The microplate reader market size is estimated to be USD 487.9 million in 2022 and is expected to witness a CAGR of 7.87% during the forecast period 2023-2033. Expanding range of applications in drug development and rising genomics and proteomics are factors contributing to the market growth. Furthermore, integration of relevant analytical technologies with microplate systems and rising adoption of the instruments are other factors supporting the market growth. However, high price of advanced microplate reader is expected to hinder the growth.

Integration of relevant analytical technologies with microplate systems is expected to fuel the market growth during the forecast period. For instance, Biotek Instruments, Inc. (Agilent Technologies, Inc.) introduced its new Cytation 7 Cell Imaging Multi-Mode Reader in January 2020. This device combines microscopy with multi-mode detection capabilities. Such advancements can make microplate readers flexible and accelerate market expansion in the near future.

Rising adoption of the instruments is predicted to fuel the market growth during the projected period. Microplate readers also have a long lifespan and require little maintenance. Although lamps are the most fragile part of microplate readers, more advanced solutions including deuterium, halogens, Xenon flash lamps, and LEDs have been launched recently. As a result of these advancements, microplate readers last longer, which is projected to boost the use of these instruments.

Segmentation

By Product

The market is categorized into multi-mode readers and single-mode readers. In 2022, the single-mode readers segment accounted for the highest revenue share due to their extensive market penetration and well-established presence in a variety of academic and industrial research and development settings. Additionally, these devices cost less than multi-mode readers, and companies including Tecan Group Ltd. and Biotek Instruments, Inc. (Agilent Technologies, Inc.) provide modular single-mode reader designs that can be modified as needed. Single-mode readers are also available from a variety of vendors and are fairly easy to use. As a result, the industry is expected to be driven by the availability of a wide range of choices. The market for multi-mode readers is anticipated to grow at the highest CAGR during the projected period as manufacturers emphasize providing multi-modal instruments that are flexible and convenient than a number of specialized instruments. Additionally, multi-mode readers provide numerous adjustable modes for amplified luminescent proximity homogenous tests, fluorescence polarization, absorbance, and luminescence analysis in addition to fluorescence, absorbance, and luminescence analysis.

By Application

The market is categorized into clinical diagnostics, genomics & proteomics research, drug discovery, and others. In the global market, the drug discovery segment accounted for the largest revenue share in 2022 owing to numerous ways that microplate reading devices is used in drug discovery procedures. For instance, when conducting cell-based assays, these instruments are employed for the automated detection and analysis of a number of labelled and label-free components. Similar to this, microplate readers have high throughput capabilities by reading multiple wells at once, and the throughput can be further boosted with the use of robotic microplate stackers that are automatically controlled. These technological advancements make it easier to use advanced readers, which is encouraging the usage of these devices in drug discovery applications. The genomics and proteomics research segment is anticipated to grow at a sizable CAGR due to the availability of various signal reading techniques for specialised applications in genomics and proteomics. Protein quantification procedures including Bradford, Lowry, or fluorescent assays, for instance, are required for proteomics methodologies and are easy to carry out using microplate-based AlphaScreen, fluorescence polarization, or time-resolved fluorescence energy transfer methods.

By End User

The market is segmented into academic & research institutions, pharmaceutical & biotechnology companies & CROs, others. In 2022, the pharmaceutical & biotechnology companies & CROs segment accounted for the largest revenue share owing to strong commercial success of biopharmaceuticals and the rapid development in demand for CRO services. Drug screening activities for the development of innovative treatments have been accelerated by a considerable rise in investments in the pharmaceutical sector. The demand for these instruments is anticipated to increase during the projected period as microplate readers are a crucial component of target identification and validation workflows and drug screening workflows. The academic and research institutions market is anticipated to expand rapidly. The deployment of such equipment in academic and research institutions has been accelerated by the widespread availability of benchtop readers and technological breakthroughs in detection sensitivity and accuracy. The increased financing prospects for life sciences research and the growing involvement of academic institutions in the development of innovative biologics are also expected to boost the technique’s uptake in the upcoming years.

Regional Markets

In 2022, North America region accounted for the highest revenue in the microplate reader market and is expected to maintain its dominance during the forecast period. This is attributed to the region’s established biopharmaceutical and CRO industries, significant R&D spending. The market in the area is also anticipated to be driven by the local presence of major companies including Agilent Technologies, Inc., Danaher Corporation, and PerkinElmer, Inc. The COVID-19 pandemic and the region’s strong demand for ELISA-based tests have also contributed to increasing infectious disease testing and positive market growth in North America. The Asia Pacific region is expected to grow at the fastest CAGR due to the region’s expanding contract service market and expanding life sciences industry. Emerging economies including China and India, which are experiencing rapid economic growth and significant investments in R&D are extending the growth potential for biotechnology research, which is expected to accelerate market expansion.

Competitor Insights

Some of the key players operating in the microplate reader market are Danaher Corporation, PerkinElmer, Inc., Promega Corporation, BMG Labtech, Bio-Rad Laboratories, Lonza, Enzo Life Sciences, Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., and Berthold Technologies GmbH & Co. KG.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

• For instance, in April 2022, Danaher Corporation launched the new SpectraMax Mini Multi-Mode scanner, which features a benchtop design appropriate for academic laboratories.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including product, application, and end user from 2023 to 2033.

Report Scope:

Segmentation: Microplate Reader Market Report 2022 – 2033

Product (Revenue, USD Million), 2022 – 2033

• Multi-mode Readers
  • Hybrid Microplate Readers
  • Filter-based Microplate Readers
  • Monochromator-based Microplate Readers
• Single-mode Readers
  • Luminescence Microplate Readers
  • Absorbance Microplate Readers
  • Fluorescence Microplate Readers
  • Others

Application (Revenue, USD Million), 2022 – 2033

• Clinical Diagnostics
• Genomics & Proteomics Research
• Drug Discovery
• Others

End user (Revenue, USD Million), 2022 – 2033

• Academic & Research Institutions
• Pharmaceutical & Biotechnology Companies & CROs
• Others

By Region (Revenue, USD Million), 2022 – 2033

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of MEA