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Molecular Grade Plates Market

Growing R&D and Increasing Investments in Healthcare will Propel the Overall Molecular Grade Plates Market

Molecular Grade Plates Market Segmented By PCR Plates, Deep Well Plates, Sample Preparation Filter Plates Products

Molecular Grade Plates Market Outlook (2023-2033)

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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Sales Analysis of Molecular Grade Plates Market from 2015 to 2022 Vs Market Outlook for 2023 to 2033

The global market for molecular grade plates recorded a historic CAGR of 3.6% in the last 7 years from 2015 to 2022.

Researchers are increasingly in need of tear-able PCR plates. To satisfy the end-experimental user's demand, numerous businesses are releasing their PCR plates with this feature.

In a plate format, tearable PCR plates feature flexibility akin to tube strips. They are easily divided into smaller plate parts, preventing the wastage of tubes.

The majority of systems are universally compatible with PCR microplates, which are preferred by researchers.

In research, the use of suitable plates is greatly desired.

For instance, numerous manufacturers are working to provide plates that are universally compatible. For instance, Brooks Life Sciences sells PCR-compatible plates for Thermo Fisher Scientific and Bio-Rad PCR equipment.

The field of life sciences is expanding. Organizations in the biopharmaceutical and research sectors will constantly be focused on new discoveries in order to be prepared for the future and stay current in the constantly changing business environment.

Virtual clinical trials, telemedicine, and artificial intelligence will disrupt conventional medical research and increase diversity as new technologies in life sciences research are adopted more widely.

In research, there have been several difficulties. Despite this, the life sciences sector consistently makes R&D investments. This will boost the biotech sector's ability to generate income.

WHO claims that research in the life sciences, such as genomics, synthetic biology, proteomics, molecular biology, and genetic engineering, has significantly improved health.

Additionally, the development of novel chronic disease treatments, together with improvements in patient compliance and efficiency of treatment, account for a major portion of healthcare R&D spending. One of the biggest improvements in the healthcare sector over the past few years has been the advancement of dosage forms. Auto-injectors, patches, metered dose inhalers, and other new products on the market have helped address numerous illnesses worldwide.

The global market is thus likely to show high growth over the coming years at a CAGR of 4.0% and reach a global market size of US$ 427.1 Mn by 2033.

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How Can Molecular Grade Plates Market Grow?

Growing R&D Expenditures and Novel Product Launch Activities

R&D and technology spending is moving from North America and Europe to Asia Pacific, particularly in the life sciences. There are more opportunities for outsourcing biotech projects in developing nations like India because they have an availability of qualified personnel at affordable prices.

Additionally, by providing tax exemptions for expanded budgets and funding for R&D, creating public and private corporations, and luring foreign direct investments, the Asia Pacific government is assisting the expansion of the domestic biotechnology industry.

Furthermore, there is a tremendous possibility for market expansion due to the increasing use of molecular biology applications in academia and research. R&D investment in the life sciences is among the highest of all other industries, and it is anticipated to increase steadily over the coming years. Businesses that invest in delivering products and services to meet the needs of research can anticipate reliable returns.

The need for molecular grade plates in developing regions is predicted to increase as rising nations make more investments in the healthcare sector. Major players are increasing their manufacturing and distribution capabilities to reach as many end consumers as possible worldwide.

Additionally, local firms are gaining market share with their cutting-edge products and innovations. Growing government R&D programmes are anticipated to open up significant market potential for molecular grade plates in emerging nations.

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Can the Molecular Grade Plates Market Growth Be Affected in Any Way?

“Regulatory Impositions, Lack of Skilled Professionals, and Financial Constraints in Establishing New Businesses”

The main obstacle to the market expansion for molecular grade plates is the high cost of PCR and Next gen sequencing systems and equipment.

Additionally, the main barrier to the expansion of the market is the hesitation of small and medium-sized businesses in many developing nations to adopt new PCR systems due to a lack of funding. Although PCR is a commonly utilised application, many research institutes are hesitant to modernise their infrastructure and implement cutting-edge techniques.

It is becoming increasingly challenging for individuals to align their skill sets with the needs of employers due to accelerating technology improvements and the digitization of the workplace.

The life sciences industry is anticipated to experience market growth restraints due to a lack of knowledgeable and trained workers, which may have an influence on the market for molecular grade plates.

PCR and other molecular applications are delicate processes, and carelessness or a lack of expertise might make a procedure fail. High competent and trained individuals who are familiar with the technology and mechanism are needed for such procedures.

Additionally, the process of developing new products is impacted by the ethical and regulatory restrictions related to plastic. This will probably prevent the market for molecular grade plates from expanding. Nevertheless, medical plastics play a significant role in the contemporary healthcare system. Due to the severe government laws in many regions, manufacturers of these plastic materials must adhere to international regulatory standards.

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Country-wise Insights

Why is the U.S. Molecular Grade Plates Market Booming?

“Presence of Large Number of Investors for Research”

The U.S. accounted for around 92.6% market share in the North America market in 2022, and a similar trend is expected over the forecast period. In the United States, numerous investors, including the federal government, universities, various organisations, and the healthcare sector, spend money on research and development. The examination of numerous compounds for potential illness treatment and the adoption of an innovative methodology are being driven by the rapidly rising cost of healthcare. This factors propels the market within the country.

