The global life science instrumentation market size is projected to reach USD 79.9 billion by 2025 from USD 60.0 billion in 2020, at a CAGR of 5.9%
NEW YORK, April 30, 2020 /PRNewswire/ -- The life science instrumentation market is projected to grow at a CAGR of 5.9% during the forecast period
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The global life science instrumentation market size is projected to reach USD 79.9 billion by 2025 from USD 60.0 billion in 2020, at a CAGR of 5.9%. The growth of the market is attributed to increasing spending on pharmaceutical R&D, growing food safety concerns, technological advancements in analytical instruments, and the availability of funding for life science research. Moreover, the growing proteomics market, rising environmental safety concerns, increasing demand for analytical instruments in several industries, and high demand in emerging nations offer lucrative opportunities for the market players. However, the dearth of skilled professionals and the high cost of technologically advanced instruments are the major factors that are expected to restrain the growth of this market during the forecast period.
The spectroscopy segment is expected to account for the largest market share during the forecast period.
Based on technology, the market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The spectroscopy accounted for the largest share of this market in 2019, driven by increased spending on R&D in pharmaceutical companies, government regulations on drug safety, and growing focus on the quality of food products.
The molecular spectroscopy segment to hold a major share of the life science instrumentation market during the forecast period.
Based on type, the spectrometry market is segmented into three major types—mass spectrometers, molecular spectrometers, and atomic spectrometers. The wide application of this technology and the presence of stringent regulatory guidelines for drug development and safety are driving the growth of the molecular spectrometry segment.
Europe to account for the second-largest share of the global market in 2019
The life science instrumentation market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa.Europe accounted for the second-largest share of the global life science instrumentation market in 2019.
Direct & indirect financial investments in analytical instruments, rising healthcare expenditure, an increase in research activity & academia-industry partnerships, and conferences & symposia related to analytical technologies are the key factors driving market growth in the region. Moreover, the rising incidence of infectious diseases and favorable government initiatives are playing a vital role.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–45%, Tier 2–34%, and Tier 3– 21%
• By Designation: C-level–47%, Director-level–33%, and Others–20%
• By Region: North America–35%, Europe–32%, Asia Pacific–25%, Latin America–6%, and the Middle East & Africa–2%
The major players in the market include Agilent Technologies (US), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), Eppendorf AG (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Horiba (Japan), Merck KGaA (Germany), PerkinElmer, Inc.. (US), Qiagen N.V. (Netherlands), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (US), and Waters Corporation (US)., among others.
Research Coverage
This report studies the life science instrumentation market based on technology, application, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five main regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.
This report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios offered by the top players in the life science instrumentation market
• Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the life science instrumentation market
• Market Development: Comprehensive information on lucrative emerging regions
• Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the life science instrumentation market
• Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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