Report Details-
Global Microplate Reader Market, By Well System (96 Wells, 384 Wells, 1536 Wells, Others), Product Type (Multi-Mode Microplate Readers, Automated ELISA Systems, Automated Nucleic Acid Purification Systems, Single-Mode Microplate Readers), Application (Protein and Nucleic Acid Detection, Enzyme-Linked Immunosorbent Assay, Others), End User (Biotechnology and Pharmaceutical Companies, Contract Research Organizations, Diagnostic Laboratories, Hospital, Research and Academic Institutes and Others), Distribution Channel (Direct Tenders and Retail Sales) – Industry Trends and Forecast to 2029
Global Microplate Reader Market Analysis and Size
The increasing research and development activities in the pharmaceuticals industry for the management of chronic conditions across the globe, has led to the growth of the overall microplate reader market. Recently, the microplate reader has been in high demand due to a rise in research, development, and diagnostics activities relating to the new coronavirus. Consequently, these factors have propelled the growth of the market over the forecasted period.
- Global Microplate Reader Market was valued at USD 579.22 million in 2021 and is expected to reach USD 798.83 million by 2029, registering a CAGR of 4.1% during the forecast period of 2022-2029. The “multi-mode microplate” accounts for the largest product type segment in the microplate reader market within the forecasted period owing to the rising number of research and development activities for the management of chronic conditions. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Global Microplate Reader Market Definition
Microplate readers are instruments that are used in labs, research institutes, laboratories, hospitals, and clinics to measure emitted light and investigate several segments. Multi-mode microplate readers, single-mode microplate readers, automated ELISA systems, and automated nucleic acid purification systems are all examples of microplate readers.
Microplate Reader Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Growing Healthcare Issues
The factors such as the high prevalence of diseases such as influenza and the rising patient awareness are the most significant factors driving the growth for this market.
- Usage for Various Applications
The high use in modern drug discovery and development activities and genomic and proteomic research are also projected to bolster the growth of the market.
Moreover, market players' increasing focus on miniaturization also cushions the market’s growth within the forecasted period. Furthermore, the expanding healthcare sector along with the rise in the increasing number of research laboratories are also expected to fuel market growth.
Opportunities
- Growing Investments and Advancements Offer Opportunities
Moreover, the rise in the number of research and life science laboratories and growing government support for research and laboratories work are estimated to generate lucrative opportunities for the market. Surge in the alertness between the people related to the significance of biotechnological studies will further provide numerous opportunities within forecasted period.
Restraints/Challenges Global Microplate Reader Market
- High Costs To Hinder Growth
On the other hand, the rise in the price of multi-mode microplate readers and advanced microplate readers is expected to obstruct market growth. Moreover, the huge investments required for research and development for the launch of innovative products in the market, will impede the overall growth of the market.
- Survival of Small Players is Challenging within Market
Also, to survive in the market, the small players must lower their operational costs. The survival of small players and new entrants is a major challenge the microplate reader market.
- Availability Of Alternatives Will Harm The Growth
Moreover, the availability of sophisticated alternatives are also creating hurdles for the market growth.
This microplate reader market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the microplate reader market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Post Covid-19 Impact on Microplate Reader Market
The microplate reader market was largely industry impacted by the outbreak of COVID-19. The COVID-19 pandemic has had a substantial impact on hospital resources around the world. This has largely been accomplished by drastically lowering inpatient and outpatient services for various diseases and instituting infection prevention and control methods. Given the present pandemic and the pharmaceutical and biotechnology industries' role in containing the virus's spread by providing crucial medications, vaccines, kits, and other supplies, the demand for microplate products in this area is projected to rise. Owing to the increased product, the market is projected to grow at a substantial pace in the upcoming years.
Microplate Reader Market Regional Analysis/Insights
The microplate reader market is analyzed and market size insights and trends are provided by country, well system, product type, application, end user and distribution channel as referenced above.
The countries covered in the microplate reader market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the microplate reader market because of the technological development in life science research and development activities. Furthermore, the occurrence of major key players within the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the rise in research and developmental activities along with the growing government support for research and laboratories work within the region.
Global Microplate Reader Market Scope
The microplate reader market is segmented on the basis of well system, product type, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Well System
- 96 Wells
- 384 Wells
- 1536 Wells
- Others
On the basis of well system, the microplate reader market is segmented into 96 wells, 384 wells, 1536 wells and others.
Product Type
- Multi-Mode Microplate Readers
- Automated ELISA Systems
- Automated Nucleic Acid Purification Systems
- Single-Mode Microplate Readers
On the basis of product type, the microplate reader market is segmented into multi-mode microplate readers, automated ELISA systems, automated nucleic acid purification systems and single-mode microplate readers. Multi-mode microplate readers are sub-segmented as filter-based readers, monochromator-based readers and hybrid readers. Single-mode microplate readers are further segmented into absorbance plate readers, fluorescence plate readers and luminescence plate readers. The multi-mode microplate reader segment will register highest CAGR owing to the rising number of research and development activities for the management of chronic conditions.
Application
- Protein and Nucleic Acid Detection
- Enzyme-Linked Immunosorbent Assay
- Others
On the basis of application, the microplate reader market is segmented into protein and nucleic acid detection, enzyme-linked immunosorbent assay and others.
End User
- Biotechnology and Pharmaceutical Companies
- Contract Research Organizations
- Diagnostic Laboratories
- Hospital
- Research and Academic Institutes
- Others
On the basis of end user, the microplate reader market is segmented into biotechnology and pharmaceutical companies, contract research organizations, diagnostic laboratories, hospital, research and academic institutes and others.
Distribution Channel
- Direct Tenders
- Retail Sales
On the basis of distribution channel, the microplate reader market is segmented into direct tenders and retail sales.
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Competitive Landscape and Microplate Reader Market Share Analysis
The microplate reader market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to microplate reader market.
Some of the major players operating in the microplate reader market are Bio-Rad Laboratories Inc. (U.S), PerkinElmer (U.S), Danaher (U.S), Thermo Fisher Scientific (U.S), Agilent Technologies Inc. (U.S), Biotron Healthcare Pvt. Ltd., (Germany), Promega Corporation (U.S), Enzo Life Sciences Inc. (U.S), Berthold Technologies GmbH & Co. K.G. (Germany), Biochrom (U.K.), Corning Incorporated (U.S), Lonza (Switzerland), Brucker (U.S), Dynex Technologies (U.S), Bio-One International GmbH (Austria), Accuris Instruments (U.S.), CTK Biotech Inc. (U.S), LTEK (South Korea), JASCO (Japan), Rayto Life and Analytical Sciences Co.,Ltd. (China), Micro Lab Instruments (India), Biohit Oyj (Finland), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), and Hudson Robotics (U.S.) among others.
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Major TOC of the Report
· INTRODUCTION
· MARKET SEGMENTATION
· MARKET OVERVIEW
· EXECUTIVE SUMMARY
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