Global Microplate Instrumentation and Systems Market, estimating a 4.9% CAGR over the period spanning 2023 to 2033

Microplate Instrumentation and Systems Market

The global microplate instrumentation and systems market size is projected to expand at an average CAGR of 4.9% from 2023 to 2033. The target market will accrue a value of US$ 1.6 billion by 2033, scaling up from US$ 1.0 billion in 2023, respectively. It is estimated that the leading five countries will account for 60.7% of the microplate instrumentation and systems market share during the forecast period. Factors such as the growing demand for the miniaturization of devices and the adoption of advanced technology are likely to drive the growth of the microplate instrumentation and systems market.

Increasing research and development efforts and spending by the pharmaceutical industry, heightened emphasis on miniaturization, and the growing cases of various diseases foster an environment of growth for the microplate instrumentation and systems market. An upsurge in demand for accurate diagnosis and detection of various microorganism-related infections, the need to control and prevent severe infections, and the increasing cases of chronic illnesses like cancer and autoimmune disorders also stimulate the growth of the target market in the forthcoming years.

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The market for microplate instrumentation and systems is positively influenced by growing research and innovation activities in the field of virology and serology. Further, the target market is not restricted to applications in pharmaceutical or the healthcare sectors. Microplate instrumentation and systems also find usage in the food and cosmetic sectors. All of these industries make use of superior-quality microplate readers which are specifically designed for the respective industry. This factor is expected to strengthen market prospects for microplate instrumentation and systems during 2023 and 2033.

A microplate reader is a handy tool for high-throughput measurements. The device and ELISA are used in medical tests as a high-throughput diagnostic tool for detecting biomarkers in urine or blood. A microplate reader is also used in environmental monitoring to identify and analyze the contaminants in a liquid environmental sample to determine the water quality. Thus, microplate readers are a vital part of high-throughput biochemical assays across sectors like medical testing, environmental control, food analysis, and others. All of these considerations propel the microplate instrumentation and systems market forward during the projection period.

Key Takeaways:

• The need for expensive machinery and highly skilled workers may stunt the growth of the microplate instrumentation and systems market.
• By product, the microplate readers segment is dominating the international market space with the ownership of a 33.7% share in 2023.
• Based on application, the drug discovery category will lead the market with a share of 37.8%.
• The microplate instrumentation and systems market in the US will account for 37.4% of the market share in 2023 and will continue to exhibit strong growth throughout the assessment period.
• Germany’s microplate instrumentation and systems market will hold 7.9% of the overall market share during 2023.

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Competitive Landscape: 

AESKU, Accuris Instruments, Diagnostics GmbH & Co. KG, Agilent Technologies, Inc., A&D Company Limited., Andrew Alliance SA, and Apricot Designs, Inc., among others, are some of the prominent players in the microplate instrumentation and systems market profiled in the full version of the report.

More Insights into Microplate Instrumentation and Systems Market: 

FMI offers the latest, unbiased, and detailed analysis of the global microplate instrumentation and systems market, providing historical data from 2017 to 2022 and forecast statistics for 2023 to 2033. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of product, application, end users, and region.

According to the reports, based on segmentation, the pharmaceutical and biotechnology companies will likely be the leading category on the basis of end-use. This category will hold about 46.9% of the market share in 2023. Significant research and development activities from these pharmaceutical and biotechnology companies will contribute to the growth of the overall market.

Based on region, the microplate instrumentation and systems market in the US will display impressive growth. The target market in this region will account for a market share of 37.4%. Factors like increasing government initiatives, the popularity of personalized medicines, and the expansion of public and private funding for diagnostic research are accountable for this growth. Other countries like Germany, Japan, and China also aid the growth of the microplate instrumentation and systems market during this period of observation.

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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

Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• The Middle East and Africa (MEA)

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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