Microplate Reader Market Size was valued at USD 0.5 Billion in 2022. The Microplate Reader market industry is projected to grow from USD 0.6 Billion in 2023 to USD 1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.00% during the forecast period (2024 - 2032). Growing healthcare problems and the growth of research laboratories are the key market drivers that are boosting the expansion of the market.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Market CAGR for Microplate Reader is being driven by the rising number of healthcare problems. Microplate readers are devices that measure emitted light and look into several segments in labs, research institutes, hospitals, and clinics. Microplate readers include automated ELISA systems, automated nucleic acid purification systems, multi-mode microplate readers, and single-mode microplate readers.
Additionally, the most important drivers propelling this market's growth are the high occurrence of illnesses like influenza and the growing patient awareness. The market is expected to rise because of its increasing application in contemporary medication discovery and development operations, as well as genomic and proteomic research. The growing emphasis on miniaturization by industry participants additionally restrains the market's expansion throughout the anticipated time frame. In addition, the growing number of research labs and the developing healthcare sector are predicted to drive market expansion. Growth in the market is predicted to be hampered by the rising cost of advanced and multi-mode microplate readers.
There will likely be significant prospects for the market due to the projected increase in the number of research and life science laboratories as well as the increased government support for research and laboratory activities. In the anticipated time frame, a rise in public awareness of the importance of biotechnology research will present a number of additional opportunities. Small firms need to reduce their operating costs in order to remain in the market. An important issue facing the microplate reader business is the survival of minor firms and new competitors. Microplate reader detectors and related detection techniques have advanced to accommodate high throughput screening and provide drug screening applications with a quicker turnaround time and excellent accuracy. For this reason, assay miniaturization is currently being used to process huge amounts of pharmacological molecules.
For instance, According to estimates GPCR-targeting medications make up 20% of all medications under study and over 30% of FDA-approved therapies, this field of R&D has achieved significant success and has enormous future promise. The company gives researchers a comprehensive solution to understand the function GPCRs play in disease and discover new and improved therapies by incorporating these novel assays into its already strong GPCR capabilities. Thus, result in driving the Microplate Reader market revenue.
The Microplate Reader market segmentation, based on Product, includes Single-mode Readers and Multi-mode Readers. The single-mode readers segment dominated the market. This is because of their substantial market penetration and well-established presence in a range of corporate and academic research and development environments. Furthermore, single-mode readers come from a number of vendors and are reasonably simple to use. The availability of a wide range of options is therefore predicted to propel the industry.
The Microplate Reader market segmentation, based on Application, includes Genomics & Proteomics Research, Drug Discovery, Clinical Diagnostics, and Others. The drug discovery generated the most income. This is because of their wide range of uses for micro plate reading instruments in the drug-discovery process. These tools, for example, are employed in cell-based assays to automatically identify and analyze a number of labeled and label-free components. Similarly, by reading multiple wells at once, micro plate readers have high throughput capabilities.
The Microplate Reader market segmentation, based on End-user, includes Pharmaceutical & Biotechnology Companies & CROs, Academic & Research Institutions and Others. The pharmaceutical & biotechnology companies & CROs generated the most income. This is because of the biopharmaceuticals' strong commercial success and the rapidly increasing need for CRO services. The pharmaceutical business has experienced a notable surge in funding, which has, in turn, stimulated drug screening efforts aimed at discovering new treatments. Given that target identification, validation, and drug screening operations heavily rely on microplate readers.
Figure 1: Microplate Reader Market, by End-user, 2023 & 2032 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American Microplate Reader market area will dominate this market. Owing to advancements in technology for life science research and development, the presence of important players in the area will boost market growth in this region.
Further, the major countries studied in the market report are the US, Germany, France, the UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil.
Figure 2: MICROPLATE READER MARKET SHARE BY REGION 2023 (USD Billion)
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Europe Microplate Reader market has the second-largest portion of the market due to a greater understanding of infectious illnesses and the value of early diagnosis and screening. Further, the German Microplate Reader market had the biggest market share, and the UK Microplate Reader market was the fastest growing market in the European region.
