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.
Growth Drivers
Challenges
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 |
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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 |
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By Technology |
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By Application |
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By End User |
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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.
Author Credits: Radhika Pawar
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