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 6.5% CAGR over the forecast period from 2017 to 2023, 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 2017 to 2023 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.
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Competitive Analysis:
Leading players in the global life science and analytical instruments market include Merck KGaA, Dynalabs, Avista Pharma Solutions, Paragon Bioservices Inc., Avance Biosciences, Charles River Laboratories International Inc., Waters Corporation, Shimadzu Corporation, PerkinElmer Inc., Danaher Corporation, Bruker Corporation, Bio-Rad Laboratories Inc., F. Hoffman-La Roche Ltd., Agilent Technologies Inc., Thermo Fisher Scientific Inc., and Becton Dickinson and Company.
In October 2019, Bruker Corporation announced the acquisition of Magnettech’s EPR business.
Segmentation:
The global life science and analytical instruments market is segmented on the basis of instrument type, end use, application, and region.
By instrument type, the global life science and analytical instruments market is segmented into centrifuges, chromatography, electrophoresis, flow cytometry, microscopy, cell counting instruments, PCR, spectroscopy, Western blotting, and others. The centrifuges segment is further subdivided into laboratory centrifuges, analytical ultracentrifuges, gas centrifuges, and others. The chromatography segment is further sub-segmented into thin-layer chromatography, liquid chromatography, gas chromatography, HPTLC, and others. The electrophoresis segment is further subdivided into conventional and capillary electrophoresis. Microscopy is further sub-segmented into scanning electron microscopes, transmission electron microscopes, and others. The spectroscopy segment is further sub-segmented into mass spectroscopy, UV spectroscopy, atomic spectroscopy, and others.
By end use, the global life science and analytical instruments market is segmented into agriculture and food industry, pharmaceutical and biotechnology companies, research and clinical testing laboratories, and others.
By application, the global life science and analytical instruments market is segmented into research, diagnostic, and others.
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Regional Analysis:
North America is the leading regional life science and analytical instruments market, followed by Europe. The growing presence of drug discovery operations in North America has driven the demand for life science and analytical instruments in recent years. The increasing number of research studies in the healthcare sector is also likely to be a major driver for the life science and analytical instruments market in North America over the forecast period.
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