According to the recent research report titled ‘Global Automated Plate Handlers Market by Product Type (Dedicated Microplate Readers (Single-mode Readers), Multimode Microplate Readers), Application (Drug Discovery, Genomics and Proteomics Research, Clinical Diagnostics), Regional Forecasts 2021-2027’, available with MarketStudyReport, global automated plate handlers market is projected to expand at a CAGR of 10.8% over 2021-2027.
 

Global automated plate handlers market growth is primarily driven by technological advancements, innovative product launches by key players, and rising investments from government agencies and private organizations.
 

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Citing an instance, in November 2020, leading biosciences and diagnostics firm Enzo Biochem Inc. launched a small portable microplate reader for use with its molecular diagnostics and immunoassays, paving the way for new possibilities in point-of-care medicine.
 

Likewise, BioNTech SE reported in April 2020 that the Paul-Ehrlich Institute, a German regulatory authority, approved the company's Phase I/II clinical trial of BNT162 vaccination program to contain the coronavirus. Such developments are expected to significantly add to the industry value in the upcoming years.
 

For the unversed, an automated plate reader is a device that detects biological, chemical, or physical interfaces with the help of light and assesses their properties. When light strikes any element, solid or liquid, it produces various characteristics. The implementation of this innovative laboratory automation solution is based on a process analysis and offers considerable benefits to laboratories. A workflow analysis will provide lab management with a clear, data-driven picture of the lab activities.
 

Speaking of restraints, high cost of microplate systems is likely to stifle market expansion over the study period.
 

Coming to geographical ambit, Europe, North America, Asia Pacific, and Latin America are the areas studied for the regional assessment of overall automated plate handlers market.
 

North America presently accounts for significant market share owing to increasing number of pre-clinical studies, along with surging demand for cost-effective and efficient solutions for analyzing various samples. Moreover, several rules imposed by the U.S. government and the Food and Drug Administration (FDA), rising demand in the diagnostics industry, and growing significance of drug development process are contributing to the regional market expansion.
 

Elaborating on competitive terrain, BMG Labtech GmbH, Eppendorf AG, Berthold Technologies GmbH & Co. KG, Enzo Biochem Inc., PerkinElmer Inc., Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Tecan Group Ltd., Molecular Devices LLC, and BioTek Instruments Inc. are major companies operating in global automated plate handlers market sphere.