The microplate reader market size is projected to reach US$ 916.8 million by 2031 from US$ 605.2 million in 2023. The market is expected to register a CAGR of 5.3% during 2023–2031. The introduction of new technologies in microplate readers to enhance optics, accuracy, and reduction of research and development costs is likely to act as a future trend in the market.
Microplate Reader Market Analysis
The growing focus on drug discovery, personalized medicine, and biotechnology research is driving the adoption of microplate readers, particularly in laboratories for automated testing with high accuracy for a wide variety of assays. Microplate readers are more versatile and adaptable for a range of applications, from small-scale research settings to large-scale diagnostic facilities. The demand for portable, high-performance systems is growing in both laboratory and clinical environments, where efficiency and cost-effectiveness are crucial.
Microplate Reader Market Overview
The market growth in North America is characterized by an increase in the demand for advanced and quick processing technologies by biopharmaceutical and biotechnology companies, the presence of key market players, and extensive research and development conducted by various academic and research institutes. Europe occupies a significant position in the global microplate reader market. It is expected to register a robust growth rate owing to government and private funding for research in biologics and pharmaceuticals and the launch of innovative technologies. The market is driven by extensive research projects undertaken by several research institutes and the availability of infrastructure and facilities for research.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Microplate Reader Market: Strategic Insights
Market Size Value in US$ 605.2 Million in 2023 Market Size Value by US$ 916.8 Million by 2031 Growth rate CAGR of 5.3% from 2023 to 2031 Forecast Period 2024-2031 Historic Period 2021-2022
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Microplate Reader Market: Strategic Insights
| Market Size Value in | US$ 605.2 Million in 2023 |
| Market Size Value by | US$ 916.8 Million by 2031 |
| Growth rate | CAGR of 5.3% from 2023 to 2031 |
| Forecast Period | 2024-2031 |
| Historic Period | 2021-2022 |
Mrinal
Have a question?
Mrinal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Microplate Reader Market Drivers and Opportunities
Expanding Applications in Biopharmaceutical Research
A microplate reader is a laboratory instrument utilized to measure chemical, biological, or physical reactions within the wells of a microplate. It detects optical signals generated from these reactions, allowing for the quantification of specific analytes in the sample. Pharmaceutical and biotechnology research depends on variety of instrumentation. In high-throughput screening (HTS) and drug discovery, microplate-based assays assess large numbers of samples. A microplate reader detects signals and quantifies key parameters efficiently. These readers can handle up to 3,456 samples in minutes, minimizing operational time and reducing reagent costs. This efficiency allows researchers to focus more on data analysis and generating actionable insights, making microplate readers essential for various biological and chemical assays. Various market players, including Agilent Technologies, Inc.; Molecular Devices, LLC; and BMG LABTECH, offer innovative microplate readers for HTS and drug discovery research applications. BMG LABTECH's advanced detection technologies, such as TR-FRET and NanoBRET, can be used in high-throughput drug screening. In August 2023, Lonza launched the Nebula Absorbance Reader to improve endotoxin and pyrogen testing. The Nebula Absorbance Reader serves as a high-performance replacement, providing comparable results to the company's Nebula Multimode Reader. Designed to work seamlessly with Lonza reagents, the Nebula Absorbance Reader meets the specifications for Lonza's endotoxin assays, including the PYROGENT 5000 and Kinetic-QCL assays. It also supports readouts for monocyte activation tests, such as the PyroCell MAT System.
Growing Emphasis on Point-of-Care Testing
The rising adoption of point-of-care testing (POCT) is expected to create opportunities for portable microplate readers. These compact devices facilitate rapid diagnostics, enhancing patient care in hospitals and outpatient facilities. POCT involves conducting tests near the patient's bed, providing quick results for immediate clinical decisions. As healthcare systems focus on timely diagnosis and treatment, the demand for microplate readers and related technologies continues to grow. This inclination toward POCT emphasizes the need for efficient microplate readers to cater to rapid testing environments. The advancements in portable and user-friendly microplate readers are improving the practicality of POCT. Innovations, such as miniaturized devices, are facilitating the implementation of POCT across various settings, as they can perform multiple assays simultaneously. In November 2020, Enzo launched a portable microplate reader for use with the company's ELISA and other assay kits. The compact solid-state technology allows this instrument to be used in new settings. With this advancement, POCT can transition from centralized, complex clinical laboratories to locations closer to where patients receive care. Such innovations create new growth opportunities as healthcare providers seek efficient solutions for rapid diagnostics. Therefore, the increasing focus on POCT is expected to offer a significant market opportunity for microplate readers.
Microplate Reader Market Report Segmentation Analysis
Key segments that contributed to the derivation of the microplate reader market analysis are type, application, and end user.
- Based on type, the microplate reader market is segmented into single-mode microplate readers and multi-mode microplate readers. The single-mode microplate readers segment held a larger share of the market in 2023.
- By application, the microplate reader market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and others. The drug discovery segment held the largest share of the market in 2023.
- Based on end user, the market is segmented into biotechnology and pharmaceutical companies, hospital and diagnostic laboratories, and research and academic institutes. The biotechnology and pharmaceutical companies segment held the largest share of the market in 2023.
