Global Microplate Readers Market 2017-2021

Global microplate readers market forecasts

According to the microplate readers market insights, market research analysts at Technavio predict that this market will grow steadily at a CAGR of more than 5% by 2021. The increasing automation of healthcare solutions will be one of the primary growth factors for this market. Fully automated lab solutions can lead to cost savings and provide effective results to end-users such as doctors, laboratories, hospitals, organizations, and patients. Automated solutions offer considerable savings on labor since it replaces manual intensive tasks and save time that can be used by researchers for analysis and interpretation. Moreover, automation also improves the overall lab productivity by eliminating human errors. Automation also contributes to data-driven insights as the technology used to automate processes delivers a significant quantity of data that can be used to optimize and improve performance. Furthermore, automated systems collect step-by-step data on the working of the processes and also utilize the information to enhance the process, which in turn, increases the throughput and reduces the workload on researchers. These benefits will result in constant developments in the automation of laboratory equipment such as microplate readers.

The Americas accounted for the major shares of the microplate readers market during 2016 and the region is projected to continue its dominance during the forecast period as well. The major contributor to the growth of the market in the region is the significant rise in investment in the fields of research and testing in healthcare by the US. Furthermore, the availability of strong distribution networks in countries such as the US and Canada and the increasing focus of pharmaceutical companies to discover new drugs also drive the growth of the microplate readers market in the Americas.

Competitive landscape and key vendors

The microplate readers market consists of numerous international and regional vendors. With the international vendors constantly expanding their presence in the market, regional vendors are finding it difficult to compete with them especially in terms of quality, pricing, market reach, and financial resources. The competitive environment of the market will increase due to the rise in product and service extensions, product innovations, and M&As.

The leading vendors in the market are

• BioTek Instruments
• PerkinElmer
• Tecan
• Thermo Fisher Scientific

The other prominent vendors in the market are Awareness Technology, Biochrom, Bio-Rad, BMG LABTECH, and Molecular Devices.

Segmentation by product type and analysis of the microplate readers market

• Single-mode microplate
• Multi-mode microplate

Based on the microplate readers market analysis, the multi-mode microplate segment accounted for the major shares of the market. Benefits such as the ease of operation, the provision to accommodate additional features, and the increased cost savings, will contribute to the growth of this market segment in the coming years. Moreover, the launch of products with new detection modes and other features will also drive the demand for multi-mode microplate readers.

Segmentation by end-user and analysis of the microplate readers market

• Hospitals and diagnostic centers
• Academic and research institutions
• Pharmaceutical and biotechnology companies

According to the microplate readers market outlook, the hospitals and research institutions segment accounted for the maximum market shares during 2016. This segment will retain its market dominance during the forecast period as well and this will attribute to the availability of advanced technologies for molecular diagnostics in genetic testing and cancer screening and the launch of a new range of biomarkers and molecular tests.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global microplate readers market?
• What are the key market trends impacting the growth of the global microplate readers market?
• What are the challenges to market growth?
• Who are the key vendors in the global microplate readers market?
• What are the market opportunities and threats faced by the vendors in the global microplate readers market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global microplate readers market?

Technavio also offers customization on reports based on specific client requirement.