Life Science and Chemical Instrumentation Market to grow by USD 14.94 billion from 2021 to 2026 | North America to account for 31% of market growth- Technavio

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- The life science and chemical instrumentation market size is expected to grow by USD 14.94 billion from 2021 to 2026. In addition, the momentum of the market will be progressing at a CAGR of 6.35% during the forecast period, according to Technavio Research. The market has been segmented by application (Research and Clinical and diagnostics) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). North America is estimated to account for 31% of the global market growth during the forecast period. The US and Canada are the major markets for the life science and chemical instrumentation market in North America. Market growth in this region will be slower than the growth of the market in Asia. The rising need for drug discovery will facilitate the life science and chemical instrumentation market growth in North America during the forecast period. Read PDF Sample Report

Company Profile:

Agilent Technologies Inc., Becton Dickinson and Co., Bio Rad Laboratories Inc., Bruker Corp., Chai Inc., Danaher Corp., Embi Tec, F. Hoffmann La Roche Ltd., Hitachi Ltd., Illumina Inc., Materion Corp., Metrohm AG, PerkinElmer Inc., Repligen Corp., Sartorius AG, Shimadzu Corp., Thermo Fisher Scientific Inc., Waters Corp., and Merck KGaA

• Agilent Technologies Inc. - The company offers life science and chemical instrumentation services.

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Life Science And Chemical Instrumentation Market: Segmentation Analysis

The market has been segmented by application (Research and Clinical and diagnostics) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). 

• The life science and chemical instrumentation market share growth by the research segment will be significant during the forecast period. Prominent users of life science and chemical instruments span healthcare research agencies, contract research companies, pharmaceutical and biotech firms, clinical and diagnostic laboratories, and university research institutes. In tandem with rising investments in clinical research, expenditures on analytical chemistry equipment are forecasted to exhibit a steady ascent. The realization of these goals hinges on the adept utilization of proficient life science and chemical instruments. Consequently, the global market for such instruments holds promising prospects, poised for significant growth in the forecast period. 

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Life Science And Chemical Instrumentation Market: Driver & Trend:

The increasing investments in life science research are one of the major drivers supporting the life science and chemical instrumentation market growth. For instance, according to a forecast provided by Newmark in January 2021, more than 36 million square feet of new construction will be delivered in the top 14 life science markets in the United States, as life science investments more than treble. Before the onset of the pandemic, California's life sciences sector secured substantial funding of over USD 4.95 billion from the National Institutes of Health (NIH). Notably, the life sciences landscape in the greater Boston region underwent significant expansion, growing from 17 million square feet in 2010 to 27 million square feet in 2020. Presently, Boston is actively engaged in the development of an additional 21 million square feet of life science infrastructure, slated for completion by 2024. These escalating investments directed towards advancing life science research are poised to play a pivotal role in propelling market growth throughout the forecast period.

Technological advances are one of the key life science and chemical instrumentation market trends fueling the market growth. For instance, in 2021, ReturnSafe and BD collaborated to help employers manage COVID-19 testing at home, without a doctor and ensure verifiable results. It is crucial to get the most data out of every experiment, especially when dealing with small sample size. Advanced techniques now enable the simultaneous detection of multiple cell subsets within a single comprehensive panel, streamlining workflows and optimizing data extraction from limited sample volumes. Technological progressions have extended the scope of features assessable in a single cell, leading to the identification of novel cellular subsets and enhanced insights into immune activity, crucial for addressing biological inquiries. These factors in the life science and chemical instrumental market are poised to significantly drive market growth throughout the forecast period.

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What are the key data covered in this life science and chemical instrumentation market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the life science and chemical instrumentation market between 2021 and 2026.
• Precise estimation of the life science and chemical instrumentation market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of life science and chemical instrumentation market vendors.

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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