Microplate Reader Market Insights
The microplate reader market is anticipated to grow at a high CAGR over the forecast period on account of increasing investments in research & development by pharmaceutical, biotechnology, research institutes, and other diagnostic companies. The instrument is widely used to process and analyze information in biological and chemical experimental. Microplate readers developed in the market have several features such as versatile functionality, temperature control, ability store & export data, and plate-based imaging assays.
Microplate Reader Market: Well System Insights
On the basis of well systems, the market is segmented into 96-well, 384, and 1536. 96 well systems are the most commonly used single mode microplate readers. The demand for 384 and 1536 well systems are projected to grow at a high CAGR over the forecast period on account of its improved functionality.
Microplate Reader Market: Type Insights
Single mode and multimode are the two types of microplate readers available in the market. Even though multimode microplate readers are more expensive they are preferred due to their more efficient detector and optics. Multimode readers help analyzing or reading several factors such as fluorescence intensity, absorbance, and luminescence. Companies such as BioTek developed BioTek’s Cytation 3 that can work as a high-speed automated digital fluorescence microscope. Technological advancements in new product development is anticipated to positively impact market growth over the coming years.
Microplate Reader Market: Application Insights
On the basis of application, the microplate readers market is segmented into pharmaceutical & biotechnology companies, research institutes, and hospitals & diagnostic centers. Increasing investments undertaken in the pharmaceutical & biotechnology field for developing and testing drugs is anticipated to propel market growth over the coming years.
The applications of microplate readers in the pharmaceutical & biotechnology field are anticipated to hold the largest share and grow at a significant CAGR over the forecast period. Biotechnology has observed large investment in the genetic engineering, medical, agricultural, environmental, and industrial field. Developing of advanced medicines and drugs to cure chronic diseases and other ailments is anticipated to boost usage in the pharmaceutical sector.
Microplate Reader Market: Regional Insights
The demand for microplate readers in the North American region held the largest share on account of the prevalence of a large number of multinational companies operating in the U.S. and Canada. Europe is also projected to hold a predominant position in the market due to the presence of major pharmaceutical & biotechnology companies in Germany, the UK, and France. The high preference given to automation technologies in Europe and North America are projected to drive demand over the coming years.
The demand for microplate readers in Asia Pacific is also anticipated to grow tremendously from 2017 to 2025. The growing investments in the pharmaceutical sector of Japan, India, China, and Australia are projected to drive demand for microplate readers over the coming years.
Microplate Reader Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase microplate reader over the coming years. Some leading consumers in the market include Gilead Sciences, Inc., Amgen, and Celgene Corporation among others.
Microplate Reader Market: Competitive Landscape
Some of the major players in the market include BioTek Molecular Devices, PerkinElmer Inc., Tecan Trading AG., Corning Incorporated Thermo Fisher Scientific, BMG Labtech GmbH Instruments, Inc., Hidex Oy, Molecular Devices, LLC, Biochrom Ltd, Agilent Technologies, and Bio-Rad Laboratories, Inc. among others.
In August 2017, BioTek launched its new microplate reader 800 TS which is equipped with an easily programmable onboard software and color touchscreen interface. Technological upgrades introduced by manufacturing companies are anticipated to positively impact market demand.
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