Microplate Reader Market to Reach USD 916.8 Million by 2031, Fueled by Rising Investments in Drug Discovery and Biopharmaceutical Research
The microplate reader market is projected to grow from USD 605.2 million in 2023 to USD 916.8 million by 2031, driven by increasing investments in drug discovery and biopharmaceutical research. Innovations in high-throughput screening and advancements in genomics and personalized medicine are key factors fueling this growth
US & Canada, Feb. 03, 2025 (GLOBE NEWSWIRE) — According to a comprehensive report from The Insight Partners, “Microplate Reader Market Size and Forecast (2023 – 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Single-Mode Microplate Readers and Multi-Mode Microplate Readers), Application (Drug Discovery, Clinical Diagnostics, Genomics and Proteomics Research, and Others), End User (Biotechnology and Pharmaceutical Companies, Hospital and Diagnostic Laboratories, and Research and Academic Institutes), and Geography“. the microplate reader market is witnessing significant growth owing to surging research and development investments in the pharmaceutical industry and expanding applications in biopharmaceutical research.
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The microplate reader market analysis focuses on various products expected to play a vital role in market growth in the coming years. The report runs an in-depth analysis of market trends, key players, and future opportunities.
Microplate Reader Market Overview of Report Findings
1. Market growth: The microplate reader market value is expected to reach US$ 916.80 million by 2031 from US$ 605.20 million in 2023; the market is anticipated to register a CAGR of 5.3 % from 2023 to 2031. Drug discovery methods require a high-throughput screening. The increasing prevalence of chronic diseases, advances in biotechnology, and increasing research and development investments propel the microplate reader adoption in laboratories. Hence, growing demand paved a way for the expansion of the microplate reader market.
2. Surging Research and Development Investments in the Pharmaceutical Industry: Pharmaceutical research and development is gaining attraction worldwide owing to the rising focus on drug discovery, gene sequencing, and the development of targeted proteins. The US biopharmaceutical industry is at the forefront of developing new therapeutics. The Pharmaceutical Research and Manufacturers of America (PhRMA) spent ~US$ 96 billion on research and development in 2023.
The development of personalized medicine also leads to the increasing demand for genetic studies. Precision medicine utilizes an individual’s genomic information to offer targeted treatment for a particular indication. The increasing prevalence of chronic diseases has increased the demand for biologics, drugs for orphan diseases, and personalized medicines. In February 2020, the National Human Genome Research Institute (NHGRI) announced the establishment of a new precision medicine and genomics program for the innovation of genomics and informatics tools to effectively diagnose and treat diseases. Advances in genomics and proteomics are key trends driving the growth of the microplate reader market. Therefore, increased funding for drug discovery and development activities in the biotechnology and pharmaceutical sectors drives the demand for microplate readers. Companies such as Pfizer and Novartis are also investing in research and development activities for new drugs. These companies rely on the high-throughput screening capabilities provided by modern microplate readers to accelerate their research processes.
3. Expanding Applications in Biopharmaceutical Research: A microplate reader is a laboratory instrument that measures chemical, biological, or physical reactions within the wells of a microplate. It detects optical signals generated from these reactions, allowing for the quantification of specific analytes in the sample. In high-throughput screening (HTS) and drug discovery, microplate-based assays assess large numbers of samples. A microplate reader detects signals and quantifies key parameters efficiently. These readers can handle up to 3,456 samples in minutes, minimizing operational time and reducing reagent costs. This efficiency allows researchers to focus more on data analysis and generating actionable insights, making microplate readers essential for various biological and chemical assays. Various market players, including Agilent Technologies, Inc.; Molecular Devices, LLC; and BMG LABTECH, offer innovative microplate readers for HTS and drug discovery research applications. BMG LABTECH’s advanced detection technologies, such as NanoBRET and TR-FRET, can be used in high-throughput drug screening. In August 2023, Lonza launched the Nebula Absorbance Reader to improve endotoxin and pyrogen testing. The reader serves as a high-performance replacement for the company’s Nebula Multimode Reader. Designed to work seamlessly with Lonza reagents, the Nebula Absorbance Reader meets the specifications for Lonza’s endotoxin assays, including the PYROGENT 5000 and Kinetic-QCL assays. It also supports readouts for monocyte activation tests, such as the PyroCell MAT System.
4. Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Further, Asia Pacific is expected to register the highest CAGR during the forecast period.
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Competitive Strategy and Development
- Key players: Major companies operating in the microplate reader market include BioTek Instruments Inc, Hercuvan Lab Systems, Molecular Devices LLC, THERMO FISHER SCIENTIFIC INC, BMG LABTECH, Promega Corporation, PerkinElmer Inc. BIO RAD LABORATORIES INC, Tecan Trading AG, and Lonza.
- Trending topics: Advancements in Multiplexing and High-Throughput Screening, Integration with Automation and Robotics, Miniaturization and Compact microplate readers, Fluorescence and Luminescence Detection Innovations, Real-Time Monitoring and Data Analytics, and Point-of-Care Applications
Headlines on Microplate Reader
- Molecular Devices Launches New Multi-Mode Microplate Reader for Academia and Biotech Laboratories
- Lonza Launches Nebula Absorbance Reader for Streamlined Endotoxin and Pyrogen Testing
- Agilent Announces Gen6 Software for BioTek Line of Microplate Readers
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Market Segmentation
- Based on type, the microplate reader market is segmented into single-mode microplate readers and multi-mode microplate readers. A single-mode microplate reader is further segmented into absorbance plate readers, fluorescence plate readers, and luminescence plate readers. Moreover, multi-mode microplate readers are subsegmented into monochromator-based readers, filter-based readers, and hybrid readers. The single-mode microplate reader segment held a larger market share in 2023.
- By application, the microplate reader market is segmented into genomics and proteomics research, drug discovery, clinical diagnostics, and others. The drug discovery segment dominated the market with the largest share in 2023.
- In terms of end user, the microplate reader market is categorized into hospital and diagnostic laboratories, biotechnology and pharmaceutical companies, and research and academic institutes. In 2023, the biotechnology and pharmaceutical companies segment dominated the market.
- The microplate reader market is segmented into five major regions: North America, Europe, APAC, Middle East & Africa, and South & Central America.
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Conclusion
The demand for microplate readers is growing because of their critical role in life sciences, drug discovery, and diagnostics. These instruments enable high-throughput screening, making them essential in fields such as genomics, cancer research, and immunology. The adoption of microplate readers is propelled by the increasing demand for personalized medicine, technological advancements in sensitivity, and multiplexing capabilities. Additionally, factors such as the rising prevalence of chronic diseases, increasing research activities, and the growth of pharmaceutical and diagnostic laboratories contribute to the market growth. Innovation in miniaturization and the move toward automation have also made microplate readers a ubiquitous tool in research and clinical applications.
Therefore, the report from The Insight Partners provides several stakeholders—including microplate reader manufacturers, microplate reader distributors, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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