Global Microplate Readers Market 2017-2021

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:

• Americas
• APAC
• EMEA

Technavio's report, Global Microplate Readers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

• BioTek Instruments
• PerkinElmer
• Tecan
• Thermo Fisher Scientific

Other prominent vendors

• Awareness Technology
• Biochrom
• Bio-Rad
• BMG LABTECH
• Molecular Devices

Market driver

• Increasing automation in healthcare
• For a full, detailed list, view our report

Market challenge

• Lack of trained professionals
• For a full, detailed list, view our report

Market trend

• Increasing focus on drug discovery and development
• For a full, detailed list, view our report

Key questions answered in this report

• What will the market size be in 2021 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

Press Release

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.



Companies Mentioned

BioTek Instruments, PerkinElmer, Tecan, Thermo Fisher Scientific, Awareness Technology, Biochrom, Bio-Rad, BMG LABTECH, and Molecular Devices.