Microplate Reader Market Size, Share, Market Segmentation, and Pricing Analysis, 2028

Microplate Reader Market

Global Microplate Reader Market By Application (Nucleic Acid Quantification, Protein Colorimetric Assays, Enzyme Kinetics, Enzyme-Linked Immunosorbent Assays, and Others), By Mode-Type (Multi-Mode and Single-Mode), By End-User (Education, Computer & Electronics, Healthcare, Manufacturing, Pharmaceuticals, Energy & Utility, Biotechnology, and Others), By Enterprise Size (SMEs and Large Enterprise), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Category: Healthcare Report Format : PDF Pages: 250 Report Code: ZMR-1650 Published Date: Jul-2022 Status : Published

The global microplate reader market size was worth over USD 550 Million in 2021 and is predicted to grow to around USD 700 Million by 2028 with a compound annual growth rate (CAGR) of roughly 4% between 2022 and 2028. The report analyzes the global microplate reader market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the microplate reader market.

Industry Prospective:

The global microplate reader market size was worth over USD 550 Million in 2021 and is predicted to grow to around USD 700 Million by 2028 with a compound annual growth rate (CAGR) of roughly 4% between 2022 and 2028. The report analyzes the global microplate reader market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the microplate reader market.

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Global Microplate Reader Market: Overview

Microplate readers are also known as microplate photometers or simply plate readers, and are medical instruments used to detect chemical, biological, or physical activities of samples that are placed on microtiter plates. Fields like research, bioassay validation, drug discovery & development, quality control, and other manufacturing processes in academic organizations, biotechnological industry, or pharmaceutical industry utilize microplate readers extensively.

The microplate format that is most commonly used in diagnostic clinics or at research centers is 96-well which is an 8*12 matrix and has a reaction volume ranging from 100 to 200 µL per well. Microplates with higher densities are mostly used for the cost per sample and the number of samples processed in a day becomes important. Luminescence, fluorescence intensity, fluorescence polarization, time-resolved fluorescence, and absorbance are the most common form of detection modes.

Microplate readers allow for simultaneous performance and measurement of various experiments. Whatever the assay type, experiments conducted with the aid of plate readers follow a standard curve to derive the experimental results. Samples of known concentration are used to generate a line that best follows the path or fits the standard curve followed by experimental values being extrapolated to the curve or can be calculated with the help of a linear regression equation.

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Key Insights:

  • As per the analysis shared by our research analyst, the global microplate reader market is estimated to grow annually at a CAGR of around 4% over the forecast period (2022-2028).
  •  In terms of revenue, the global microplate reader market size was valued at around USD 550 million in 2021 and is projected to reach USD 700 million, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
  • Based on type segmentation, the multi-mode segment was predicted to show maximum market share in the year 2021.
  • Based on application segmentation, nucleic acid quantification was the leading revenue-generating category in 2021.
  • On the basis of region, North America was the leading revenue generator in 2021.

Covid-19 Impact

Since microplate readers have immense utilization in the research field, the global market was positively impacted by Covid-19. During 2020 and 2021, research on understanding the virus, its mutations, and increased resource investments for the development of vaccines was extremely intense throughout the globe, including in government centers and private research laboratories propelling the demand for microplate readers.

Microplate Reader Market: Growth Drivers

Benefits associated with the use of microplate readers to aid global market growth

The global microplate readers market stands to benefit from the research-oriented and future-forward benefits offered by microplate readers in comparison to the traditional spectrometer that works on solo small sample size but microplate readers offer a higher throughput like measuring a 96-well microplate within a few seconds or 1536 well plates in a matter of minutes. The global market expansion may also be pushed forward by the growing number of medical cases, coupled with already existing diseases that do not have any cure as of 2022 as well. Covid-19 added to the already existing immense pressure on the healthcare and the pharmaceutical sector to meet the growing demand for medical care which has resulted in intensified research activities assisted by growing funds from governments, international healthcare organizations, and private institutes. The pharmaceutical sector is focusing heavily on drug development processes creating more demand for microplate readers.

Infectious diseases are growing at an alarming rate. As per World Health Organization, around 390 million dengue infections are reported every year out of which 97 million are fatal. The rapidly increasing number of such infectious and contagious diseases is a threat to the world population and market players are working towards ways to control and eradicate these diseases which will help the global market expansion during the forecast period.

Microplate Reader Market: Restraints

Storage sensitivity to restrain the global market growth during the projection period

Even though microplate readers are easy to use and yield excellent results, their storage conditions are extremely sensitive and even minute changes can result in permanent damage to the plate readers. For example, for fluorescence, only plates with black walls and transparent bottoms are recommended since unspecific reflections may lead to sensitivity impairment. Owing to the strict rules for the use of microplate readers, the global market may not reach its true potential since there is no room for human error since the damage to the highly sensitive reader plates may end up increasing the overall cost of the establishment.

Another factor that may restrict the global market growth is the unlabeled technology associated with microplate readers since the data recovered cannot be tagged.

Microplate Reader Market: Opportunities

Growing advancements in research to provide lucrative growth opportunities during the forecast period

Owing to the increasing population and the subsequent rise in diseases, growing government support can be witnessed for research which is expected to provide multiple growth opportunities. Many governments have opened lucrative and attractive channels for foreign investments thus allowing for key players to expand their global footprint. Multiple large-scale manufacturers or research units are tying up with local producers to utilize the true potential of the global microplate reader market.

