Automated plate handlers market is anticipated to grow at a moderate CAGR of 3.5% during the forecast period (2024-2031). An automated plate handler is a system that stores and handles plates and integrates with laboratory devices. The growing biotechnology sector owing to the rising burden of chronic disorders along with increasing investment in the R&D of advanced drugs is a key factor driving the growth of the global market. However, the high cost of these products may restrain its market growth. 

Market Dynamics

Growing Investment in Genomics Research

With the growing adoption of automation in laboratories the growing investment in genomics research is a key factor driving the global market. In October 2023, Oxford Nanopore received a strategic investment of 70 million pounds ($84.6 million) from in vitro diagnostics (IVD) company BioMérieux for genomic research. Further, in May 2023, the Wellcome Trust announced to double the size of its Genome Campus at Hinxton, Cambridgeshire, with an estimated $1.0 billion investment in new research space, homes, infrastructure, and amenities across 315 acres. Furthermore, in October 2023, the Canadian Institutes of Health Research invested $15 million in creation of a first-of-its-kind genome library to make genomic research more sustainable, secure, and equitable.

Rise in the number of pre-clinical studies 

The automated plate handler is designed for loading single instruments such as plate washers, bulk reagent dispensers, and plate readers hence, found significant application in the pre-clinical studies. The significant rise in the number of pre-clinical studies to obtain basic information about the safety and biological efficacy of a drug candidate before testing it in a final target population is one of the key factors driving the growth of the global market.

Market Segmentation

Our in-depth analysis of the global automated plate handlers market includes the following segments by type and end-user:

• Based on type, the market is sub-segmented into automated plate handler, automated barcode labeler, and automated plate stacker

• Based on end-user application, the market is segmented into bioanalysis, drug discovery, analytic chemistry, and clinical diagnostic

Drug Discovery to Exhibit Highest GAGR

Based on type, the global automated plate handlers market is sub-segmented into bioanalysis, drug discovery, analytic chemistry, and clinical diagnostic. Improved reproducibility, increased data quality, improved accuracy, reduced cost, increased capacity, and improved compound prioritization are the key benefits of using automated plate handlers in the drug discovery process. The growing demand for automated plate handlers during drug discovery owing to its offered benefits is a key factor driving the growth of this market segment. The rising burden of chronic disorders such as cardiovascular and CNS-related disorders, rising healthcare expenditure, and the upcoming patent expiration of major drugs have created demand for drug discovery. The increasing demand for drug discovery is anticipated to offer lucrative opportunities for the growth of automated plate handlers for this application. 

Regional Outlook

The global automated plate handlers market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). 

Increasing Investment in Biotechnology to Drive Global Market Growth

The growing investment in biotech research by public & private entities across the emerging economies of the region is a key factor driving the growth of the regional market. For instance, in February 2023, Accenture made a strategic investment, through Accenture Ventures, in Ocean Genomics, a technology and AI company that has developed advanced computational platforms to assist biopharma companies to discover and develop more effective diagnostics and therapeutics.

Global Automated Plate Handlers Market Growth by Region 2024-2031

North America Holds Major Market Share

Among all the regions, North America holds a significant share owing to the growing regional focus on clinical research. The US is home to several major biopharmaceutical companies such as Abbott Laboratories, Pfizer, Johnson & Johnson, and Novartis among others. The highest concentration of contract research organizations (CROs) across the region is further aiding its market growth. IQVIA, Syneos Health, and Parexel International Corp. are some prominent CROs in the region. Significant investment in genomic research by regional government is another major contributor to the regional market growth. The growing automation of labs across the region to deal with repetitive tasks of labs to attain high productivity is further aiding the regional market demand.

Market Players Outlook

*Note: Major Players Sorted in No Particular Order.

The major companies serving the global automated plate handlers market include Agilent Technologies Inc., Becton, Dickinson and Company, Perkin Elmer, Inc., and Tecan Group Ltd., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2023, PerkinElmer, Inc. launched the EnVision Nexus system, the fastest and most sensitive multimode plate reader designed for demanding high-throughput screening (HTS) applications and to accelerate drug discovery efforts. 

The Report Covers

• Market value data analysis of 2023and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global automated plate handlers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.