Press release
Microplate Instrumentation and Supplies Market Report, Size, Share, Growth, Analysis, Forecast to 2033
Microplate Instrumentation and Supplies Market
The new report published by The Business Research Company, titled Microplate Instrumentation And Supplies Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, 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 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%.
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What Is Driving The Growth Of The Global Microplate Instrumentation And Supplies Market?
Rising Demand For Personalized Medicine Fuels Growth In Microplate Instrumentation And Supply
The rising demand for personalized medicine is expected to propel the growth of the microplate instrumentation and supplies market going forward. Personalized medicine, or precision medicine, is a medical approach that tailor's treatment and healthcare strategies to individual patients based on their unique genetic, environmental, and lifestyle factors. The rising demand for personalized medicine is due to the growing incidence of chronic conditions, consumer awareness and expectations, and cost-effectiveness. Microplate instrumentation and supplies play a crucial role in personalized medicine by enabling precise, high-throughput testing and analysis of biological samples. This capability is essential for tailoring medical treatments to individual patients based on their unique genetic, biomolecular, and cellular profiles. For instance, in February 2024, according to the Personalized Medicine Coalition Reports, a US-based government organization, the U.S. Food and Drug Administration (FDA) approved 16 new personalized treatments specifically for patients with rare diseases in 2023, marking a significant increase from the 6 approvals in 2022. Therefore, the rising demand for personalized medicine drives the microplate instrumentation and supply market.
What Is The Key Trend In The Global Microplate Instrumentation And Supplies Market?
Innovative Microplate Readers Enhancing Accessibility And Performance In Laboratory Research
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.
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
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How Is The Competitive Landscape Of The Global 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.
Contents Of The Global Microplate Instrumentation And Supplies Market
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
…..
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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