Global Microplate Systems Market 2023-2030

Global Microplate Systems Market 2023-2030

Global Microplate Systems Market Size, Share & Trends Analysis Report by Microplate Readers (Multi -Mode Readers, Filter-based Readers, Monochromator-based Readers, Hybrid readers, Single-Mode Microplate Readers, Fluorescence Plate Readers, Absorbance Plate Readers, Luminescence Plate Readers, Microplate Pipetting Systems and Dispensers, Microplate Washers, and Microplate Accessories & Software), by Application (Drug Discovery, Clinical Diagnostics, Genomics, Proteomics Research, and Others), and by End-User (Biotechnology & Pharmaceutical Companies, Hospitals & Diagnostic Laboratories, and Academic & Research Institutes), Forecast Period (2023-2030)

The global microplate systems market is anticipated to grow at a considerable CAGR of 4.8% during the forecast period (2023-2030). The market growth is attributed to increasing demand for high-throughput screening. Microplate readers are essential devices that allow for rapid and accurate testing, and are therefore used in the discovery and production of drugs. Accordingly, market players are coming up with new products to cater the demand for mini multi-mode microplate reader. For instance, in April 2022, Molecular Devices, LLC., and a company of Danaher Corp. launched its SpectraMax Mini Multi-Mode Microplate Reader. It is a space- and money-saving tool for researchers' workbenches. The SpectraMax Mini reader is robust enough to meet a lab's essential microplate reader needs, and its small size makes it perfect for integration into a large workstation with multiple instruments. The reader is built on the company's nearly four decades of experience delivering high-performance microplate reader technology to the market. Such developments are contributing to the market growth.

Segmental Outlook

The global microplate systems market is segmented based on the product, application, and end-user. Based on the product, the market is sub-segmented into microplate readers, multi-mode readers, filter-based readers, monochromator-based readers, hybrid readers, single-mode microplate readers, fluorescence plate readers, absorbance plate readers, luminescence plate readers, microplate pipetting systems and dispensers, microplate washers, and microplate accessories & software. Based on the applications, the market is sub-segmented into drug discovery, clinical diagnostics, genomics, proteomics research, and others. Further, on the basis of end-user, the market is sub-segmented into biotechnology & pharmaceutical companies, hospitals & diagnostic laboratories, academic & research institutes. Among the end-user, the biotechnology & pharmaceutical sub-segment is anticipated to hold a considerable share of the market owing to the rise in government funding for biotech and pharma research.

The Microplate Readers Sub-Segment is Anticipated to Hold a Considerable Share of the Global Microplate Systems Market

Among the products, the microplate readers sub-segment is expected to hold a considerable share of the global microplate systems market. The high demand for these system during testing procedure is a key factor contributing to the segmental market growth. In August 2023, Lonza has launched the Nebula Absorbance Reader, a newly developed absorbance microplate reader that expands the business's lineup of devices designed for speedy pyrogen and endotoxin testing. The Nebula Absorbance Reader is a high-performance, technologically enhanced replacement reader that produces results similar to those commonly obtained with the ELx808 and makes it easier to carry out ongoing pyrogen and endotoxin testing programs.

Regional Outlook

The global microplate systems market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the growing numbers of patients and an increase in diagnostic facilities that are driving regional market growth.

The North America Region is Expected to Grow at a Significant CAGR in the Global Microplate Systems Market

Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increasing technological developments in the healthcare sector and heightened public awareness are expected to contribute to market growth during the forecast period. Additionally, governments in numerous countries across the region are allocating substantial funds to health budgets to enhance public health and develop healthcare infrastructure facilities. For instance, according to the National Institute of Health, in 2022, it is estimated that 1,918,030 new cancer cases and 609,360 cancer deaths occur in the US. Additionally, lung cancer, that is the leading cause of cancer death, is projected to cause around 350 deaths per day.

Market Players Outlook

The major companies serving the Microplate Systems market include Berthold Technologies GmbH & Co. KG, Bio-Rad Laboratories, Inc., BMG LABTECH GmbH, Danaher Corp., Harvard Bioscience, Inc. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in December 2022, the acquisition of Cellesce Ltd (""Cellesce"") by Molecular Devices, LLC strengthens the company's position as a pioneer in 3D biology solutions. Combined knowledge substantially speeds up the industry's utilization of physiologically appropriate cell models for drug discovery.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global microplate systems market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.