Microplate Reader Market Share Analysis by Geography
The geographic scope of the microplate reader market report is mainly divided into five regions: North America, Asia Pacific, Europe, South & Central America, and the Middle East & Africa. North America dominated the market in 2023. The microplate reader market in North America is segmented into the US, Canada, and Mexico. The US is the largest microplate reader market and is estimated to dominate the market in North America during the forecast period. The growth of the US microplate reader market is attributed to extensively increasing life science research activities such as genomic and proteomics research, drug discovery, and a rise in clinical diagnostics. In January 2020, Illumina, Inc. announced its strategic partnership with Roche to accelerate the adoption of genomic research and provide access to the same. The company also focuses on product and software introduction, which is expected to boost genomic research. This growth in genomic research is expected to have a positive impact on the adoption of microplate readers in the US. The increasing number of product launches due to the demand for advanced processing technologies is also estimated to offer a lucrative growth opportunity for the US microplate reader market during the forecast period. In November 2020, Enzo Biochem, a US-based diagnostic company, launched a compact and portable microplate reader for clinical diagnostics.
Microplate Reader Market Report Scope
Microplate Reader Market News and Recent Developments
The microplate reader market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the microplate reader market are listed below:
- Lonza introduced the Nebula Absorbance Reader, a new microplate reader designed for endotoxin and pyrogen testing. The Nebula Absorbance Reader served as a high-performance replacement, offering results comparable to the ELx808 and ensuring the smooth continuation of testing programs. (Source: Lonza; Company Website; August 2023)
- Molecular Devices, LLC launched the SpectraMax Mini Multi-Mode Microplate Reader. This compact and economical device was designed to save researchers both benchtop space and budget. Built on nearly four decades of expertise in delivering high-performance microplate reader technology, the SpectraMax Mini was robust enough to meet a lab's essential microplate reading needs. Its compact size made it ideal for integrating large workstation setups with multiple instruments. (Source: Molecular Devices, LLC, Company Website, April 2022)
Microplate Reader Market Report Coverage and Deliverables
The "Microplate Reader Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
- Microplate reader market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Microplate reader market trends, as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Microplate reader market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the microplate reader market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
North America dominated the market in 2023.
BioTek Instruments Inc, Hercuvan Lab Systems, Molecular Devices LLC, THERMO FISHER SCIENTIFIC INC, BMG LABTECH, Promega Corporation, PerkinElmer Inc., BIO RAD LABORATORIES INC, Tecan Trading AG, and Lonza are among the key players in the market.
The rise in partnerships and collaborations is expected to be a prime trend in the market in the coming years.
The rising practice of outsourcing clinical studies with a massive number of trials and surging research and development investments are among the most significant factors fueling the market growth.
The market is expected to register a CAGR of 5.3% during 2023–2031.
The microplate reader market is expected to reach US$ 916.8 million by 2031.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Microplate Reader Market
Nov 2024
Laser-Assisted ENT Surgeries Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Laser Type (C02 Laser, Nd:YAG Laser, Diode Laser, Blue Laser, KTP Laser, Argon Laser, and Other Laser Types), Surgery Type [Laser Laryngeal Surgery, Laser Endoscopic Sinus Surgery (LESS), Laser-Assisted Uvulopalatoplasty (LAUP), Laser-Assisted Stapedotomy, Laser-Assisted Tonsillectomy and Adenoidectomy, Laser Turbinates Reduction, Transoral Laser Microsurgery (TLM), Nasal Surgery, and Other Surgery Types], End User (Hospitals and Specialty Clinics, Physician Offices, and Other End Users), and Geography (North America, Europe, Asia Pacific, South and Central America, and Middle East and Africa)
Nov 2024
Mobile Cleanroom Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Softwall and Hardwall), End User (Microelectronics Industry, Pharmaceuticals and Biotechnology Industry, Medical Device Manufacturers, and Others), and Geography
Nov 2024
Ovo-Sexing Technology Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technique (Non-Invasive Imaging, Genetic Editing, Volatile Analysis, Sex Reversal, and Liquid-Based Analysis), End User (Hatcheries and Poultry Farms), and Geography (US, Germany, France, Italy, Spain, Rest of Europe, Israel, and ROW)
Nov 2024
Dental Laser Treatment Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Hard Tissue, Soft Tissue, and Others), End User (Hospitals, Dental Clinics, Dental-Owned Practices, and Others), Clinical Indication [Conservative Dentistry, Root Canal (Endodontic Treatment), Oral Surgery, Implantology, Peri-Implantitis, Periodontics, and Others], and Geography
Nov 2024
Microbiology CRO Services Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Application (Clinical, Medical Device, and Others), Service Type (Assay Development, Custom Viral Stock Production, Microbial Testing, and Others), Microorganisms (Bacteria, Fungi, Viruses, and Parasites), End User (Biotech and Pharmaceutical Companies, Medical Device Companies, and Others), and Geography
Nov 2024
Fall Management Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Sensor Pads, Floor Mat, Hip Protectors, Alert Systems, Communication Devices, and Other Products), Application (Fall Detection Systems, Fall Prevention Equipment, and Post-Fall Monitoring and Response Systems), Age Group [Elderly Population (65 and Above) and Adults (18–64 years)], End User (Hospitals and Clinics, Nursing Homes, Home Care Settings, and Other End Users), and Geography
Nov 2024
Microplate Reader Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Single-Mode Microplate Readers and Multi-Mode Microplate Readers), Application (Drug Discovery, Clinical Diagnostics, Genomics and Proteomics Research, and Others), End User (Biotechnology and Pharmaceutical Companies, Hospital and Diagnostic Laboratories, and Research and Academic Institutes), and Geography
Nov 2024
Specialty Hospitals Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Specialty Type (Pediatric Hospitals, Obstetrics-Gynecology Hospitals, ENT Hospitals, Oncology Hospitals, Rehabilitation Hospitals, Orthopedic Hospitals, Neurology Hospitals, Cardiology Hospitals, IVF Hospitals and Others), Service Type (Outpatient and Inpatient), Hospital Type (Public Hospitals and Private Hospitals), and Geography (North America, Europe, Asia Pacific, and Middle East & Africa)