Automated Plate Readers Market to Grow at a CAGR of 10.8% - Global Growth, Trends, and Forecasts 2019-2024 - ResearchAndMarkets.com

DUBLIN--()--The "Automated Plate Readers Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.

The automated plate readers market is expected to grow at a CAGR of 10.8%, over the forecast period 2019-2024.

The trend in the adoption of IoT in labs will drive the market in the forecast period.

  • The operational and strategic needs of labs are continually changing, evolving, and expanding. The adoption of a new laboratory automation solution utilizes a workflow analysis and offers benefits to laboratories to a large extent. A workflow study will provide lab leaders with a transparent and data-driven picture of what the laboratory is doing right now.
  • This is where comes the role of automated plate readers which are plate readers for quantifying protein and other activities, via a specific light source connected through an optical filter, for analyzing the sample. Fluorescence detection is developed for detecting microplate. It is more expensive than absorbance detection. In the pattern for fluorescence detection, the sample undergoes illumination through two optical systems.
  • As the demand for testing and more test types, coupled with efficient usage of advanced diagnostic devices, and increasing automation increases, the laboratory equipment for laboratory automation is rising to meet the needs.
  • The need for flexibility and adaptability in a laboratory is driving more number of laboratories to look for solutions that will help in growing their panel selections in diagnostic systems, along with the ability to offer flexibility to third-party providers.
  • The major challenge for automated plate readers is to interconnect various platforms across the lab.

Scope of the Report

An automated plate reader is a device to detect chemical, biological, or physical reactions by hitting them with light and then measuring its characteristics since every element solid or liquid emits different characteristics when being hit by the light. By this technology, scientists have increased their efficiency by reducing the operational time, they can read the sample in minutes or even in seconds, which saves them costs too.

Key Market Trends

Bio-analysis Application is Growing Exponentially

  • The use of technology to streamline or substitute manual intervention of equipment and processes is known as lab automation. Technological innovations leading to device miniaturization and increased throughput, demand for replicable and accurate solutions to aid diagnostics/clinical research, and the need for efficient testing processes to off-set lack of highly skilled laboratory professionals, are the factors fuelling the growth in bioanalysis.
  • Thermo Fisher Scientific's Varioskan LUX multimode microplate reader can simplify the measurement with the automatic dynamic range selection, and its smart safety controls are workflow and help to avoid the experimental errors by its flexible range of measurement technologies including Absorbance, Fluorescence, Intensity, Luminescence, AlphaScreen, and Time-resolved Fluorescence.
  • This segment is expected to grow with the highest annual growth rate during the forecast period. This is due to the snowballing investments and R&D activities in biotechnology, physical, engineering, and life sciences for applications in drug discovery, which will propel the need for automated plate readers.

North America to Account for Significant Market Share

  • The market landscape in North America is extremely dynamic, with a high level of merger and acquisition activities and many high-value deals. The United States is a major contributor in this region.
  • Asia-Pacific and Latin America are the emerging regions and are expected to grow at an exponential rate, owing to factors like a considerable increase in outsourcing pharmaceutical manufacturing, due to the availability of cheaper resources and labors.
  • Stringent regulations for the classification of devices imposed by the US government and the FDA, to assure safety and effectiveness, along with the growing demand in the market, is also expected to drive the market for automated plate readers.

Competitive Landscape

The major players include Thermo Fisher Scientific, Tecan Group Ltd, Eppendorf AG, Bio-Rad, Siemens Healthcare, Bio-Tec, Shimadzu Corp., PerkinElmer, and Danaher Corporation, among others. The market is fragmented because there is a major competition going on between the major players in terms of R&D.

April 2018 - Agilent Technologies Inc. and BioTek Instruments, Inc., launched a new, integrated solution that combines cellular metabolic analysis and imaging technologies. The optimized solution integrates the Agilent Seahorse XFe96/XFe24 Analyzers with the BioTek Cytation 1 Cell Imaging Multi-Mode Reader. This solution creates a standardized approach for comparing XF data sets, improving assay workflow, embedding images into WAVE software, and applying normalization values to Seahorse XF measurements.

Key Topics Covered:

1 INTRODUCTION

1.1 Study Deliverables

1.2 Study Assumptions

1.3 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Introduction to Market Drivers and Restraints

4.3 Market Drivers

4.3.1 Digital Transformation for labs with IoT

4.3.2 Development of Smaller Automated Machines

4.4 Market Restraints

4.4.1 Interconnecting Various Platforms Across the Lab

4.5 Industry Value Chain Analysis

4.6 Industry Attractiveness - Porter's Five Force Analysis

4.6.1 Threat of New Entrants

4.6.2 Bargaining Power of Buyers/Consumers

4.6.3 Bargaining Power of Suppliers

4.6.4 Threat of Substitute Products

4.6.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION

5.1 By Type

5.1.1 Absorbance

5.1.2 Fluorescence

5.1.3 Luminescence

5.1.4 Time-resolved Fluorescence

5.1.5 Fluorescence Polarization

5.1.6 Light Scattering

5.2 By Application

5.2.1 Drug Discovery

5.2.2 Genomics

5.2.3 Proteomics

5.2.4 Bio Analysis

5.2.5 Analytical Chemistry

5.2.6 Clinical Diagnostics

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Rest of the World

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

6.1.1 Thermo Fisher Scientific

6.1.2 Eppendorf AG

6.1.3 Bio-Rad Company

6.1.4 BioTek Company

6.1.5 Siemens Healthcare

6.1.6 Tecan Group Ltd

6.1.7 Agilent Technologies

6.1.8 PerkinElmer

6.1.9 Hudson Robotics

6.1.10 Danaher Corporation

6.1.11 Becton Dickinson

6.1.12 Shimadzu Corp.

7 INVESTMENT ANALYSIS

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

Companies Mentioned

  • Thermo Fisher Scientific
  • Eppendorf AG
  • Bio-Rad Company
  • BioTek Company
  • Siemens Healthcare
  • Tecan Group Ltd
  • Agilent Technologies
  • PerkinElmer
  • Hudson Robotics
  • Danaher Corporation
  • Becton Dickinson
  • Shimadzu Corp.

For more information about this report visit https://www.researchandmarkets.com/r/ol1a9z

Contacts

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Related Topics: Laboratory Equipment

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Laboratory Equipment