Microplate Reader Market Size and Forecast (2021 - 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

Microplate Reader Market Size and Forecast (2021 - 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 size is expected to grow from US$ 605.2 million by 2031 from US$ 916.8 million in 2023. The market is expected to register a CAGR of 5.3% during 2023-2031.
A microplate reader, also known as a plate reader or multimode reader, is an analytical laboratory instrument used to measure the optical properties of samples in microplates. These plates typically have 6, 12, 24, 48, 96, or 384 wells, and the reader is designed to detect various types of signals generated by biological or chemical reactions within those wells. Microplate readers are indispensable tools in modern laboratory settings, offering a fast, reliable, and cost-effective way to analyze multiple samples simultaneously. Their versatility in measuring a range of signals (absorbance, fluorescence, luminescence) makes them valuable in a wide array of applications, from drug discovery to clinical diagnostics. With continued advancements in technology, microplate readers are becoming even more powerful, offering improved sensitivity, automation capabilities, and integration with other lab systems to support the growing demands of research and diagnostics.

Surging High-Throughput Screening (HTS) in Drug Discovery and Research Propels Microplate Reader

High-throughput screening indicates the capacity to process a huge number of biological samples within a short period for activity assessment such as the search for new drug actions. The global pharmaceutical and biotechnology industries have been actively involved in drug development and therefore the need for high throughput screening methods that are quick, simple and affordable has become very high. Microplate readers, and in particular multimode ones, play a key role in this aspect because they enable the measurement of many signals (absorbance, fluorescence, luminescence etc.) from many samples (often hundreds or thousand) within a very short time and with minimal intervention. This is very important in order to fast track the advent of new drugs, treatments, and diagnostics, especially concerning cancer, infectious diseases or even anyone’s genome. Building upon these patents, the concept of personalized medicine is elevating the demand for HTS techniques, that is, treatment will vary by an individual’s genetics. In contrast, the upsurge in pharmacological development activity aimed at, more specifically, personalized medicine is one of the factors driving the expansion of the microplate reader market.

End User-Based Insights

The use of microplate readers, implemented by biotechnological and pharmaceutical companies is one of the major factors propelling the growth of the market. Biotechnology and pharmaceutical companies depend upon high throughput screening of drug candidates. However, in drug discovery, time is precious and microplate readers make it possible for the researchers to screen through hundreds or even thousands of samples concurrently, hence reducing the time and resources needed in the screening process. With the shifting trend witnessed in the pharmaceutical sector in favor of personalized or precision medicine, while increasing demand for assays with more accuracy and reliability in order to customize treatments for different patients. Microplate readers are vital equipment for the success of the personalized medicine strategy in terms of performing. These industries make use of microplate readers in high-throughput screening, drug development, personalized medicines, vaccine research and many more. As these industries keep on growing and embracing advanced techniques, the demand for microplate readers is anticipated to rise making it one of the indispensable equipment’s in contemporary biomedical and pharmaceutical research.
The European Center for Disease Prevention and Control, Association of the British Pharmaceutical Industry, Food and Drug Administration, and Association of the British Pharmaceutical Industry are among the primary and secondary sources referred to while preparing the microplate reader market report.

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