Dublin, March 23, 2023 (GLOBE NEWSWIRE) -- The "Microplates Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2023 to 2031" report has been added to ResearchAndMarkets.com's offering.
The microplates market is set to register a CAGR of 4.2% during the forecast period from 2023 to 2031.
Over the past two decades, there has been a discernible increase in the use of microplates in the biopharmaceutical business. This is because their applications have become increasingly sophisticated. During the stages of drug discovery and development, researchers frequently make use of microplates to extract precise results and perform important micro tests.
The procedure for conducting analytical tests on biological samples has been subject to a plethora of recent shifts. Miniaturized assays may now be carried out, which makes it possible to screen a large number of samples in a very short length of time and at a much lower cost.
Increasing Prevalence of Chronic Diseases and Market for Clinical Diagnostics
In 2021, the clinical diagnostics market was worth approximately US USD 70 billion, and it is anticipated that it would reach US$ 99 billion by 2027, registering a CAGR of 6% from 2022 to 2027. The growing prevalence of infectious and chronic diseases, as well as the expanding use of automated platforms, are factors that are anticipated to contribute to the expansion of the market.
According to the Non-communicable Diseases, Key Facts report that was published by the World Health Organization (WHO), by April 2021, chronic diseases will be responsible for the deaths of approximately 41 million people every year. This figure is equivalent to 71% of all deaths that occur across the globe. The demand for healthcare systems is growing in parallel with the prevalence of chronic diseases due to which they are caused. Therefore, clinical diagnostics are useful in the management of chronic disease situations, as well as in the prevention, detection, and treatment of disease. Clinical diagnostics contribute to the detection of early warning signals and specific risk factors, so opening up new potential for early intervention and prevention. As a result, it is anticipated that the rising prevalence of chronic diseases would drive the market for clinical diagnosis.
Expansion Of the Biopharmaceutical Industry
The release of novel biologics, vaccines, and proteins, all of which need high throughput screening and high content analysis, will have a substantial impact on the market for microplates. Manufacturing and distribution of biopharmaceuticals are expanding around the globe, particularly in less developed nations, in response to the growing demand for biologics as a treatment modality. The biopharmaceutical industry as a whole is predicted to expand at a consistent rate over the period covered by the forecast, and there are currently no major challenges on the horizon.
384-well microplates Dominate the Market by Product Type
Concerning the type of microplates, the 384-well microplates were the largest market in 2022 contributing to over 40% of the revenue share. Their capacity to carry out miniature gene transfer experiments is the defining characteristic that contributes most significantly to their preeminence. This assists in minimizing the cost that is paid throughout the procedures of the experiment, and at the same time, it gives a high throughput during the transfection of immortalized and primary cells in contrast to other microplates.
Cell Culture Dominates the Application Segment
Research techniques such as the discovery of disease targets, drug assessment, and gene characterization extensively apply cell culture as a fundamental and standard methodology. The nature of this process is complex; nonetheless, it is significantly easier to access, less expensive, and comparatively time and labor efficient than in vivo research approaches, and it also has fewer ethical considerations. Cell culture can be carried out at a large scale with the assistance of huge bioreactors, or it can be carried out at a small size with the assistance of multiwall plates. The use of microplates in cell culture models is gaining popularity because these models enable the analysis of a multitude of dynamic variables, which in turn enables increased experiment output while simultaneously lowering the amount of time and money required for the experiment.
The innovative microplates with a high throughput also make it possible to conduct organotypic cell culture and 3D cell culture easily and simply. When it comes to the shape of the wells, traditional 2D adherent cell cultures are best performed in F-bottom microplates. This is especially true for situations in which spectrophotometric readings or culture imaging are necessary. Therefore, cell culture dominated the application market in 2022 by contributing about 32.7% of the revenue share.
North America Remains as the Global Leader
North America currently held the largest revenue share in the global microplates market in 2022 contributing to about 30.4%. The rising prevalence of chronic and acute disease conditions in North America, as well as the widespread availability of healthcare facilities for prompt diagnosis and treatment, are the key drivers boosting market revenues in this region. This region is also expected to maintain its leading position throughout the forecast period.
Another factor contributing to the expansion of the market in this region is the increasing trend of automation in biolaboratories. It is anticipated that the Asia-Pacific region would experience significant market expansion throughout the projected period. This occurs as a result of the rapid growth of the infrastructure of healthcare and the increased investments in research and development of biotechnology and medicines. The growing outsourcing of biotechnology contract research processes is also among the key drivers.
Market Segmentation
Type
- 96 Well Microplates
- 384 Well Microplates
- 1536 Well Microplates
- Others
Application
- Cell Culture
- Adherent Cell Culture
- Non-Adherent/suspension Cell Culture
- Screening and UV/VIS Spectroscopy
- Immunology (ELISA, FIA, LIA, Covalent binding, etc)
- Storage
- Other Microscopy (High content screening, microscopic applications, high magnification, etc)
Base Material
- Polystyrene
- Polypropylene
- Cycloolefin
Pigmentation
- Black
- White
- Clear
Well Design
- F Bottom
- C Bottom
- U Bottom
- V Bottom
- HA Microplate
- Hybrid Microplate
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Microplates market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2031.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Microplates market?
- Which is the largest regional market for Microplates market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Microplates market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Microplates market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Microplates Market: Competitive Analysis
4. Microplates Market: Macro Analysis & Market Dynamics
5. Microplates Market: By Type, 2021-2031, USD (Million)
6. Microplates Market: By Application, 2021-2031, USD (Million)
7. Microplates Market: By Base Material, 2021-2031, USD (Million)
8. Microplates Market: By Pigmentation, 2021-2031, USD (Million)
9. Microplates Market: By Well Design, 2021-2031, USD (Million)
10. Geographic Analysis
11. North America Microplates Market, 2021-2031, USD (Million)
12. UK and European Union Microplates Market, 2021-2031, USD (Million)
13. Asia Pacific Microplates Market, 2021-2031, USD (Million)
14. Latin America Microplates Market, 2021-2031, USD (Million)
15. Middle East and Africa Microplates Market, 2021-2031, USD (Million)
16. Company Profile
Companies Mentioned
- Greiner Bio One International GmbH
- Corning Incorporated
- Thermo Fisher Scientific Inc
- Eppendorf AG
- PerkinElmer Inc
- Becton
- Dickison and Company
- QIAGEN N.V
- Avantor Inc
- SPL Life Sciences
- Porvair Sciences Limited
- Berthold Technologies GmbH & Co. KG
- Hirschmann Laborgerate GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/aji8al
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