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Microplate Systems Market size is expected to witness commendable growth from 2023 to 2032, driven by the consistent advancements in microplate absorbance reader technology for lab applications, ranging from ELISAs to cell imaging. Moreover, the increased R&D expenditure across the pharmaceutical sector will significantly contribute to industry revenues over the coming years.
Microplates or microtiter plates refer to multi-well plates that can be sealed and used in pharmaceutics, molecular biology, diagnostics, therapeutics, and biomedical studies. In essence, the system is a glass plate with multiple wells or depressions placed side by side in a rectangular matrix. It has also been gaining widespread usage in cell culture, sample filtration, assays, and nucleic acid and protein quantification.
The increasing burden of infectious diseases and the escalating investment in medical research in nations such as the United States are among the key factors amplifying microplate systems market trends through 2032. The expanding patient pool and the increasing usage of microtiter plate readers as an indispensable tool in virology research may augment product sales. Nonetheless, the increasing production of liquid handlers that allow miniaturized or low-volume genotyping reactions and zero cross-contamination in source wells will add significant impetus to the microplate systems industry in the coming years.
However, the increasing inflation levels have severely impacted the global markets and may limit people’s expenditure on health and wellness. In addition, the ongoing war crisis between Ukraine and Russia has posed several challenges in front of the healthcare industry in both countries. With inflation expected to attain new heights and the war seeming to reach new dimensions, the microplate systems business may experience a slight setback in the coming years.
Microplate systems market from single-mode microplate readers segment is primed to showcase an appreciable growth rate between 2023 and 2032. The segment growth can be credited to the escalating development of cutting-edge products backed by the increasing utilization of single-mode microplate readers in several biological detection techniques. Besides, the availability of these devices in a range of analytical models offering enhanced precision will further boost industry growth.
Regarding the application spectrum, the clinical diagnostics segment is anticipated to hold a decent share of the microplate systems market by 2032. The segment growth is driven by the ability of microplate instrumentation to ensure high efficiency and performance for improved clinical diagnostic workflows. In addition, the commendable increase in the number of diagnostic and medical laboratories in the U.S. will further propel the deployment of microplate equipment to boost laboratory workflow.
Asia Pacific microplate systems market is slated to amass substantial profits by 2032, backed by the high burden of infectious diseases and the favorable business landscape for biopharma companies in China, Japan, and other countries. In 2021, Japan-based Bushu Pharmaceuticals Ltd. signed a deal with Suzuken Co., intending to offer comprehensive support to specialty pharma manufacturers that are planning to enter the Japanese market. Situations such as these could positively impact the adoption of microplate systems for drug discovery and development activities in the regional pharma sector.
Key industry players include Tecan, Rayto, Promega, PerkinElmer, Mindray, Lonza, Corning, Bmg Labtech, Bio-Rad, Biochrom (Harvard Bioscience), Berthold Technologies, Thermo Fisher Scientific, and Beckman Coulter (Danaher Corporation). These companies are focusing on new product launches and business expansions to increase their footprint in the global market.