Molecular Grade Plate Market Projected to Exceed $454.7 Million by 2034 with a 4.2% CAGR

Businesses are focused on product innovation, quality control, and strategic partnerships to address the rising demands of life sciences and biotechnology research to become more competitive in the molecular grade plates industry, says FactMR.

The molecular grade plate market size is projected to rise at a moderate CAGR of 4.2% through 2034 and is projected to surpass US$ 454.7 million by 2034. The market is estimated to be worth US$ 302.5 million in 2024. The rising need for molecular biology methods across various sectors, such as academia, biotechnology, and pharmaceuticals, is one of the main factors fueling such expansion.

The demand for dependable and effective instruments for molecular biology research rises in tandem with the growth of these sectors. The increased frequency of genetic illnesses fuels the need for molecular-grade plates. The need for instruments to enable genetic research and sequencing is growing as more is discovered about the genetic roots of various ailments. These requirements are satisfied by molecular-grade plates, which provide excellent precision and repeatability.

The need for tailored therapeutics is also driving the need for molecular-grade plates. Tools to assist in detecting genetic markers and other characteristics that might affect treatment results are becoming more and more important as healthcare practitioners work to customize therapies for individual patients. These jobs are ideally suited for molecular grade plates, which offer a dependable and affordable way to analyze genetic material. Over the projected period, the market for molecular-grade plates is anticipated to develop considerably due to the ongoing demand for molecular biology methods.

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Key Takeaways from the Market Study:

• The global molecular grade plate market is expected to grow at 4.2% CAGR through 2034.
• The market for molecular-grade plate in North America is predicted to expand at a CAGR of 4.0% through 2034.
• The industry for molecular-grade plate in East Asia is projected to grow at a CAGR of 5.9% until 2034.
• In 2024, the United States molecular grade plate market is anticipated to command an 86.5% share.
• China is anticipated to hold 58.7% of the molecular grade plate industry.

“The rising need for molecular biology techniques in research, biotechnology, and the pharmaceutical industry is anticipated to fuel growth in the global market for molecular-grade plates. The desire for customized treatments and the rising prevalence of genetic diseases drive the demand for these tools. Molecular grade plates are a perfect tool for individualized therapy because they provide accurate, consistent, and cost-effective genetic material research.” States the Fact.MR. Analyst

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Rising Prevalence of the Academic Research Spurs the Sector Evolution

Market players are gaining a competitive edge by focusing on product innovation, ensuring superior quality, and establishing strategic collaborations to meet the rising demands in life sciences and biotechnology research. Manufacturers of molecular grade plates are venturing beyond traditional product offerings by expanding their range to incorporate electronic clinical outcome evaluations. These manufacturers invest heavily in research and development to deliver sustainable and efficient digital healthcare solutions.

They also fortify their local and international distribution networks by forming partnerships with technology platforms, medical chains, and pharmacy service providers. These alliances enable them to enhance their online presence, ensure product accessibility at physical locations, and respond to the growing demand for affordable and enduring academic research services in the healthcare sector.

Key Companies Profiled:

Thermo fisher scientific; Merck KGA; Bio-Rad; Takara Bio; QIAGEN; Pall; Eppendorf Corporate; Tarsons; Applied Biological Materials; Greiner; Brooks Life Sciences; Corning Incorporate

Industry News:

In October 2023, Eppendorf presented new biobased PCR plates to expedite diagnostics, therapeutics, and personalized medicine research, enhancing precision, complexity, and automation in laboratory workflows.

In May 2023, Berkeley Lights acquired IsoPlexis and started PhenomeX to combine optofluidic and barcoding technologies for phenomic applications, aiming to enhance the company's achievements by providing innovative tools and instruments.

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