Multi-mode Microplate Readers Market Size & Share, by Product (Filter Based Multi-mode Microplate Readers, Monochromatic Multi-mode Microplate Readers); Distribution Channel (Direct Tenders, Retail Sales); Modality (Portable Multi-mode Microplate Readers, Bench-Top Multi-mode Microplate Readers); Application (Drug Discovery, Genomics & Proteomics Readers, Oncology, Molecular Biology, Cellular Biology) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5800
  • Published Date: Mar 04, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Multi-mode Microplate Readers Market size is expected to reach USD 1.25 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of multi-mode microplate readers was USD 500 Million. The most important drivers propelling this market's growth are the high occurrence of illnesses like influenza and the growing patient awareness. According to a study, this flu season has already resulted in at least 25 million illnesses, 280,000 hospital admissions, and 17,000 fatalities.

In addition, the market is seeing the rise of small and portable microplate readers, which increase their accessibility for use in point-of-care environments and small laboratories. The ease of use and affordability of these little devices contribute to their increasing popularity.


Multi-mode Microplate Readers Market
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Multi-mode Microplate Readers Sector: Growth Drivers and Challenges

Growth Drivers

  • Technological Progress Increasing the Market for Microplate Readers- Microplate readers have evolved as a result of technological breakthroughs, which have improved their features and broadened their range of applications. Modern technology integration has been essential in increasing the versatility and effectiveness of these instruments. Advancements in microplate readers nowadays include multi-mode detection capabilities that enable the measurement of absorbance, fluorescence, and luminescence all at once. In addition, higher sensitivity and signal-to-noise ratios are made possible by sophisticated detectors, better light sources, and precise optics, all of which present profitable prospects for multi-mode microplate readers market growth. The incorporation of software that is easy to use and has intuitive interfaces enables smooth operation and data analysis, meeting the changing requirements of researchers. Modular designs also guarantee compatibility with emerging technology and facilitate simple upgrades. In addition to increasing the efficiency and precision of microplate readers, these technical advancements have broadened their range of uses in a variety of industries, such as clinical diagnostics, drug development, and genomics.
  • Growing Number of Clinical Trials- The global increase in clinical trials is a significant driver of the market share of microplate readers. As microplate readers grow more and more common in industries like drug discovery and personalized medicine, they are crucial for expediting and optimizing various stages of clinical trials. The demand for accurate, high-throughput analysis in drug screening, biomarker discovery, and diagnostic assays has grown as more clinical trials are carried out. Microplate readers' versatility and efficiency in processing multiple samples at once have made them increasingly necessary for producing correct data during these trials. According to research, there are currently 484,381 clinical trials listed, spread across 223 nations and all 50 states. ClinicalTrials.gov had over 4.5 million monthly visits as of March 2021.
  • Prevalence of Chronic Disease- The market is growing as a result of the growing incidence of chronic illnesses and the demand for effective diagnostic instruments. In clinical diagnostics, multi-mode microplate readers are frequently utilized for tasks like protein assays, DNA quantification, and ELISA. Each year, 41 million people die from chronic illnesses such as diabetes, cancer, chronic respiratory conditions, and cardiovascular disorders. It's crucial to invest in and prevent chronic illnesses. It is essential to make investments in improved chronic illness management.

Challenges

  • Storage Sensitivity to Limit the Growth of the Global Market- Microplate readers are quite sensitive to storage conditions, even with their remarkable performance and ease of use. These priceless instruments may sustain irreversible harm if the suggested storage requirements are not followed. For example, it is best to utilize plates with clear bottoms and black walls for fluorescence measurements.
  • Growth in the market is predicted to be hampered by the rising cost of advanced and multi-mode microplate readers.
  • The market's overall expansion will be hampered by the enormous expenditures needed for research & development to introduce novel items to the multi-mode microplate readers market

Multi-mode Microplate Readers Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~ 8%

Base Year Market Size (2023)

 ~ USD 500 Million

Forecast Year Market Size (2036)

 ~ USD 1.25 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
 
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Multi-mode Microplate Readers Segmentation

Application (Drug Discovery, Genomics & Proteomics Readers, Oncology, Molecular Biology, Cellular Biology)

Based on application, drug discovery segment is expected to hold of 40% share of the global multi-mode microplate readers market during the forecast period 2024-2036 This is explained by the wide range of uses for microplate reading instruments in the drug-discovery process. These tools, for example, are employed in cell-based assays to automatically identify and analyze several labeled and label-free components. Similarly, by reading multiple wells at once, microplate readers have high throughput capabilities. With the use of automated robotic microplate stackers, throughput can be further improved. Advanced readers' use is becoming easier thanks to these technological advancements, which are also encouraging their use in drug discovery applications. Compared to the preceding ten years, the number of new pharmaceuticals licensed for sale climbed by 60% between 2010 and 2019, reaching a peak of 59 new drugs approved in 2018.

