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29-Jan-2025

Microplate Instrumentation and Systems Market to Reach USD 1.6 Billion by 2033 at a 4.9% of CAGR, Driven by Advancements in Laboratory Automation

Microplate Instrumentation and Systems Market

The global microplate instrumentation and systems market is on a steady growth trajectory, reaching an estimated valuation of USD 1.0 billion by the end of 2023. With a projected compound annual growth rate (CAGR) of 4.9%, the market is set to expand further, reaching USD 1.6 billion by 2033.

According to a recent study by Future Market Insights, microplate readers are leading the market, holding an expected share of approximately 33.7% in 2023. The increasing demand for high-throughput screening, advancements in laboratory automation, and the growing adoption of microplate-based assays in research and diagnostics are key drivers propelling market growth.

The rising prevalence of chronic diseases, expanding biopharmaceutical research, and the need for efficient, precise laboratory equipment are further fueling the demand for microplate instrumentation. Innovations in detection technologies, integration with AI-driven data analysis, and cloud-based lab management solutions are expected to shape the market’s future.

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Key Takeaways:

  • The global microplate instrumentation and systems market is projected to grow from USD 1.0 billion in 2023 to USD 1.6 billion by 2033, at a 4.9% CAGR.
  • Microplate readers are leading the market, accounting for an expected share of 33.7% in 2023.
  • Growth is driven by increased demand for high-throughput screening, laboratory automation, and advanced microplate-based research techniques.
  • Technological advancements, including AI and cloud integration, are set to further transform the industry.
Answer The global microplate instrumentation and systems market is projected to reach a valuation of USD 1.0 billion by the end of 2023 and is expected to expand at a compound annual growth rate (CAGR) of 4.9%, reaching approximately USD 1.6 billion by 2033. Microplate readers are anticipated to lead the market with a share of about 33.7% in 2023.

Key Market Insights

  1. Market Growth Drivers:
    • The growth of the microplate instrumentation and systems market is primarily driven by the increasing demand for high-throughput screening in drug discovery, diagnostics, and research applications.
    • The pharmaceutical industry’s substantial investment in research and development is a significant factor contributing to the market’s expansion.
  2. Technological Advancements:
    • Continuous advancements in microplate technology, including automation and miniaturization, enhance the efficiency and accuracy of laboratory processes, further boosting adoption rates.
  3. Rising Incidence of Chronic Diseases:
    • The growing prevalence of chronic diseases necessitates advanced diagnostic tools, which increases demand for microplate systems used in various assays and testing methods.
  4. Focus on Personalized Medicine:
    • The shift towards personalized medicine approaches requires precise data collection and analysis, driving the need for sophisticated microplate instrumentation.
  5. Geographical Trends:
    • North America is expected to dominate the market due to high research spending and the presence of leading pharmaceutical companies.
    • Emerging markets in Asia-Pacific, particularly China and India, are also expected to see significant growth due to increased investments in healthcare infrastructure and research capabilities.

Key Companies Covered

A&D Company, Limited; Accuris Instruments; AESKU, Diagnostics GmbH & Co. KG; Agilent Technologies, Inc.; AHN Biotechnologie GmbH; AID GmbH; AMEDA Labordiagnostik GmbH; Andrew Alliance SA; Apricot Designs, Inc.; Aptaca SpA

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)

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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T: +1-347-918-3531

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Last Updated: 29-Jan-2025