Future Market Insights (FMI) has recently published a report titled ‘Microplate Instrumentation and Supplies Market: Global Industry Analysis 2013-2017 and Opportunity Assessment 2018-2027.’ Microplate instrumentation and supplies are commonly used in various industries such as pharmaceutical, biotechnology and academic research laboratories. Microplate readers and instrumentation play a vital role during the research experiments conducted in laboratories. Nowadays, various research professionals and scientists prefer microplate instrumentation and supplies as compared to conventional test tubes.
One of the main product segments of the microplate instrumentation and supplies market is the microplate reader, which is commonly used for a variety of experiments to detect the physical, biological and chemical events on various samples in several industries. It plays a vital role in the measurement of absorbance, luminescence and fluorescence. The microplate instrumentation and supplies market is driven by various applications in serology and virology. Moreover, the microplate instrumentation and supplies market is driven by the growing demand for drug discovery and high spending on research in various industries such as pharmaceutical, biotechnology, etc.
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The global microplate instrumentation and supplies market is expected to grow at a CAGR of 3.9% during the forecast period. The value of the microplate instrumentation and supplies market stood at US$ 4,640.1 Mn in 2017, and is expected to grow significantly and reach US$ 6,763.6 Mn by 2027.
Rapid Adoption of Multi-mode Microplate Readers with High Optical Performance Witnessed in the Biotechnology and Pharmaceutical Industries
High demand for multi–mode microplate readers is witnessed in various industries, such as biotechnology and pharmaceuticals, across the globe. Various leading manufacturers are focusing on product innovations and the launch of upgraded microplate readers, which not only measure common reading modes such as luminescence and fluorescence intensity, but are also equipped with specialised modalities such as Bioluminescence Resonance Energy Transfer (BRET), etc. Currently, the need for instruments with better optical performance is high as they help boost assay performance. Another factor that plays a vital role in the growth of the microplate instrumentation and supplies market is the ease of use of microplate instrumentation and supplies. Hence, the leading players in the microplate instrumentation and supplies market are focusing on innovations in their product lines to offer easy to use and portable products.
Automated Microplate Washers Gaining Traction Owing to the Demand for Improved Assay Performance
Automated microplate washers offer benefits such as the automated washing of protein arrays, cells and other additional benefits, which include automated systems for vacuum filtration. Manufacturers are offering/launching automated microplate washers with benefits that can serve various applications to stay competitive in the market. For example, Biotek Instruments, Inc. offers a variety of microplate washers. These companies are focusing on the customisation of products as per the requirements of end users.
For example, Biotek Instruments (based in the US) offers microplate washers with dispensing options and a touchscreen. Moreover, these washers accommodate a wide variety of applications that include ELISA, cell based assays, vacuum filtration assays and biomagnetic separation. Various leading players in the microplate instrumentation and supplies market, such as Perkin Elmer, Promega and Eppendorf, have recently launched automated microplate washers that offer various benefits.
Growing Investments in Drug Discovery and Research Boosting Microplate Instrumentation and Supplies Market Growth
In the U.S., R&D investments by pharmaceutical companies have been increasing in the past few years, which is driving the sales of microplate instrumentation and supplies. North America is expected to be a prominent microplate instrumentation and supplies market owing to factors such as high spending on R&D and stringent regulations related to drug discovery. Furthermore, the U.S. is estimated to increase spending on R&D in the next few years. North America is followed by China, which spends ~2% of its GDP on R&D. However, Japan spends a large share of its GDP on R&D as compared to the U.S. and China.
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The global microplate instrumentation and supplies market is estimated to expand at a CAGR of 3.9% owing to high investments in R&D, the growing trend of outsourcing R&D in the pharmaceutical industry to low-cost developing countries, an increase in the number of Contract Research Organizations (CROs) and high focus on the replacement and upgradation of obsolete laboratory equipment.