Jul 21, 2020 7:00 PM ET
iCrowd Newswire – Jul 21, 2020
The global life science and analytical instruments market is touted to touch USD 56.7 billion at a soaring 6.5% CAGR over the predicted years (2017-2023). The demand for life science instruments is on the rise owing to its extensive use and pivotal role in research, diagnosis and testing. These instruments are used heavily in almost every laboratory including research, healthcare and many commercial testing laboratories. Any form of testing that is performed in analytical chemistry and clinical laboratories will not be possible in the absence of life science instruments. These instruments are also used as analysis of DNA to discover new drugs and identification of food sample safety. Based on the skyrocketing increase in research companies, testing, biomedical and biotechnological laboratories have automatically boosted the demand for the life science and analytical instruments market. These intricate instruments have been specially designed for better and comprehensive patient care providing accuracy, speed and ease of use and also helping researchers in steady, noteworthy progress and advances in healthcare. Such diagnostic instruments have revolutionized accurate diagnosis with regards to target treatment.
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There are many factors that is driving the growth of the life science and analytical instruments market. Some of these factors as per the Market Research Future (MRFR) report include increasing investment on pharmaceutical research and development, advancements in the analytical instrument, increasing food safety concerns, accessibility of investments on life science research, increasing proteomics market, increasing environmental safety concerns, rising need for analytical instruments from different industries, immense growth opportunities for the market players, increasing demand for life science instruments in emerging nations, growing number of biotechnology firms, elevated drug discovery, changing demographics, prevalence of chronic ailments and expanding aging population. On the contrary, factors such as soaring cost of instruments and availability of alternative technologies may hamper the growth of the life science and analytical instruments market.
Life Science & 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 & 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 & Analytical Instruments Market Key Players
Leading players profiled in the life science and analytical instruments market include Merck KGaA (Germany), Avista Pharma Solutions (US), Shimadzu Corporation (Japan), Dynalabs (US), Paragon Bioservices, Inc (US), Bruker Corporation (U.S.), Charles River Laboratories International, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Waters Corporation (U.S.), PerkinElmer, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (U.S), Dickinson and Company (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Becton, Avance Biosciences (US), and others.
Jan 2019- Agilent Technologies Inc. of late has declared the launch of its new facility in Mumbai that is dedicated to develop end-to-end, integrated workflow solutions to support diversified end markets that include food testing, biopharma and pharma.
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