The global microplate reader market was valued at USD 486.77 million in 2022 and it is predicted to surpass around USD 1,006.05 million by 2032 with a CAGR of 7.53% from 2023 to 2032.
Report Highlights
Growth in research and development activities and rising investments in the biotechnology sector are boosting the adoption of microplate reading technologies. In addition, the global rise in the prevalence of infectious diseases and frequent disease outbreaks in endemic areas are anticipated to increase the demand for microplate readers for clinical diagnostics.
Furthermore, microplate readers can offer high-throughput screening and enable an analysis of up to 3456 samples at a time. This leads to the minimization of the operational time and quantity of reagents required and allows for greater flexibility for data analysis and interpretation. As a result, applications of microplate readers in research activities are expected to rise, as evidenced by the launch of several research-oriented products in this domain. For instance, in February 2022, BMG LABTECH launched its VANTAstar reader for applications in life sciences research activities. In addition, an increasing preference for multi-mode readers is expected to fuel market growth in the near future as these readers offer flexibility, cost efficiency, and the convenience of using a multipurpose instrument instead of multiple dedicated instruments.
The COVID-19 pandemic has increased the demand for point-of-care and rapid testing methods for disease surveillance and management of outbreaks. Furthermore, there has been an increase in the focus on the development of cost-effective, portable, and easy-to-use analytical devices, such as microplate readers, for supporting diagnostic testing activities. For instance, in November 2020, Enzo Biochem launched a portable reader compatible with the company’s immunoassays and molecular diagnostic assays. As microwell plates are frequently used in enzyme-linked immunosorbent assays and molecular tests, such developments are expected to boost the demand for COVID-19-related applications of microplate readers.
Report Coverage | Details |
Market Size in 2022 | USD 486.77 million |
Revenue Forecast by 2032 | USD 1,006.05 million |
Growth rate from 2023 to 2032 | CAGR of 7.53% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Segmentation | Product, application, end-use, region |
Companies Covered | 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 |
Product Insights
Single-mode readers held the largest share of over 60.04% in 2022 due to their significant market penetration and established presence in various academic and industrial research and development settings. Moreover, these instruments are less expensive than multi-mode readers, and companies such as Biotek Instruments, Inc. (Agilent Technologies, Inc.), and Tecan Group Ltd. offer modular single-mode reader designs, which can be upgraded as required. In addition, single-mode readers are relatively easy to operate and are offered by a variety of manufacturers. As a result, the availability of a broad range of alternatives is anticipated to drive the segment.
The multi-mode readers segment is expected to expand at the fastest CAGR over the forecast period as manufacturers are focusing on offering greater flexibility and convenience of multi-modal instruments instead of several dedicated instruments. Moreover, along with fluorescence, absorbance, and luminescence analysis, multi-mode readers are offering various configurable modes for fluorescence resonance energy transfer, fluorescence polarization, amplified luminescent proximity homogeneous assays, and others. Such capabilities are likely to boost segment growth over the forecast period.
Application Insights
The drug discovery segment held the largest share of over 40.11% in 2022. This can be attributed to the broad range of applications of microplate reading devices in drug discovery processes. For instance, these instruments are used for automated detection and analysis of several labeled and label-free components while performing cell-based assays. Similarly, microplate readers offer high throughput capabilities by reading several wells simultaneously, and the throughput can be further increased with the help of automated robotic microplate stackers. Such technological capabilities are simplifying the use of advanced readers and are driving their adoption for drug discovery applications.
The genomics and proteomics research segment is expected to expand at a significant CAGR from 2023 to 2032 due to the availability of a variety of signal reading techniques for specific applications in genomics and proteomics. For instance, proteomics methods require the use of protein quantification methods such as Bradford, Lowry, or fluorescent assays, which can be easily performed using microplate-based AlphaScreen, fluorescence polarization, or time-resolved fluorescence energy transfer techniques. Moreover, the high demand for quantification of low concentrations of DNA for applications such as next-generation sequencing, SNP genotyping, and DNA methylation readout is likely to aid the revenue generation in this segment.
End-use Insights
Pharmaceutical and biotechnology companies and CROs dominated the market and accounted for a share of over 60.07% in 2022 due to the high commercial success of biopharmaceuticals and rapid growth in demand for CRO services. A significant increase in investments in the pharmaceutical industry has boosted drug screening activities for the discovery of novel therapeutics. Since microplate readers form an important aspect of drug screening and target identification and validation workflows, the demand for these instruments is expected to grow over the forecast period.
The academic and research institutions segment is expected to grow at a rapid pace from 2023 to 2032. The widespread availability of benchtop readers and technological advancements in sensitivity and accuracy of detection have accelerated the adoption of such instruments in academic and research institutions. Furthermore, the rising involvement of academic institutes in the development of novel biologics and the increase in funding opportunities for life sciences research are likely to raise the adoption of the technique in the coming years.
