Asia-Pacific Microplate Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application, and End User

Asia-Pacific Microplate Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application, and End User

  • May 2021 •
  • 151 pages •
  • Report ID: 6075640 •
  • Format: PDF
The Asia Pacific microplate readers market is expected to reach US$ 152.15 million by 2027 from US$ 110.87 million in 2019; it is estimated to grow at a CAGR of 4.1% from 2020 to 2027. The growth of the market is attributed to the factors such as technological advancements in microplate readers 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.

Microplate readers are also used in the drug discovery and research, and pharmaceutical industries for screening applications.The increase in the incidences of infectious diseases and chronic diseases, such as cancer, fuels the demand for efficient drugs such as cell-based regenerative and personalized medicines.

The rising research activities are expected to increase drug development activities worldwide.Also, pharmaceutical, biopharmaceutical, biotechnology, and life science research industries are growing exponentially worldwide.

Also, 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 Cancer Research UK Cancer Therapeutics Unit is one of the largest academic cancer drug discovery and development groups, which is engaged in new drug discovery and development, from the synthesis of new agents to clinical trial evaluation. Hence, increasing incidence of infectious diseases and technological advancements in microplate readers will boost the market growth.

The Coronavirus outbreak has positively affected the Asia Pacific 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. Thus, above mentioned factors are positively impacting the Asia Pacific microplate reader market growth.

Based on Type, the Asia Pacific microplate readers market is segmented into single-mode microplate readers and multi-mode microplate readers. The single-mode microplate reader segment held a larger share of the market in 2019, whereas the multi-mode microplate readers segment is estimated to register a higher CAGR in the market during the forecast period.

Based on application, Asia Pacific microplate readers market is segmented into genomics & proteomics research, drug discovery, clinical diagnostics, and others. The drug discovery segment held the largest share of the market in 2019, whereas the clinical diagnostics segment is estimated to register the highest CAGR in the market during the forecast period.

Based on end user, the Asia Pacific microplate readers market is segmented into hospital & diagnostic laboratories, biotechnology & pharmaceutical companies, and research & academic institutes. The biotechnology & pharmaceutical companies segment held the largest share of the market in 2019, and the same segment is estimated to register the highest CAGR in the market during the forecast period.

Some of the primary and secondary sources associated with this report on the Asia Pacific microplate readers market are the National Center for Biotechnology Information (NCBI), University of Tokyo Edge Capital (UTEC), and Center for Drug Evaluation and Research (CDER).
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