The single-mode microplate reader segment by type is estimated to lead the market growth during the forecast period.

According to a new market research study of “Europe Microplate Reader Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, Application, End User and Country.” 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 report highlights trends prevailing in the Europe microplate reader market and the factors driving market along with those that act as hindrances.

Based on Type, the Europe microplate readers market is segmented into single-mode microplate readers and multi-mode microplate readers. The single-mode microplate reader segment held the largest share of the market in 2019, however, the multi-mode microplate readers segment is estimated to register the highest CAGR in the market during the forecast period. 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.

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.

The growth of the Europe microplate readers market is attributed to some key driving factors such as increasing research and development in the pharmaceutical industry and rising development of personalized medicine leading to demand for genetic studies. However, high cost of advanced microplate reader is the major factor hindering the market growth.

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, and Lonza are among the leading companies operating in the Europe microplate readers market.

The report segments in Europe Microplate Reader Market as follows:

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