Regional Insights
North America held the largest share of over 40.13% in 2022 due to the presence of an established biopharmaceutical and CRO industry in the region and a high extent of R&D activities. Moreover, local presence of key companies such as Agilent Technologies, Inc.; Danaher Corporation; and PerkinElmer, Inc. is expected to drive the market in the region. Furthermore, increased infectious disease testing and high demand for ELISA-based tests in the region due to the COVID-19 pandemic have positively affected the market growth in North America.
The Asia Pacific region is projected to expand at the fastest CAGR from 2023 to 2032 due to the growing life sciences industry and rising interest of contract service providers in the region. Rapid economic development and high investments in research and development activities in emerging economies, such as China and India, are expanding the growth prospects for biotechnological research, which is anticipated to boost market growth.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Microplate Reader Market
5.1. COVID-19 Landscape: Microplate Reader Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Microplate Reader Market, By Product
8.1. Microplate Reader Market, by Product, 2023-2032
8.1.1 Single-mode Readers
8.1.1.1. Market Revenue and Forecast (2019-2032)
8.1.2. Multi-mode Readers
8.1.2.1. Market Revenue and Forecast (2019-2032)
Chapter 9. Global Microplate Reader Market, By Application
9.1. Microplate Reader Market, by Application, 2023-2032
9.1.1. Genomics & Proteomics Research
9.1.1.1. Market Revenue and Forecast (2019-2032)
9.1.2. Drug Discovery
9.1.2.1. Market Revenue and Forecast (2019-2032)
9.1.3. Clinical Diagnostics
9.1.3.1. Market Revenue and Forecast (2019-2032)
9.1.4. Others
9.1.4.1. Market Revenue and Forecast (2019-2032)
Chapter 10. Global Microplate Reader Market, By End-use
10.1. Microplate Reader Market, by End-use, 2023-2032
10.1.1. Pharmaceutical & Biotechnology Companies & CROs
10.1.1.1. Market Revenue and Forecast (2019-2032)
10.1.2. Academic & Research Institutions
10.1.2.1. Market Revenue and Forecast (2019-2032)
10.1.3. Others
10.1.3.1. Market Revenue and Forecast (2019-2032)
Chapter 11. Global Microplate Reader Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Product (2019-2032)
11.1.2. Market Revenue and Forecast, by Application (2019-2032)
11.1.3. Market Revenue and Forecast, by End-use (2019-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.1.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.1.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.1.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.1.5.3. Market Revenue and Forecast, by End-use (2019-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Product (2019-2032)
11.2.2. Market Revenue and Forecast, by Application (2019-2032)
11.2.3. Market Revenue and Forecast, by End-use (2019-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.2.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.2.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.2.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.2.5.3. Market Revenue and Forecast, by End-use (2019-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Product (2019-2032)
11.2.6.2. Market Revenue and Forecast, by Application (2019-2032)
11.2.6.3. Market Revenue and Forecast, by End-use (2019-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Product (2019-2032)
11.2.7.2. Market Revenue and Forecast, by Application (2019-2032)
11.2.7.3. Market Revenue and Forecast, by End-use (2019-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Product (2019-2032)
11.3.2. Market Revenue and Forecast, by Application (2019-2032)
11.3.3. Market Revenue and Forecast, by End-use (2019-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.3.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.3.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.3.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.3.5.3. Market Revenue and Forecast, by End-use (2019-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Product (2019-2032)
11.3.6.2. Market Revenue and Forecast, by Application (2019-2032)
11.3.6.3. Market Revenue and Forecast, by End-use (2019-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Product (2019-2032)
11.3.7.2. Market Revenue and Forecast, by Application (2019-2032)
11.3.7.3. Market Revenue and Forecast, by End-use (2019-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.4.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.4.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.4.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.4.5.3. Market Revenue and Forecast, by End-use (2019-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Product (2019-2032)
11.4.6.2. Market Revenue and Forecast, by Application (2019-2032)
11.4.6.3. Market Revenue and Forecast, by End-use (2019-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Product (2019-2032)
11.4.7.2. Market Revenue and Forecast, by Application (2019-2032)
11.4.7.3. Market Revenue and Forecast, by End-use (2019-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.5.3. Market Revenue and Forecast, by End-use (2019-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Product (2019-2032)
11.5.4.2. Market Revenue and Forecast, by Application (2019-2032)
11.5.4.3. Market Revenue and Forecast, by End-use (2019-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Product (2019-2032)
11.5.5.2. Market Revenue and Forecast, by Application (2019-2032)
11.5.5.3. Market Revenue and Forecast, by End-use (2019-2032)
Chapter 12. Company Profiles
12.1. Danaher Corporation
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Thermo Fisher Scientific, Inc.
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. BMG Labtech
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. PerkinElmer, Inc.
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Promega Corporation
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Bio-Rad Laboratories
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Bio-Rad Laboratories
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Agilent Technologies, Inc.
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Enzo Life Sciences
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. Berthold Technologies GmbH & Co. KG
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms