Microplate Reader Market Size, Share, Growth Analysis, By Product(Single-mode Readers, Absorbance Microplate Readers, Fluorescence Microplate Readers, Luminescence Microplate Readers), By Application(Genomics & Proteomics Research, Drug Discovery, Clinical Diagnostics, Others), By End-use(Pharmaceutical & Biotechnology Companies & CROs, Academic & Research Institutions, Others), By Region - Industry Forecast 2024-2031

Q: What is the global market size of Microplate Reader Market?

Global Microplate Reader Market size was valued at USD 601.24 million in 2022 and is poised to grow from USD 625.29 million in 2023 to USD 855.75 million by 2031, growing at a CAGR of 4.00% in the forecast period (2024-2031).

Q: Who are the key vendors in the Global Microplate Reader Market?

The competitive environment of the Global Microplate Reader Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. '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', 'Biotek Instruments, Inc.', 'Hercuvan Lab Systems', 'Molecular Devices, LLC', 'Tecan Trading AG'

Report ID: SQMIG35H2188 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 97 | Figures: 70

Microplate Reader Market Dynamics

Drivers

Benefits Associated with the Use of Microplate Readers

The global microplate readers market is poised to gain substantial advantages from the forward-looking and research-centric capabilities inherent to these devices, particularly in contrast to traditional spectrometers. While traditional spectrometers typically cater to small sample sizes, microplate readers offer a distinct advantage in terms of higher throughput.

Restraints

Storage Sensitivity to Restrain the Global Market Growth

Despite the user-friendly nature and the exceptional results they provide, microplate readers are highly sensitive to their storage conditions. Even slight deviations from the recommended storage parameters can result in permanent damage to these valuable instruments. For instance, when it comes to fluorescence measurements, it is advisable to use plates with black walls and transparent bottoms.

Microplate Reader Market Report Snapshots

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FAQs

Microplate Reader Market size was valued at USD 601.24 million in 2022 and is poised to grow from USD 625.29 million in 2023 to USD 855.75 million by 2031, growing at a CAGR of 4.00% in the forecast period (2024-2031).

The competitive environment of the Microplate Reader Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. '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', 'Biotek Instruments, Inc.', 'Hercuvan Lab Systems', 'Molecular Devices, LLC', 'Tecan Trading AG'

The microplate readers market is poised to gain substantial advantages from the forward-looking and research-centric capabilities inherent to these devices, particularly in contrast to traditional spectrometers. While traditional spectrometers typically cater to small sample sizes, microplate readers offer a distinct advantage in terms of higher throughput.

The widespread adoption of microplate readers is being driven by the expanding biotechnology sector and the growing array of applications in areas such as drug discovery, genomics, and proteomics research. Additionally, microplate readers offer several advantages over traditional spectrophotometric devices, including enhanced speed and efficiency in analytical workflows. Their versatility, offering a wide range of reading functions, further contributes to their appeal.

In 2022, North America emerged as the dominant market player, commanding a substantial share of over 40.0%. This market leadership can be attributed to the region's well-established biopharmaceutical and Contract Research Organization (CRO) industry, which has been a hub of extensive research and development (R&D) activities.

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Microplate Reader Market Dynamics

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