Product Code: TIPRE00022201
The North America microplate reader market was valued at approximately US$ 274.79 million in 2023 and is projected to grow to around US$ 423.84 million by 2031, reflecting a compound annual growth rate (CAGR) of 5.6% during the forecast period from 2023 to 2031.
Growth Drivers in the Pharmaceutical Sector
The surge in research and development (R&D) investments within the pharmaceutical industry is a significant factor propelling the North America microplate reader market. Globally, there is an increasing emphasis on drug discovery, with the US biopharmaceutical sector leading the way in the development of innovative therapeutics. The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the foremost biopharmaceutical research companies in the United States, and in 2023, its member companies reported R&D expenditures of approximately US$ 96 billion worldwide. This substantial investment underscores the commitment of pharmaceutical companies to advance drug discovery, gene sequencing, and the development of targeted proteins to address the growing healthcare demands.
The rise of personalized medicine is also contributing to the heightened demand for genetic studies. Precision medicine leverages an individual's genomic data to provide tailored treatments for specific conditions. The increasing incidence of chronic diseases has led to a greater need for biologics, orphan disease drugs, and personalized therapies. In February 2020, the National Human Genome Research Institute (NHGRI) announced a new precision medicine and genomics initiative aimed at enhancing the tools available for diagnosing and treating diseases. The advancements in genomics and proteomics are pivotal trends that are driving the growth of the microplate reader market. Consequently, the increased funding for drug discovery and development activities in the biotechnology and pharmaceutical sectors is significantly boosting the demand for microplate readers. Major companies like Pfizer and Novartis are heavily investing in R&D for new drugs, relying on the high-throughput screening capabilities of modern microplate readers to expedite their research processes.
Overview of the North America Microplate Reader Market
The North America microplate reader market is segmented into three primary regions: the United States, Canada, and Mexico. The growth of this market in North America is characterized by a rising demand for advanced and rapid processing technologies among biopharmaceutical and biotechnology firms, the presence of key market players, and extensive R&D activities conducted by various academic and research institutions.
In North America, the United States represents the largest market for microplate readers. The expansion of the US microplate reader market can be attributed to a significant increase in life science research activities, including genomic and proteomic studies, drug discovery, and clinical diagnostics. For instance, in January 2020, Illumina, Inc. announced a strategic partnership with Roche aimed at accelerating genomic research and enhancing access to genomic technologies. The company is also focused on introducing new products and software, which is expected to further stimulate genomic research. This growth in genomic research is anticipated to positively influence the adoption of microplate readers in the US. Additionally, the increasing number of product launches driven by the demand for advanced processing technologies is expected to create lucrative growth opportunities for the US microplate reader market throughout the forecast period. Notably, in November 2020, Enzo Biochem, a US-based diagnostic company, launched a compact and portable microplate reader designed for clinical diagnostics.
Market Segmentation Analysis
The North America microplate reader market is categorized based on type, application, end user, and country.
- By Type: The market is divided into single-mode microplate readers and multi-mode microplate readers. In 2023, the single-mode microplate readers segment held a larger share of the market. This segment is further divided into absorbance plate readers, fluorescence plate readers, and luminescence plate readers. The multi-mode microplate readers segment includes filter-based readers, monochromator-based readers, and hybrid readers.
- By Application: The market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and others. The drug discovery segment accounted for the largest share of the market in 2023.
- By End User: The 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 market share in 2023.
- By Country: The market is segmented into the US, Canada, and Mexico, with the US dominating the market share in 2023.
Key Players in the Market
Prominent companies operating in the North America microplate reader market include 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. These companies are key players in the development and distribution of microplate readers, contributing to the market's growth and innovation.
Table Of Contents
1. Introduction
- 1.1 Report Guidance
- 1.2 Market Segmentation
2. Executive Summary
- 2.1 Key Insights
- 2.2 Market Attractiveness
3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:
- 3.3 Assumptions and Limitations
4. North America Microplate Reader Market - Key Market Dynamics
- 4.1 Market Drivers
- 4.1.1 Surging Research and Development Investments in Pharmaceutical Industry
- 4.1.2 Expanding Applications in Biopharmaceutical Research
- 4.2 Market Restraints
- 4.2.1 High Cost of Advanced Microplate Readers
