Industry Outlook

Microplate instrumentation are important devices used in cell culture and other research. Initially used only in research settings, these equipment have witnessed adoption in disease diagnostics, and therefore in diagnostic laboratories and hospitals. Microplate instrumentation and supplies are laboratory equipment used for understanding the discovery and development of drugs, and assessing the biological, chemical and physical reactions in any research. Microplate systems and supplies are therefore imperative in testing processes such as gene expression, toxicity, protein quantification, and biological reactions. Most of these instrumentation are applied in manufacturing processes, drug discovery, disease diagnostics and bioassays. Due to their ability to analyze several samples simultaneously, the demand for microplate instrumentation and supplies is high in research settings. Continuous technological advancements have availed interactive user interface to the customers and data exchange. These devices generally operate on the principles of absorbance, fluorescence and luminescence.

The global microplate instrumentation and supplies market shall be steadily growing during the forecast period. New product developments, and growing investments for product innovations enabling reliable data generation as against traditional analysis methods are the prime drivers of the global microplate instrumentation and supplies market. Furthermore, automation in microplate readers have also augmented convenience in the use of microplates for research purposes. ,other factors that drive the growth of the microplate instrumentation and supplies market are growing research funding and number of laboratories, rise in diseases and growing need for novel treatments and drugs. However, high costs of advanced microplate readers and lack of skilled personnel ay restrain the market growth.

"Market to witness rapid adoption of microplate readers contributing to significant revenue generation"

The major manufacturers in the microplate instrumentation and supplies industry are intensively focusing on introducing innovative instruments, and analytical tools that can be effectively and conveniently adopted in any clinical setting across several applications. Thus manufacturers are actively focusing on creating microplate readers that are fast, reduce lead time, convenient to use, while giving precise reading at optimum convenience. Such readers operate on the principle of absorbance, fluorescence, and luminescence. Major market players have also introduces customized and hybrid microplate readers suiting precise needs of users, the recent advancement being nano microplate readers for reading cell and protein proliferation. Microplate readers segment is categorized into multi-mode microplate readers (filter-based microplate readers, monochromator-based microplate readers, hybrid microplate readers) and single-mode microplate readers (absorbance plate readers, luminescence plate readers and fluorescence plate readers).

"High demand for microplate instrumentation to come for drug discovery and development"

Each year the number of new molecular entities is consistently growing. The overall pharmaceutical industry is not witnessing prominent returns at it once did for lesser number of blockbuster drugs. This implies that the industry is refocusing on smaller pockets of the market and tapping smaller yet relevant opportunities to deliver potential benefits to select group of patients. This has therefore given a clearer and more prominent need for manufacturers to take correct and swift decisions on pipeline projects and also explore more efficient methods of discovering new targets. New technologies have vital value as they enable and allow simpler assay development and further removal of non-relevant or specific compounds. While new technologies are needed for a wide range of new drugs to be developed, a major part of identification of such molecules and candidates is performed with microplate readers. Thus, improvements in the field of microplate instrumentation are vital for the progress of pharmaceuticals industry.

"Pharmaceutical & biotech industry to gather the largest revenue share"

Pharmaceuticals and biotechnology manufacturers form the largest usage area for microplate instrumentation and supplies. Microplate instrumentation and supplies are used for either determining biological, physical or chemical events occurring in the microtiter plates, and are often used in academia and biotech and pharmaceutical industries. These devices are witnessing continuous progress towards delivering the best throughput, functionality and flexibility as the users of these systems requirement better reliability, ease of use and quicker learning curve. In research and academia, 96 well plates find the most common usage, where 384 well plates are the norm in industrial use. The newer generation of microplate readers are also being impacted by the growing need to use lesser amounts and counts of reagents and consume lesser quantity of sample.

"North America and Asia Pacific are the most prominent regional markets"

Geographically, this market is categorized into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Among these, North America and Europe are the largest markets and will retain their dominance through the forecast period, attributed by high demand for new technologies, higher funding for research and development, greater awareness among researchers and domicile of major market players in the regions. The Asia Pacific market, on the other hand will be witness rapid proliferation in terms of market growth. This is mainly due to swift development of the biotechnology industry in the region, increasing outsourcing of research initiatives, and increasing funding from foreign investments and governments.

This report also includes company profiles section that gives insights on the company overview, product portfolio, financial information and key developments of major market players. The major players profiled in this report include Agilent Technologies, Inc., Beckman Coulter (Danaher Corporation), BioTek Instruments, Inc., Berthold Technologies GmbH & Co. KG, BMG LABTECH GmbH, Corning Incorporated, Eppendorf AG, PerkinElmer Inc., Thermo Fisher Scientific, Mindray Medical International Limited, Promega Corporation, Lonza Group Ltd., and Tecan Group Ltd.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Microplate Instrumentation And Supplies market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Microplate Instrumentation And Supplies market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Microplate Instrumentation And Supplies market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Microplate Instrumentation And Supplies market?
• Which is the largest regional market for Microplate Instrumentation And Supplies market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Microplate Instrumentation And Supplies market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Microplate Instrumentation And Supplies market worldwide?