Soaring Demand Set to Propel Microplate Systems Market to $2.13 Billion by 2029

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What Is the Expected CAGR for the Microplate Systems Market Through 2025?_x000D_
In recent years, there has been a rapid growth in the microplate systems market size. The market value is projected to rise from $1.28 billion in 2024 to $1.42 billion in 2025, growing at a compound annual growth rate (CAGR) of 11.1%. The historic period growth is credited to the escalating prevalence of chronic illnesses, enhanced government initiatives and funding, an augmented focus on early detection and individualized treatment, improvements in healthcare infrastructure in burgeoning economies, and economic growth._x000D_
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What's the Projected Size of the Global Microplate Systems Market by 2029?_x000D_
The market size for microplate systems is projected to undergo rapid expansion over the coming years, expanding to $2.13 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 10.7%. Reasons for the surge during this period include the escalating prevalence of chronic ailments, increasing government initiative and funding, greater emphasis on early detection and customised medication, enhancement of health care facilities in developing economies and economic growth. Upcoming trends during this forecast period comprise progressive adoption of automation and robotics, increased demand for high-throughput screening (HTS), improvements in microplate reader technologies, burgeoning attention to personalized medicine and advancements in diagnostics and drug discovery._x000D_
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Top Growth Drivers in the Microplate Systems Industry: What's Accelerating the Market? _x000D_
The growth of the microplate systems market is poised to be fueled by the surge in research and development activities. These activities, performed by organizations, corporations, or governmental entities, focus on innovating and generating new products, services, or methodologies, using a systematic approach to evolve and advance scientific and technological understanding. The escalation in such activities is largely brought on by factors such as consumer needs, regulatory mandates, and government endorsements and funding. Microplate systems offer the possibility of high-throughput screening, minimizing the time and expenses involved in drug discovery by simultaneous testing of thousands of compounds and improving replication with automated liquid handling and data analysis, thereby hastening research and development. For example, the National Center for Science and Engineering Statistics, a statistical agency based in the US, reported in January 2024 that anticipated estimates for 2022 suggest an increase in U.S. research and development expenditure to $886 billion, following a rise of $72 billion in 2021, making the overall total $789 billion. As such, the growth of the microplate systems market is being propelled by the increasing research and development activities._x000D_
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What Trends Will Shape the Microplate Systems Market Through 2029 and Beyond?_x000D_
Leading corporations in the microplate systems market are concentrating on creating cutting-edge products, such as multi-mode microplate readers. These innovations are aimed at increasing the versatility and effectiveness of laboratory research and diagnostics. Multi-mode microplate readers, advanced lab tools, have the ability to perform multiple detection methods, which allows for a variety of biochemical and cell-based assays to be carried out using a single device. This kind of streamlined functionality accelerates the rate of scientific investigations and diagnostics. One such example occurred in April 2022 when Molecular Devices, LLC., a US-based R&D company, unveiled the SpectraMax Mini Microplate Reader. This compact and cost-effective solution was developed primarily to alleviate the pressure on researchers' workspace and financial plan. The device can support diverse detection modes, such as UV-visible absorbance, fluorescence, and luminescence, and provides the freedom for a user to upgrade from two to three modes according to changing research requirements. The reader can handle plate formats from 6 to 384 wells and boasts an extended wavelength range of 250 to 850 nm utilizing xenon flash lamps. This feature enables the device to measure in the UV range, proving beneficial for certain applications, such as tryptophan assays. It also comes with an in-built microplate reader control and data analysis software, the SoftMax Pro Software, which includes predefined procedures for frequently conducted applications, consequently saving time._x000D_
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What Are the Main Segments in the Microplate Systems Market?_x000D_
The microplate systemsmarket covered in this report is segmented - _x000D_
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1) By Product Type: Multi-Mode Microplate Readers, Single-Mode Microplate Readers, Microplate Washers, Microplate Handlers, Other Product Types_x000D_
2) By Application: Drug Discovery, Clinical Diagnostics, Genomics And Proteomics Research, Other Applications_x000D_
3) By End-User: Pharmaceutical And Biotechnology Companies, Hospitals And Diagnostic Laboratories, Academic And Research Institutes, Contract Research Organizations (CROs), Other End-Users_x000D_
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Subsegments:_x000D_
1) By Multi-Mode Microplate Readers: Absorbance Readers, Fluorescence Readers, Luminescence Readers, Time-Resolved Fluorescence (TRF) Readers, AlphaScreen And FRET Readers _x000D_
2) By Single-Mode Microplate Readers: Absorbance-Only Readers, Fluorescence-Only Readers, Luminescence-Only Readers, Polarization-Based Readers, Chemiluminescence Readers _x000D_
3) By Microplate Washers: Automated Microplate Washers, Manual Microplate Washers, Multi-Channel Washers, High-Throughput Washers _x000D_
4) By Microplate Handlers: Robotic Plate Handlers, Automated Plate Transport Systems, Microplate Stackers, Microplate Lifting Devices _x000D_
5) By Other Product Types: Microplate Sealing Systems, Microplate Shakers, Microplate Incubators, Microplate Staining Systems _x000D_
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Which Top Companies are Driving Growth in the Microplate Systems Market?_x000D_
Major companies operating in the microplate systems market are Thermo Fisher Scientific Inc., Danaher Corporation, Corning Incorporated, Agilent Technologies Inc., Lonza Group AG, PerkinElmer, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Bio-Rad Laboratories Inc., Bruker Corporation, Horiba Scientific, Eppendorf SE, Tecan Group Ltd., Hamilton Company, Greiner Bio-One International GmbH, Promega Corporation, Molecular Devices LLC, Berthold Technologies GmbH & Co. KG, BMG Labtech, Biochrom Ltd., JASCO, Enzo Life Sciences Inc., Accuris Instruments, Hudson Robotics Inc., Kbiosystems Ltd._x000D_
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Which Regions Will Dominate the Microplate Systems Market Through 2029?_x000D_
North America was the largest region in the microplate systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the microplate systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa._x000D_
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