New York, May 25, 2023 (GLOBE NEWSWIRE) -- The global molecular grade plates market is expected to generate US$ 277.8 million in revenue by the end of 2022, with a CAGR of 4.0% expected to propel the market forward to US$ 427.1 million by 2033. The market is driven by the increasing demand for molecular biology techniques in various applications, such as diagnostics, drug discovery, and research.
Molecular grade plates are used in a variety of molecular biology applications, such as polymerase chain reaction (PCR), nucleic acid purification, and DNA sequencing. PCR is a widely used technique for the amplification of DNA. Nucleic acid purification is used to isolate and purify nucleic acids from biological samples. DNA sequencing is used to determine the order of nucleotides in DNA.
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The following are some of the key trends that are expected to impact the molecular grade plates market in the coming years:
The increasing demand for molecular biology techniques is the key driver of the molecular grade plates market. Molecular biology techniques are used in a variety of applications, such as diagnostics, drug discovery, and research. The increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and infectious diseases, is driving the demand for molecular biology techniques for diagnosis and treatment. The growing focus on personalized medicine is also driving the demand for molecular biology techniques.
The growing focus on personalized medicine is another key trend that is expected to impact the molecular grade plates market in the coming years. Personalized medicine is a field of medicine that focuses on tailoring medical treatment to the individual patient. Molecular biology techniques play an important role in personalized medicine, as they can be used to identify genetic mutations that are associated with diseases.
The increasing demand for molecular biology techniques in research and development activities is also expected to impact the molecular grade plates market in the coming years. Molecular biology techniques are used in a variety of research and development activities, such as drug discovery and development, and genetic engineering. The increasing investment in research and development is expected to drive the demand for molecular grade plates.
Technological advancements are also expected to impact the molecular grade plates market in the coming years. Technological advancements in molecular biology techniques are leading to the development of new and improved molecular grade plates. These new and improved plates offer a variety of advantages, such as increased sensitivity, improved throughput, and reduced costs.
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The molecular grade plates market is segmented by type, application, end-user, and region. By type, the market is segmented into PCR plates, nucleic acid purification plates, and DNA sequencing plates. PCR plates are the largest segment of the market, accounting for the largest share of the market in 2022. The growth of this segment is attributed to the increasing demand for PCR-based tests for the diagnosis of various diseases, such as cancer, infectious diseases, and genetic disorders.
By application, the market is segmented into diagnostics, drug discovery, and research. The diagnostics segment is the largest segment of the market, accounting for the largest share of the market in 2022. The growth of this segment is attributed to the increasing use of molecular biology techniques for the diagnosis of various diseases, such as cancer, infectious diseases, and genetic disorders.
By end-user, The academic & research institutes segment is the largest segment of the market, accounting for the largest share of the market in 2022. The growth of this segment is attributed to the increasing use of molecular biology techniques in research and development activities.
By region, North America is the largest market for molecular grade plates, accounting for the largest share of the market in 2022. The growth of the market in North America is attributed to the presence of a large number of leading players in the region, such as Thermo Fisher Scientific, Agilent Technologies, and Qiagen.
Competitive Analysis
The molecular grade plates market is highly competitive, with several key players competing for market share. The market is characterized by the presence of both global and regional manufacturers offering a wide range of molecular grade plates to cater to the diverse needs of the research and biotechnology industry. The competitive landscape is influenced by factors such as product innovation, technological advancements, strategic partnerships, and mergers and acquisitions.
Here is a competitive analysis of some of the key players in the molecular grade plates market:
Thermo fisher scientific, Merck KGA, Bio-Rad, Takara Bio, Inc., QIAGEN N.V., Pall Corporation, Eppendorf Corporate, Tarsons, Applied Biological Applications Inc., Greiner AG, Brooks Life Sciences, Corning Incorporated, Cytiva, PerkinElmer Inc (Euroimmun AG)
Product Launches and Innovations:
In September 2022, Thermo Fisher Scientific introduced a new range of molecular grade plates with enhanced sealing capabilities and improved chemical resistance, designed to meet the evolving needs of molecular biology applications.
In April 2022, Corning Incorporated launched a high-throughput 1,536-well plate for next-generation sequencing (NGS) applications. The plate offers increased well density and improved sample handling efficiency.
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The molecular grade plates market is expected to continue to grow at a healthy pace during the forecast period, driven by the increasing demand for molecular biology techniques in various applications. The market is expected to be driven by the increasing prevalence of chronic diseases, the growing focus on personalized medicine, and the increasing demand for molecular biology techniques in research and development activities.
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