Multi-mode Microplate Readers Market - Regional Analysis
North American Market Insights
North America industry is estimated to hold largest revenue share of 30% by 2035, impelled by technical advancements in life science research & development in the region. The growth of the market in this region is due to the region's technical advancements in life science research and development. In FY 2022, R&D Spending at US Universities Increased by USD 8 Billion. Academic institutions spent a total of USD 97.8 billion on research and development in FY 2022, an increase of USD 8.0 billion over FY 2021. Federally financed R&D expenses made up USD 4.9 billion of the overall increase. Furthermore, it is anticipated that the local presence of significant businesses like PerkinElmer, Inc., Danaher Corporation, and Agilent Technologies, Inc. will propel the market in the area. Additionally, the COVID-19 pandemic has led to a rise in the need for ELISA-based tests in the region and increased testing for infectious diseases, all of which have favorably impacted the growth of the North American market.
APAC Market Market Insights
Multi-mode microplate readers market in the Asia Pacific region is attributed to holding the largest market share of about 27% during the forecast period. The market is rising significantly as a result of rising government support for laboratory and research operations, as well as an increase in research and development activities. Moreover, the growth is because of the region's increased interest from contract service providers and the expanding life sciences industry. Biotechnological research has more potential prospects due to the rapid economic development and large investments in R&D activities in rising economies like China and India. This is expected to drive market expansion.
