South & Central America Microplate Reader Market Forecast to 2031 - Regional Analysis - by Type, Application, and End User

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.

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