Microplate Absorbance Reader Market Outlook and Opportunities in Grooming Regions

The recent technological advancements in microplate absorbance reader are likely to boost their demand among end-users. Adoption of LED technology is one such advancement. LEDs in absorbance readers are at least 85% more efficient than traditional halogen lamps. These solid state readers (Absorbance 96) use multiplexed electronic which helps illuminating every well of the microplate. The focus is kept on technological advancements by researchers. For instance, recent developments include:

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Absorbance 96 is a latest development (November 2020) by Enzo Lifesciences to be used in applications including ELSIAs, protein quantification assays, cell based assays, etc. With its weight only 900 grams, absorbance 96 is by far the lightest microplate reader in the market. The product features a USB connection for power supply, quick plate loading and show accurate results.

Drivers and Restraints

Over the past years, increasing focus of research institutes and biotech companies in the healthcare industry are driving the growth. 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. However, the high sophistication of alternatives available hampers the market growth. Moreover, poorly developed research facilities and medical infrastructure in the developing countries are expected to deter the growth over the forecast period. Other factors like high cost associated with the instrument may also restrain the growth of the overall market.

Segmentation

Based on type:

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

Based on end user:

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

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Overview 

The 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. Such reasons are making companies to mainly focus on R&D to attain the maximum market share globally. Microplate absorbance reader measures a wide range of assays like ELISA using colorimetric substrates and protein concentrations. The microplate absorbance reader sector is expected to grow with a double digit CAGR during the forecast period.

Regional Outlook

Geographically, global 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 is expected to contribute maximum shares globally due to the presence of established key players in this region. Essentially, the US occupies the significant 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 is expected to be the most lucrative region 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. The growth in the Middle East & Africa and Latin America regions are significantly low when compared to the developing countries.

Key Players

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

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