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Microplate Systems Market Size
Microplate Systems Market size is expected to witness significant growth from 2024 to 2032, driven by the continual developments in microplate absorbance reader technology for lab applications, varying from ELISAs to cell imaging. Moreover, the increased R&D expenditure across the pharmaceutical sector will significantly contribute to industry revenues over the coming years.
There is an increasing adoption & application of microplates, also known as microtiter plates, in pharmaceutics, molecular biology, diagnostics, therapeutics, and biomedical studies. Essentially consisting of a glass plate with multiple sealed wells arranged in a rectangular matrix, this system has found extended usage in cell culture, sample filtration, assays, and quantification of nucleic acids and proteins.
Microplate Systems Market Trends
The increasing burden of infectious diseases and the inflowing investment in medical research in nations such as U.S. are among the key factors influencing industry trends through 2032. The expansion of the patient population and the rising utilization of microtiter plate readers as an essential tool in virology research propels the product sales. Further, the rising production of liquid handlers facilitating miniaturized or low-volume genotyping reactions with zero cross-contamination in source wells will contribute substantial momentum to the microplate systems industry in the upcoming years.
However, the increasing inflation levels have severely impacted the global economy and may limit people’s expenditure on health and wellness. In addition, the ongoing war crisis between Ukraine and Russia has posed various challenges for the healthcare sector in both countries. With inflation expected to attain new heights and the war seeming to reach new dimensions, the microplate systems industry may experience a slight setback in the coming years.
Microplate Systems Market Analysis
Single-mode microplate readers segment is expected to generate notable revenues during 2024 and 2032, favored by the escalating development of innovative products backed by the increasing utilization of single-mode microplate readers in several biological detection techniques. Besides, the availability of these devices in a range of analytical models offering enhanced precision.
The clinical diagnostics segment is anticipated to hold a decent share of the microplate systems industry by 2032. The microplate instrumentation ensure high efficiency and performance for improved clinical diagnostic workflows. Additionally, the commendable increase in the number of diagnostic and medical laboratories in the U.S. will further propel the product deployment.
Asia Pacific microplate systems market is slated to grow significantly through 2032, backed by the high burden of infectious diseases and the favorable business landscape for biopharma companies in China, Japan, and other countries. In November 2023, Simcere Pharmaceutical Group Limited entered an exclusive license and collaboration agreement with Connect Biopharma HongKong Limited concerning Rademikibart, an innovative IL-4Rα monoclonal antibody.
Microplate Systems Market Share
Key industry players include:
- Corning
- Berthold Technologies
- Tecan
- Rayto
- Thermo Fisher Scientific
- Promega
- PerkinElmer
- Bio-Rad
- Mindray
- Lonza
- Bmg Labtech
- Biochrom
- Beckman Coulter.
These companies are focusing on new product launches and business expansion strategies to increase their footprint in the global market.
Microplate Systems Industry News
- In March 2023, Stevanato Group S.p.A. a prominent global supplier of drug containment and delivery solutions to the pharmaceutical, biotechnology, and life sciences sectors, collaborated with Thermo Fisher Scientific, to introduce a fully integrated on-body delivery system platform for subcutaneous administration.