Microplate Systems Market to Reach Valuation of USD 1163.6 Billion by 2028 – Rising Geriatric Population and Increasing Number of Disorders Drives the Market

In terms of revenue, the Global Microplate Systems Market is expected to reach USD 1163.6 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.20% from 2022 to 2028.

The increase in the occurrence of different disorders such as neurological & cardiac disease, and cancer, to name a few. is expected to bolster the growth of the Microplate Systems Market. In addition, the growing incidences of chronic & infectious diseases in several countries are propelling the growth of the Microplate Systems Market in coming years.

Key Highlights from Report:

· The Microplate Readers segment is expected to dominate the Microplate Systems Market expansion during the forecast period. The rising prevalence of diseases, the increased emphasis on drug discovery, and rising Research and Development (R&D) expenditure by pharmaceutical corporations are some of the major drivers propelling the expansion of the Microplate SystemsMarket.

· The Hospitals & Diagnostic Laboratories segment accounted mention the potential growth of the Microplate Systems Market in 2021. The demand for diagnostic centers is increasing owing to the causes such as increased cancer, neurological illnesses, influenza, and viral and infectious diseases around the world, which promote industry growth.

· North America holds the largest share of the Microplate Systems Market and is expected to continue this trend during the forecast period. This surge is accelerated owing to the increasing government initiatives for cell-based research in this region.

Market Dynamics:

The increasing pharmaceutical businesses in emerging countries are fueling the demand for the Microplate Systems Market. For instance, there are around 1,131 publicly listed pharmaceutical and biotech businesses in the Asia Pacific, indicating the region's considerable presence of domestic and foreign competitors. Additionally, the growing focus on drug discovery, the rising Research and Development (R&D) expenditure by pharmaceutical companies, and the increasing prevalence of diseases are augmenting the significant growth of the Microplate Systems Market. Furthermore, the modern drug discovery & development processes and genomic & proteomic research heavily rely on microplate systems as they improve test speed and accuracy, freeing up time and allowing researchers to concentrate on their primary objectives. This resulted in significant growth in the pharmaceutical industry.
North America is expected to dominate the growth of the Microplate Systems Market in 2021. The surge can be attributed to the government initiatives for cell-based research, rising acceptance of personalized medicine, rising academic & governmental investments in diagnostic research, and rising emphasis on drug discovery & development in this region. In addition, the presence of major players in the region is one of the major factors driving the growth of the Microplate Systems Market in the region.

The Global Microplate Systems Market is Segmented as follows:

• Product
  • Microplate Readers
  • Microplate Pipetting Systems & Dispensers
  • Microplate Washers
  • Microplate Accessories & Software
• Application
  • Drug Discovery
  • Clinical Diagnostics
  • Genomics & Proteomics Research
  • Others
• End User
  • Biotechnology & Pharmaceutical Companies
  • Hospitals & Diagnostic Laboratories
  • Academic & Research Institutes
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Microplate Systems Market is:

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), Hudson Robotics (US)

The Global Microplate Systems Market Scope can be tabulated as below: