Global Microplate Readers Market 2017-2021
About Microplate Readers
A microplate reader is an instrument that is used to detect the chemical, biological, or physical events in cells. Researchers in the life sciences, healthcare, and pharmaceutical industries look to enhance routine laboratory processes and improve efficiency by introducing products or systems that conduct repetitive processes automatically, which helps save operational time for researchers. This allows them to dedicate more time for pivotal activities such as data analysis and generation of actionable insights. There are several types of products that help with laboratory automation.
Technavio’s analysts forecast the global microplate readers market to grow at a CAGR of 5.29% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global microplate readers market for 2017-2021. To calculate the market size, the report considers the revenue generated from the retail sales of microplate reader instruments to the various end-users.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Microplate Readers Market 2017-2021
Technavio recognizes the following companies as the key players in the global microplate readers market: BioTek Instruments, PerkinElmer, Tecan, and Thermo Fisher Scientific.
Other Prominent Vendors in the market are: Awareness Technology, Biochrom, Bio-Rad, BMG LABTECH, and Molecular Devices.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is increasing focus on drug discovery and development. There is an increase in the focus on drug discovery and development by pharmaceutical and biotechnology companies. This is due to the increasing prevalence of various diseases such as HIV, acquired immune deficiency syndrome (AIDS), and cancer, which increases the financial burden of countries. Therefore, new drugs and therapies are required to successfully reduce the prevalence of these diseases. Research institutions are also utilizing microplate readers to better understand diseases at a molecular level to discover potential therapies. The biopharmaceutical shift within the drug development industry has increased the focus of drug developing countries to study the behavior of biological molecules in the formulation.”
According to the report, one of the major drivers for this market is increasing automation in healthcare. Fully automated lab solutions can contribute toward cost savings and provide effective results to end-users such as doctors, laboratories, hospitals, organizations, and patients across the globe. Automated solutions can also contribute to considerable savings on labor as automation replaces manually intensive tasks and researchers can use the time for analysis and interpretation. Additionally, improved overall lab productivity can also be achieved through automated solutions as they are free from human errors.
Further, the report states that one of the major factors hindering the growth of this market is lack of trained professionals. Most critical diagnostic tests are performed in laboratories by highly skilled staff. Critical diagnostic tests are at their infancy stage in developing countries. Most medical professionals and laboratory technicians lack knowledge about clinical diagnostics tests and their benefits. There is also a shortage of trained professionals who can handle newly developed technologically advanced diagnostic devices. Furthermore, as most experiments involving microplate readers work on experimental readings, any discrepancy or any incorrect recording of observations will lead to incorrect results.
BioTek Instruments, PerkinElmer, Tecan, Thermo Fisher Scientific, Awareness Technology, Biochrom, Bio-Rad, BMG LABTECH, and Molecular Devices.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook