Focus on Research to Revive Pharma Boosting the Microplate Market to a CAGR of 4.2%

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The microplates market is set to reach US$ 1268.5 Mn by 2029 from US$ 729.7 Mn in 2019 at a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2021 to 2029.  Microplates have been crucial in the last 2 decades during the drug discovery and development studies. They possess the quality of providing valuable data by performing accurate screening of biological molecules under investigation. Pigmentation of well microplates ensures its application and compatibility with different analytical techniques utilized during the high throughput screening and high content analysis of biological samples. White microplates are presently reining the pigmentation segment for microplates market. The chief contributing factors for its superiority over other pigments are its inherent properties of such as light scattering with low background luminescence increases its application in confocal and electron microscopy imaging of cell and tissue culture studies. Black pigment microplates are widely employed in fluorescence assays owing to its ability to reduce the autofluorescense and well to well crosstalk. Clear well microplates on account of its excellent planarity is the material of first choice while conducting cell apoptosis studies and angiogenesis featured by cell culture studies during the mitotic cell division.

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New technologies have vital value as they enable and allow simpler assay development and further removal of non-relevant or specific compounds. While new technologies are needed for a wide range of new drugs to be developed, a major part of identification of such molecules and candidates is performed with microplate readers. Thus, improvements in the field of microplate instrumentation are vital for the progress of pharmaceuticals industry. As the trend of drug discovery along with the adoption of 3D cell culture is consistently rising, the demand for such specialized and breakthrough models and designs is anticipated to grow correspondingly.

North America and Europe together are dominating the regional segment for microplates market. The market in this region is driven by existence of well-defined healthcare infrastructure, swift approvals for breakthrough technologies, rising prevalence of chronic disease, significant rise in drug discovery and manufacturing of novel design technologies. Additionally, in the microplates industry, cell culture techniques are used in a wide range of applications that include analysis of cellular structures, regenerative medicine, research, stem cell therapy, drug discovery and development, drug manufacture, genetic engineering and others. The prime future opportunities for the expansion of the market are growing application of cell culture in drug discovery and the recent introduction of 3D cell culture technology. However, factors such as stringent regulatory environment, requirement of advanced manufacturing capabilities and skill sets, less funding for research, risk of infection control or virus, and ethical concerns over use of animal sources may negatively hamper the growth of this market.

The global microplates market is characterized by some of the notable players and hence, the market is quite fierce in terms of competition. Key players include Greiner Bio One International GmbH, Corning Incorporated, Thermo Fisher Scientific, Eppendorf AG, PerkinElmer, Inc., Becton, Dickinson and Company, QIAGEN N.V., VWR (Avantor), SPL Life Sciences, Porvair Science Ltd., Ritter GmbH, Berthold Technologies GmbH & Co. KG and Hirschmann Laborgeräte GmbH & Co. KG among others.

Key Market Movements:

  • Rapid growth in investment for biotechnology applications and drug discovery and development
  • Proliferation of CRO activities in Asia Pacific to boost demand in the region
  • Growing investments for adoption of high throughput screening across several research applications to improve efficiencies and reduce time
  • Large scale research and development activities focusing of novel drug molecules

The Global Microplates Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2019-2029
Base Year 2020
Forecast Period  2021-2029
Historical Year  2019
Unit  USD Million
Segmentation   By Type (2019–2029; US$ Mn)
  By Application (2019–2029; US$ Mn) 
  By Base Material (2019–2029; US$ Mn) 
  By Pigmentation (2019–2029; US$ Mn) 
  By Well Design (2019–2029; US$ Mn) 
  Geography Segment (2019–2029; US$ Mn) 

*Complete segmentation list is on report page

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