Life Science & Analytical Instruments Market Dynamic Outlook and Influencing Key Growth
As per the new report furnished by Market Research Future
(MRFR), the global life
science and analytical instruments market, in 2016, was worth the value of
USD 36.5 billion and will be attaining the valuation of USD 56.7 billion by the
end of 2023. Furthermore, the market will be soaring high at a CAGR of 6.5 %
during the forecast period (2017-2023).
Key Vendors
The key vendors competing in the global life science and
analytical instrumentation market are Avance Biosciences (US), Becton, Thermo
Fisher Scientific, Inc. (U.S.), Agilent
Technologies, Inc. (U.S.), Dickinson and Company (U.S.), Danaher Corporation
(U.S), F. Hoffmann-La Roche Ltd. (Switzerland), PerkinElmer, Inc. (U.S.),
Waters Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Charles River
Laboratories International, Inc. (U.S.), Bruker Corporation (U.S.), Paragon
Bioservices, Inc (US), Dynalabs (US) Shimadzu Corporation (Japan), Avista
Pharma Solutions(US), Merck KGaA (Germany) among others.
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Market Drivers and Challenges
The past couple of years have been quite eventful for
instrument companies, characterized by major mergers and acquisitions, new
product launches, partnerships, as well as other business developments. With
growing government spending on pharmaceutical research and development
(R&D) activities in emerging economies, technological advancements,
elevated drug discovery and clinical diagnostics field, increasing life science
research and development expenditure, and emergence of various applications,
the market will most definitely garner massive revenue during the review
period.
Moreover, expanding aging populations, in addition to the
increasing prevalence of chronic diseases, and changing demographics and also
several industry participants reporting record sales have also been responsible
for the strong growth of the market. Developing nations like India, China, and
Brazil are showing highly lucrative market expansion. In contrast, the
availability of alternative technologies and high cost of instruments could
hinder the growth of the market to some extent.
However, the ever-growing list of drivers such as the
increasing number of biotechnology firms globally, advances in life science
research and technology innovations involving human genome mapping, and
emergence of proteomics have resulted in the industry growth. These factors
have led to high-end research projects which need quality instruments with high
throughput capacity, thus elevating the market position of life Science and
analytical instrumentation.
Market Segmentation
The market for life science and analytical instruments is
segmented on the basis of type, end-user and application.
The type-wise segmentation has been done on the basis of
Centrifuges (Laboratory centrifuges, Analytical ultracentrifuges, Gas
centrifuges and Other), Chromatography (Thin-layer Chromatography (TLC), Liquid
Chromatography, Gas Chromatography, HPTLC and Other), Electrophoresis
(Conventional Electrophoresis [One Dimensional and two dimensional) and
Capillary Electrophoresis), Flow Cytometry, Microscopy (Scanning electron
microscope, Transmission electron microscope and Other), Cell Counting
instruments (Hemocytometers and Other), PCR, Spectroscopy (Mass Spectroscopy,
UV spectroscopy, Atomic spectroscopy and Other), Western Blotting, Other
(Sterilization instruments, Incubators, Colorimeters, Freezers, Laboratories
balances, other).
The end-users in the global market include Pharmaceutical
and Biotechnology Companies, Agriculture and Food Industry, Research and
Clinical Testing Laboratories and Other.
Application-wise, the market caters to research
applications, diagnostic applications and others.
Regional Outlook
Region-wise, the global life science and analytical
instruments market is distributed into Asia Pacific, Europe, North America, and
the Rest-of-the-World.
The North America region witnesses a vast development in
drug discovery research, along with an increasing number of research studies,
and expansion of industrial sector, leading to its leading position in the
global life science & analytical instruments market. In addition, other
factors such as the presence of well-known players alongside the growing focus
in the field of research for the life science products propel the market growth
in the region. furthermore, the rapid pace of advancements in technologies in
the region provide the region an edge over other regions. The United States
(US) backed by massive investments in the life science & analytical
instruments will lead the regional market in the coming years.
The Europe region has acquired the second position in the
global life science & analytical instruments market, as a result of the
accelerated demand for the life science products. This demand comes
predominately from the expanding pharmaceutical sector in the region,
catapulting the growth of the life science & analytical instruments market
in the region.
The Asia Pacific region witness major growth in the market
with the high uptake of advanced technology. Moreover, the market provides
several growth opportunities with the increasing clinical research along with
growing government support. Apart from this, the increasing number of testing
laboratories and developing agricultural industries are supporting the growth
of the regional market as well.
Latest Developments
January 24, 2019 --- Agilent Technologies Inc. (the US), a
public research, development, and manufacturing company announced its expansion
in the financial capital of India – Mumbai by inaugurating its third Centre of
Excellence (CoE). The state-of-the-art laboratory is equipped with Agilent’s
new products, chemistries, and software, providing a wide range of application
support to life science and applied markets.
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Contact:
Akash Anand
Market Research Future
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