Market Size of Microplate Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Microplate Systems Market Analysis
The microplate systems market is projected to register a CAGR of 4.3% during the forecast period.
- The COVID-19 pandemic significantly impacted the growth of the microplate systems market, primarily due to the increased development of microplate systems for the diagnosis of COVID-19. The high demand for accurate diagnosis led to the utilization of microplates in detecting COVID-19 antibodies, which significantly impacted the market growth during the pandemic. For example, in July 2020, Dia. Pro Diagnostics Bioprobes SRL launched four EIA microplate kits for the detection of COVID-19 antibodies in human serum and plasma.
- In the post-pandemic situation, the microplate systems market is anticipated to witness growth due to the adoption of a wide range of assays and the introduction of AI-enabled microplate systems for advanced biochemical processes.
- The market's growth is expected to be fueled by increasing R&D investment by companies, particularly in proteomics and genomics, the rise in laboratory testing for chronic disease, and technological advancements in microplates. For instance, in May 2022, researchers developed an automated high-throughput efficient microplate reader (AHTEMR) platform by engineering a combination of a spectrometer and a high-precision ball screw two-dimensional motion slide for high-throughput and full-spectrum-required biochemical assays. Such advancements in microplate systems are anticipated to boost market growth.
- Furthermore, the rise in laboratory tests taken by chronic disease patients is likely to be a growth factor for the market expansion. For example, a retrospective, descriptive multi-center study published in the December 2022 Nature Journal included a huge sample of ICU patients and found that the frequency of routine laboratory tests conducted during the first eight days of an ICU stay was relatively high. Hence, the increase in laboratory tests is anticipated to utilize microplate systems and increase market growth.
- Moreover, increasing R&D investment by companies, particularly in proteomics and genomics, is one of the significant factors driving the market's growth. For example, in 2022-23, the Department of Scientific and Industrial Research (DSIR) allocated about USD 683.1 thousand (INR 5,636 crores), out of which 99% of the allocation was towards the Council of Scientific and Industrial Research (CSIR). The Department of Biotechnology (DBT) was allocated USD 312 thousand (INR 2,581 crore) in 2022-23. Additionally, increasing product launches are expected to contribute to the market's growth over the forecast period. For instance, in February 2022, BMG Labtech launched the VANTAstar microplate reader for ease of use and flexibility for a wide range of applications in basic research and life sciences.
- However, the rising cost of advanced microplate systems and a lack of awareness about novel techniques in developing regions are restraining factors for the market's growth during the forecast period.
Microplate Systems Industry Segmentation
As per the scope of the report, the microplate is a plate with wells acting as test tubes. Microplates are used widely as an analytical tool in laboratories and clinical diagnostics.
The microplate systems market is segmented by product type (single-mode microplate readers (fluorescence plate readers, absorbance plate readers, luminescence plate readers), multi-mode microplate readers (filter-based readers, monochromator-based readers, hybrid readers), microplate pipetting systems and dispensers, microplate washers, and others), application (genomics and proteomics research, drug discovery, clinical diagnostics, and other applications), end-user (hospital and diagnostic laboratories, biotechnology and pharmaceutical companies, and research and academic institutes) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally.
The report offers the value (in USD million) for the above segments.
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| Microplate Pipetting Systems and Dispensers | |||||
| Microplate Washers | |||||
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| Genomics and Proteomics Research | |
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| Clinical Diagnostics | |
| Other Applications |
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| Hospital and Diagnostic Laboratories | |
| Biotechnology and Pharmaceutical Companies | |
| Research and Academic Institutes |
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Microplate Systems Market Size Summary
The microplate systems market is poised for steady growth, driven by advancements in technology and increased applications across various sectors. The market experienced a significant boost during the COVID-19 pandemic due to the heightened demand for diagnostic tools, particularly for antibody detection. This surge in demand led to the development and launch of innovative microplate systems, such as EIA microplate kits, which played a crucial role in diagnosing COVID-19. Post-pandemic, the market is expected to expand further with the integration of AI-enabled systems and the adoption of diverse assays. The growth is supported by rising investments in research and development, especially in proteomics and genomics, alongside technological advancements that enhance the efficiency and accuracy of biochemical processes. The increasing frequency of laboratory tests for chronic diseases also contributes to the market's expansion, as microplate systems become integral in these testing procedures.
In addition to diagnostic applications, microplate systems are gaining traction in drug discovery and traditional medicine studies, which are expected to significantly impact market dynamics. The drug discovery segment, in particular, is anticipated to hold a substantial market share due to the growing number of research activities and the application of microplate systems in identifying and measuring biological substances. The North American region is projected to maintain a significant market presence, bolstered by advanced laboratory testing facilities and increased pharmaceutical research funding. The competitive landscape of the market is characterized by the presence of both international and local players, who are actively engaging in strategic initiatives such as product launches, mergers, and collaborations to enhance their market position. These efforts, coupled with the ongoing innovation in microplate technology, are expected to drive the market's growth over the forecast period.
Microplate Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing R&D Investment by Companies, Especially in Proteomics & Genomics
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1.2.2 Increasing Laboratory Testing Due to Rise in Chronic Diseases
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1.2.3 Technological Advancement in Microplate Systems, like Automation
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1.3 Market Restraints
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1.3.1 High Cost of Microplate Systems
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1.3.2 Lack of Awareness About the Novel Techniques in Developing Regions
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product Type
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2.1.1 Single-Mode Microplate Readers
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2.1.1.1 Fluorescence Plate Readers
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2.1.1.2 Absorbance Plate Readers
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2.1.1.3 Luminescence Plate Readers
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2.1.2 Multi-Mode Microplate Readers
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2.1.2.1 Filter-Based Readers
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2.1.2.2 Monochromator-Based Readers
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2.1.2.3 Hybrid Readers
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2.1.3 Microplate Pipetting Systems and Dispensers
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2.1.4 Microplate Washers
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2.1.5 Other Product Types
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2.2 By Application
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2.2.1 Genomics and Proteomics Research
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2.2.2 Drug Discovery
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2.2.3 Clinical Diagnostics
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2.2.4 Other Applications
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2.3 By End-User
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2.3.1 Hospital and Diagnostic Laboratories
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2.3.2 Biotechnology and Pharmaceutical Companies
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2.3.3 Research and Academic Institutes
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2.4 By Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Microplate Systems Market Size FAQs
What is the current Microplate Systems Market size?
The Microplate Systems Market is projected to register a CAGR of 4.30% during the forecast period (2024-2029)
Who are the key players in Microplate Systems Market?
Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Thermo Fisher Scientific Inc, Danaher Corporation (Molecular Devices) and Shenzhen Mindray Bio-Medical Electronics Co., Ltd. are the major companies operating in the Microplate Systems Market.
