Market Trends of Microplate Systems Industry
Drug Discovery is Expected to Hold a Significant Share in the Market Over the Forecast Period
- Drug discovery is a complex process that involves the identification of potential new therapeutic entities using a combination of computational, experimental, translational, and clinical models. Biochemical assays using microplates are effective at identifying, measuring, and researching the binding or activity of a biological substance, making them valuable tools in drug discovery research. High-content screening microplates are particularly useful for eliciting biologically pertinent data from cells and substances. The drug discovery segment is expected to hold a significant market share due to the increasing number of research and development activities, as well as the rising number of drug discoveries utilizing the application offered by microplate systems.
- Microplate systems are also widely utilized in studies relating to traditional medicine, which is expected to have a positive impact on the market. For example, a recent article published in June 2022 described a study to screen traditional Chinese medicine (TCM) for COVID-19 drug development. The phytochemical content and bioactivities of aqueous herbal extract (AHEs) were determined using an ELISA microplate reader. Additionally, an increase in product launches and strategic activities by key players is expected to drive market growth. In April 2022, eNUVIO launched the EB-CLARIFY device, an all-in-one embryoid body (EB) formation, processing, and imaging device that provides scientists with a complete solution to working with delicate spheroids.
- The innovative EB-CLARIFY is poised to greatly increase the efficiency of spheroids in drug discovery, efficacy, and safety testing programs. Similarly, in February 2021, PerkinElmer launched the first cell painting kit as part of its new portfolio of PhenoVue cellular imaging reagents, which leverages its expertise in cellular imaging and high-content screening. With this entire screening workflow, researchers can better understand diseases and develop more targeted therapies and drugs to treat them.
- Furthermore, the rise in research funding for the development of drugs to treat chronic diseases is likely to increase the demand for microplate systems and thereby boost market growth. For instance, in December 2022, two biomedical researchers at Michigan State University received a total of USD 600,000 in high-risk, high-reward Catalyst Awards from the Dr. Ralph and Marian Falk Medical Research Trust for Cancer Development and Tuberculosis Drugs. Therefore, with the growing utilization of microplates in drug discovery, along with an increase in product launches and funding, the studied segment is expected to witness significant growth in the market over the forecast period.
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North America is Anticipated to Hold a Significant Market Share in the Market Over the Forecast Period
- The North American market for microplate systems is expected to hold a significant market share over the forecast period due to several factors. Firstly, there has been an increase in product launches and research and development investments, as well as the emergence of advanced laboratory testing in the region. For example, a recent article published in CBC in September 2022 highlighted a simple blood test that can detect over 50 types of cancer, which its makers are hailing as a new approach to cancer screening in Canada.
- Additionally, the Royal Victoria Regional Health Centre (RVH) unveiled a state-of-the-art automated laboratory facility in April 2022, making it the first in Canada to have Siemens Healthineers Atellica Solution connected to Aptio Automation. This new facility is expected to provide increased testing capacity, including hematology and coagulation testing, thereby creating a total lab automation solution. As a result, the launch of laboratory testing facilities is anticipated to drive the demand for microplate systems, leading to market growth.
- Furthermore, an increase in pharmaceutical research funding in the region is expected to fuel the development of microplate systems. According to the Pharmaceutical Industry in Figures 2022 report published by EFPIA, the United States Pharmaceutical R&D expenditure rose from 7.7% during the 2012-2016 period to 8.5% during the 2017-2021 period. Additionally, the increasing number of product launches by various market players in this region is also expected to contribute to the growth of the market. For example, in September 2022, Integra launched the WELLJET family of dispensers to reduce running costs, increase productivity, and provide longer walk-away time for bulk microplate filling and reagent dispensing.
- Similarly, in June 2021, AlphaGem Bio Inc., a supplier of medical labware for liquid transfer handling, launched a polymerase chain reaction (PCR) plate made of TOPAS COC from Polyplastics in the United States. This new plate for genomic testing uses TOPAS for greater rigidity and heat stability compared to plastics such as polypropylene (PP) and polycarbonate (PC). Therefore, the rise in laboratory tests due to chronic diseases and increasing product launches by various market players are expected to contribute to the growth of the market over the forecast period in North America.
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