Microplate Systems Market | Latest and Emerging Revenue Impacting Trends in Coming Years

Pune, India, 2020-Jan-31 — /EPR Network/ —

The growth of this microplate systems 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%.

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Target Audience of Report:

1. Manufacturers of microplate system products
2. Distributors of microplate system products
3. Venture capitalists
4. Government and academic institutes
5. Lab automation equipment and software solution providers
6. Research laboratories, diagnostic centers, hospitals, and research institutes
7. Pharmaceutical & biopharmaceutical companies

Application of Microplate Systems Market:

1. Drug discovery
2. Clinical diagnostics
3. Genomics and Proteomics research.
4. Other applications

The drug discovery segment is expected to be the fastest growing during the forecast period. This growth is attributed to the rising need for high-throughput assays and ADME toxicity screens for processing a huge number of compounds.

End User of Microplate Systems Market:

1. Biotechnology and pharmaceutical companies
2. Hospitals and diagnostic laboratories
3. Research and academic institutes

The biotechnology and pharmaceutical companies segment is expected to be the fastest growing during the forecast period. This growth is attributed to the increasing government support in the form of funding for biotech and pharma research.

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Regional Growth Analysis:

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.

Leading Players in Global Industry:

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).