The Insight Partners published latest research report on “Microplate Reader Market Size Report, Share, Growth, Industry Outlook & Forecast to 2027 - COVID-19 Impact and Global Analysis
The Insight Partners published latest research report on “Microplate Reader Market Size Report, Share, Growth, Industry Outlook & Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Application, and End User,” the global market size is expected to grow from USD 534.5 million in 2019 and is projected to reach USD 704.4 million by 2027; it is expected to grow at a CAGR of 3.6% from 2020 to 2027.
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Global Microplate Reader Market Growth Drivers:
• Increasing demand for drug discovery and research: The demand for microplate readers is increasing due to the growing demand for drug discovery and research. Microplate readers are essential tools for high-throughput screening of compounds, which is an important step in drug discovery.
• Technological advancements: Advancements in microplate reader technology are driving the market growth. These advancements include increased sensitivity, higher throughput, and automation capabilities, which allow for more efficient and accurate analysis of samples.
• Increasing adoption of microplate readers in clinical diagnostics: Microplate readers are being increasingly adopted in clinical diagnostics due to their ability to analyze multiple samples simultaneously. This can reduce the time and cost of diagnostic testing, making it an attractive option for healthcare providers.
• Growing use of microplate readers in food and beverage testing: Microplate readers are also being used in the food and beverage industry for quality control and safety testing. As the demand for food and beverage testing increases, the market for microplate readers is expected to grow.
• Increasing investments in life sciences research: The growing investments in life sciences research are driving the demand for microplate readers. Governments, academic institutions, and private companies are investing heavily in research and development, leading to an increase in the demand for microplate readers.
• Rising prevalence of chronic diseases: The rising prevalence of chronic diseases, such as cancer and cardiovascular disease, is driving the demand for microplate readers in clinical diagnostics. These diseases require frequent monitoring, and microplate readers offer a fast and reliable way to analyze patient samples.
Global Microplate Reader Market Analysis - Recent Developments:
• Increasing adoption of automated microplate readers: Automation capabilities in microplate readers have advanced significantly, leading to increased adoption of automated microplate readers in various applications such as drug discovery, clinical diagnostics, and food testing.
• Introduction of multimode microplate readers: Multimode microplate readers can perform several detection methods such as absorbance, fluorescence, luminescence, and others in a single device. This flexibility has made them increasingly popular in research and diagnostics.
• Growing demand for portable microplate readers: The demand for portable microplate readers has increased in recent years, particularly in resource-limited settings such as field-based research, remote clinical settings, and point-of-care testing. Portable microplate readers offer flexibility and convenience.
• Advancements in technology and software: Microplate reader manufacturers are continually improving the technology and software used in their devices. This includes advancements in sensitivity, accuracy, and data analysis capabilities.
• Increasing applications in drug discovery and research: Microplate readers are widely used in drug discovery and research, and there has been a growing demand for microplate readers in these fields. The demand has led to the development of specialized microplate readers that cater to specific applications, such as high-throughput screening or protein-protein interaction studies.
• Growing use in environmental testing: Microplate readers are being used increasingly in environmental testing, particularly in water quality testing. The ability to perform multiple assays in a single device has made them popular in environmental monitoring and testing programs.
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Global Microplate Reader Market Report Scope, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 534.5 Million in 2019 |
| Market Size Value by | USD 704.4 Million by 2027 |
| Growth rate | CAGR of 3.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 197 |
| No. of Tables | 138 |
| No. of Charts & Figures | 70 |
| Historical data available | Yes |
| Segments covered | Type, Application, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | Biotek Instruments, Inc., Hercuvan Lab Systems, Molecular Devices, LLC, Thermo Fisher Scientific, BMG Labtech, Promega Corporation, PerkinelmerInc, Bio-Rad Laboratories, Inc., Tecan Trading AG, Lonza |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
A microplate consists of small wells wherein separate reactions take place. A microplate reader is laboratory machine used for the estimation of biochemical or physical reactions, properties, and analytes within the microplate wells. It detects signals and quantifies the parameter of interest. The use of readers reduces operational time and saves reagent costs, allowing researchers to commit more time to analyze data analysis and derive actionable insights.
Browse key market insights spread across 197 pages with 138 list of tables & 70 list of figures from the report, “Microplate Reader Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Single-Mode Microplate Readers and Multi-Mode Microplate Readers), Application (Genomics and Proteomics Research, Drug Discovery, Clinical Diagnostics, and Other Applications), and End User (Hospital and Diagnostic Laboratories, Biotechnology and Pharmaceutical Companies, and Research and Academic Institutes)” in detail along with the table of contents: https://www.theinsightpartners.com/reports/microplate-reader-market
The microplate reader market is witnessing considerable growth amid the COVID-19 pandemic. Surge in research and development, and diagnostics activities pertaining to the novel coronavirus is a key factor propelling the market growth. In addition, emphasis on vaccine development across the world is also estimated to offer lucrative opportunities for market growth.
The World Health Organization (WHO), Food and Drug Administration (FDA), National Health Service (NHS), and Centers for Disease Control and Prevention (CDC) are among the major primary and secondary sources referred to while preparing this microplate reader market analysis.
On the basis of application, the microplate reader market is segmented into genomics and proteomics research, drug discovery, clinical diagnostics, and other applications. In 2019, the drug discovery segment held the largest share of the market; however, the clinical diagnostics segment is estimated to register the highest CAGR of 4.2% during the forecast period. The market growth of the clinical diagnostics segment is attributed to the increasing use of advanced technologies in the diagnostics industry and growing emphasis on quick disease diagnosis.
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