Microplate Instrumentation and Supplies Market Report 2024

This Microplate Instrumentation and Supplies market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

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 growth during the historic period can be attributed to the expansion of biotech and pharmaceutical companies, a rising need for drug discovery and development, a greater demand for high-throughput screening tools, increased investment from government agencies, and a rise in automation.

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%. The growth during the forecast period can be attributed to the increasing demand for point-of-care testing and diagnostics, higher investments in research and development (R&D), a rising prevalence of chronic diseases, a growing focus on genetics, and an increased demand for personalized medicine. Major trends expected during this period include the integration of artificial intelligence and machine learning, the use of 3D cell cultures and organoids in research, the incorporation of cloud computing and the Internet of Things (IoT) in microplates, the adoption of robotics, and advancements in drug discovery and life sciences.

The increasing 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, customizes treatment and healthcare strategies based on an individual's unique genetic, environmental, and lifestyle factors. The surge in demand for personalized medicine is attributed to the rising prevalence of chronic diseases, growing consumer awareness, and the cost-effectiveness of such treatments. Microplate instrumentation and supplies are vital for personalized medicine, as they facilitate precise, high-throughput testing and analysis of biological samples. This technology is crucial for customizing medical treatments to individual patients' specific genetic, biomolecular, and cellular profiles. For example, in February 2024, the Personalized Medicine Coalition reported that the U.S. Food and Drug Administration (FDA) approved 16 new personalized treatments for rare diseases in 2023, a significant increase from the 6 approvals granted in 2022. Consequently, the demand for personalized medicine is fueling growth in the microplate instrumentation and supplies market.

Leading companies in the microplate instrumentation and supplies market are concentrating on developing innovative products, such as microplate readers utilizing Extended Dynamic Range (EDR) technology, to enhance assay accuracy, increase throughput, and optimize laboratory workflows. EDR technology-based microplate readers are sophisticated instruments designed to improve detection range and sensitivity across various assays, making them particularly beneficial for personalized medicine and other research fields. For instance, in February 2022, BMG LABTECH, a Germany-based company specializing in microplate readers, introduced the VANTAstar microplate reader. This new product features EDR technology, which provides a dynamic range covering over eight concentration decades in a single measurement, thus simplifying the process by removing the need for manual gain adjustments, as each plate is automatically read with optimal sensitivity settings.

In January 2023, Thermo Fisher Scientific, a U.S.-based life sciences and clinical research company, acquired the Binding Site Group for $2.8 billion. This acquisition is intended to bolster Thermo Fisher's capabilities in the diagnostics market, with a particular focus on oncology, and to enhance its service offerings to healthcare providers and patients. The Binding Site Group, also based in the U.S., is a manufacturer of microplate instrumentation and supplies.

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.

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.

The countries covered in the microplate instrumentation and supplies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Microplate instrumentation and supplies refer to the equipment and consumables used with microplates, which are flat plates with multiple wells functioning such as small test tubes. They are essential for high-throughput screening, diagnostics, and various research applications, allowing for the efficient, precise, and reproducible handling and analysis of multiple samples simultaneously.

The primary types of microplate instrumentation and supplies include microplate readers, microplate washers, microplate dispensers, microplate accessories, and other related items. Microplate readers, also known as plate readers or microplate photometers, are laboratory instruments designed to detect biological, chemical, or physical events in samples contained in microtiter plates. These products are distributed through various sales channels, including direct and indirect sales. They are utilized by various industries, such as pharmaceuticals, food and beverages, chemicals and polymers, among others.

The microplate instrumentation and supplies market research report is one of a series of new reports that provides microplate instrumentation and supplies market statistics, including microplate instrumentation and supplies industry global market size, regional shares, competitors with microplate instrumentation and supplies market share, detailed microplate instrumentation and supplies market segments, market trends, and opportunities, and any further data you may need to thrive in the microplate instrumentation and supplies industry. This microplate instrumentation and supply research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The microplate instrumentation and supplies market consists of the sale of microplate readers, microplate sashers, microplate dispensers, and microplate accessories. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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