As per industry analysis by Fact.MR, a market research and competitive intelligence provider, the global microplate systems market is expected to rise at a CAGR of 4.5% over the forecast period of 2022-2026 and reaching US$ 1.1 Billion by 2026. The demand for Microplate Systems is expected to rise over the forecast period and the market is projected to gain a global market size worth of US$ 922.3 Million by the end of 2022.
Microplate systems are widely recognized as one of the most important tools for studying how bacteria interact. Continuous focus on the miniaturization of diagnostic assays is projected to drive the microplate systems market considerably. Introduction of high-throughput assays and integrated systems is a crucial factor that is predicted to contribute to market growth. The market will benefit from equipment manufacturers’ high focus on design advancements.
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Rising government initiatives across various emerging nations to implement advanced, automated diagnostics in healthcare systems are likely to bolster market growth. Significant advancements in assays in developed countries are projected to open up new opportunities in microplate system manufacturers.
Rising investments in genomics and proteomics R&D, as well as increased use of immunoassays in the discovery and development of new treatments to combat various diseases, are propelling also market growth.
Why is North America a Leading Market for Microplate Systems?
The market in North America is expected to increase significantly over the coming years. Government incentives for cell-based research and the growing acceptance of customized medicine can both be credited for a considerable share in North America.
Increased academic and government funding in diagnostic research, as well as a greater focus on drug discovery and development, are driving the market growth in the region.
Key Segments Covered in Microplate Systems Industry Research
- by Product :
- Microplate Readers
- Microplate Pipetting Systems & Dispensers
- Microplate Washers
- by End User :
- Biotechnology & Pharmaceuticals
- Hospitals & Diagnostic Laboratories
- Research Institutes
- Academic Institutes
- by Region :
- North America
- Asia Pacific
- Latin America
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Key Takeaways from the Microplate Systems Market Study
- Global microplate systems market to reach US$ 1.1 billion by 2026.
- Microplate washers projected to reach US$ 125.1 million by 2026
- Microplate readers projected to record 5.2% CAGR from 2022 to 2026
- Market in Latin America to record 4.3% CAGR over forecast period
Key companies are employing various strategies such as highly-efficient and cost-effective technologies, mergers & acquisitions, and product releases to maintain a substantial position in the global microplate systems market.
These efforts are creating the way for market players to expand their business and client base. With increased demand for microplate systems in the global market, prominent market participants are expected to witness significant opportunities over the coming years.
- Beckman Coulter, a global pathfinder in clinical diagnostics, launched the PK7400, a cutting-edge, completely automated microplate system for donor blood testing.
Key players in the Microplate Systems Market
- Agilent Technologies, Inc.
- Berthold Technologies GmbH & Co. KG
- Bio-Rad Laboratories, Inc.
- Biochrom Ltd.
- Corning Incorporated
- Danaher Corporation
- Molecular Devices, LLC
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Biotechnology & pharmaceuticals are expected to hold a significant share of the market during the forecast period. The key driving aspect is increased government support in the form of financing for biotechnology & pharmaceutical research.
Due to an increase in the number of companies, as well as the use of advanced technology for early detection and diagnosis, the biotechnology & pharmaceutical industries segment is predicted to grow at the fastest rate throughout the projection period.
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