Multi-mode Microplate Readers Market Segmentation:
Application Segment Analysis
Based on application, drug discovery segment is expected to hold of 40% share of the global multi-mode microplate readers market during the forecast period 2026-2035 This is explained by the wide range of uses for microplate reading instruments in the drug-discovery process. These tools, for example, are employed in cell-based assays to automatically identify and analyze several labeled and label-free components. Similarly, by reading multiple wells at once, microplate readers have high throughput capabilities. With the use of automated robotic microplate stackers, throughput can be further improved. Advanced readers' use is becoming easier thanks to these technological advancements, which are also encouraging their use in drug discovery applications. Compared to the preceding ten years, the number of new pharmaceuticals licensed for sale climbed by 60% between 2010 and 2019, reaching a peak of 59 new drugs approved in 2018.
End Users Segment Analysis
Based on end users, pharmaceutical & biotechnology companies are estimated to hold the largest market share of about 35% during the forecast period. The growth of the segment is because of the biopharmaceuticals' strong commercial success and the rapidly increasing need for CRO services. The pharmaceutical business has experienced a notable surge in funding, which has in turn stimulated drug screening efforts aimed at discovering new treatments. The need for microplate readers is anticipated to increase throughout the forecast period since they are a crucial component of workflows for target identification, validation, and drug screening.
Our in-depth analysis of the global market includes the following segments:
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