At 5.9% CAGR, Asia Pacific Microplate Reader Market is Projected to be Worth US$ 214.50 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific microplate reader market was valued at US$ 136.08 million in 2023 and is expected to reach US$ 214.50 million by 2031, registering a CAGR of 5.9% from 2023 to 2031.Expanding applications in biopharmaceutical research and growing emphasis on point-of-care testing are among the critical factors attributed to drive the Asia Pacific microplate reader market growth.

A microplate reader is a laboratory instrument utilized to measure 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. Pharmaceutical and biotechnology research depends on variety of instrumentation. 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 Nebula Absorbance Reader serves as a high-performance replacement, providing comparable results as the company’s Nebula Multimode Reader. Designed to work seamlessly with Lonza reagents, the Nebula Absorbance Reader meets 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.

On the contrary, the high cost of advanced microplate readers hampers the growth of Asia Pacific microplate reader market.

Based on type, the Asia Pacific microplate reader market is bifurcated into single-mode microplate readers and multi-mode microplate readers. The single-mode microplate readers segment held 53.2% market share in 2023, amassing US$ 72.43 million. It is projected to garner US$ 109.97 million by 2031 to register 5.4% CAGR during 2023–2031. Furthermore, the single-mode microplate readers segment is subcategorized into absorbance plate readers, fluorescence plate readers and luminescence plate readers. Additionally, the multi-mode microplate readers segment is sub segmented into filter-based readers, monochromator-based readers and hybrid readers.

In terms of application, the Asia Pacific microplate reader market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and others. The drug discovery segment held 36.0% share of Asia Pacific microplate reader market in 2023, amassing US$ 48.96 million. It is anticipated to garner US$ 78.55 million by 2031 to expand at 6.1% CAGR during 2023–2031.

In terms of end user, the Asia Pacific microplate reader market is categorized into biotechnology and pharmaceutical companies, hospital and diagnostic laboratories, and research and academic institutes. The biotechnology and pharmaceutical companies segment held 47.7% share of Asia Pacific microplate reader market in 2023, amassing US$ 64.95 million. It is projected to garner US$ 106.68 million by 2031 to expand at 6.4% CAGR from 2023 to 2031.

Based on country, the Asia Pacific microplate reader market is categorized into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that Japan captured 34.6% share of Asia Pacific microplate reader market in 2023. It was assessed at US$ 47.11 million in 2023 and is likely to hit US$ 78.33 million by 2031, registering a CAGR of 6.6% during 2023–2031.

Key players operating in the microplate reader market are Hercuvan Lab Systems, Molecular Devices LLC, Thermo Fisher Scientific Inc, BMG LABTECH, Promega Corp, Revvity Inc, Bio-Rad Laboratories Inc, Tecan Trading AG, Lonza Group AG, and Agilent Technologies Inc, among others.

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