NEW YORK, Aug. 18, 2016 /PRNewswire/ -- The global life science instrumentation market is estimated to grow at a CAGR of 6.8% from 2016 to 2021, to reach USD 64.52 billion by 2021. Factors such as increasing spending on pharmaceutical R&D, growing food safety concerns, availability of public and private funding for life science research, and continuous technological advancements in analytical instruments are fueling the growth of life science instrumentation market. On the other hand, presence of alternative analytical technologies, high cost of instruments, and dearth of skilled professionals are some of the key factors limiting the growth of the global life science instrumentation market.
Based on the type of technology, the spectroscopy technology segment is expected to account for the largest share of the global life science instrumentation market in 2016. The increasing use of spectroscopy instruments in the drug safety process is stimulating the growth of the spectroscopy market. In addition, the increasing use of spectroscopy in combination with other technologies, such as chromatography, in various applications is also driving the growth of this market.
Geographically, North America commands the largest share of the global life science instrumentation market in 2016, followed by Europe. The life science instrumentation market in North America is primarily driven by the stringent drug development regulations; public and private funding for life science research activities; growing number of metabolomics research studies in the U.S.; and a significant number of conferences, symposia, and seminars held in this region related to analytical technologies.
The global life science instrumentation market is highly competitive, with a large number of global and local players. As of 2016, the global life science instrumentation market was dominated by Agilent Technologies, Inc. (U.S.), Danaher Corporation (U.S.), PerkinElmer, Inc. (U.S.), Shimadzu Corporation (Japan), and Thermo Fisher Scientific, Inc. (U.S.). Product launches, enhancements, and showcases; and partnerships, agreements, and collaborations are the major strategies adopted by market players to achieve growth in the life science instrumentation market.
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From an insights perspective, this research report has focused on various levels of analysis —industry trends, market share analysis of top ten players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging and high-growth segments of the life science instrumentation market, high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering a greater market share. Firms purchasing the report could use any one or combination of the below mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on product portfolios and services offered by the major players in the life science instrumentation market. The report analyzes the life science instrumentation market based on the type of technology, application, and end user, across geographies
- Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and new product launches in the life science instrumentation market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various life science instrumentation systems across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the life science instrumentation market
- Competitive Assessment: In-depth assessment of market shares, strategies, products and services, distribution networks, and manufacturing capabilities of leading players in the life science instrumentation market
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