Microplate Systems Market
Global Microplate Systems Market was valued US$ 825.3 Mn in 2017 and is expected to reach US$ 1184.36 Mn by 2026, at a CAGR of 4.62 % during a forecast period.
Microplate Systems is a research laboratory apparatus which is used to find out process chemical, biological, and physical reactions for trial and research work. Microplate systems are very useful in testing of biological reactions & gene expression reactions, and quantification of proteins.
Growing R&D expenses in the pharmaceutical industry, rising effort on miniaturization, technological advancement, and increased occurrence of diseases are boosting the market growth. The potential for microplate systems in emerging markets is enhancing market growth. Some key factor that drives the growth of the microplate systems market is a rise in finance of the laboratories, growth in infectious diseases that require lab testing for confirmation, and better reimbursement policies in developed countries. However, a high cost of microplate system and lack of trained specialists are limiting the growth of the market.
The biotechnology & pharmaceutical companies segment is estimated to be the fastest growing segment during the forecast period owing to the growing government support in the form of finance for biotech & pharma research.
The multi-mode microplate readers are expected to register the highest growth rate during the forecast period owing to the increased throughput & efficiency. A multi-mode microplate reader offers the ease of multiple detections at a fraction of the cost of multiple dedicated machines and saves bench space in the lab. Expand capabilities, achieve sensitivity, and evaluate data effortlessly is also increase the growth of the multi-mode microplate readers.
The drug discovery segment is expected to hold the highest share of the global microplate systems market owing to the necessities for high throughput screening and reduced time for medicines in a market are the most important features of the expansion of the global drug discovery segment.
The Asia Pacific is expected to grow at a rapid rate during the forecast period owing to the existence of rapidly developing economies such as China & India. Increase alertness about health & hygiene enhanced health care infrastructure, and available microplate systems market due to growth in the elderly population with inadequate diagnostic & treatment solutions is also boosting the market growth in this region.
Key player operating in the global microplate systems market are Agilent, BMG Labtech, Berthold, Bio-Rad, Biochrom, Biotek, Corning, Danaher, Lonza, Mindray, Perkinelmer, Promega, Rayto, Tecan, and Thermo Fisher Scientific.
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