Microplate Readers Market Insights with Statistics and Growth Prediction (2023-2031) | Biotek Instruments, Inc., Hercuvan Lab Systems, Molecular Devices, LLC

The global microplate readers market size was US$ 544.1 million in 2021. The global microplate readers market is forecast to grow to US$ 731.2 million by 2030 by registering a compound annual growth rate (CAGR) of 5.9% during the forecast period from 2022 to 2030.

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A microplate reader is a widely adopted laboratory equipment required to measure chemical, biological or physical reactions and characteristics. Microplates are integrated with small wells where individual reactions occur, which transform the presence of analytes into light signals.

Factors Influencing the Market
The growing cases of infectious diseases will primarily drive the growth of the microplate readers market during the study period. Infectious diseases are growing in cases, which is significantly upsurging the demand for fast and effective treatments, vaccines, and other drugs. For instance, the World Health Organization (WHO) estimates that the cases of dengue fever were nearly 390 million in 2017. Apart from that, the recent COVID-19 pandemic was the pre-eminent example of the rising prevalence of infectious diseases. Thus, all of these factors will fuel the growth of the microplate readers market during the study period.
Rapidly rising R&D activities are expected to benefit the microplate readers market during the study period. Drug research and development have been rapidly accelerating due to the rising demand for novel products. For instance, BioTek Instruments unveiled its next-generation Epoch 2 Microplate Spectrophotometer with outstanding features that allow users to perform easy and accurate absorbance measurements. The product was launched in 2019. Thus, it will contribute to the growth of the microplate readers market during the study period.
On the contrary, sensitivity towards storage conditions may limit the growth of the microplate readers market during the study period.

COVID-19 Impact Analysis
The healthcare industry has been positively affected by the microplate readers market due to the COVID-19 pandemic. It is owing to the rise in the cases of infectious diseases. Moreover, R&D activities grew substantially to develop effective devices, which as a result, drove the demand for microplate readers. The market also witnessed ample growth opportunities due to increased automation and R&D investment. All of these factors depict the opportunities witnessed by the microplate readers market due to the COVID-19 pandemic.

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Regional Analysis
North America is expected to dominate the microplate readers market, owing to the rising government funding for medical research, technological advancement and rapidly growing FDA approvals. Further, the highly advanced healthcare infrastructure of the region will also drive the demand for advanced and rapid processing technologies, which will contribute to the growth of the microplate readers market. The market may also record significant growth opportunities due to the extensive expansion of research activities in life sciences, including genome and proteomic research.

Competitors in the Market
• Biotek Instruments, Inc.
• Hercuvan Lab Systems
• Molecular Devices, LLC
• Thermo Fisher Scientific
• BMG Labtech
• Promega Corporation
• PerkinelmerInc
• Bio-Rad Laboratories, Inc.
• Tecan Trading AG
• Lonza
• Other Prominent Players

Market Segmentation
The global microplate readers market segmentation focuses on Modality, Application, End-User, and Region.
By Modality
• Filter Microplate
• Monochromatic Microplate
• Portable Microplate
• Benchtop Microplate

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By Application
• Oncology
• Molecular Biology
• Biotechnology
• Cellular Biology
• Others
By End-User
• Pharmaceutical
• Hospitals
By Regional Outlook
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific

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● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

Table of Content

Chapter 1: Global Microplate Readers Industry Overview

Chapter 3: Market Dynamics

Chapter 4: Top Company Profiles

Chapter 5: Global Microplate Readers market Competition, by Players

Chapter 6: Global Market Size by Regions

Chapter 7: Global Market Segment by Application

Chapter 8: Global Microplate Readers Industry Segment by Type

Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers

Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders

Chapter 11: Key Marketing Strategy Analysis, by Market Vendors

Chapter 12: Market Effect Factors Analysis

Chapter 13: Global Microplate Readers market Size Forecast (2023-2031).

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This release was published on openPR.