The global Microplate Instrumentation and Systems market is predicted to be valued at US$ 1.0 billion by the end of 2023, and to grow at a CAGR of 4.9% to a valuation of US$ 1.6 billion by the end of 2033. According to a recent analysis by Future Market Insights, microplate readers are predicted to lead the market with a share of over 33.7% in 2023.
The market for microplate instrumentation and systems is predicted to grow fast because to an increasing emphasis on miniaturisation and technical improvements.
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The market for microplate instrumentation and systems is growing as a result of reasons such as the pharmaceutical industry’s high R&D expenditure, the growing emphasis on miniaturisation, and the rising prevalence of illnesses.
The market is also developing due to increased demand for the diagnosis and detection of several microorganism-related infections, the need to control and prevent various dangerous infections, and the rising prevalence of chronic diseases such as cancer and autoimmune diseases.
Microplate systems are widely employed in contemporary drug discovery and development, as well as genomic and proteomic research, because they speed up and enhance test accuracy, allowing researchers to focus on more vital tasks.
As a result, the growing R&D activities in the pharmaceutical industry may be seen as a key growth driver for healthcare medical devices.
The microplate instrumentation and systems market is likely to be driven by growing demands in the biotechnology industry for automated cell-based and biochemical assays, as well as a rising incidence of chronic conditions.
Microplate systems are extremely useful for analyzing gene expression reactions, biochemical pathways, and protein measurements. Microplate systems can evaluate many samples at once.
This capability is predicted to boost the microplate systems market even further.
Furthermore, the microplate instrumentation and systems market is predicted to rise significantly owing to increase pharmaceutical R&D spending, a greater focus on miniaturization, technical improvements, and rising ailment prevalence.
The demand for microplate systems is expected to grow as a result of the current pandemic and the pharmaceutical and biotechnology sectors’ participation in restricting the virus’s spread by providing critical drugs, vaccinations, kits, and other supplies.
The market for microplate systems is expected to be limited by the increasing prices of technologically sophisticated items and a lack of awareness about enhanced quality in microplate systems.
The systems market presents a considerable barrier for small firms and new entrants. As a result, corporations must invest extensively in order to compete in the market. Furthermore, in order to succeed in the market, the microplate instrumentation and systems market players must minimize operational expenses, which is extremely challenging for small firms and new entrants.
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Key Takeaways
- Microplate readers are expected to account for approximately 33.7% of the global market in 2023.
- In 2023, the drug discovery segment is expected to account for around 37.8% of the global market. Microplates are utilised in the creation of cell-based assays. Microplates give a biologically relevant in vitro approach for forecasting medication response.
- Pharmaceutical and biotechnology firms are expected to have a global market share of roughly 46.9% in 2023.
- Germany is expected to have roughly 7.9% of the global microplate instrumentation and systems market in 2022.
- The United States is predicted to have a market share of around 37.4% in 2023, and this growth is expected to continue throughout the forecast period.
- China is expected to have a 4.7% worldwide market share in 2023.
Competitive Landscape
Danaher Corporation (US), Agilent Technologies Inc. (US), and Thermo Fisher Scientific Inc. are some of the key competitors in this industry (US). In the year 2020, Danaher Corporation was the market leader.
The corporation has a significant presence in North America, Europe, and the Asia Pacific. Furthermore, the company’s significant strength in the microplate systems market is its strong brand awareness and broad product portfolio. In 2020, Agilent Technologies Inc. (US) ranked second in the microplate systems market.
Beckman Coulter Life Sciences introduced the BioLector XT Microbioreactor in May 2021, which is equipped with FlowerPlate microtiter plate technology and is designed to allow high-throughput strain screens, feeding strategy optimization, and cultivation parameter monitoring.
Thermo Fisher Scientific introduced the Cytomat 24 line of automated incubators and storage systems for microplate incubation applications in May 2021.
More insights available:
North America dominates the Microplate Systems Market due to the high adoption of advanced laboratory automation systems, increasing research and development activities, and rising demand for personalized medicine. The United States is the largest market in the region due to the presence of major players and advanced healthcare infrastructure.
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Key Market Segments Covered in Microplate Instrumentation and Systems Industry Research
Product:
- Microplate Readers
- Single-Mode microplate reader
- Multi-Mode microplate reader
- Microplate Pipetting Systems and Dispensers
- Microplate Washers
- Other
Application:
- Drug Discovery
- Clinical Diagnostics
- Genomics & Proteomics Research
- Others
End User:
- Pharmaceutical and Biotechnology Companies
- Hospitals
- Research & Academic Institutes
- Diagnostic Centers
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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