The report “Microplate Systems Marketin terms of revenue was estimated to be worth $927 million by 2021 and is poised to reach $1,170 million by 2026, growing at a CAGR of 4.8% from 2021 to 2026. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. Growth of the market is driven mainly by the increasing R&D expenditure in the pharmaceutical industry, increasing focus on miniaturization, and the growing prevalence of diseases.

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The growth in this market is attributed to the increasing R&D expenditure in the pharmaceutical industry, increasing focus on miniaturization and the growing prevalence of disease.

DRIVER: Increasing R&D expenditure in the biopharmaceutical company

The pharmaceutical and biotechnology industries are among the major end users in the microplate systems market. Microplate systems find high use in modern drug discovery and development activities and genomic & proteomic research, as they increase the test speed and accuracy, thus saving time and enabling researchers to focus on core tasks. Consequently, the increasing pace of R&D in the pharmaceutical industry as evidenced by the rising expenditure in this area can be taken as a key growth driver for the market.

According to PhRMA, the R&D expenditure of PhRMA member companies in the US increased from ~USD 26.0 billion in 2000 to USD 58.8 billion in 2015. In Europe, the pharmaceutical R&D expenditure increased from USD 16.5 billion (EUR 17.8 billion) in 2000 to USD 45.6 billion (EUR 37.5 billion)

OPPORTUNITY: Growth in the pharmaceutical and biotechnology industries

In the last decade, the number of pharma companies has grown significantly, especially in the emerging markets. As of 2019, there are 1,131 publicly listed pharmaceutical and biotech companies across the Asia Pacific, indicating a significant presence of local as well as international players in the region.

According to the Pharmaceutical Research and Manufacturers Association (PhRMA), US firms conduct a majority of the world’s R&D in pharmaceuticals and hold the intellectual property rights to most new medicines. In addition, the biopharmaceutical industry has developed over 5,000 new medicines around the world, with ~3,400 compounds currently being studied in the US–more than in any other region around the world.

Microplate readers accounted for the larger share of the Microplate Systems Market in 2020

Based on the product, the microplate systems market is segmented into microplate readers, microplate pipetting systems and dispensers, microplate washers, and microplate accessories & software. In 2020, the microplate readers segment accounted for the larger share of the microplate systems market. The large share of this segment can be attributed to the increasing prevalence of diseases, the growing focus on drug discovery, and the rising R&D expenditure by pharmaceutical companies.

By application, the drug discovery segment accounted for the largest market share in 2020

Based on the application, the microplate systems market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and other applications. The drug discovery segment accounted for the largest market share in 2020. The need for high-/ultra-high-throughput screening and reduced time-to-market for drugs are major driving factors for this market.

Biotechnology & Pharmaceutical are the largest end-users of the microplate systems market

Based on end-users, the microplate systems market is segmented into biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, and academic & research institutes. The biotechnology & pharmaceutical segment accounted for the largest market share in 2020 due to increasing government support in the form of funding for biotech and pharma research.

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North America dominates the global microplate systems market

The microplate systems market is segmented into four major regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World. In 2020, North America accounted for the largest share of the microplate systems market. The large share of North America can be attributed to factors such as the government initiatives for cell-based research, the increasing acceptance of personalized medicine, increasing academic and government investments in diagnostic research, and increasing focus on drug discovery and development.

Key Market Players

The microplate systems market is highly consolidated and is dominated by various players. The major players operating in this market are Bio-Rad Laboratories Inc. (US), PerkinElmer (US), Danaher Corporation (US), Thermo Fisher Scientific (US), Agilent Technologies Inc. (US), Tecan (Switzerland), BMG Labtech (Germany), Promega Corporation (US), Enzo Life Sciences Inc. (US), Berthold Technologies (Germany), Biochrom (UK), Corning (US), Lonza (Switzerland), Brucker Corporation (US), Dynex Technologies (US), Bio-One International GmbH (Austria), Accuris Instruments (US), CTK Biotech Inc. (US), LTEK (South Korea), JASCO (Japan), Rayto (China), Micro Lab Instruments (India), Biohit Oyj (Finland), Mindray (China), and Hudson Robotics (US).

Scope of the Reports:

Application:

• Drug Discovery
• Clinical Diagnostics
• Genomics and Proteomics Research
• Other Applications

Recent Developments:

• In 2020, Agilent Technologies Inc. launched the BenchCel Microplate Handler
• In 2019, Agilent Technologies Inc. acquired BioTek Instruments to strengthen its product portfolio

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