Will Germany Be a Lucrative Market for Molecular Grade Plates Manufacturers?

“Advancements in Molecular Biology and Diagnostic Tests”

Germany held around 18.4% market share of the Europe market in 2022. Given the increased frequency of severe lifestyle disorders like heart disease, Germany currently dominates the market. In the fields of molecular biology and human genetics, tremendous advancements have been made.

The country is now able to serve as a significant market for manufacturers of molecular diagnostic tests, which in turn is driving the value of the entire market throughout the forecast period. These rapidly evolving methodologies are further backed by innovative technological approaches.

How is China Emerging as a Prominent Market for Molecular Grade Plates?

“Increasing Outreach into Developing Economies”

China held the largest market share of about 56.6% of the East Asia market in 2022. Major players are establishing R&D centres, new facilities, and innovation centres in growing nations like China and India to mark their presence there.

For example, Thermo Fisher Scientific, Inc. (U.S.) opened a China Innovation Center in Shanghai in June 2013. The centre was established to increase the capacity for research, development, and training in support of Asia-Pacific markets with significant growth rates. This element contributes to market expansion in the nation.

Category-wise Insights

Which Product is Driving Growth of the Global Molecular Grade Plates Market?

“Rapid and Easy Analysis”

The PCR plates segment held around 62.1% share of the global market in 2022. The identification of bacterial infection is done using PCR plates. It is convenient to utilise the PCR plate for sequencing because it makes amplifying the DNA much easier and faster. DNA must be in single strands. The benefit of using PCR plates is that the primers do not need to have complimentary sequences for the target DNA, which allows them to hold a larger market share globally.

Which Application is Largely Preferred for the Molecular Grade Plates Globally?

“Large Range of Applications in Diagnostics and Testing”

PCR based applications held a market share of around 51.2% in 2022. In addition to having practical uses in forensics, genetic testing, and diagnostics, PCR is a common tool in research labs. Examples include amplifying genes linked to genetic diseases from patients' DNA using PCR (or from foetal DNA, in the case of prenatal testing). This makes PCR applications the most popular market segment worldwide.

Which End User Offers the Molecular Grade Plates Market a Profitable Outlook?

“Increase in R&D, Production, and Outsourcing for Novel Product Development”

Biotechnology companies held a larger share of about 55.5% with a market value of around US$ 154.2 Mn in 2022. With the growing global burden of chronic and infectious diseases, as well as the rising healthcare expenditure, increasing research and development activities are followed by novel product development to address the global disease burden. Several biotechnology companies are manufacturing, as well as outsourcing research and production facilities, in order to cater to the growing demand for improved disease diagnostics, as well as drug development and discovery.

Competition Landscape

In addition to providing products for sensitive applications, leading companies of molecular grade plates are also manufacturing low binding plates for sample preparation for next-generation sequencing. Low binding polypropylene plates are chosen because they allow for several incubation and transfer phases without sample loss during investigations. Increasing or maintaining sample yield is a critical requirement for molecular biology applications.

Key instances include:

  • In November 2020, QIAGEN and BioNTech began working together to develop companion diagnostics for HPV-associated head and neck squamous cell cancer.
  • As the replacement for its well-liked centrifuge 5424 R, Eppendorf unveiled the chilled 24-place 5425 R in October 2020. Numerous upgrades made by the new device make applications in the field of molecular and cell biology simpler than before.

Molecular Grade Plates Industry Report Scope

Attribute

Details

Forecast Period

2023-2033

Historical Data Available for

2015-2022

Market Analysis

USD Million for Value

Key Countries Covered

  • U.S.
  • Canada
  • Brazil
  • Argentina
  • Mexico
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia
  • BENELUX
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Turkey
  • GCC
  • North Africa
  • South Africa

Key Market Segments Covered

  • Product
  • Application
  • End User
  • Region

Report Coverage

  • Market Forecast
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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

Region:

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Oceania
  • Middle East & Africa

- Companies Covered in This Report -

  • Thermo fisher scientific
  • Merck KGA
  • Bio-Rad
  • Takara Bio, Inc.
  • QIAGEN N.V.
  • Pall Corporation
  • Eppendorf Corporate
  • Tarsons
  • Applied Biological Applications Inc.
  • Greiner AG
  • Brooks Life Sciences
  • Corning Incorporated
  • Cytiva
  • PerkinElmer Inc (Euroimmun AG)

- Frequently Asked Questions -

The global market is currently valued at around US$ 277.8 Mn in 2022.

Sales of molecular grade plates are set to witness a high growth at a CAGR of 4.0% and be valued at around US$ 427.1 Mn by 2033.

Demand for molecular grade plates market increased at a 3.6% CAGR from 2015 to 2022.

The U.S., U.K., China, Germany, and Japan account for most demand for molecular grade plates, currently holding around 57.5% market share.

The U.S. accounts for around 92.6% share of the North American market in 2022.

Latin America accounts for around 7.9% share of the global market in 2022.

The China market held a share of about 56.6% in the East Asia market in 2022.

The Germany market is set to expand at a 4.2% CAGR over the forecast period.

The Brazil market is expected to grow at a 4.9% CAGR during the forecast period.

The molecular grade plates market in India is set to expand at a 6.3% CAGR over the forecast period.

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