Microplate Reader Market: Challenges

High cost of microplate readers to pose a challenge for global market expansion

There is a significant rise in the price of multi-mode microplate readers. Even though they may be more beneficial than their counterparts, their high price makes them unaffordable for many research institutes because there is an added cost of maintenance and installation as well. Since the investments required to set up manufacturing units for new products are high, not many market players can be witnessed entering the global market which may challenge its growth.

Small-scale manufacturers do not have enough funds to operate in such a competitive environment making their survival difficult which may hinder the growth of the global market.

Microplate Reader Market: Segmentation

The global microplate reader market is segmented based on application, mode type, end-user, enterprise size, and region.

By application, the global market segments are nucleic acid quantification, protein colorimetric assays, enzyme kinetics, enzyme-linked immunosorbent assays, and others. Nucleic acid quantification can be used for ultrasensitive protein detection and has high growth potential during the forecast period.

By mode type, the global market segments are multi-mode and single-mode. The rising need to study various samples simultaneously is expected to propel the demand for multi-mode microplate readers, however, the high cost of these readers may impact the overall growth and is a point of consideration when tracking the growth graph.

By end-user, education, computer & electronics, healthcare, manufacturing, pharmaceuticals, energy & utility, biotechnology, and others are the global market segments. Biotechnology is expected to lead the segment because of growing investments and research in the segment.

By enterprise size, SMEs and large enterprises are the two segments. Large enterprises possess the necessary funds to assist the installation of manufacturing units and may lead the segment during the forecast period.

Recent Development:

  • In April 2021, the world leader in service science, Thermo Fisher Scientific Inc., announced the approval for the acquisition of PPD for $47.50 per share for a total cash purchase price of $17.4 billion. The company will assume around USD 3 billion debts of PPD. The deal managed to open up the clinical trial management segment worth USD 50 billion for Thermo Fisher.
  • In January 2019, the next-gen Epoch 2 Microplate Spectrometer was launched by BioTek Instruments. The rebooted version is a compact product combining up-to-the-minute technology with excellent performance for UV-Vis measurements and will allow better absorbance measurements against its original counterpart.

Global Microplate Reader Market Report Scope:

Report Attributes Report Details
Report Name Microplate Reader Market
Market Size in 2021 USD 550 Million
Market Forecast in 2028 USD 700 Million
Compound Annual Growth Rate CAGR of 4%
Number of Pages 250
Forecast Units Value (USD Million), and Volume (Units)
Key Companies Covered BMG Labtech, Molecular Devices, LLC., Promega Corporation, Thermo Fisher Scientific, Lonza, Bio-Rad Laboratories, Inc., Hercuvan Lab Systems, Tecan Trading AG, and PerkinelmerInc.
Segments Covered By Technology, By Test Type And By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latian America, Middle East and Africa (MEA)
Countries Covered North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
Base Year 2021
Historical Year 2016 to 2020
Forecast Year 2022 - 2028
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization


To know more about this report, request a sample copy.

Microplate Reader Market: Regional Analysis

North America to lead the global market expansion during the forecast period.

An increase in FDA approvals along with the rise in government funding for research activities is expected to aid North America to dominate the global microplate reader market growth. The biopharma sector in the region has been showing excellent signs of growth owing to the entry of many key players and a rise in strategic decisions like mergers & acquisitions and tie-ups to reach a larger group of consumers. Genome and proteomic research coupled with exhaustive research on drug development may also aid regional growth.

Europe is expected to generate high revenue owing to excellent government policies for the development of the healthcare infrastructure. Molecular device companies are witnessing steady growth in Europe which may aid regional expansion.

The Middle East and Africa may also register considerable growth because of the rising pharmaceutical sector along with an increasing number of biotech labs.

Microplate Reader Market: Competitive Analysis

The global microplate reader market is dominated by leaders like BMG Labtech, Molecular Devices, LLC., Promega Corporation, Thermo Fisher Scientific, Lonza, Bio-Rad Laboratories, Inc., Hercuvan Lab Systems, Tecan Trading AG, and PerkinelmerInc.

The global microplate reader market is segmented as follows:

By Application

  • Nucleic acid quantification
  • Protein colorimetric assays
  • Enzyme kinetics
  • Enzyme-linked immunosorbent assays
  • Other

By Mode-Type

  • Multi-Mode
  • Single-Mode

By End-User

  • Education
  • Computer & Electronics
  • Healthcare
  • Manufacturing
  • Pharmaceuticals
  • Energy & Utility
  • Biotechnology
  • Other

By Enterprise Size

  • SMEs
  • Large Enterprise

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The global microplate readers market stands to benefit from the research-oriented and future-forward benefits offered by microplate readers in comparison to the traditional spectrometer that works on solo small sample size by microplate readers offers a higher throughput like measuring a 96 well microplate within a few seconds or 1536 well plates in a matter of minutes.

According to Zion Market Research, the global microplate reader market was worth over USD 550 million in 2021 and is predicted to grow to around USD 700 million by 2028 with a compound annual growth rate (CAGR) of roughly 4% between 2022 and 2028.

An Increase in FDA approvals along with the rise in government funding for research activities is expected to aid North America to dominate the global microplate reader market growth

The global microplate reader market is dominated by leaders like BMG Labtech, Molecular Devices, LLC., Promega Corporation, Thermo Fisher Scientific, Lonza, Bio-Rad Laboratories, Inc., Hercuvan Lab Systems, Tecan Trading AG, and PerkinelmerInc.

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