The microplate instrumentation and supplies global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Microplate Instrumentation And Supplies Market, 2024The microplate instrumentation and supplies global market report 2024
Market Size –
The microplate instrumentation and supplies market size has grown strongly in recent years. It will grow from $6.49 billion in 2023 to $6.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to expansion of biotech and pharmaceutical companies, increasing the need for drug discovery and development, increasing the need for high-throughput screening tools, increasing investment from government agencies, and rising automation.
The microplate instrumentation and supplies market size is expected to see strong growth in the next few years. It will grow to $9.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to the growing demand for point-of-care testing and diagnostics, investments in research and development (R&D), rising frequency of chronic diseases, growing emphasis on genetics, and rising demand for personalized medicine. Major trends in the forecast period include integration of artificial intelligence and machine learning, adoption of 3D cell cultures and organoids in research, integration of cloud computing and internet of things (IoT) in microplates, integration of robotics, and developments in drug discovery and life science.
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The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Overview
Market Drivers -The rising demand for personalized medicine is anticipated to drive the growth of the microplate instrumentation and supplies market in the near future. Personalized medicine, or precision medicine, is an approach that tailors treatment and healthcare strategies to individual patients based on their unique genetic, environmental, and lifestyle factors. This demand is fueled by the growing incidence of chronic conditions, heightened consumer awareness and expectations, and cost-effectiveness. Microplate instrumentation and supplies are essential in personalized medicine as they enable precise, high-throughput testing and analysis of biological samples, which is crucial for customizing medical treatments based on each patient’s distinct genetic, biomolecular, and cellular profiles. For instance, according to the Personalized Medicine Coalition Reports in February 2024, the U.S. Food and Drug Administration (FDA) approved 16 new personalized treatments for patients with rare diseases in 2023, a significant increase from the six approvals in 2022. Therefore, the rising demand for personalized medicine is propelling the growth of the microplate instrumentation and supplies market.
Market Trends –
Major companies operating in the microplate instrumentation and supplies market are focused on developing innovative products, such as EDR technology-based microplate readers, to improve assay accuracy, increase throughput, and streamline laboratory workflows. EDR (Extended Dynamic Range) technology-based microplate readers are advanced instruments designed to enhance the range and sensitivity of detection in various assays, which is particularly useful in personalized medicine and other research applications. For instance, in February 2022, BMG LABTECH, a Germany-based company specializing in developing microplate readers, launched the new VANTAstar microplate reader. This product incorporates EDR technology, which allows for a dynamic range spanning over eight concentration decades in a single measurement. This feature simplifies the process by eliminating the need for manual gain adjustments, as each plate is automatically read with optimal sensitivity settings.
The microplate instrumentation and supplies market covered in this report is segmented –
1) By Product Type: Microplate Readers, Microplate Washers, Microplate Dispensers, Microplate Accessories, Other Accessories
2) By Sales Channel: Direct Sales, Indirect Sales
3) By End-User Industries: Pharmaceuticals, Food And Beverages, Chemicals And Polymer, Other End-User Industries
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Regional Insights –
North America was the largest region in the microplate instrumentation and supplies market in 2023. The regions covered in the microplate instrumentation and supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Thermo Fisher Scientific Inc., Danaher Corporation, The Merck Group, Corning Incorporated, Agilent Technologies Inc., Lonza Group AG, Beckman Coulter Inc., PerkinElmer Inc., Bio-Rad Laboratories Inc., Eppendorf AG, Promega Corporation, Hamilton Company, Molecular Devices LLC, Analytik Jena AG, Biochrom Ltd., OriGene Technologies Inc., Berthold Technologies GmbH & Co. KG, BMG LABTECH GmbH, BrandTech Scientific Inc., Hudson Robotics Inc., Labnet International Inc.
Table of Contents
1. Executive Summary
2. Microplate Instrumentation And Supplies Market Report Structure
3. Microplate Instrumentation And Supplies Market Trends And Strategies
4. Microplate Instrumentation And Supplies Market – Macro Economic Scenario
5. Microplate Instrumentation And Supplies Market Size And Growth
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27. Microplate Instrumentation And Supplies Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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