Sequencing Technology Leads Market Growth, Anticipated to Register Highest CAGR in Life Science Equipment Sector

DUBLIN, Nov. 8, 2023 /PRNewswire/ -- The "Life Science Equipment Market by Technology, End User - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The global life science equipment market is on a growth trajectory and is expected to reach a valuation of $92.21 billion by 2030, with a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030.

Several key factors are contributing to this growth, including advancements in genomics and proteomics, the rising awareness and adoption of personalized medicines, increased automation and digitalization within the life sciences industry, and a growing emphasis on food safety and quality. These factors are creating significant growth opportunities for market players.

While the market outlook is promising, it is not without challenges. The shortage of skilled professionals capable of operating advanced laboratory equipment and concerns about data security are significant hurdles for industry stakeholders.

Key Highlights from the Report:

1. Sequencing Technology Leads: In 2023, the sequencing segment is expected to register the highest CAGR during the forecast period. Sequencing technology's ability to generate error-free, high-yield results, its integration in clinical and research settings, and increased partnerships among sequencing instrument manufacturers are all contributing factors.
2. Pharmaceutical and Biotechnology Dominance: Among end users, the pharmaceutical and biotechnology industry segment is estimated to account for the largest share of the life science equipment market in 2023. This is attributed to the growing interest in personalized medicine, an uptick in research studies on biologics and biosimilars, and increased collaborations between pharmaceutical and biotechnology companies and Contract Research Organizations (CROs).
3. Regional Insights: In 2023, North America is anticipated to hold the largest share of the life science equipment market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Factors supporting North America's leadership position include a high prevalence of chronic and infectious diseases, extensive approvals of biosimilars and generics, advanced technology adoption, a well-established healthcare system, and increased funding for life science research.

Key Market Players:

Leading companies in the life science equipment market include Agilent Technologies, Inc., Becton, Dickinson, and Company, Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche AG, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Waters Corporation, Bruker Corporation, Shimadzu Corporation, Siemens Healthineers AG, Eppendorf SE, Sartorius AG, and Qiagen N.V.

Scope of the Report:

Life Science Equipment Market Assessment - by Technology

• Spectroscopy
• Molecular Spectroscopy
• UV/Vis Spectroscopy
• Nuclear Magnetic Resonance (NMR)
• Near-Infrared (NIR) Spectroscopy
• Infrared (IR) Spectroscopy
• Raman Spectroscopy
• Polarimeters and Refractometers
• Fluorescence & Luminescence Spectroscopy
• Other Molecular Spectroscopy Technologies

Note: Other molecular spectroscopy technologies segment includes Raman spectroscopy, ellipsometry, and color measurement.

• Mass Spectrometry
• Quadrupole LC/MS
• Time of Flight LC/MS (Q-TOF & LC-TOF)
• Gas Chromatography-Mass Spectrometry (GC/MS)
• Fourier Transform Mass Spectrometry (FT/MS)
• Matrix-Assisted Laser Desorption/Ionization-Time of Flight Mass Spectroscopy (MALDI-TOF MS)
• Portable and In-Field Mass Spectroscopy
• Tandem Mass Spectroscopy (MS/MS)
• Ion Trap Mass Spectroscopy (LC/MS)
• Atomic Spectroscopy
• Atomic Absorbance Spectroscopy (AAS)
• X-Ray Fluorescence (XRF) Spectroscopy
• X-Ray Diffraction (XRD) Spectroscopy
• Other Atomic Spectroscopy Technologies

Note: Other atomic spectroscopy technologies segment includes inductively coupled plasma (ICP) spectroscopy, glow discharge spectroscopy, and arc/spark optical emission spectroscopy.

• Spectroscopy Software
• Microscopy
• Electron Microscopy
• Optical Microscopy
• Scanning Probe Microscopy
• Other Microscopy
• Microscopy Software
• Chromatography
• High-Performance Liquid Chromatography (HPLC)
• Gas Chromatography (GC)
• Low Pressure Liquid Chromatography (LPLC)
• Flash Chromatography
• Thin Layer Chromatography (TLC)
• Ion Chromatography
• Supercritical Fluid Chromatography (SFC)
• Chromatography Software
• Lab Automation
• Automated Workstations
• Robotic Systems
• Automated Storage and Retrieval Systems (ASRS)
• Lab Automation Software
• Immunoassay Analyzers
• Chemiluminescence Immunoassay
• Fluorescence Immunoassay
• Radioimmunoassay (RIA)
• Colorimetric Immunoassay
• Other Immunoassay Analyzers
• Immunoassay Software
• PCR
• RT-PCR
• Conventional PCR
• Digital PCR
• PCR Software
• Sequencing
• Flow Cytometry
• Cell-Based Flow Cytometers
• Bead-Based Flow Cytometers
• Flow Cytometry Software
• Incubators
• Microarray
• DNA Microarrays
• Protein Microarray
• Tissue Array
• Other Microarrays
• Microarray Software

Note: Other microarrays segment includes glycan microarray, carbohydrate microarray, and chemical compounds microarray.

• Centrifuges
• Centrifuges, by Type
• Devices
• Multipurpose Centrifuges
• Microcentrifuges
• Mini-centrifuges
• Ultracentrifuges
• Other Centrifuges
• Centrifuge Accessories
• Centrifuges, by Model
• Benchtop Centrifuges
• Floor-standing Centrifuges
• Centrifuges, by Application
• Research Applications
• Genomics
• Microbiology
• Cellomics
• Proteomics
• Clinical Applications
• Diagnostics
• Blood Processing and Screening
• Other Applications
• Electrophoresis
• Gel Electrophoresis
• Capillary Electrophoresis
• Gel Documentation Systems and Software
• Other Equipment

Note: Other equipment segment includes autoclaves, stirrers & shakers, mixers, baths, hot plates, ovens & furnaces, and balances.

Life Science Equipment Market Assessment - by End User

• Pharmaceutical and Biotechnology Industry
• Academic & Research Institutes
• Hospitals and Diagnostic Laboratories
• Analytical Testing Laboratories
• Agriculture and Food Industry
• Forensic Laboratories
• Other End Users

Note: Other end users include blood banks and industries, such as cosmetics, chemicals, oil & gas, electronics & semiconductors, automotive, aerospace, ceramics, plastics, rubber, and paints & coatings.

Life Science Equipment Market Assessment - by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Switzerland
• Rest of Europe (RoE)
• Asia-Pacific (APAC)
• China
• Japan
• India
• South Korea
• Rest of APAC (RoAPAC)
• Latin America
• Brazil
• Mexico
• Rest of LATAM (RoLATAM)
• Middle East & Africa
• Saudi Arabia
• UAE
• Rest of Middle East & Africa (RoMEA)

For more information about this report visit https://www.researchandmarkets.com/r/zcajgx

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