Press release
Life Science Instrumentation Market Size and Forecast | Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US)
Life Science Instrumentation Market in terms of revenue was estimated to be worth $54.9 billion in 2023 and is poised to reach $73.9 billion by 2028, growing at a CAGR of 6.1% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of this market include growing food safety concerns, rising investments in pharmaceutical R&D, increasing public-private investments, and lucrative opportunities in emerging markets.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=38&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Browse in-depth TOC on "Life Science Instrumentation Market"
248 - Tables
46 - Figures
413 - Pages
Spectroscopy segment to register significant growth rate over the forecast period of 2023-2028
Based on the technology, the global life science instrumentation market is segmented into spectroscopy chromatography, Polymerase Chain Reaction (PCR), immunoassays, lyophilization, liquid handling systems, clinical chemistry analyzers, microscopy, flow cytometry, Next-Generation Sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The NGS segment is anticipated to register the highest growth rate over the forecast period. The spectroscopy segment accounted for the highest share of the life science instrumentation market in 2022.
Research applications segment accounted for the largest share of the life science instrumentation market, by application in 2022.
Based on application, the global life science instrumentation market is segmented into research applications, clinical & diagnostic applications, and other applications. Research applications accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.
Factors such as the rising incidence of infectious diseases, the growing use of novel analytical techniques, and the launch of advanced instruments drive the growth of life science instruments.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the life science instrumentation market, by end user, in 2022
Based on end user, the global life science instrumentation market is segmented into hospitals and diagnostic laboratories, pharmaceutical & biotechnology companies, academic & research institutes, agriculture & food industries, environmental testing laboratories, clinical research organizations, and other end users. The pharmaceutical & biotechnology companies segment accounted for the largest share of the market in 2022. Factors such as rising healthcare expenditure and consistent increases in the adoption of advanced instruments by different end users are driving the growth of this segment.
The Asia Pacific market to register the highest growth in the market during the forecast period
The Asia Pacific life science instrumentation market is anticipated to register the highest growth from 2023 to 2028. Major players in the market are focusing on expanding their manufacturing capabilities in the APAC. This region is consistently witnessing a rise in the adoption of analytical instruments, offering significant growth opportunities for the key players.
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Life Science Instrumentation Market Dynamics:
Drivers:
Increasing investments in pharmaceutical R&D
Growing food safety concerns
Increasing public-private investments in life science research
Rising incidence of target infectious diseases and genetic disorders
Advancements in NGS platforms
Declining costs of genome sequencing
Growing use of capillary electrophoresis with mass spectroscopy
Growing adoption of flow cytometry techniques in research and academia
Rising incidence of hospital-acquired infections
Increasing outsourcing of sterilization services
Restraints:
High cost of instruments
Dearth of skilled professionals
Technical limitations associated with qPCR and dPCR techniques
High cost of advanced microscopes
Opportunities:
Growth opportunities in emerging countries
Growing demand for analytical instruments and focus of key market players on emerging countries
Growth of the pharmaceutical and biotechnology industries
2. Application of NGS in precision medicine and molecular diagnostics
3. Widening application scope of analytical instruments
4. Increased demand for personalized medicine
Challenges:
Inadequate infrastructure for research in emerging countries
Ethical issues regarding the privacy of generated data from instrument software
Pricing pressure faced by prominent players in emerging markets
Key Market Players:
As of 2022, prominent players in the life science instrumentation market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), and Shimadzu Corporation (Japan)
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=38&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Recent Developments:
In 2023, Thermo Fisher Scientific introduced a new trace elemental analyzer. The Thermo Scientific iCAP RQplus ICP-MS Analyzer can be used in the pharmaceutical, food, and environmental sectors. It can be used for different sample types and trace elements at low concentrations.
In 2021, AB SCIEX (a subsidiary of Danaher Corporation) launched a new capillary electrophoresis solution, the BioPhase 8800 system.
It can process eight samples simultaneously and delivers consistent and accurate results
In 2022, Agilent Technologies, Inc. launched GC/MS and LC/MS quadrupole mass spectrometers. These products simplify lab operations and address the key challenges faced by customers.
In 2023, Waters Corporation announced the release of the Alliance iS HPLC System. This system is easy to use, eliminates common errors and makes precise measurements.
