In Vitro and In Vivo Microelectrode Array Market: Introduction
- Microelectrode arrays are also known as multi-electrode arrays. Microelectrode arrays are devices, which have many (tens to thousands) shanks or plates also known as micro-electrodes. Neural signals are delivered by connecting neurons to electronic circuitry. Non-implantable microelectrode arrays are used in in vitro microelectrode arrays and implantable are used in in vivo microelectrode arrays.
Key Drivers, Restrains, and Opportunities of Global In Vitro and In Vivo Microelectrode Array Market
- Cancer tissue detection is done using in vitro and in vivo microelectrode arrays. Increase in number of cancer patients across the world drives the global in vitro and in vivo microelectrode array market. According to the World Health Organization, International Agency for Research on Cancer, the estimated number of new cancer patients and deaths due to cancer in 2020 stood at 19.3 million and 9.96 million.
- Increase in incidence of pandemic diseases across the world drives the need of research & development and introduction of neurostimulation devices. This fuels the growth of the global in vitro and in vivo microelectrode array market.
- Wide applications of 3D nanoparticle printing technology in vitro complementary metal–oxide–semiconductor-based microelectrode arrays and extensive use of microelectrode arrays in neuroscience research boost the growth of the market. Key players in the global In vitro and in vivo microelectrode array market are expanding their product portfolio with innovative products by acquiring companies and investing in facility expansion.
- Increase in innovations and technological advancements in in vitro and in vivo microelectrode arrays is projected to augment the market. However, intense competition from global players is anticipated to be a challenge for new entrants in the market.
- Governments of developing countries are making significant investments to modernize health care infrastructure in their respective countries, which is likely to increase access to health care. This is expected to boost demand for in vitro and in vivo microelectrode arrays. Rise in prevalence of chronic diseases, such as cancer, in developing countries presents lucrative opportunities in the global in vitro and in vivo microelectrode array market.
- North America is projected to capture major share of the global in vitro and in vivo microelectrode array market during the forecast period. This is attributed to increase in applications in neuroscience and surge in incidence of cancer. Moreover, well-established research & development institutes and hub for key industry players are the other drivers of the in vitro and in vivo microelectrode array market in the region.
- The in vitro and in vivo microelectrode array market in Asia Pacific is expected to grow at a rapid pace during the forecast period owing to rise in research & development institutes
Key Players Operating in Global In Vitro and In Vivo Microelectrode Array Market
The global in vitro and in vivo microelectrode array market is highly consolidated due to the presence of small number of key players. These players hold major share in their respective regions. Growth strategies adopted by leading players are likely to drive the global in vitro and in vivo microelectrode array market.
Major players operating in the global in vitro and in vivo microelectrode array market are listed below:
- Tucker Davis Technologies
- Screen Holdings Co. Ltd.
- Plexon, Inc.
- Neuralynx, Inc.
- MaxWell Biosystems AG
- Harvard Bioscience, Inc.
- Blackrock Microsystems LLC
- Axion BioSystems, Inc.
- 3Brain AG
- Other Prominent Players
Global In Vitro and In Vivo Microelectrode Array Market: Research Scope
Global In Vitro and In Vivo Microelectrode Array Market, by Type
- Multiwell Microelectrode Array
- Single Well Microelectrode Array
Global In Vitro and In Vivo Microelectrode Array Market, by End-user
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
- Academics & Research
Global In Vitro and In Vivo Microelectrode Array Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.