What’s Driving Growth in the Microplate Instrumentation And Supplies Market? Insights into Key Trends and Opportunities
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How has the microplate instrumentation and supplies market grown in recent years?
There has been a significant increase in the size of the microplate instrumentation and supplies market in the past few years. It is projected to escalate from a market worth $6.96 billion in 2024 to a value of $7.49 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 7.6%. Such notable growth during the historical period can be traced back to the expansion of biotech and pharmaceutical firms, soaring demand for drug discovery and development, the need for high-throughput screening tools becoming more prevalent, increased governmental support and investment, and advancements in automation.
How is the microplate instrumentation and supplies market size expected to evolve during the forecast period?
In the coming years, the microplate instrumentation and supplies market is anticipated to experience robust expansion. By 2029, it is projected to reach a size of $9.93 billion, reflecting a compound annual growth rate (CAGR) of 7.3%. This surge can be traced back to increasing demands for diagnostics and point-of-care testing, substantial investments in research and development (R&D), escalating prevalence of chronic illnesses, accentuating focus on genetic studies, and the increasing demands for personalized medicine. The upcoming phase is expected to witness significant trends such as the incorporation of artificial intelligence and machine learning, rising adoption of 3D cell cultures and organoids for research, the blending of cloud computing and the Internet of Things (IoT) in microplates, the inclusion of robotics, and advancements in life science and drug discovery.
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Which key drivers are propelling the microplate instrumentation and supplies market’s growth?
Advances in personalized medicine are anticipated to fuel the expansion of the microplate instrumentation and supplies market in the coming years. Personalized or precision medicine tailors therapeutic interventions and healthcare strategies according to a patient’s unique genetic makeup, environmental influences, and lifestyle details. The increased demand for personalized medicine is attributable to a growing prevalence of chronic diseases, heightened consumer awareness and expectations, and value for money considerations. Microplate instrumentation and supply are instrumental in this field, providing accurate, large-scale testing and analysis of biological specimens, a fundamental component in customizing medical treatments based on individual patient’s unique genetic, biomolecular and cellular distinctions. As an example, in February 2024, the U.S. Food and Drug Administration (FDA), a government entity in the US, confirmed 16 new personalized therapies specifically designed for patients with uncommon conditions in 2023, as reported by the Personalized Medicine Coalition, a significant step forward compared to just 6 approvals in 2022. Hence, the escalating demand for personalized medicine is propelling the microplate instrumentation and supplies market.
What are the market segments in the microplate instrumentation and supplies industry?
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
Subsegments:
1) By Microplate Readers: Absorbance Readers Or Fluorescence Readers Or Luminescence Readers Or Multimode Readers
2) By Microplate Washers: Manual Microplate Washers Or Automated Microplate Washers
3) By Microplate Dispensers: Manual Microplate Dispensers Or Automated Microplate Dispensers
4) By Microplate Accessories: Sealing Films Or Plate Holders Or Plate Stands
5) By Other Accessories: Microplates (Well Plates) Or Microplate Racks Or Microplate Readers’ Calibration Kits
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Which leading companies are shaping the growth of the microplate instrumentation and supplies market?
Major companies operating in the microplate instrumentation and supplies 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.
What key trends are currently impacting the microplate instrumentation and supplies market’s development?
Key industry players in the microplate instrumentation and supplies market are focusing on creating innovative products, such as microplate readers that use EDR technology, with the aim to enhance assay precision, boost throughput, and optimize lab procedures. Microplate readers utilizing EDR (Extended Dynamic Range) technology are cutting-edge tools created to amplify the scope and sensitivity of detection in a variety of assays, which is especially beneficial in personalized medicine and other research activities. For instance, BMG LABTECH, a firm based in Germany that specializes in the development of microplate readers, unveiled a new product called the VANTAstar microplate reader in February 2022. Incorporating EDR technology, this product boasts a dynamic range that covers more than eight concentration decades in a single measurement, thereby simplifying the task by removing the necessity for manual gain modifications as each plate is automatically read with the ideal sensitivity settings.
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Which geographic areas are influencing the growth of the microplate instrumentation and supplies market?
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.
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