The Asia-Pacific Microplate Reader Market is anticipated to expand between 2024 and 2032 at the quickest CAGR. This is due to the expanding life sciences sector and the increased interest of contract service providers. Moreover, China’s Microplate Reader market had the biggest market share, and the Indian Microplate Reader market was the Asia-Pacific region's fastest-growing market.
Microplate Reader Key Market Players & Competitive Insights
Leading market players are putting a lot of money into R&D to expand their product lines, which will help the market for weight reduction products grow. Additionally, market players are engaging in a range of calculated initiatives to increase their worldwide presence, with important market developments involving the introduction of new products, contracts, M&A transactions, increased investment, and cooperation with other enterprises. To grow and endure in an increasingly cutthroat and dynamic market, the Microplate Reader industry must provide reasonably priced goods.
Manufacturing locally is one of the primary business techniques used by manufacturers to cut operational costs in the Microplate Reader industry to help customers and expand the market segment. In recent years, the Microplate Reader industry has provided some of the biggest benefits to medicine. Major players in the Microplate Reader market, including Promega Corporation, PerkinElmer, Inc., BMG Labtech, Danaher Corporation, and Thermo Fisher Scientific, Inc., are making investments in R&D activities in an effort to boost market demand.
An American provider of analytical tools, life sciences solutions, specialized diagnostics, laboratory supplies, pharmaceuticals, and biotechnology services is Thermo Fisher Scientific Inc. Thermo Fisher, a Waltham, Massachusetts-based company, was created in 2006 by the union of Thermo Electron and Fisher Scientific. Other reagent, consumable, instrumentation, and service companies, such as Life Technologies Corporation, have been bought by Thermo Fisher Scientific. In 2021, Thermo Fisher announced plans to build a center for cell therapy research, development, production, and collaboration on the Mission Bay campus of the University of California, San Francisco.
The international company Danaher Corporation works in a number of industries, including applied solutions, dental, environmental, diagnostics, and life sciences. Since its founding in 1969, Danaher has expanded dramatically as a result of strategic investments and acquisitions. The company's US headquarters are in Washington, D.C. Danaher has a reputation for operational excellence and for implementing the Danaher Business System (DBS), a collection of management tools and procedures designed to increase productivity and efficiency throughout the company's operations. In April 2022, the new SpectraMax Mini Multi-Mode reader, which has a tabletop design appropriate for academic laboratories, was introduced by Danaher Corporation.
Key Companies in the Microplate Reader market include
Microplate Reader Industry Developments
November 2020: Cisbio Bioassays upgraded their accreditation of BioTek's Synergy Neo2 Hybrid Multi-Mode microplate reader to include HTRF technology, a TR-FRET assay platform used in the life sciences. Recently, a TRF laser option was added to the reader.
April 2020: The BNT162 vaccination program of BioNTech SE has been approved for Phase I/II clinical trial by the Paul-Ehrlich Institute, the German regulatory body, in order to prevent COVID-19 infection. Pfizer and BioNTech are working together to develop BNT162.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 0.5 Billion |
| Market Size 2023 | USD 0.6 Billion |
| Market Size 2032 | USD 1 Billion |
| Compound Annual Growth Rate (CAGR) | 8.00% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, End-use, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and the Rest of the World |
| Countries Covered | The US, Germany, France, UK, Canada, Italy, Spain, India, Australia, South Korea, China, Japan, and Brazil |
| Key Companies Profiled | Â Promega Corporation, PerkinElmer, Inc., BMG Labtech, Danaher Corporation, Thermo Fisher Scientific, Inc. |
| Key Market Opportunities | Growing Healthcare Problems |
| Key Market Dynamics | The Growth of Research Laboratories |
Frequently Asked Questions (FAQ) :
The size of the worldwide market for Microplate Reader was estimated at USD 0.6 billion in 2023.
The market is projected to grow at a CAGR of 8.00% during the forecast period, 2024-2032.
In the market, North America accounted for the greatest share.
The leading companies in the industry include Promega Corporation, PerkinElmer, Inc., BMG Labtech, Danaher Corporation, and Thermo Fisher Scientific, Inc.
The single-mode readers category dominated the market in 2023.
The Pharmaceutical & Biotechnology Companies & CROs had the largest share in the market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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