Microplate Systems Market is Projected To Reach USD 864.1 Million By 2026 At A CAGR of 2.3% - Valuates Reports

Microplate Systems Market is Projected To Reach USD 864.1 Million By 2026 At A CAGR of 2.3% - Valuates Reports

PR Newswire

BANGALORE, India, Nov. 8, 2021

BANGALORE, India, Nov. 8, 2021 /PRNewswire/ -- Microplate Systems Market is segmented By Type - Multi-mode Microplate Systems, Single-mode Microplate Systems, By Application - Biotechnology, Pharmaceutical, Hospital, Diagnostic Labs, Other. Global Opportunity Analysis and Industry Forecast 2021 - 2026. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.

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The global Microplate Systems market size is projected to reach USD 864.1 Million by 2026, from USD 755.4 Million in 2019, at a CAGR of 2.3% during 2021-2026.

A Microplate system is a laboratory instrument that was designed to discover biological, chemical, and physical responses for research and experimental purposes. These systems can be used to test gene expression reactions, biological processes, and protein quantification. The microplate system is used in medication development, environmental monitoring, wastewater treatment, and fermented foods.

Major factors driving the growth of the microplate systems market are:

Microplate systems are widely used in current drug discovery and development, as well as genomic and proteomic research, because they improve test speed and accuracy, allowing researchers to focus on more important tasks. As a result, the pharmaceutical industry's increasing R&D activity can be viewed as a key growth driver for the Microplate Systems market.

Increased demand in the biotechnology industry for automated cell-based and biochemical assays, as well as an increase in the prevalence of chronic and infectious diseases, is expected to drive the Microplate Systems market.

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The growing need to identify how microorganisms interact is expected to drive the growth of the Microplate Systems market. Studying how microorganisms interact will help pharmaceutical, biotechnology, and food companies to develop molecule/drug entities and products against polymicrobial interactions and other applications. One of the most essential instruments for researching how microorganisms interact is the microplate system. Microplate systems are highly effective in the testing of gene expression reactions, biological processes, and the measurement of proteins. Microplate systems can examine many samples at the same time. This feature is in turn expected to further drive the Microplate Systems market.

Furthermore, due to rising pharmaceutical R&D spending, a growing focus on miniaturization, technical developments, and rising illness prevalence, the Microplate Systems market is expected to increase significantly.

Given the present pandemic and the pharmaceutical and biotechnology industries' role in containing the virus's spread by providing crucial medications, vaccines, kits, and other supplies, the microplate systems market is projected to rise as the help in new drug and vaccine discovery.

 Microplate systems market growth is projected to be hampered by rising costs of technologically advanced items and a lack of understanding about the availability of improved features in microplate systems.

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Based on region, In 2017, North America is expected to account for the largest share of the market followed by Europe. This dominance of North America can be linked to a variety of factors, including government initiatives for cell-based research, growing acceptance of personalized treatment, more university and government spending in diagnostic research, and a greater focus on drug discovery and development.

Based on application, the Biotechnology & Pharmaceutical industry is expected to be the most lucrative segment. The primary drivers for these segments include increasing government support in the form of financing for biotech and pharma research.

Microplate Systems Market By Company

Microplate Systems Market By Type

Microplate Systems Market By Application

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Microplate Systems Market By Country/Region

The key regions covered in the Microplate Systems market report are North America, Europe, China and Japan. It also covers key regions (countries), viz, the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam, Mexico, Brazil, Turkey, Saudi Arabia, U.A.E, etc. The report includes country-wise and region-wise market size for the period 2016-2027.

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