Microplate readers are also known as plate readers or microplate photometers. This instrument is used to detect biological, physical, and chemical events of samples in microtiter plates. Microplate technologies are flexible, configurable, reliable, and ubiquitous in structure. The system handles the routine upgradeable design which creates new assay possibilities. Its unique technology and software features ensure better functional ability, and also increase the productivity of the lab in near future. There are many types of microplates, which depends on density of wells structure, color, material of plastic and various coatings. However, new developments in medical devices allow to detect the diseases or infection at the cellular and molecular level, paving the way for early diagnosis and treatment of diseases.
High prevalence of diseases such as influenza, rising patient awareness, growing research and development initiatives, advent of high-throughput screening (HTS) for drug discovery, and genomic technology are important driving factors for the growth of the microplate readers market. According to the World Health Organization, India and Bangladesh have been detected with high proportion of influenza A (H1N1). In southern China, 1,074 specimens were tested positive for influenza in April 2012. In 2012, there were 119 influenza-associated SARI cases reported between January 13 and April 18, out of which 58% of cases was known to be fatal. In 2015, the WHO stated that the number of new cancer cases is expected to rise by about 70% over the next two decades. Growth in technologies such as polymerase chain reaction (PCR) and DNA sequencing, which rely on sensitive biologic fluorescent imaging reagents, is projected to fuel the growth of the overall microplate readers market. However, factors such as high cost of reagents, label-free technologies, and sensitivity towards storage conditions are expected to hamper the growth of the global microplate readers market.
The global microplate readers market has been segmented on the basis of product, technology, application, end-user, and region. In terms of product, the market is classified into single mode reader, absorbance reader, fluorescence reader, and multimode reader. In terms of technology, the market is classified into nanotechnology, biologic targeting, microfluidics, supramolecular chemistry, protein engineering, and others. In terms of application, the market is classified into oncology, biotechnology, neurology, and others. Biotechnology is a fast growing segment owing to increasing funds in research and technology globally. In terms of end-user, the market is classified into diagnostic laboratories, pathology labs, life sciences and research lab, and others.
In terms of region, the market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Geographically, North America dominates the global microplate readers market due to increase in funding for the development of research and health care infrastructure. Growing incidence of epidemic diseases and early phase diagnosis and treatment of diseases are driving the medical biotechnology segment, which in turn is expected to boost the growth of the market for microplate readers in North America. Europe is the second largest market for microplate readers as there are favorable government policies regarding the development of health care infrastructure and molecular device companies. Asia Pacific is expected to expand at a high growth rate during the forecast period due to rising population, changing lifestyle, growing awareness among patients, and increasing per capita expenditure. In addition, the economic growth in India and China is supporting the health care infrastructure as well as expansion of pharmaceutical companies and biotech labs.
Major players operating in the global microplate readers market include PerkinElmer, Inc., Thermo Fisher Scientific, MDS Analytical Technologies, Tecan, BioTek Instruments, Inc., Corning, and Greiner Bio-One among others.
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.