Microplates Market Size, Share, Growth, and Industry Analysis, By Type (96 Wells, 384 Wells, 1536 wells and Others), By Application (Assay, Storage, Filter and Others) and Regional Forecast to 2032

Updated On: 04 November 2024

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MICROPLATES MARKET REPORT OVERVIEW

The Microplates Market Size was Valued at US$ 594.74 Million in 2023. The Market is likely to Surpass US$ 760.04 Million by 2032 at a CAGR of 2.48% During the Forecast period [2024-2032].

The Global market for microplates would experience great progress due to an increase in their applications within biotechnology, pharmaceuticals and clinical diagnostics. The ability for researchers to conduct numerous tests concurrently with high levels of precision and accuracy is facilitated by microplates also known as microtiter plates. Enhanced microplate technologies are one of the reasons why this market grows as well as the demand for robotized processes occurring in the laboratory.

Better materials and modern designs are helping to enhance the performance and versatility of microplates in diverse types of assays including PCR, ELISA and cell culture procedures. Hence, the increasing focus on drug development processes and rise of chronic diseases have raised the demand for using microplates in health care and life sciences research labs.

Furthermore, due to ongoing reductions in size and increasing integration of microfluidic technologies, new applications for microplates are being revealed, leading to high-density complex assays. A focus on low-cost and efficient lab technologies has seen to it that elaborate patterns which ensure precise and repeatable results have earned broad acceptance and use.

COVID-19 Impact: Market Growth during Pandemic due to rising demand of diagnostic testing and vaccine development

The Global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The Covid 19 outbreak brought scarce goodness to the Microplate Market. Over the past few months, the market for microplates has experienced significant growth due to an increased demand in areas such as diagnosis tests or research on vaccines against Covid 19. Nowadays every single laboratory has increased its research activity so as to understand how exactly this virus works as well as means by which it could be treated; numerous experiments are being done using these instruments.

Moreover, with the outbreak of COVID-19, there have been inventions of automatic and high-throughput technologies which have further led to an increase in the need for microplates. The growth in usage was specifically noticed in PCR and antibody testing, since these are areas where microplates were important in expanding the test capacity. Hence, there was a vigorous expansion in the worldwide market for microplates, largely propelled by the need to have dependable and effective testing methods during the pandemic.

LATEST TRENDS

"Use of Automation in laboratories to Drive market growth"

The microplates market is experiencing substantial growth due to the increasing adoption of automated laboratories, the greater use of three-dimensional cell culture models for experimentation purposes, as well as an increasing emphasis area on high throughput screening for potential drug targets identification. More importantly, among these changes has been witnessed key trend consisting of making advanced microplates designed with minimum edge effects such as Edge 2.0 96-well plates manufactured by Thermo Fisher Scientific and was introduced earlier into market in January 2024. These chips help improve data quality ensuring that large scale biopharmaceutical research analysis will be much easier.

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MICROPLATES MARKET SEGMENTATION

By Type

Based on type the global market can be categorized into 96 Wells, 384 Wells, 1536 wells and Others.

• 96 Wells : In laboratories, many people use 96 – well microplates for different tasks such as ELISA, cell culture and storing samples. They are compatible with most laboratory equipment because of their typical shape; hence they are ideal when you need to do high throughput screening.

• 384 Wells : 384-well microplates allow for the conduction of multiple simultaneous assays at a go in a more compact format, which ensures the efficiency and throughput are higher. Ideal for drug discovery and genome analyses that need large sample sizes.

• 536 Wells : Microplates containing 1536 wells enable very high throughput, which makes it possible to carry out ultra-high-throughput screening using small amounts of samples and reagents. These well plates are used mainly by high-throughput drug discovery and other industries that require quick and efficient testing procedures.

By Application

Based on application the global market can be categorized into Assay, Storage, Filter and Others.

