Microplate Systems Market is Prospering Owing to the Rising Burden of Infectious Diseases all over the world
The global Microplate Systems Market is expected to exceed the market valuation of more than US$ xx million by 2027 expanding at a reasonable CAGR of xx% during the forecast period (2021-2027). Microplate Systems are widely employed in laboratories for the measurement of chemical, biological or physical reactions, properties, and analytes within the well of a microplate.
The demand for Microplate Systems is mainly increasing on account of the increasing incidence of chronic and lifestyle disorders, increasing R&D expenditure in the pharmaceutical industry, and increasing focus on miniaturization. Moreover, the rising incidence of infectious diseases led to the high demand for lab testing, and better reimbursement policies are further intensifying the market demand. For instance, as per WHO, TB is one of the top 10 causes of death and a total of 1.4 million people died from Tuberculosis in 2019.
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The rise of the COVID-19 has increased the demand for Microplate Systems due to the high contribution of the pharmaceutical and biotechnology industries in controlling the spread of the virus by providing essential drugs, vaccines, kits, and other supplies. The rising establishment of pharmaceutical and biopharmaceutical companies and small start-ups during the pandemic is further intensifying the market growth.
Based on Product, the market is fragmented into Microplate Reader, Microplate Washer, and Microplate Accessories. Microplate Reader segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the rising prevalence of chronic diseases, the growing focus on drug discovery, and the increasing R&D expenditure by pharmaceutical companies. As per Breastcancer.org, women in the U.S., are more prone to breast cancer deaths than those for any other cancer. Around 43,600 women in the U.S. are expected to die in 2021 from breast cancer.
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Based on Application, the market is fragmented into Genomics and Proteomics Research, Drug Discovery, Clinical Diagnostics, and Other Applications. The drug discovery segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period due to the need for high-throughput screening techniques in computer-aided drug designs and to reduce the timeline of the development of the new drug. Furthermore, the introduction of AI and machine learning in drug discovery has improved the drug discovery outputs, by allowing to derive the hidden data patterns. For instance, a bioinformatics startup Deep Genomics started in 2015, developed new machine learning methods that can find patterns in massive datasets and infer computer models of how cells read the genome and generate biomolecules.
Based on End-user, the market is fragmented into Hospital and Diagnostic Laboratories, Biotechnology, and Pharmaceutical Companies, Research and Academic Institutes. The biotechnology and pharmaceutical segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period owing to the increasing government support in the form of funding for biotech and pharma research. Through understanding of genomic information, biotechnology and pharmaceutical companies are now able to produce targeted therapies that affect pathogens or cancer cells, but which do not damage healthy body cells. Before targeted therapies are administered, they usually require genetic screening to ensure that patients are not at risk. For instance, in the UK, GlaxoSmithKline, Roche, AstraZeneca, Biogen, AbbVie, and others are reportedly working with Genomics England on their project to sequence 100,000 genomes from 70,000 NHS patients with rare diseases and cancer.
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For a better understanding of the market adoption of Microplate Systems, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Microplate Systems market on account of the rising government initiatives for cell-based research, the high adoption of personalized medicine, rising academic and government investments in diagnostic research, and the high number of biotech companies in the US region coupled with their increasing focus on the research and development of new drugs. For instance, Agilent Technologies founded in 1999 in the United States is a life science solutions provider. It offers application-focused solutions that include instruments, software, services, and consumables for the entire laboratory workflow. The Company serves the life sciences, diagnostics, and applied chemical markets. It has three business segments: life sciences and applied markets business, diagnostics, and genomics business, and Agilent CrossLab business. Some of the major players operating in the market include Abbott Laboratories, Becton, Dickinson, and Company, Biomerieux SA, Carestream Health, Hoffmann-La Roche AG, GE Healthcare, Hologic, Inc., Koninklijke Philips N.V., Mankind Pharma, and Siemens AG. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
Global Microplate Systems Market Segmentation
Market Insight, by Product
- Microplate Reader
- Microplate Washer
- Microplate Accessories
Market Insight, by Application
- Genomics and Proteomics Research
- Drug Discovery
- Clinical Diagnostics
- Other Applications
Market Insight, by End-user
- Hospital and Diagnostic Laboratories
- Biotechnology and Pharmaceutical Companies
- Research and Academic Institutes
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- Thermo Fisher Scientific
- Agilent Technologies Inc.
- BMG Labtech
- Promega Corporation
- Enzo Life Sciences Inc.
- Berthold Technologies