{"id":98451,"date":"2021-01-08T23:10:00","date_gmt":"2021-01-08T23:10:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=2795710"},"modified":"2021-01-08T23:10:00","modified_gmt":"2021-01-08T23:10:00","slug":"microplates-market-us-940-1-mn-market-by-2026-size-and-trends-analysis-to-2026","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/01\/08\/microplates-market-us-940-1-mn-market-by-2026-size-and-trends-analysis-to-2026\/","title":{"rendered":"Microplates Market | US$ 940.1 MN Market by 2026 | Size and Trends Analysis to 2026"},"content":{"rendered":"

\"Microplates <\/a> <\/p>\n

iCrowdNewswire <\/strong>  Jan 8, 2021  8:10 AM ET<\/span><\/p>\n

The global microplates market<\/a><\/strong> was valued at US$ 670.5 Mn in 2017 and expected to reach US$ 940.1 Mn by 2026, expanding at a CAGR of 3.8% from 2018 to 2026.<\/p>\n

Market Insights<\/strong><\/p>\n

Today, microplates are among the most common disposable labware. 96 well microplates arranged in eight rows and twelve columns with dimensions set by the American National Standards Institute. There are several types of microplates available in the market based on the well densities ranging from several numbers to thousands of wells in a single plate, clear and opaque bottom for fluorescence reading, to base material and so on. The annual global market for microplates is soon expected to reach the 900 Mn mark globally, and shall witness dominance from key companies having a stronghold on North America and Europe markets. Furthermore, this market shall also witness proliferation of small and local players, focusing on a specialty products designed for certain applications. With the growth in demand for microplates, the peripheral segments such as microplate readers and washers, particularly designed for pairing with microplates and further analysis.<\/p>\n

Some prime factors driving the global microplates market are technological advancements focusing on enhancement of laboratory efficiencies, and growing need for lab automation. Other drivers of this market include increasing investments in life sciences research and R&D initiatives for rapid drug discovery, and growing adoption of high throughput screening technologies for swift analysis at reduced cost and turnaround time. North America represents as the largest market for microplates due to high prevalence of diseases, strong base of advanced research institutions, and domicile of several major market players in the region. Asia Pacific shall progress at the fastest growth rate during the forecast period. Major drivers of Asia Pacific market are rapidly progressing biotechnology industry in key countries of India, and China. The region is also progressively becoming a prominent hub of CRO activities, therefore assisting in swift adoption of newer microplates and peripheral equipment.<\/p>\n

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\u201cHigh demand for microplate instrumentation to come for drug discovery and development\u201d<\/strong><\/em><\/p>\n

The number of new molecular entities is steadily increasing every year. The pharmaceutical industry as a whole is not seeing significant returns at one time for fewer blockbuster drugs. This means that the industry is focusing on smaller pockets of the market and taping into smaller yet more relevant opportunities to deliver potential benefits to selected patient groups. This has therefore resulted in a clearer and more prominent need for manufacturers to take timely and correct decisions on pipeline projects and to explore more efficient methods for discovering new targets. 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.<\/p>\n

\u201cAsia Pacific market to witness rapid growth through the forecast period\u201d<\/strong><\/em><\/p>\n

North America holds the largest revenue share in the global market for microplates and continues to take the lead over the forecast period, due to the increasing incidence of chronic and acute diseases in the region and the widespread presence of early diagnosis and treatment facilities. The shift from bio-laboratories to automation is also fueling market growth in the region. It is estimated that Asia Pacific is experiencing significant market growth during the forecast period. Rapid evolution of the healthcare infrastructure, and growing investments in research and development for biotechnology and pharmaceuticals. Furthermore, growing outsourcing of biotechnology contract research processes are also among the key drivers.<\/p>\n

Key Market Movements:<\/strong><\/p>\n