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Growth Strategies Followed by Key Players in the Microplate Systems Market

The global microplate system market is expected to reach USD 996.9 Million by 2022 from USD 820.3 Million in 2017, at a CAGR of 4.0%. This market is experiencing significant growth due to increasing R&D expenditure in the pharmaceutical industry, increasing focus on miniaturization, technological advancements, and growing prevalence of diseases.
Collaborations, agreements, & partnerships accounted for the largest share of the overall growth strategies followed by key players between 2014 and 2017. Some of the companies that adopted this strategy include PerkinElmer (US), Danaher (US), Tecan (Switzerland), Thermo Fisher (US), BMG LABTECH (UK), Agilent (US), and Biochrom (UK).
The microplate systems market is highly competitive with the presence of several big and small players. In 2016, Tecan (Switzerland), Bio-Rad (US), Thermo Fisher (US), Danaher (US), and PerkinElmer (US) were the leading players in the microplate systems market. Other major players include BioTek (UK), BMG LABTECH (Germany), BERTHOLD (Germany), Agilent (US), Promega (US), Biochrom (UK), Corning (US), Lonza (Switzerland), Rayto (China), and Mindray (China).
Tecan (Switzerland) was one of the leading players in the microplate systems market. This leading position of the company can be attributed to its strong brand recognition. It has a strong presence in North America, Europe, and Asia. In order to maintain its leading position in the microplate systems market, the company focuses on research and development activities. The company invested USD 47.1 million, USD 39.9 million, and USD 39.5 million in R&D activities in 2014, 2015, and 2016, respectively. The company also focuses on inorganic and organic growth strategies like product launches, expansions, agreements, acquisitions, and collaborations to gain a competitive edge. For instance, in June 2017, the company collaborated with DiaSorin (Italy), under this agreement DiaSorin will make use of Tecan's Fluent Laboratory Automation Solution as its Nucleic Acid extraction platform. Likewise, in February 2015, the company launched the Spark 10M multi-mode microplate reader.
Bio-Rad (US) was one of the major players in the microplate systems market. The company operates in over 35 countries across the globe. In order to maintain its leading position in the microplate systems market, the company focuses on inorganic growth strategies. For instance, in April 2014, Bio-Rad acquired GnuBIO. This acquisition enhanced Bio-Rad’s strategic position and integrated innovative technologies to provide superior diagnostic products to its customers.
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Microplate Systems Market by Product (Microplate Reader (Multi-mode {Hybrid}, Single-mode), Dispenser, Software), Application (Research, Clinical Diagnostics) & End User (Biotechnology, Pharmaceutical, Hospital, Diagnostic Labs) - Forecast to 2022
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