Life Sciences and Analytical Instruments Market Value

New York, U.S., Sept. 01, 2022 (GLOBE NEWSWIRE) — Life Sciences and Analytical Instruments Market Overview:

According to a comprehensive research report by Market Research Future (MRFR), “Life Sciences and Analytical Instruments Market Information by Type, Application End User and Region – Forecast to 2030the market is expected to reach $130.47 billion by 2030, growing at a CAGR of 7% over the forecast period.

Market scope:

The broad category of life sciences and analytical instruments are used in pharmaceutical, chemical, oil refinery, clinical and food processing laboratories for analytical purposes. These tools facilitate the determination and analysis of the composition of materials.

Life science and analytical equipment is used in a variety of industries, including laboratories, hospitals, clinics, and biotechnology and pharmaceutical companies. It is used to evaluate and establish the grade of finished products and raw materials. On the other hand, it is widely used in hospitals to accurately detect diseases through the analysis of medical samples.

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Report Scope:

Report attribute Details
Market size 2030 $130.47 billion
CAGR seven%
base year 2021
Forecast period 2022-2030
Historical data 2020
Forecast units Value (USD billion)
Report cover Revenue forecasts, competitive landscape, growth factors and trends
Segments Covered By type, application and end user
Geographical areas covered North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers Growing demand for food safety and quality, rapid growth of proteomics market
Rapid Growth of New Life Science Instrument Companies in Healthcare

Life Sciences and Analytical Instruments Market Competitive Analysis:

The major market players or manufacturers of life science instruments are employing various tactics to expand their business and increase their profit. To strengthen their position in the analytical instruments and life sciences market, they employ tactics such as acquisition, joint ventures, collaboration, mergers, and new product introductions. Some of the major market players are:

  • PerkinElmer, Inc. (USA)
  • General Electric Company (USA)
  • Danher (USA)
  • Thermo Fisher Scientific (USA)
  • Agilent Technologies, Inc. (USA)
  • Qiagen (Germany)
  • Shimadzu Corporation (Japan)
  • Becton, Dickinson and Company (USA)
  • Merck KGAA (Germany)

Life Science and Analytical Instruments Market Dynamics:

Market factors:

The major drivers for the expansion of the market are the increasing use of analytical instruments in the life sciences and the rapid establishment of new healthcare instrument companies. The market for life sciences and analytical instruments is expected to grow as the development and expansion of research and development will continue to increase. Analytical instruments are in high demand across a wide range of industries, driven in part by growing consumer demand for safe, good quality foods, as well as the rapid growth of the proteomics industry.

Another factor driving the market is government support for R&D through the provision of financial incentives to companies to improve their analytical instrumentation. The life sciences and analytical instrumentation market is supported by these factors.

Market limits

The development of the life science and analytical equipment industry is expected to be hampered by rising instrument costs, a lack of public health awareness and the accessibility of other potential alternatives.

COVID-19 Analysis of Life Sciences and Analytical Instruments Market:

The Analytical Instruments and Life Sciences market has been hit hard by the COVID-19 outbreak. Creating the equipment needed for market expansion has been hampered by the temporary closure of manufacturing companies and growing virus-related anxiety. The devastating impact of COVID-19 on people with chronic conditions like cancer and diabetes has further increased the demand for these technologies.

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Life Sciences and Analytical Instruments Market Segmentation:

By type

Due to the advantages of NGS technologies in DNA sequencing, which significantly increase throughput and reduce the need for fragment cloning techniques, the next-generation sequencing (NGS) segment is expected to grow at a notable CAGR over of the projected period. Additionally, the life science instrument market is expected to rise over the projected period owing to ongoing technical developments and increasing accessibility of less expensive sequencing platforms.

By app

In 2019, the life science instrumentation application market was dominated by the research application segment. An increasing number of research studies as well as increasing public-private funding in the field of genomic research, as well as the continuing trend of laboratory automation and the integration of robots, are all contributing factors to the large market share of the search application segment.

Per end user

During the study period, the segment of pharmaceutical and biotechnology companies is expected to experience significant expansion.

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Regional Analysis of Life Sciences and Analytical Instruments Market:

America is expected to hold the largest market share for laboratory analysis instruments globally. The huge expansion in this field can be attributed to the increase in chronic diseases like cancer and other lifestyle diseases. The rise of the life science and analytical instrument industries in the United States is also fueled by the country’s aging population and technological advancements in diagnostic systems. The mapping of the human genome, the increase in the number of biotechnology companies worldwide, and the emergence of proteomics have all contributed to the growth of the industry. The life sciences and analytical instrumentation markets have been supported by high-end research initiatives that require reliable instruments with high throughput capability.

Europe is expected to have the second largest proportion of scientific instrument sales throughout the projection period. The explosive growth of the European analytical equipment market can be attributed to the booming pharmaceutical and biotech sectors in countries like the UK and Germany. Increased public awareness, clinical trials, and the influence of academic and research organizations are driving the European laboratory analytical tools market.

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The life sciences and analytical instruments sectors are expected to grow rapidly in the Asia-Pacific region. Due to an increase in chronic diseases such as cancer, diabetes, and HIV, the industry is expected to grow in the future. Expanding infrastructure and increasing research organizations mean that the laboratory analysis equipment market will reach new heights.

Life science instruments will continue to grow across Africa and the Middle East as a whole. Saudi Arabia, UAE, Egypt and other Middle Eastern countries are expected to dominate the regional market in the coming years.

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