South & Central America Microplate Reader Market Forecast to 2031 - Regional Analysis

Description

List of Tables

The microplate reader market in South and Central America was valued at approximately US$ 24.69 million in 2023 and is projected to grow to US$ 35.30 million by 2031, reflecting a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2023 to 2031.

Growth Drivers in Biopharmaceutical Research

Microplate readers are essential laboratory instruments that measure various chemical, biological, or physical reactions occurring within the wells of a microplate. These devices detect optical signals produced by these reactions, enabling the quantification of specific analytes in samples. The pharmaceutical and biotechnology sectors heavily rely on a range of instruments, particularly in high-throughput screening (HTS) and drug discovery processes. Microplate-based assays allow researchers to evaluate a large number of samples simultaneously, with microplate readers capable of processing up to 3,456 samples in just a few minutes. This capability significantly reduces operational time and minimizes reagent costs, allowing researchers to concentrate on data analysis and deriving actionable insights. Consequently, microplate readers have become indispensable tools for various biological and chemical assays.

Several prominent companies, including Agilent Technologies, Inc., Molecular Devices, LLC, and BMG LABTECH, are at the forefront of providing innovative microplate readers tailored for HTS and drug discovery applications. For instance, BMG LABTECH has developed advanced detection technologies such as NanoBRET and TR-FRET, which are particularly useful in high-throughput drug screening. In August 2023, Lonza introduced the Nebula Absorbance Reader, designed to enhance endotoxin and pyrogen testing. This new reader serves as a high-performance alternative, delivering results comparable to those obtained with Lonza's Nebula Multimode Reader. It is specifically engineered to work seamlessly with Lonza's reagents and meets the specifications for their endotoxin assays, including the PYROGENT 5000 and Kinetic-QCL assays, while also supporting readouts for monocyte activation tests like the PyroCell MAT System.

Market Overview

Brazil stands out as a key hub for clinical trials in the region. According to Clinical Trials Arena, Brazil accounted for a 1.7% share of global clinical trial activities in 2021. In July 2022, Boston CRO made a strategic acquisition of the Rio de Janeiro-based Instituto Brasil de Pesquisa Clinica (IBPClin), marking a significant step towards implementing a decentralized clinical trial delivery model in Latin America. IBPClin is recognized as the largest research center in South America, having conducted over 160 industry-sponsored research studies and enrolling more than 7,000 participants across 12 Brazilian states. Additionally, in March 2020, the Fiocruz Foundation established a new hospital center and invested in clinical trials in collaboration with the World Health Organization (WHO). This new facility will host a solidarity clinical trial led by Fiocruz, which is being conducted in 18 hospitals across 12 Brazilian states, supported by the Department of Science and Technology of the Ministry of Health and coordinated by INI/Fiocruz. Such initiatives aimed at enhancing clinical trials and research activities in Brazil are pivotal in driving the growth of the microplate reader market in the region.

Market Segmentation Analysis

The South and Central America microplate reader market is segmented based on type, application, end user, and country.

1. Type: The market is divided into single-mode and multi-mode microplate readers. In 2023, single-mode microplate readers held a larger market share. This segment includes absorbance, fluorescence, and luminescence plate readers. The multi-mode segment is further categorized into filter-based, monochromator-based, and hybrid readers.

2. Application: The market is segmented into drug discovery, clinical diagnostics, genomics and proteomics research, and others. The drug discovery segment was the largest in terms of market share in 2023.

3. End User: The market is classified into biotechnology and pharmaceutical companies, hospital and diagnostic laboratories, and research and academic institutes. The biotechnology and pharmaceutical companies segment dominated the market share in 2023.

4. Country: The market is segmented into Brazil, Argentina, and the Rest of South and Central America, with Brazil leading the market share in 2023.

Key Players in the Market

Leading companies in the South and Central 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 instrumental in advancing the technology and applications of microplate readers, catering to the growing demands of the biopharmaceutical research sector.

Product Code: TIPRE00022217

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. South & Central 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. South & Central America Microplate Reader Market - Analysis

5.1 South & Central America Microplate Reader Market Revenue (US$ Million), 2021-2031
5.2 South & Central America Microplate Reader Market Forecast Analysis

6. South & Central America Microplate Reader Market Analysis - by Type

6.1 Single-Mode Microplate Readers
- 6.1.1 Overview
- 6.1.2 Single-Mode Microplate Readers: South & Central 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: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)

7. South & Central America Microplate Reader Market Analysis - by Application

7.1 Drug Discovery
- 7.1.1 Overview
- 7.1.2 Drug Discovery: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.2 Clinical Diagnostics
- 7.2.1 Overview
- 7.2.2 Clinical Diagnostics: South & Central 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: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)

8. South & Central 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: South & Central 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: South & Central 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: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)

9. South & Central America Microplate Reader Market - Country Analysis

9.1 South and Central America
- 9.1.1 South & Central America Microplate Reader Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.1 South & Central America Microplate Reader Market - Revenue and Forecast Analysis - by Country
  - 9.1.1.2 Brazil: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.2.1 Brazil: South & Central America Microplate Reader Market Share - by Type
    - 9.1.1.2.2 Brazil: South & Central America Microplate Reader Market Share - by Single-mode Microplate Readers
    - 9.1.1.2.3 Brazil: South & Central America Microplate Reader Market Share - by Multi-mode Microplate Readers
    - 9.1.1.2.4 Brazil: South & Central America Microplate Reader Market Share - by Application
    - 9.1.1.2.5 Brazil: South & Central America Microplate Reader Market Share - by End User
  - 9.1.1.3 Argentina: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.3.1 Argentina: South & Central America Microplate Reader Market Share - by Type
    - 9.1.1.3.2 Argentina: South & Central America Microplate Reader Market Share - by Single-mode Microplate Readers
    - 9.1.1.3.3 Argentina: South & Central America Microplate Reader Market Share - by Multi-mode Microplate Readers
    - 9.1.1.3.4 Argentina: South & Central America Microplate Reader Market Share - by Application
    - 9.1.1.3.5 Argentina: South & Central America Microplate Reader Market Share - by End User
  - 9.1.1.4 Rest of South and Central America: South & Central America Microplate Reader Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 9.1.1.4.1 Rest of South and Central America: South & Central America Microplate Reader Market Share - by Type
    - 9.1.1.4.2 Rest of South and Central America: South & Central America Microplate Reader Market Share - by Single-mode Microplate Readers
    - 9.1.1.4.3 Rest of South and Central America: South & Central America Microplate Reader Market Share - by Multi-mode Microplate Readers
    - 9.1.1.4.4 Rest of South and Central America: South & Central America Microplate Reader Market Share - by Application
    - 9.1.1.4.5 Rest of South and Central America: South & Central America Microplate Reader Market Share - by End User

10. Microplate Reader Market - Industry Landscape

10.1 Overview

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