Austin, Dec. 06, 2024 (GLOBE NEWSWIRE) -- The S&S Insider report indicates that, “The Microplate Reader Market was valued at USD 486.89 million in 2023 and is projected to grow to USD 941.32 million by 2032, expanding at a CAGR of 7.6% from 2024 to 2032.” The growth of this market is driven by the increasing demand for precise and high-throughput analysis in drug discovery, genomics, and diagnostic applications, especially in the pharmaceutical, biotechnology, and research sectors.
Growth Fueled by Rising Demand for High-Throughput Screening and Personalized Medicine
The demand for advanced laboratory equipment is increasing, with microplate readers playing a crucial role in multiple research and diagnostic fields. Their ability to conduct multiple assays with precision and in a time-efficient manner makes them indispensable tools for high-throughput screening, drug discovery, and genomics research. As laboratories continue to integrate automation and expand their molecular research capabilities, the microplate reader market is expected to continue its rapid growth.
Market Overview
The microplate reader market serves as a critical component in the laboratory environment, providing efficient, reliable, and precise analysis of samples. These devices are designed to detect biological, chemical, and physical reactions in microplates, enabling high-throughput screening and other applications in drug discovery, diagnostics, and life sciences research. Demand for microplate readers is increasing as pharmaceutical companies, biotechnology firms, and academic research institutions focus on advancing drug development, personalized medicine, and genetic research.
The market is influenced by the growing need for precision medicine, increased investments in molecular biology, and the expansion of genomics and proteomics research. With the need for large-scale and accurate data analysis, especially in clinical and laboratory diagnostics, microplate readers are increasingly becoming integral tools for researchers. Moreover, technological advancements, such as the integration of automation, enhanced sensitivity, and the ability to perform multi-mode assays, are further boosting the adoption of microplate readers across various industries.
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Key Companies:
- Danaher Corporation
- Thermo Fisher Scientific, Inc.
- BMG Labtech
- PerkinElmer, Inc.
- Promega Corporation
- Bio-Rad Laboratories
- Lonza
- Agilent Technologies, Inc.
- Enzo Life Sciences
- Berthold Technologies GmbH & Co. KG
Microplate Reader Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 486.89 Million |
| Market Size by 2032 | USD 941.32 Million |
| CAGR | CAGR of 7.6% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product [Single-mode readers (Absorbance Microplate Readers, Fluorescence Microplate Readers, Luminescence Microplate Readers, Others), Multi-Mode Readers (Filter-based Microplate Readers, Monochromator-based Microplate Readers, Hybrid Microplate Readers)] • By Application (Genomics & Proteomics Research, Drug Discovery, Clinical Diagnostics, Others) • By End-use (Pharmaceutical & Biotechnology Companies & CROs, Academic & Research Institutions, Others) |
| Key Drivers | • Driving Forces Behind the Growth of the Microplate Reader Market Automation, Diagnostics, and Research Advancements |
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Segment Analysis
By Product
In 2023, multi-mode readers held the largest market share of approximately 65.0%. These readers are essential in laboratories that require versatile equipment capable of performing a variety of assays including fluorescence, absorbance, and luminescence on a single platform. Multi-mode readers offer flexibility and are valued for supporting complex workflows in pharmaceutical, biotechnology, and academic research settings. Their ability to handle high-throughput and multiplexed assays makes them indispensable in drug discovery and clinical diagnostics.
The multi-mode reader segment is also the fastest-growing product category, projected to expand rapidly over the forecast period. This growth is driven by their increasing application in high-throughput screening, precision medicine, and biomarker discovery. Their versatility allows seamless integration into different research workflows, enabling enhanced laboratory productivity. Additionally, multi-mode readers' ability to support personalized medicine is a key factor in their growing demand.
Drug Discovery Leads, Genomics & Proteomics Growing Rapidly by Application
In 2023, drug discovery accounted for the largest share, holding approximately 40.0% of the market. Microplate readers are critical in the pharmaceutical and biotechnology sectors for screening large compound libraries and evaluating drug efficacy and toxicity. The role of microplate readers in drug discovery is significant, providing fast and accurate data acquisition for optimizing therapeutic compounds.
The genomics and proteomics research segment is expected to grow the fastest. Driven by advancements in molecular biology and the growing emphasis on personalized medicine, this segment benefits from the ability of microplate readers to conduct complex assays with high throughput and accuracy. Their ability to assist in identifying biomarkers and therapeutic targets is crucial to advancing genomics and proteomics research.
Regional Analysis
In 2023, North America held the largest share of the microplate reader market, driven by the presence of major pharmaceutical, biotechnology, and research organizations. The region benefits from a highly advanced healthcare infrastructure, high levels of investment in research and development, and significant demand for precision medicine, all contributing to the dominance of North America in this market. The U.S. remains the largest market for microplate readers, owing to its robust pharmaceutical and biotechnology industries.
Europe followed closely, with steady growth attributed to the increasing adoption of advanced laboratory technologies in research and diagnostics. The region has witnessed a rise in investments in life sciences research, particularly in the U.K., Germany, and France.
The Asia Pacific region is projected to register the fastest growth throughout the forecast period. Countries like China, India, and Japan are expanding their pharmaceutical and biotechnology sectors, leading to an increased demand for microplate readers. Moreover, government investments in research and development, particularly in genomics and proteomics, are driving the market's growth in this region.
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Recent Developments
- BioTek Epoch 2 Microplate Spectrophotometer (Feb 2024) – This product features an enhanced user interface with a large touchscreen and integrated onboard data analysis software, simplifying absorbance-based detection workflows.
- SpectraMax iSeries Configurable Multi-Mode Microplate Reader (Sept 2023) – The launch of this system marked a significant advancement, offering absorbance, fluorescence, and luminescence detection with customizable features like fluorescence polarization and time-resolved fluorescence.
Table of Contents – Major Key Points
1. Introduction
- Market Definition
- Scope (Inclusion and Exclusions)
- Research Assumptions
2. Executive Summary
- Market Overview
- Regional Synopsis
- Competitive Summary
3. Research Methodology
- Top-Down Approach
- Bottom-up Approach
- Data Validation
- Primary Interviews
4. Market Dynamics Impact Analysis
- Market Driving Factors Analysis
- PESTLE Analysis
- Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Market Trends and Usage Trends (2023), by Region
- Device Volume, by Region (2020-2032)
- Healthcare Spending, by Region (Government, Commercial, Private, Out-of-Pocket), 2023
6. Competitive Landscape
- List of Major Companies, By Region
- Market Share Analysis, By Region
- Product Benchmarking
- Strategic Initiatives
- Technological Advancements
- Market Positioning and Branding
7. Microplate Reader Market Segmentation, by Product
8. Microplate Reader Market Segmentation, by Application
9. Microplate Reader Market Segmentation, by End-use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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