In 2023, Shimadzu Corporation launched a Nexera UC. It is a superficial fluid extraction/chromatograph system with higher detection capabilities and improved separation.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/life-science-chemical-biotech-instrumentation-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/life-science-chemical.asp
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=38&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Browse in-depth TOC on "Life Science Instrumentation Market"
248 - Tables
46 - Figures
413 - Pages
Spectroscopy segment to register significant growth rate over the forecast period of 2023-2028
Based on the technology, the global life science instrumentation market is segmented into spectroscopy chromatography, Polymerase Chain Reaction (PCR), immunoassays, lyophilization, liquid handling systems, clinical chemistry analyzers, microscopy, flow cytometry, Next-Generation Sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The NGS segment is anticipated to register the highest growth rate over the forecast period. The spectroscopy segment accounted for the highest share of the life science instrumentation market in 2022.
Research applications segment accounted for the largest share of the life science instrumentation market, by application in 2022.
Based on application, the global life science instrumentation market is segmented into research applications, clinical & diagnostic applications, and other applications. Research applications accounted for the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period.
Factors such as the rising incidence of infectious diseases, the growing use of novel analytical techniques, and the launch of advanced instruments drive the growth of life science instruments.
The pharmaceutical & biotechnology companies segment accounted for the largest share of the life science instrumentation market, by end user, in 2022
Based on end user, the global life science instrumentation market is segmented into hospitals and diagnostic laboratories, pharmaceutical & biotechnology companies, academic & research institutes, agriculture & food industries, environmental testing laboratories, clinical research organizations, and other end users. The pharmaceutical & biotechnology companies segment accounted for the largest share of the market in 2022. Factors such as rising healthcare expenditure and consistent increases in the adoption of advanced instruments by different end users are driving the growth of this segment.
The Asia Pacific market to register the highest growth in the market during the forecast period
The Asia Pacific life science instrumentation market is anticipated to register the highest growth from 2023 to 2028. Major players in the market are focusing on expanding their manufacturing capabilities in the APAC. This region is consistently witnessing a rise in the adoption of analytical instruments, offering significant growth opportunities for the key players.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=38&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Life Science Instrumentation Market Dynamics:
Drivers:
Increasing investments in pharmaceutical R&D
Growing food safety concerns
Increasing public-private investments in life science research
Rising incidence of target infectious diseases and genetic disorders
Advancements in NGS platforms
Declining costs of genome sequencing
Growing use of capillary electrophoresis with mass spectroscopy
Growing adoption of flow cytometry techniques in research and academia
Rising incidence of hospital-acquired infections
Increasing outsourcing of sterilization services
Restraints:
High cost of instruments
Dearth of skilled professionals
Technical limitations associated with qPCR and dPCR techniques
High cost of advanced microscopes
Opportunities:
Growth opportunities in emerging countries
Growing demand for analytical instruments and focus of key market players on emerging countries
Growth of the pharmaceutical and biotechnology industries
2. Application of NGS in precision medicine and molecular diagnostics
3. Widening application scope of analytical instruments
4. Increased demand for personalized medicine
Challenges:
Inadequate infrastructure for research in emerging countries
Ethical issues regarding the privacy of generated data from instrument software
Pricing pressure faced by prominent players in emerging markets
Key Market Players:
As of 2022, prominent players in the life science instrumentation market are Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc. (US), Waters Corporation (US), and Shimadzu Corporation (Japan)
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=38&utm_source=OPenpr&utm_campaign=Paid&utm_content=Referral
Recent Developments:
In 2023, Thermo Fisher Scientific introduced a new trace elemental analyzer. The Thermo Scientific iCAP RQplus ICP-MS Analyzer can be used in the pharmaceutical, food, and environmental sectors. It can be used for different sample types and trace elements at low concentrations.
In 2021, AB SCIEX (a subsidiary of Danaher Corporation) launched a new capillary electrophoresis solution, the BioPhase 8800 system.
It can process eight samples simultaneously and delivers consistent and accurate results
In 2022, Agilent Technologies, Inc. launched GC/MS and LC/MS quadrupole mass spectrometers. These products simplify lab operations and address the key challenges faced by customers.
In 2023, Waters Corporation announced the release of the Alliance iS HPLC System. This system is easy to use, eliminates common errors and makes precise measurements.
In 2023, Shimadzu Corporation launched a Nexera UC. It is a superficial fluid extraction/chromatograph system with higher detection capabilities and improved separation.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/life-science-chemical-biotech-instrumentation-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/life-science-chemical.asp
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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