End Users (Life Science Research Laboratories, Academic Research Institutes, Pharmaceutical & Biotechnology Companies)

Based on end users, pharmaceutical & biotechnology companies are estimated to hold the largest market share of about 35% during the forecast period. The growth of the segment is because of the biopharmaceuticals' strong commercial success and the rapidly increasing need for CRO services. The pharmaceutical business has experienced a notable surge in funding, which has in turn stimulated drug screening efforts aimed at discovering new treatments. The need for microplate readers is anticipated to increase throughout the forecast period since they are a crucial component of workflows for target identification, validation, and drug screening.

Our in-depth analysis of the global market includes the following segments:

          Product

  • Filter Based Multi-mode Microplate Readers
  • Monochromatic Multi-mode Microplate Readers

          Distribution Channel

  • Direct Tenders
  • Retail Sales

          Modality

  • Portable Multi-mode Microplate Readers
  • Bench-Top Multi-mode Microplate Readers

          Application

  • Drug Discovery
  • Genomics & Proteomics Readers
  • Oncology
  • Molecular Biology
  • Cellular Biology

          End Users

  • Life Science Research Laboratories
  • Academic Research Institutes
  • Pharmaceutical & Biotechnology Companies

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Multi-mode Microplate Readers Industry - Regional Synopsis

North American Market Forecast

Multi-mode microplate readers market in the North American region is projected to hold the largest market share of about 30% during the forecast period. The growth of the market in this region is due to the region's technical advancements in life science research and development. In FY 2022, R&D Spending at US Universities Increased by USD 8 Billion. Academic institutions spent a total of USD 97.8 billion on research and development in FY 2022, an increase of USD 8.0 billion over FY 2021. Federally financed R&D expenses made up USD 4.9 billion of the overall increase. Furthermore, it is anticipated that the local presence of significant businesses like PerkinElmer, Inc., Danaher Corporation, and Agilent Technologies, Inc. will propel the market in the area. Additionally, the COVID-19 pandemic has led to a rise in the need for ELISA-based tests in the region and increased testing for infectious diseases, all of which have favorably impacted the growth of the North American market.

APAC Market Statistics

Multi-mode microplate readers market in the Asia Pacific region is attributed to holding the largest market share of about 27% during the forecast period. The market is rising significantly as a result of rising government support for laboratory and research operations, as well as an increase in research and development activities. Moreover, the growth is because of the region's increased interest from contract service providers and the expanding life sciences industry. Biotechnological research has more potential prospects due to the rapid economic development and large investments in R&D activities in rising economies like China and India. This is expected to drive market expansion.

Research Nester
Multi-mode Microplate Readers Market size
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Companies Dominating the Multi-mode Microplate Readers Landscape

top-features-companies
    • Danaher Corporation
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Thermo Fisher Scientific, Inc.
    • BMG Labtech
    • PerkinElmer, Inc.
    • Promega Corporation
    • Bio-Rad Laboratories
    • BioNTech SE
    • Agilent Technologies, Inc.
    • Enzo Life Sciences
    • Berthold Technologies GmbH & Co. KG

In-the-news

In The News

  • April 2022: Today saw the introduction of the SpectraMax® Mini Multi-mode Microplate Reader by Molecular Devices, LLC, a well-known supplier of high-performance life science solutions and a subsidiary of Danaher Corporation. This small and affordable device is intended to save researchers money and benchtop space. The SpectraMax Mini reader, which was developed based on the company's nearly 40 years of experience bringing high-performance microplate reader technology to the market, is sturdy enough to satisfy a lab's essential microplate reader needs and, thanks to its small size, is perfect for integration into a large workstation with numerous instruments.
  • April 2020: The BNT162 vaccination program of BioNTech SE has been approved for Phase I/II clinical trial by the Paul-Ehrlich Institute, the German regulatory body, to prevent COVID-19 infection. BNT162 is being cooperatively developed by BioNTech and Pfizer. It is expected that these activities will expand the market.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 5800
  • Published Date: Mar 04, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The most important drivers propelling this market's growth are the high occurrence of illnesses like influenza and the growing patient awareness the major factors driving the growth of the multi-mode microplate readers market.

The market size of multi-mode microplate readers is anticipated to attain a CAGR of 8% over the forecast period, i.e., 2024-2036.

The major players in the market are Thermo Fisher Scientific, Inc., BMG Labtech, PerkinElmer, Inc., Promega Corporation, Bio-Rad Laboratories, BioNTech SE, Agilent Technologies, Inc., Enzo Life Sciences, Berthold Technologies GmbH & Co. KG, and others.

The drug discovery segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Multi-mode Microplate Readers Market Report Scope
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