- 4.3 Market Opportunities
- 4.3.1 Growing Emphasis on Point-of-Care Testing
- 4.4 Future Trends
- 4.4.1 Introduction of New Technologies in Microplate Readers
- 4.5 Impact of Drivers and Restraints:
5. Microplate Reader Market - North America Analysis
- 5.1 North America Microplate Reader Market Revenue (US$ Million), 2021-2031
- 5.2 North America Microplate Reader Market Forecast Analysis
6. North America Microplate Reader Market Analysis - by Type
- 6.1 Single-Mode Microplate Readers
- 6.1.1 Overview
- 6.1.2 Single-Mode Microplate Readers: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 6.2 Multi-Mode Microplate Readers
- 6.2.1 Overview
- 6.2.2 Multi-Mode Microplate Readers: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
7. North America Microplate Reader Market Analysis - by Application
- 7.1 Drug Discovery
- 7.1.1 Overview
- 7.1.2 Drug Discovery: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 7.2 Clinical Diagnostics
- 7.2.1 Overview
- 7.2.2 Clinical Diagnostics: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 7.3 Genomics and Proteomics Research
- 7.3.1 Overview
- 7.3.2 Genomics and Proteomics Research: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
8. North America Microplate Reader Market Analysis - by End User
- 8.1 Biotechnology and Pharmaceutical Companies
- 8.1.1 Overview
- 8.1.2 Biotechnology and Pharmaceutical Companies: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.2 Hospital and Diagnostic Laboratories
- 8.2.1 Overview
- 8.2.2 Hospital and Diagnostic Laboratories: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 8.3 Research and Academic Institutes
- 8.3.1 Overview
- 8.3.2 Research and Academic Institutes: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
9. North America Microplate Reader Market - Country Analysis
- 9.1 North America
- 9.1.1 North America Microplate Reader Market - Revenue and Forecast Analysis - by Country
- 9.1.1.1 North America Microplate Reader Market - Revenue and Forecast Analysis - by Country
- 9.1.1.2 United States: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 9.1.1.2.1 United States: North America Microplate Reader Market Share - by Type
- 9.1.1.2.2 United States: North America Microplate Reader Market Share - by Single-mode Microplate Readers
- 9.1.1.2.3 United States: North America Microplate Reader Market Share - by Multi-mode Microplate Readers
- 9.1.1.2.4 United States: North America Microplate Reader Market Share - by Application
- 9.1.1.2.5 United States: North America Microplate Reader Market Share - by End User
- 9.1.1.3 Canada: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 9.1.1.3.1 Canada: North America Microplate Reader Market Share - by Type
- 9.1.1.3.2 Canada: North America Microplate Reader Market Share - by Single-mode Microplate Readers
- 9.1.1.3.3 Canada: North America Microplate Reader Market Share - by Multi-mode Microplate Readers
- 9.1.1.3.4 Canada: North America Microplate Reader Market Share - by Application
- 9.1.1.3.5 Canada: North America Microplate Reader Market Share - by End User
- 9.1.1.4 Mexico: North America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
- 9.1.1.4.1 Mexico: North America Microplate Reader Market Share - by Type
- 9.1.1.4.2 Mexico: North America Microplate Reader Market Share - by Single-mode Microplate Readers
- 9.1.1.4.3 Mexico: North America Microplate Reader Market Share - by Multi-mode Microplate Readers
- 9.1.1.4.4 Mexico: North America Microplate Reader Market Share - by Application
- 9.1.1.4.5 Mexico: North America Microplate Reader Market Share - by End User
10. Microplate Reader Market - Industry Landscape
11. Company Profiles
- 11.1 Hercuvan Lab Systems
- 11.1.1 Key Facts
- 11.1.2 Business Description
- 11.1.3 Products and Services
- 11.1.4 Financial Overview
- 11.1.5 SWOT Analysis
- 11.1.6 Key Developments
- 11.2 Molecular Devices, LLC.
- 11.2.1 Key Facts
- 11.2.2 Business Description
- 11.2.3 Products and Services
- 11.2.4 Financial Overview
- 11.2.5 SWOT Analysis
- 11.2.6 Key Developments
- 11.3 Thermo Fisher Scientific Inc
- 11.3.1 Key Facts
- 11.3.2 Business Description
- 11.3.3 Products and Services
- 11.3.4 Financial Overview
- 11.3.5 SWOT Analysis
- 11.3.6 Key Developments
- 11.4 BMG LABTECH
- 11.4.1 Key Facts
- 11.4.2 Business Description
- 11.4.3 Products and Services
- 11.4.4 Financial Overview
- 11.4.5 SWOT Analysis
- 11.4.6 Key Developments
- 11.5 Promega Corp
- 11.5.1 Key Facts
- 11.5.2 Business Description
- 11.5.3 Products and Services
- 11.5.4 Financial Overview
- 11.5.5 SWOT Analysis
- 11.5.6 Key Developments
- 11.6 Revvity Inc
- 11.6.1 Key Facts
- 11.6.2 Business Description
- 11.6.3 Products and Services
- 11.6.4 Financial Overview
- 11.6.5 SWOT Analysis
- 11.6.6 Key Developments
- 11.7 Bio-Rad Laboratories Inc
- 11.7.1 Key Facts
- 11.7.2 Business Description
- 11.7.3 Products and Services
- 11.7.4 Financial Overview
- 11.7.5 SWOT Analysis
- 11.7.6 Key Developments
- 11.8 Tecan Trading AG
- 11.8.1 Key Facts
- 11.8.2 Business Description
- 11.8.3 Products and Services
- 11.8.4 Financial Overview
- 11.8.5 SWOT Analysis
- 11.8.6 Key Developments
- 11.9 Lonza Group AG
- 11.9.1 Key Facts
- 11.9.2 Business Description
- 11.9.3 Products and Services
- 11.9.4 Financial Overview
- 11.9.5 SWOT Analysis
- 11.9.6 Key Developments
- 11.10 Agilent Technologies Inc
- 11.10.1 Key Facts
- 11.10.2 Business Description
- 11.10.3 Products and Services
- 11.10.4 Financial Overview
- 11.10.5 SWOT Analysis
- 11.10.6 Key Developments
12. Appendix
- 12.1 About The Insight Partners
- 12.2 Glossary of Terms