Microplate Systems Market Size, Share, Industry Trends and Forecast to 2030

Microplate Systems Market Size & CAGR in 2021:

The global microplate systems market is projected to witness a substantial growth rate with a CAGR of 5.8% during the forecast period from 2021 to 2028. The market size is expected to reach USD 1.2 billion by 2028, showcasing a significant increase from the base year of 2021.

COVID-19 Impact on the Microplate Systems Market:

The COVID-19 pandemic has had both positive and negative effects on the microplate systems market. On one hand, the increased focus on research and development activities to combat the virus has led to a surge in demand for microplate systems for various diagnostic and testing purposes. On the other hand, disruptions in the supply chain and reduced funding for non-COVID related research have hindered market growth to some extent.

Microplate Systems Dynamics:

The microplate systems market is driven by factors such as increasing prevalence of chronic diseases, growing adoption of automated systems in laboratories, and rising investment in drug discovery and development. Technological advancements in microplate systems, such as multi-mode detection and high-throughput screening capabilities, are also propelling market growth.

Segments and Related Analysis:

The microplate systems market can be segmented based on type, application, end-user, and region. By type, the market is categorized into absorbance microplate readers, fluorescence microplate readers, and luminescence microplate readers. In terms of application, the market includes drug discovery, clinical diagnostics, genomics, proteomics, and others. The key end-users of microplate systems are pharmaceutical & biotechnology companies, academic & research institutes, and hospitals & diagnostic laboratories.

By Region Analysis:

The global microplate systems market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market due to the presence of major pharmaceutical companies and research institutes. However, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, driven by increasing investment in healthcare infrastructure and rising research activities.

Key Market Players and Competitive Landscape:

Some of the key players in the microplate systems market include Thermo Fisher Scientific, Bio-Rad Laboratories, PerkinElmer, Tecan Group, and BMG LABTECH. These companies are focused on product innovations, strategic partnerships, and acquisitions to maintain their market position and gain a competitive edge.

Recent Happenings in the Microplate Systems Market:

- In January 2021, Thermo Fisher Scientific launched the Varioskan LUX multimode microplate reader, offering advanced features for research applications. - In March 2021, BioTek Instruments introduced the new BioSpa Live Cell Imaging System for automated live cell imaging and analysis. - In August 2021, BMG LABTECH announced the release of the CLARIOstar Plus microplate reader, expanding its portfolio of high-performance instruments for life science research.