No. of Pages: 137 | Report Code: TIPRE00022192 | Category: Life Sciences
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; it is estimated to register a CAGR of 5.9% from 2023 to 2031.
The rising adoption of point-of-care testing (POCT) is expected to create opportunities for portable microplate readers. These compact devices facilitate rapid diagnostics, enhancing patient care in hospitals and outpatient facilities. POCT involves conducting tests near the patient’s bed, providing quick results for immediate clinical decisions. As healthcare systems focus on timely diagnosis and treatment, demand for microplate readers and related technologies continues to grow. This inclination toward POCT emphasizes the need for efficient microplate readers to cater to rapid testing environments. The advancements in portable and user-friendly microplate readers are improving the practicality of POCT. Innovations, such as miniaturized devices, are facilitating the implementation of POCT across various settings, as they can perform multiple assays simultaneously. In November 2020, Enzo Launched a portable microplate reader for use with the company's ELISA and other assay kits. The compact solid-state technology allows this instrument to be used in new settings. With this advancement, POCT can transition from centralized, complex clinical laboratories to locations closer to where patients receive care. Such innovations create new growth opportunities as healthcare providers seek efficient solutions for rapid diagnostics. Therefore, the increasing focus on POCT is expected to offer a significant market opportunity for microplate readers.
The Asia Pacific microplate reader market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market in Asia Pacific is expected to register the highest CAGR during the forecast period. China, India, and Japan are three major contributors to the market's growth, driven by increasing demand for microplate readers and growing emphasis on laboratory automation.
In Japan, the rising prevalence of chronic conditions, coupled with massive spending on research and development and increasing collaboration for research projects, is boosting the demand for laboratory automation technologies. For instance, in October 2021, Nightingale Health Japan KK, a Japanese subsidiary of Nightingale Health Plc, announced a long-term collaboration with BioBank Japan to work on research projects to identify unique aspects of disease risks in the Japanese population and launch personalized medicine in the country. The parties began working together in November 2020 with a pilot phase. The company focuses on the development and commercialization of cell-free synthesis and amplification technologies for large DNA molecules. Further, the market players in the country are also emphasizing on sales and distribution channels, which are expected to offer a favorable environment for the Japan microplate reader market during the forecast period. Further, in June 2020, ITOCHU Corporation introduced an advanced pharmaceutical services platform, which comprises whole genome analysis. The launch of such projects and products is likely to drive the demand for microplate readers in Japan.
The Asia Pacific microplate reader market is categorized into type, application, end user, and country.
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 a larger Asia Pacific microplate reader market share in 2023. 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 the largest Asia Pacific microplate reader market share in 2023.
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 the largest Asia Pacific microplate reader market share in 2023.
By country, the Asia Pacific microplate reader market is segmented into Japan, China, India, South Korea, Australia, and the Rest of Asia Pacific. Japan dominated the Asia Pacific microplate reader market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 136.08 Million |
| Market Size by 2031 | US$ 214.50 Million |
| Global CAGR (2023 - 2031) | 5.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia Pacific
|
| Market leaders and key company profiles |
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. are some of the leading companies operating in the microplate reader market.
The Asia Pacific Microplate Reader Market is valued at US$ 136.08 Million in 2023, it is projected to reach US$ 214.50 Million by 2031.
As per our report Asia Pacific Microplate Reader Market, the market size is valued at US$ 136.08 Million in 2023, projecting it to reach US$ 214.50 Million by 2031. This translates to a CAGR of approximately 5.9% during the forecast period.
The Asia Pacific Microplate Reader Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Microplate Reader Market report:
The Asia Pacific Microplate Reader Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Microplate Reader Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Microplate Reader Market value chain can benefit from the information contained in a comprehensive market report.
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