Microplate Reader Market Size & Share, by Product Type (Single-Mode and Multi-Mode Microplate Reader); Technology (Nanotechnology, Biologic Targeting, Microfluidics, Supramolecular Chemistry, Protein Engineering); Application (Oncology, Biotechnology, Enzyme Kinetics, Neurology) and By End User (Diagnostic Laboratories, Biotechnology Companies, Pathology Labs, Life Sciences & Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 832
  • Published Date: Oct 07, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Microplate Reader Market size was valued at USD 483.27 million in 2023 and is expected to reach USD 1.28 billion by 2036, expanding at around 7.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of microplate reader is evaluated at USD 513.43 million.

Microplate Reader are used in gene expression, testing of biochemical reactions and quantification of proteins. Technically, these readers, which takes few minutes or even seconds to analyze information, can handle multiple samples at a time, allowing researchers to analyze more amount of data in a single shot. With the rising competition among biotechnology companies to develop products using genomic technology, the demand for microplate reader is anticipated to increase over the coming years.


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Microplate Reader Sector: Growth Drivers and Challenges

Growth Drivers

  • Increasing Frequency of Diseases and High Throughput Screening Rates to Propel the Market Growth: Microplate reader helps in diagnosis of diseases such as influenza by measuring chemical, biological or physical reactions, and properties within the well of a microplate. The diagnosis process requires collection of appropriate respiratory samples and thereafter the application of a laboratory diagnostic test. In biotechnology, high throughput screening (HTS) is a procedure which is used for the discovery of a drug. The process allows a researcher to quickly conduct millions of chemical, genetic, or pharmacological tests. This process helps to quickly identify active compounds, or genes which modulate a particular bio-molecular pathway. For conducting HTS, a microplate which has numerous testing vessels is used. Backed by the increasing frequency of diseases, there is a rising need for the diagnosis of these diseases, which in turn is anticipated to create growth opportunities for the microplate reader market over the coming years.
  • Increasing Research and Development Activities to Drive the Market Growth: According to the statistics by the World Bank, research and development expenditure (% of GDP) around the world grew from 1.995% in the year 2013 to 2.274% in the year 2018.

    The research and development sector experiences continuous growth in various industries including the pharmaceutical industry, backed by the support of the rising expenditure of both public and private entities. The technological advancements in medical equipment such as microplate reader offer flexibility and ease of use over a broad range of applications. microplate reader facilitate research by reducing operational time, improving processes and efficiency, and saving costs. Moreover, for quick assessment of enzyme activity or protein and nucleic acid quantification, microplate reader is a reliable choice for any laboratory. Such factors are anticipated to drive the growth of the global microplate reader market.

Challenges

  • High Cost of Microplate Reader: Microplate reader play a vital role in the success of an experiment in a laboratory, enabling targets to be quickly identified in a reproducible manner. The price of a microplate reader depends on the type of technical equipment and the number of detection modes that the device can measure. Benefits associated with microplate reader such as ease of use, optimization functions, integrated software and built-ins comes with a high price. Therefore, the high cost of microplate reader is anticipated to hamper the growth of the microplate reader market over the coming years.
  • Lack of Awareness Among the Working Professionals Regarding Microplate Reader: Many low- and middle-income countries lack access to advanced technologies owing to the lack of awareness among the working professionals and allocation of small budget for research and development activities. Owing to this lack of awareness, microplate reader are not accessible to some low- and middle-income countries. This acts as a challenging factor for the growth of microplate reader market over the coming years.

Microplate Reader Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

7.8%

Base Year Market Size (2023)

USD 483.27 million

Forecast Year Market Size (2036)

USD 1.28 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, South Korea, Malaysia, Australia, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Microplate Reader Segmentation

The microplate reader market is segmented by end user into diagnostic laboratories, biotechnology companies, pathology labs, life sciences & research institutes and others. Among these segments, the life sciences & research institutes segment is anticipated to grow at a significant rate over the forecast period on account of rising rate of diseases such as influenza and the inclination of the researchers towards microplate reader to produce more reliable and flexible outputs. 

Our in-depth analysis of the global microplate reader market includes the following segments

By Product Type

  • Single-Mode Microplate Reader
  • Multi-Mode Microplate Reader

By Technology

  • Nanotechnology
  • Biologic Targeting
  • Microfluidics
  • Supramolecular Chemistry
  • Protein Engineering
  • Others

By Application

  • Oncology
  • Biotechnology
  • Enzyme Kinetics
  • Neurology
  • Others

By End User

  • Diagnostic Laboratories
  • Biotechnology Companies
  • Pathology Labs
  • Life Sciences & Research Institutes
  • Others

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Microplate Reader Industry - Regional Synopsis

On the basis of regional analysis, the microplate reader market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

North America industry is poised to hold largest revenue share by 2036, led by availability of advanced treatment methods, and rapidly improving healthcare infrastructure. According to the statistics by the Centers for Medicare & Medicaid Services (CMS), in 2019, the national health expenditure growth of the United States was 4.8% on an average and is estimated to touch about USD 6 trillion by 2027. On the other hand, the microplate reader market in Asia-Pacific is anticipated to hold significant market share on account of increasing demand for laboratories, backed by increasing population and rising awareness among individuals regarding their health.

Research Nester
Microplate Reader Market Share
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Companies Dominating the Microplate Reader Landscape

    • BMG LABTECH GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • PerkinElmer Inc.
    • Tecan Trading AG
    • Thermo Fisher Scientific Inc.
    • Promega Corporation
    • Agilent Technologies, Inc.
    • Bruker
    • Bio-Rad Laboratories, Inc.
    • Berthold Technologies GmbH & Co. KG      
    • BioTek Instruments, Inc.

Author Credits:  Radhika Pawar


  • Report ID: 832
  • Published Date: Oct 07, 2024
  • Report Format: PDF, PPT
Microplate Reader Market Report Scope
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