Health

Global Microplate Absorbance Reader Market Projected to Augment at a Notable CAGR during the Forecast Period until 2028

Over the past years, increasing focus of research institutes and biotech companies in the healthcare industry are driving the growth of the global Microplate Absorbance Reader Market. Furthermore, rising technological advancements have made it possible to generate more reliable results compared to the traditional measurements. This is further increasing the focus of researchers towards the microplate absorbance reader and driving the growth of the global microplate absorbance reader market. However, the high sophistication of alternatives available in the market hampers the market growth. Moreover, poorly developed research facilities and medical infrastructure in the developing countries are expected to deter the growth of the global microplate absorbance reader market over the forecast period. Other factors like high cost associated with the instrument may also restrain the growth of the overall market.

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Microplate reader is laboratory instrument which are specifically designed for the detection and process of chemical, physical or biological reactions for the experimental purpose. Microplate absorbance reader is used in the quantification of gene expression, proteins, and for testing biochemical reactions. Microplate absorbance reader is majorly used for research purpose in bioassay and drug discovery. Recent technological advancements have made it possible to make the interactive user interface to include data acquisition from microplate reader. Microplate absorbance reader can be either fully automatic or semi-automatic. A microplate absorbance reader is basically a plate based spectrophotometer which measures the amount of light of a specific wavelength that is able to pass through a solution. Another major application of microplate absorbance reader is assessing the labeling efficiency of dye-labeled samples. Microplate absorbance reader uses ultraviolet or visible light for detection.

Microplate Absorbance Reader Market: Segmentation

Tentatively, global microplate absorbance reader market has been segmented on the basis of type, end user, and geography.

Based on type, global microplate absorbance reader market is segmented as below:

  • Single-Mode Microplate Absorbance Readers
  • Multimode Microplate Absorbance Readers

Based on end user, global microplate absorbance reader market is segmented as below:

  • Biotechnology Companies
  • Research Institutes
  • Contract Research organization’s
  • Others

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The microplate absorbance reader market is continuously evolving with more advancements in the technology. Due to increasing usage, the microplate absorbance readers are gaining more flexibility, functionality, and speed. Growing need from the users is increasing the demand of microplate absorbance reader in the market. Such reasons are making companies to mainly focus on R&D to attain the maximum market share in the global microplate absorbance reader market. Microplate absorbance reader measures a wide range of assays like ELISA using colorimetric substrates and protein concentrations. The microplate absorbance reader market is expected to grow with a double digit CAGR during the forecast period.

Microplate Absorbance Reader Market: Regional Outlook

Geographically, global microplate absorbance reader market is classified into regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding China and Japan, China, Japan, Middle East and Africa. Currently, North America microplate absorbance reader market is expected to contribute maximum shares to the global microplate absorbance reader market due to the presence of established key players in this region. Essentially, the US occupies the significant market share in North America region due to the high acceptance of microplate absorbance readers. This is further followed by Western Europe and Asia-Pacific regions owing to increasing automation of laboratories in these two regions. Asia Pacific microplate absorbance reader market is expected to be the most lucrative market due to the developing medical infrastructure, increasing government funding for research and development activities in the countries such as India, China which is expected to show a robust growth to the global microplate absorbance reader market. The growth in the Middle East & Africa and Latin America regions are significantly low when compared to the developing countries.

Microplate Absorbance Reader Market: Key Players

Some of the players identified in global microplate absorbance reader market include Bio-Rad Laboratories, BioTek Instruments, Inc., PerkinElmer Inc., Thermo Fisher Scientific Inc., Molecular Devices, LLC., Tecan Trading AG, Accuris Instruments and others. The market players are majorly focused on increasing the strong line of distribution channels and marketing of microplate absorbance readers.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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