Global Microplate Instrumentation And Supplies Market Analysis: Size, Drivers, Trends, Opportunities And Strategies
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The microplate instrumentation and supplies market size has shown strong growth in recent years, with expectations of growth from $6.49 billion in 2023 to $6.96 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The historic growth is attributed to the expansion of biotech and pharmaceutical companies, the increasing need for drug discovery and development, a growing demand for high-throughput screening tools, increasing investments from government agencies, and a rise in automation. Looking ahead, the market is projected to reach $9.26 billion in 2028, growing at a CAGR of 7.4%. This growth in the forecast period is attributed to the rising demand for point-of-care testing and diagnostics, increased investments in research and development (R&D), a rising frequency of chronic diseases, growing emphasis on genetics, and increased demand for personalized medicine. Major trends expected in this period include the integration of artificial intelligence and machine learning, the adoption of 3D cell cultures and organoids in research, the integration of cloud computing and the Internet of Things (IoT) in microplates, advancements in robotics, and innovations in drug discovery and life sciences.
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.
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What Are The Key Trends That Influence Microplate Instrumentation And Supplies Market Share Analysis?
Major companies in the microplate instrumentation and supplies market are focused on developing innovative products, such as microplate readers based on EDR (Extended Dynamic Range) technology, to enhance assay accuracy, increase throughput, and streamline laboratory workflows. EDR technology-based microplate readers are advanced instruments designed to improve detection range and sensitivity in various assays, making them particularly useful in personalized medicine and other research applications. For example, in February 2022, BMG LABTECH, a Germany-based company specializing in microplate readers, launched the new VANTAstar microplate reader. This product features EDR technology, enabling a dynamic range that spans over eight concentration decades in a single measurement, simplifying the process by eliminating the need for manual gain adjustments, as each plate is automatically read with optimal sensitivity settings.
Which Market Players Are Driving Growth In 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.
How Is The Global Microplate Instrumentation And Supplies Market Segmented?
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
Read The Full Microplate Instrumentation And Supplies Market Report Here
The Microplate Instrumentation And Supplies Global Market Report 2024 provides an overview of the microplate instrumentation and suppliesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The microplate instrumentation and supplies market forecast analyzes microplate instrumentation and supplies market size, microplate instrumentation and supplies market share, leading competitor and their market positions.
The Table Of Content For The Microplate Instrumentation And Supplies Market Include
1. Microplate Instrumentation And Supplies Market Executive Summary
2. Microplate Instrumentation And Supplies Market Segments
3. Microplate Instrumentation And Supplies Market Size And Template Market Growth Rate
4. Key Microplate Instrumentation And Supplies Market Trends
5. Major Microplate Instrumentation And Supplies Market Drivers
……
25. Key Mergers And Acquisitions In The Microplate Instrumentation And Supplies Market
26. Top Microplate Instrumentation And Supplies Companies
27. Microplate Instrumentation And Supplies Market Opportunities And Strategies
28. Microplate Instrumentation And Supplies Market, Conclusions And Recommendations
29. Appendix
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