Europe Microplate Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Single-Mode Microplate Readers and Multi-Mode Microplate Readers), Application (Genomics & Proteomics Research, Drug Discovery, Clinical Diagnostics, and Other), and End User (Hospital & Diagnostic Laboratories, Biotechnology & Pharmaceutical Companies, and Research & Academic Institutes)
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The Europe microplate readers market is expected to reach US$ 175.96 million by 2027 from US$ 139.69 million in 2019; it is estimated to grow at a CAGR of 3.0% from 2020 to 2027.
The growth of the market is attributed to some key driving factors such as increasing incidence of infectious diseases and consistent research in drug discovery activities. However, high cost of advanced microplate reader is the major factor hindering the market growth.
A microplate reader is laboratory machine used to estimate bio-chemical or physical reactions, properties, and analytes within the microplate well. It reduces operational time to save reagent costs, allowing researchers to commit more time to data analysis and create actionable insights. Infectious diseases are considered one of the leading causes of death worldwide. As per the WHO estimates, around 3–5 million people contract severe flu every year worldwide, and around 650,000 people die because of the flu. People with infectious diseases account for most hospital admissions and clinical diagnostics. Clinical diagnostics help detect early signs and risk factors, creating new opportunities for early intervention. Thus, the heavy burden of infectious diseases is expected to drive the growth of the microplate reader market during the forecast period. Diagnostic tests have a decisive impact on each step of diagnosis, from screening to help prevent certain diseases, early diagnosis at the onset of a disease, and identify the responsible pathogen. The microplate reader market is driven by the growing incidence of infectious diseases and the increasing adoption of the automated platform in diagnostic laboratories. Microplate readers are also used in the drug discovery and research, and pharmaceutical industries for screening applications. Hence, various research organizations are engaged in the research of novel therapeutics, which is further increasing the adoption of advanced analysis tools such as microplate readers.
The Coronavirus outbreak has positively affected the Europe region. Due to the second wave of COVID-19 cases, the government of many countries is working towards scaling up testing capacity, which is driving the growth of the market. Many pharmaceutical companies in the region are actively engaged in the development of COVID-19 vaccine. Many companies are utilizing existing technologies that provide the ability to rapidly upscale production once a potential vaccine candidate is identified. Pharmaceutical companies are prioritizing research and development of COVID-19 related diagnostics, treatments, health technologies and vaccines.
EUROPE MICROPLATE READER MARKET SEGMENTATION
By Type
- Single-Mode Microplate Reader
- Absorbance Plate Readers
- Fluorescence Plate Readers
- Luminescence Plate Readers
- Multi-Mode Microplate Reader
- Filter-Based Readers
- Monochromator-Based Readers
- Hybrid Readers
By Application
- Genomics & Proteomics Research
- Drug Discovery
- Clinical Diagnostics
- Other
By End User
- Pharmaceutical & Biotechnology Companies
- Research & Academic Institutes
- Hospital & Diagnostic Laboratories
By Country
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
Company Profiles
- BioTek Instruments, Inc
- Hercuvan Lab Systems
- Molecular Devices, LLC
- THERMO FISHER SCIENTIFIC INC
- BMG LABTECH
- Promega Corporation
- PerkinElmer Inc.
- BIO-RAD LABORATORIES INC
- Tecan Trading AG
- Lonza
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