Worldwide revenue from the molecular grade plates market stands at US$ 277.8 Mn in 2022, with the global market estimated to surge ahead at a CAGR of 4.0% to reach a valuation of US$ 427.1 Mn by the end of 2033.
| Molecular Grade Plates Market Size (2022) | US$ 277.8 Mn |
| Projected Market Value (2033) | US$ 427.1 Mn |
| Global Market Growth Rate (2023-2033) | 4.0% CAGR |
| Market Share of Top 5 Countries | 57.5% |
As assessed by Persistence Market Research, PCR plates are expected to hold a market value of US$ 265.7 Mn by 2033. Overall, molecular grade plates market sales account for approximately 30.0% revenue share in the global microplates market, which was valued at around US$ 927.0 Mn in 2022.
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Molecular grade plates are used in a variety of applications, such as Real Time PCR, both qualitative and quantitative, nucleic acid purification, and DNA sequencing. These plates are built for common uses such as sample storage and other high throughput applications.
The COVID-19 pandemic has positively impacted the global molecular grade plates market. PCR tests have been found effective in diagnosing COVID-19. Currently, these tests are for people at risk of developing severe COVID-19. However, the pandemic has created a vast opportunity for the molecular biology industry to grow, and this is also leading to increased adoption of diagnostic products and consumables.
Key Takeaways from Molecular Grade Plates Market Study
- Holding over 60% market share, the PCR plates segment will experience the maximum positive impact during the COVID-19 pandemic, due to the rising adoption as a COVID19 diagnostic test.
- Biotechnology companies are expected to hold more than half of the revenue share in the molecular grade plates market during the forecast period.
- North America is the most lucrative regional market, owing to technological advancements coupled with rising research & development activities in the region.
- With high demand for PCR testing, the COVID-19 pandemic is having a positive impact on the growth of the global molecular grade plates market.
“Growing manufacturers’ focus on developing new technologies in molecular biology applications, along with increasing funding in life science research are expected to propel growth of the global molecular grade plates market over the coming years,” says a PMR analyst.
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Increasing Life Science Research Activities Coupled with Innovative Business Strategies by Market Leaders Likely to Drive Market Growth
Increased adoption of new technologies in life science research, such as virtual clinical trials, telemedicine, and artificial intelligence will change traditional medical research and improve diversity. There have been many challenges in research, but despite this, the life sciences industry is continuously investing in R&D. This will increase revenue generation from the biotech industry as well.
For instance, commercialization of gene and cell therapies in the future will change the entire medicine world.
Key players in the molecular grade plates market are focusing on acquisition and partnerships with small players and suppliers for expansion of market presence. Manufacturers are adopting this strategy to expand their footprint across regions. Moreover, they are also focusing on research & development activities for the application of molecular grade plates in various research applications
For instance, in May 2018, Greiner Bio-One North America, Inc. acquired 3D Cell Culture Technology, previously owned by Nano 3D Biosciences, Inc.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the molecular grade plates market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, on the basis of product (PCR plates, deep well plates, and sample preparation filter plates), application (PCR, next-gen sequencing (NGS), and sample storage), and end user (biotechnology companies and research & academic institutes), across seven key regions of the world.
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Key Segments Covered in Molecular Grade Plates Industry Research
Product:
- PCR plates
- 96 Well
- 384 Well
- Others
- Deep Well Plates
- 96 Well
- 384 Well
- Others
- Sample Preparation Filter Plates
- 96 Well
- 384 Well
- Others
Application:
- PCR
- qPCR
- RT-PCR
- Next Gen Sequencing
- Sample Storage
End User:
- Biotechnology Companies
- Research & Academic Institutes
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