• Assay : Microplates used in assays are vital in carrying out a variety of biochemical and cell-based tests, therefore have set a stage for high-throughput screening. Their design permits to process numerous samples at a go leading to more efficiency and precision in research.

• Storage : Microplates designed for preserving are used to store and organise samples safely, mainly in deeper-well configurations for larger amounts. These safeguard the integrity of samples as well as allow for simple recovery and manipulation; thereby making them indispensable to laboratory operations and biobanking.

• Filter : They make use of filter microplates in doing this separation process, which includes purification of specimens by means of a filtration method like in DNA extracting, purifying proteins as well as segregating cells. In various common laboratory uses, their layout ensures quicker processing procedures for many specimens, hence promoting increased productivity.

DRIVING FACTORS OF MICROPLATES MARKET GROWTH

"Technological Advancements to Drive Market Growth"

Continuous innovation drives market growth by enhancing functionality and reliability of microplate design and materials. Developments like automation and high-throughput screening capabilities render microplates indispensable in modern research and diagnostics.

"Growing Biotechnological Research to Drive Market Growth"

Significant investments in biotechnological and pharmaceutical research have increased the demand for microplates. They are a vital tool in drug discovery, genomics, and proteomics studies.

RESTRAINING FACTORS OF MICROPLATES MARKET GROWTH

"High Cost of Advance Technology and Instruments to Hinder Market Growth"

A limiting factor for the Microplate Market growth is the high expense that arises when one has to involve more developed microplate technologies and tools with certain characteristics. As a result, their acceptance may be constrained particularly among minor research labs or establishments with nominal funding. Moreover, difficulties might arise when trying to link these appliances together within already established routines which could make expansion almost impossible.

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REGIONAL INSIGHTS OF MICROPLATES MARKET SHARE

The market is primarily segregated into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

"North America dominates the Market due to the advanced healthcare infrastructure and investments"

The Microplates Market share is dominated by North America since it has a developed healthcare infrastructure that is packed with investment in biotechnological research, and pharmaceutical research. Additionally, there are many players from this region who have solid presence in the industry as well as matured distribution networks strengthening the position of this region in the market. Furthermore, the supportive policies by the government and the high expenditures for R&D have supported the growth of the market sector. The growth of this market has also been fuelled by a rising appetite for new technologies which are being embraced more and more in research laboratories and clinical diagnostics.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market Through Continuous Innovation and Strategic Collaborations"

The constant innovations and strategic partnering undertaken by the major companies are spearheading the growth of microplate business. These firms are spending a fortune on research in order to help produce new microplates consisting of better materials, design features as well as new working principles targeted at addressing declining requirements especially in the field of biotechnology and drug industry. In addition, the market presence of strategic partnerships and acquisitions is expanding as well as their customer base. Additionally, these participants are concentrating on increasing their product lines to enhance distribution networks for the better availability of quality micro-plates in different regions hence they greatly impact the market growth.

LIST OF MARKET PLAYERS PROFILED

• Alpha Laboratories Ltd (United Kingdom)
• Corning (U.S.)
• Becton Dickinson and Company (U.S.)
• Eppendorf (Germany)
• Agilent Technologies (U.S.)
• Greiner Bio One (Austria)
• Beaver (China)
• Thermo Fisher (U.S.)
• QIAGEN NV (Netherlands)
• SPL Life Sciences (South Korea)
• PerkinElmer (U.S.)
• Berthold (Germany)

INDUSTRIAL DEVELOPMENT

January 2024: The recent development in the Microplates Market was announced by Thermo Fisher Scientific. They introduced the advanced Nunc™ Edge 2.0 96-Well Plates, marking a significant development in the microplates market. Thermo Fisher's commitment to laboratory technologies and research outcomes continues to be emphasized by these new plates, which are meant to reduce edge effects in order to improve the accuracy of data in high-throughput screening applications that are used in biopharmaceutical research. This launch further reveals Thermo Fisher's commitment to enhancing laboratory technologies and research outcomes.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.