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.
Revenue
Growth Analysis:
[270 Pages Report] The 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%.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=37081572
Key Factors Driving Market Growth:
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.
Growth in Pharmaceuticals and Biotechnology Industries:
In the last decade, the number of pharma
companies has grown significantly, especially in the emerging markets. As of
2019, there are 1,131 publicly listed pharmaceutical and biotech companies
across the Asia Pacific, indicating a significant presence of local as well as
international players in the region.
According to the Pharmaceutical Research and Manufacturers Association (PhRMA),
US firms conduct a majority of the world’s R&D in pharmaceuticals and hold
the intellectual property rights to most new medicines. In addition, the
biopharmaceutical industry has developed over 5,000 new medicines around the
world, with ~3,400 compounds currently being studied in the US—more than in any
other region around the world.
Drug Discovery Application:
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.
Regional Growth Analysis:
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.
Key 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 system market is its key strength. Agilent
Technologies Inc.(US) held the second position in the microplate system market
in 2020.
Considering the current pandemic and the contribution of the pharmaceutical and
biotechnology industry in controlling the spread of the virus by providing
essential drugs, vaccines, kits, and other supplies, the demand for microplate
products is expected to increase in this industry.