Life Science and Analytical Instruments Market Overview
The global life science and analytical instruments market was valued at USD 36.5 billion in 2016, according to the latest research report from Market Research Future (MRFR). Growing at a robust 7% CAGR over the forecast period from 2020 to 2030, the market is expected to rise to a valuation of USD 56.7 billion, according to the MRFR study. The report presents a clear profile of the market, including competitive dynamics, major drivers, restraints, and other economic factors having a key impact on the market, and the leading players operating in the market. Key events in the market’s history over the review period are also analyzed in the report to provide readers with some background. A detailed projection for the market’s growth trajectory over the forecast period from 2020 to 2027 is presented in the report.
The Life Science and Analytical Instruments Market is mainly driven by the growth of the life sciences sector in recent years. Growth of the healthcare sector and the increasing government investment in drug development and research have been the major drivers for the life sciences sector in recent years. With the growing scope of the life sciences sector, the demand for life science instrumentation has grown rapidly over the last few years. Increasing prevalence of cancer, infectious diseases, and lifestyle diseases such as diabetes and hypertension has led to a growing demand from the life sciences sector, as the need for effective medication against these and other diseases has grown.
Increasing demand for life science and analytical instruments in genetic studies and research in biotechnology processes is likely to be a major driver for the global life science and analytical instruments market over the forecast period. The biotechnology sector is likely to be a major part of the life sciences sector in the coming years due to the growing demand for recombinant DNA technology, among others, in drug development and research. This is likely to be a key driver for the global life science and analytical instruments market over the forecast period.
Life Science and Analytical Instruments Market Segmentation
Market Research Future report offers an all-inclusive segmental analysis of the life science and analytical instruments market on the basis of type, end-user and application.
Based on type, it is segmented into Western Blotting, Spectroscopy (Atomic Spectroscopy, UV Spectroscopy, Mass Spectroscopy and others), PCR, Cell Counting Instruments (Hemocytometers and others), Microscopy (Transmission Electron Microscope, Scanning Electron Microscope and others), Flow Cytometry, Electrophoresis (Capillary Electrophoresis, Conventional Electrophoresis including one and two dimensional and others), Chromatography (HPTLC, Gas Chromatography, Liquid Chromatography, Thin-layer Chromatography and others), Centrifuges (Gas Centrifuges, Analytical Ultracentrifuges, Laboratory Centrifuges and others) and others (Laboratories Balances, Freezers, Colorimeters, Incubators, Sterilization Instruments and others). Of these, spectroscopy will have the largest market share followed by chromatography (gas and liquid). The key factor that has fueled the growth of the spectroscopy segment include its widespread application in various industries including industrial chemistry, environmental testing, food and agriculture, biopharmaceutical and pharmaceutical.
Based on end-users, the life science and analytical instruments market has been segmented into research and clinical testing laboratories, agriculture and food industry, pharmaceutical and biotechnology companies and others. Of these, pharmaceutical and biotechnology companies will lead the market over the predicted years.
Based on application, it is segmented into diagnostic applications, research applications and others. Of these, the research applications will expand at the fastest CAGR.
Life Science and Analytical Instruments Market Regional Analysis
Based on region, the life science and analytical instruments market covers growth opportunities and latest trends across Asia Pacific, Europe, North America and Rest of the World. Of these, North America will lead the life science and analytical instruments market owing to higher drug discovery research, growing research studies, expansion of the industrial sector, existence of key players, increasing focus in life science product research and rapid technological advancements. The US will be the largest contributor in this region. Europe grabs the second position owing to growing need for life science products. The life science and analytical instruments market in the APAC region will experience a major growth owing to high uptake of technological advancement, growing government support, increasing growth opportunities with increasing clinical research, developing agricultural industries and rising number of testing laboratories.
Life Science and Analytical Instruments Market Players
- PerkinElmer Inc. (the U.S.)
- General Electric Company (U.S.)
- Danaher (U.S.)
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies Inc. (U.S.)
- Qiagen (Germany)
- Shimadzu Corporation (Japan)
- Becton Dickinson and Company (U.S.)
- Merck KGAA (Germany)
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