Microplate Readers Market to Surge at 4.01% CAGR, which is anticipated to reach USD 734.2 million by 2030

CRI Report has released a report titled “Microplate Readers Market –Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 734.2 million by 2030. According to this Report, awareness, growing R&D programs, the emergence of high-throughput high-speed screening (HTS) for drug discovery, and genomic technology are key drivers of the growth of the microplate reader market. Aims to promote the growth of the Microplate Reader Market. The growth of the entire Microplate Reader Market is driven by the increase in research and development in the pharmaceutical industry and the increase in infectious diseases. An expansion of research, development and diagnostic activities related to the novel coronavirus is a key driver of Microplate Reader Market growth. In addition, it is estimated that the global focus on vaccine development will provide lucrative opportunities for market growth. With the development of Microplate Reader and the growing demand for them in laboratories, the Microplate Reader Market will definitely grow.

The market report on Microplate Readers Market includes in-depth insights as:

• The estimated value of the market was USD 542.4 million in the year 2020.
• Microplate Readers in North America held the largest market share in the year 2020.
• Based on End-User, Life Science Research Laboratories emerged as a key segment in the Microplate Readers market.
• Based on Application, Biotechnology emerged as a key segment in the Microplate Readers market.
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“The increase in infectious diseases has driven the demand for the development of fast and effective treatments, vaccines, and other drugs, thereby increasing the demand for microplate readers. Promote the growth of the global microplate reader market. According to data from the World Health Organization (WHO), the incidence of dengue fever increased significantly in 2017, which is equivalent to approximately 390 million people infected with dengue fever worldwide each year. In 2015, there were approximately 212 malaria cases and 429,000 deaths worldwide”, according to this report

A microplate reader is laboratory equipment used to measure chemical, biological or physical reactions, characteristics, and analytes in microtiter plates. Microtiter plates consist of small wells where individual reactions occur. These reactions convert the presence of analytes or the development of biochemical processes into light signals. The microplate reader recognizes these signals to quantify the parameters of interest. The microplate reader is used to quantify various biological and chemical analyses on microplates. In addition to biology, biochemistry, and pharmaceutical research in academic and industrial environments, tablet readers are also used in environmental research and the food and cosmetic industries. The multi-mode microplate reader provides flexibility and ease of use for a variety of applications

Microplate Readers Market is segmented by End User into Pharmaceutical, Hospitals, Life Science Research Laboratories, and Academic Research Institutes. The Life Science Research Laboratories segment is anticipated to dominate the Microplate Readers Market. The life science research laboratory department is expected to promote the growth of the Microplate Readers Market. Increased government initiatives and support for research and laboratory work are important factors leading to the significant growth of the Microplate Readers Market. This market segment is expected to grow the fastest during the forecast period. This growth is attributed to increased government support in the form of funding for biotechnology and pharmaceutical research.

Key Players in the Market

• Some of the key players operating in the Microplate Readers Market are Biotek Instruments, Inc., Hercuvan Lab Systems, Molecular Devices, LLC, Thermo Fisher Scientific, BMG Labtech, Promega Corporation, PerkinelmerInc, Bio-Rad Laboratories, Inc., Tecan Trading AG, Lonza.

Get Valuable Insights into Microplate Readers Market.

In the new report, CRI Report thrives to present an unbiased analysis of the Microplate Readers Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Microplate Readers market is segmented By Modality into Filter Microplate, Monochromatic Microplate, Portable Microplate, and Benchtop Microplate; By Application into Oncology, Molecular Biology, Biotechnology, Cellular Biology, and Others; By End-User into Pharmaceutical, Hospitals, Life Science Research Laboratories, and Academic Research Institutes. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.