(PharmaNewsWire.Com, May 01, 2020 ) The growth of microplate system market is mainly driven by growing prevalence of diseases, increasing focus on minituarisation of processes, technological advancements, and increasing R&D expenditure in the pharmaceutical industry.
The global microplate system market is expected to reach USD 996.9 Million by 2022 from USD 820.3 Million in 2017 at a CAGR of 4.0%.
The Drug Discovery Application to Dominate The Global Microplate System Market:
Based on application, the market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and other applications (cell biology, food testing, and environmental monitoring). The drug discovery segment is estimated to hold the largest share of the microplate systems market in 2017. It is expected to register the highest CAGR during the forecast period. The need for high-/ultra-high-throughput screening and reduced time-to-market for drugs are the major drivers for the growth of the drug discovery segment.
Browse 106 tables and 33 figures spread through 147 pages and in-depth TOC on "Microplate Systems Market by Product (Microplate Reader (Multi-mode {Hybrid}, Single-mode), Dispenser, Software), Application (Research, Clinical Diagnostics) & End User (Biotechnology, Pharmaceutical, Hospital, Diagnostic Labs).
The microplate readers segment is expected to dominate the market in 2017
Based on product, the market is segmented into microplate readers, microplate pipetting systems and dispensers, microplate washers, and other products. In 2017, microplate readers segment is expected to account for the largest share of the microplate systems market as it is used in various applications such as investigation of new drug targets in the early stages of drug discovery as well as in research, bioassay validation, QC, and for the detection of biological, chemical, or physical processes in samples contained in microtiter plates.
The Objective of Research is as Follows:
1. To define, describe, and forecast the global microplate systems market on the basis of product, application, end user, and region.
2. To provide detailed information regarding the major factors influencing the growth of the market (drivers, opportunities and industry-specific challenges).
3. To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
4. To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for the market leaders.
5. To forecast the size of the market with respect to five regions: North America, Europe, Asia Pacific, and the Rest of the world.
North America is expected to dominate the market, followed by Europe. The high growth of the North American market is attributed to factors such as rising government funding for medical research and the need for early drug discovery, technological advancements, improving FDA approval levels and a positive sales outlook (allowing pharmaceutical companies to allocate more capital to R&D spending), rising prevalence of chronic and infectious diseases and increasing rising population. While North America is expected to dominate the market in 2017, Asia Pacific is expected to register the highest CAGR during the forecast period.
Key Players:
The microplate system market is highly competitive with the presence of several small and big players. Prominent players in this market include BioTek (US), Danaher (US), PerkinElmer (US), Tecan (Switzerland), Thermo Fisher (US), BMG LABTECH (Germany), BERTHOLD (Germany), Agilent (US), Bio-Rad (US), Promega (US), Biochrom (UK), Corning (US), Lonza (Switzerland), Rayto (China), and Mindray (China).
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