growth in upcoming years. According to Organization for Economic Co-operation and Development (OECD), South Africa spent 0.737% of its GDP on R&D in 2010 and 0.798 % in 2015. With expanding number of chronic and infectious diseases, focus on R&D along with new drug development in pharma and biotech companies is growing rapidly. Thus, growing focus on development of novel technologies in developing regions will positively impact microplate systems industry growth.
However, restrictive cost of the products can hamper microplate systems market growth over the projected period.
Multi-mode microplate readers segment is forecasted to witness significant growth over the forecast period owing to numerous advantages over the single-mode microplate reader. Multi-mode microplate readers are adaptable to read plates from bottom/top of the microplate. These microplate readers are versatile and flexible; thereby increasing customer preference in forthcoming years.
Drug discovery application segment will grow at remarkable pace throughout the projected timeframe. High growth is attributable to accelerating demand for drugs including personalized medicines. Technological advancements offering optimization of sample preparation and enhanced productivity by microplate systems will contribute to momentous segmental growth in foreseeable future.
Hospitals and diagnostic laboratories end-use segment will witness remarkable growth in the upcoming period. Escalating demand for diagnostics owing to rising prevalence of immunological and genetic disorders forms the major growth impacting factor. Microplate systems are available with automation that make them highly preferred for diagnostic purposes. In addition, developing healthcare infrastructure in emerging economies should drive segmental growth in the future years.
U.S. microplate systems market will grow at robust pace. Growing trend in research activities pertaining to genetics, toxicology and other fields is witnessed in U.S. Rising burden of infectious diseases such as influenza, HIV AIDS and pneumonia will increase the adoption rate of microplate systems. Furthermore, presence of established market players in the nation will highly impact U.S. microplate systems industry growth in forecast timeframe.
India microplate systems business will progress at lucrative pace owing to rapidly emerging diagnostics market in the country. Diagnostic laboratories offer cost advantage in India, further offering expansion opportunities in the future. Adoption of novel approaches further influence India microplate systems market growth. Moreover, increasing incidence of various infectious diseases will pose momentous market growth potential for India microplate systems industry over the foreseeable future.
Prominent industry players involved in global microplate systems market include Beckman Coulter, PerkinElmer, Thermo Fisher Scientific, and Biotek, among few other players. Companies are implementing novel product introduction and collaborations to capture higher profits in the market. For instance, in March 2018, Biotek launched Synergy LX, automated microplate-based assay, that will offer the firm competitive edge over other market players.
Microplate Systems Market By Product, 2014-2025 (USD Million)
- Multi-mode Microplate Readers
- Single-mode Microplate Readers
Microplate Systems Market By Application, 2014-2025 (USD Million)
- Drug discovery
- Clinical diagnostics
Microplate Systems Market By End-Use, 2014-2025 (USD Million)
- Biotechnology and Pharmaceutical Companies
- Hospitals and Diagnostic Laboratories
- Research and Academia
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
- Beckman Coulter
- Bmg Labtech
- Medical Devices
- Thermo Fisher Scientific
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