Dublin, March 25, 2022 (GLOBE NEWSWIRE) -- The "Microplate Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Microplate Systems Market to Reach $1.1 Billion by 2026
The global market for Microplate Systems estimated at US$881.1 Million in the year 2020, is projected to reach a revised size of US$1.1 Billion by 2026, growing at a CAGR of 4.5% over the analysis period.
Microplate systems is a growing market driven by factors such as increasing incidence of infectious and chronic diseases, as well as accelerated demand for automated biochemical and cell-based assays by the biotechnology industry. The coronavirus outbreak and the ensuing rise in lab testing is driving demand for microplate systems.
Readers, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$708.9 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pipetting Systems & Dispensers segment is readjusted to a revised 3.6% CAGR for the next 7-year period. This segment currently accounts for a 27% share of the global Microplate Systems market.
Washers Segment to Reach $125.1 Million by 2026
Microplate washers are instruments used to clean the overrun liquid from microwell plates while testing. Washers are vital laboratory equipment, as various formats of these are invariably required for running certain assays.
The U.S. Market is Estimated at $351.1 Million in 2021, While China is Forecast to Reach $160.7 Million by 2026
The Microplate Systems market in the U.S. is estimated at US$351.1 Million in the year 2021. The country currently accounts for a 37.66% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$160.7 Million in the year 2026 trailing a CAGR of 8.2% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR while Rest of European market (as defined in the study) will reach US$169.7 Million by the end of the analysis period. Increasing prevalence of several chronic diseases is driving demand for advanced diagnostic equipment, including microplate systems.
Growth is also benefiting from rising demand from biotech firms for automated cell-based as well as biochemical assays, growing funding for laboratories, intensifying government initiatives in both developed and developing nations for adopting automated and sophisticated diagnostics in the healthcare sector, and favorable reimbursement policies in developed economies..
Other equally important growth factors include growing investments in R&D activities in genomics and proteomics domains; increasing usage of immunoassays in the development of innovative therapies for combating various diseases; increasing usage of single-mode and hybrid microplate systems in immunoassays; and integration of microplate systems with various other automation technology in the healthcare sector.
Persistent industry focus on the miniaturization trend for diagnostic assays, and the development of high-throughput assays are likely to offer significant growth opportunities for microplate systems market.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 and a Looming Global Recession
- COVID-19 Leaves the World in Shambles & Industries and Markets Upended
- Overwhelming COVID-19 Testing Volumes Elevate Demand for Laboratory Systems & Supplies
- COVID-19 Outbreak Impacts Clinical Trials and Drug Development
- Impact on Microplate Systems Market
- COVID-19 Testing: A Vital Opportunity for Pipetting Systems
- Covid-19 Vaccines Research: Another Growth Avenue
- An Introduction to Microplate Technology
- Historical Timeline of Microplates and Peripheral Instrumentation Development
- Microplate Systems: A Prelude
- Manufacturing Process and Materials
- Microplate Readers
- Multi-Mode Microplate Readers and Their Advantages
- Ranking of Factors Considered While Purchasing a Microplate Reader
- Single-Mode Plate Readers
- Microplate Pipetting Systems and Dispensers
- Microplate Washers
- Microplate Washers for ELISA Applications
- A Review of End Use Application Market
- Major Fields of Science Using Microplates
- Market Driven by Drug Discovery
- The Drug Discovery Process
- High-Throughput Screening and Drug Discovery
- The Evolution of HTS
- Global Market Prospects & Outlook
- Developed Markets at the Vanguard, Emerging Regions Gather Pace
- Microplate Readers Garner a Larger Pie
- North America Leads the Global Microplate Readers Market
- Microplate Washers Market: US, A Key Region
- Drug Discovery Segment: Fastest Growing Application
- Hospital & Diagnostic Laboratories: The Largest End Use Segment
- Competitive Scenario
- Recent Market Activity
- Select Technological Innovations
- Competition in the Microplate Readers Market
2. FOCUS ON SELECT PLAYERS (Total 155 Featured)
- Agilent Technologies, Inc.
- Berthold Technologies GmbH & Co. KG
- Bio-Rad Laboratories, Inc.
- Biochrom Ltd.
- BioTek Instruments Inc.
- BMG LABTECH GmbH
- Corning Incorporated
- Danaher Corporation
- Molecular Devices, LLC
- Lonza Group AG
- PerkinElmer, Inc.
- Promega Corporation
- Rayto Life and Analytical Sciences Co., Ltd.
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd.
- Tecan Group Ltd.
- Thermo Fisher Scientific, Inc.
3. MARKET TRENDS & DRIVERS
- Microplate Instrumentation: The Laboratory Workhorse
- Increasing R&D Spending in the Pharmaceutical Industry Benefits Microplate Systems Market
- Rising Prevalence of Infectious Diseases and Growing Need for Clinical Diagnostics Driving Growth in Global Microplate Systems Market
- Burgeoning Population & Rising Incidence of Chronic Diseases Favor Market Growth
- Aging Demographics Add to the Global Burden of Chronic Diseases, Presenting Market Opportunities
- Improving Healthcare Expenditure to Turbo Charge Future Growth of the Market
- Uptrend in IVD Market Augments Demand
- Market to Gain from Growing Emphasis on Analytical Research
- Importance of ELISA Bodes Well for Market Expansion
- Growing Emphasis on Laboratory Automation Accelerates Growth
- Microplate Readers in the Realm of Growing Applications and Advancing Technologies
- Microplate Readers: Redrawing Research Landscape
- Microplate Reader Modes
- Flexibility and Throughput: Key to Microplate Reader Superior Performance
- Augmented R&D Initiatives and Emergence of HTS Drive Demand for Microplate Readers
- Multi-Mode Microplate Readers to Witness Stronger Growth
- Upgradability Driving Evolution of Multimode Microplate Readers
- Fluorescence and Luminometers Gain at the Expense of Absorbance Readers
- Innovations in Fluorescence Technologies
- Technological Advances Improve Sophistication Quotient of Microplate Readers
- Environmental Control in Readers: Expanding Applications to Live Cell Assays
- Strong Demand Anticipated for Automated Microplate Washers Owing to Work Efficiencies Provided
- High-End Microplate Washers Offer Enhanced Capabilities
- Automated Microplate Washers Gain Popularity
- Touch Technology in Microplate Washers on the Rise
- Rising Popularity of Bead-Based Assays Drives Innovation in Microplate Washers
- High Maintenance Cost Restricts Anticipated Growth
- Microplate Handlers - Easing Microplate Workflow
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/u12e2s
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