South and Central America Microplate Reader Market

Market Introduction

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.

South and Central America Microplate Reader Strategic Insights

Strategic insights for the South and Central America Microplate Reader provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South and Central America Microplate Reader Report Scope

South and Central America Microplate Reader Regional Insights

The geographic scope of the South and Central America Microplate Reader refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The South and Central America microplate readers market is expected to reach US$ 33.74 million by 2027 from US$ 27.19 million in 2019; it is estimated to grow with a CAGR of 2.8% from 2020 to 2027. The growth of the 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.

Pharmaceutical R&D is gaining attraction worldwide owing to the rising focus on drug discovery. The US biopharmaceutical industry has been the world leader in the development of new therapeutics. As per the Pharmaceutical Research and Manufacturers of America (PhRMA), the biopharmaceutical industry invested US$83 billion in R&D in 2019. The increasing demand for new approaches in drug discovery is bolstering the growth of microplate readers. Various companies are developing microplate readers for the drug discovery process to make the research process easier and faster. Moreover, pharmaceutical companies are investing heavily in the drug discovery, gene sequencing, and development of targeted protein to meet the growing demand of the healthcare sector. Further, the development of personalized medicine is leading to increasing demand for genetic studies, which, in turn is likely to contribute to the growth of the microplate reader market.

The Coronavirus outbreak has negatively affected the South and Central America region. At present, the majority of the diagnostic laboratories and research institutes are engaged in diagnosing the COVID-19 patients. Also, the COVID-19 diagnostic testing industry is witnessing upsurge on account of a growing number of cases coupled with the increasing emergency use authorizations from the regulatory bodies. In addition, several diagnostic companies are engaged in the development of COVID-19 point-of-care rapid diagnostics tests having higher sensitivity and low turn-around time, which is restricting the South and Central America microplate reader market.

Key Market Segments

Based on Type, the South and Central America 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, South and Central America 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 South and Central America 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.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the South and Central America microplate readers market are the Centers for Disease Control and Prevention (CDC), National Health Service (NHS) and Pharmaceutical Research and Manufacturers of America (PhRMA).

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SOUTH AND CENTRAL AMERICA MICROPLATE READERS 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

• Brazil
• Argentina
• Rest of South and Central America

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