This report aims to provide detailed insights into the global Microplate Systems Market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth: The global microplate systems market size is projected to reach USD 1,170 million by 2026 from USD 927 million in 2021, at a CAGR of 4.8% during the forecast period. Growth of the market is driven mainly by the increasing R&D expenditure in the pharmaceutical industry, increasing focus on miniaturization, and the growing prevalence of diseases.
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The microplate reader segment is expected to grow at the highest CAGR during the forecast period
Based on the product, the microplate systems market is segmented into microplate readers, microplate pipetting systems and dispensers, microplate washers, and microplate accessories & software. The consumables segment is projected to witness the highest growth during the forecast period. The increasing prevalence of diseases, the growing focus on drug discovery, and the rising R&D expenditure by pharmaceutical companies the major factors supporting the growth of this segment.
The application segment accounted for the largest share of the microplate systems market in 2020
By application, the microplate systems market is segmented drug discovery, clinical diagnostics, genomics and proteomics research, and other applications. The drug discovery segment accounted for the largest market share in 2020. The large share of this segment can be attributed to The need for high-/ultra-high-throughput screening and reduced time-to-market for drugs.
Biotechnology and pharmaceutical companies for the largest share of the microplate systems market in 2020
Based on end-users, the microplate systems market is segmented into biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, and academic & research institutes. The biotechnology and pharmaceutical segment accounted for the largest share of the microplate systems market in 2020. Increasing government support in the form of funding for biotech and pharma research are the major driving factor for this market.
North America accounted for the largest share of the microplate systems market in 2020
Based on the region, the microplate systems market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). In 2020, North America accounted for the largest share of the microplate systems market. The large share of North America can be attributed to factors such as government initiatives for cell-based research, the increasing acceptance of personalized medicine, increasing academic and government investments in diagnostic research, and increasing focus on drug discovery and development.
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Key Market Players
Some of the major players operating in this market are Danaher Corporation (US), Agilent Technologies Inc. (US), Thermo Fisher Scientific Inc.(US). In 2020, Danaher Corporation held the leading position in the market. The company has a strong geographic presence across North America, Europe, and the Asia Pacific. Moreover, the company’s strong brand recognition and comprehensive product portfolio in the microplate systems market is its key strength. Agilent Technologies Inc.(US) held the second position in the microplate systems market in 2020.