Douglas Insights Improves Its Comparison Engine With Microplates Market Research Report

Douglas Insights improves its comparison engine by adding the Microplate Market research report to it, allowing clients to analyse its pricing, strategies, macro and micro market trends and compare it with other research reports. The research report includes primary drivers, restraints, market share, size, and segmentation that one can evaluate based on publisher rating, price, date, and list of tables. Douglas Insights enables its clients to make timely and informed decisions without compromising productivity and time. 

The global microplates market is showing a positive trend in the forecast period of 2022 to 2030 and is expected to grow at 4.2% CAGR. The recent increase in its application in biotechnology research and drug screening has pushed sales and made the market competitive. Despite the competition, the market share remains concentrated among six key players who owned 50% of its total revenue in 2021. BDC, Thermo Fisher Scientific, and Corning alone retained 30% of those revenue shares and are meeting the global demand through continuous expansion to the growing market of Asia Pacific. 

The leading competitors, aside from the ones already mentioned, in the microplates market are Greiner Bio-One International GmbH, Ritter GmbH, Berthold Technologies GmbH & Co. KG, QIAGEN N.V., Becton, Porvair Science Ltd., Eppendorf AG, VWR (Avantor), Hirschmann Laborgeräte GmbH & Co Dickinson and Company, PerkinElmer, Inc., and SPL Life Sciences, among many. 

Microplates are essential in clinical research, cell structure, drug testing, and discovery. They are considered crucial tools for pharmaceutical and biotechnological companies. They help carry out tests quickly and efficiently with little to no room for error. The recent increase in viral and infectious diseases and the pending research on chronic and life-threatening ailments like cancer and Alzheimer's have boosted the demand for microplates. 

The COVID-19 outbreak accelerated the growth of the microplates market as the research for cell-based vaccines tripled. Microplates offered a viable way to conduct research at a low cost, and as investments in biotech and pharma sectors increase, so does the demand for microplates. 

North America and Europe are collectively dominating the microplates market, owning 64% of its revenue in 2021. Research and development activities in these regions are accelerated by the availability of skilled researchers, resources, and government-approved policies. The major players in these regions actively invest and fund drug diagnostic procedures, and the audience is also well-versed and aware of medicinal benefits. Additionally, the high number of pharmaceutical companies, research facilities, and healthcare institutes in North America and Europe also contribute to the increasing demand in the region. 

Although Asia Pacific countries are falling behind in both consumption and production of microplates, the market shows a positive incline in the coming years. The population of developing countries like India and the increasing interest in research, drug screening, immunology and cell structure will impact the regional and eventually the global microplates market. China, South Africa, and Brazil have a growing research sector and will likely come up on top of their competition during the forecast period.

Conversely, the microplates market is affected by the availability of its raw materials, polystyrene and polypropylene, which own 70% of the market share. Polystyrene is the largest stakeholder in the market, with just under 50% of shares in 2021. As for segmented applications, 40% of microplates market revenue went to cell structure because of its covid-accelerated application in the research and drug development sector. 

The microplates market shows no signs of slowing down because of the growing pharmaceutical and biotech industry and the need for cell-based vaccines.