Industry Outlook
The life science instrumentation market is set to reach US$ 100,792.7 Mn by 2027 from US$ 57,185.5 Mn in 2018 showcasing moderate growth at a compounded annual growth rate (CAGR) of 6.5% during the forecast period from 2019 to 2027. Technological advancement in the life science instruments and stringent healthcare norms pertaining to food and drug manufacturing process drive the market growth for life science instrumentation techniques. Rising public health awareness and proactive government policies to curb the mortality associated with chronic diseases further propel the demand for life science instrumentation technology in the pharmaceutical and biotechnology companies.
Market Synopsis
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"Lack of sample preparation for analysis and wide applicability during quality control of end products across life science industry increases demand for spectroscopy technology"
Spectroscopy is a very old and reliable technology which is very popular among researchers working in life science industry. It currently holds the largest market in the technology segment for life science instrumentation market. Ease of handling, lack of sample preparation and wide utilization during quality control of end products across life science industry drives the spectroscopy technology market growth. Next generation sequencing is set to capture the market in the near future on account of its ease of creating biological sequences for complex samples at low cost and speed and its wide application in the development of personalized medicine.
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"Burgeoning requirement of novel drugs and stringent norms stipulated by healthcare agencies worldwide drive the pharmaceutical and biotechnology companies market"
Pharmaceutical and biotechnology companies are the largest revenue holder in the end user segment for life science instrumentation market. Stringent guidelines stipulated by healthcare agencies worldwide pertaining to cGMP and GLP during drug discovery and development drive the market growth for pharmaceutical and biotechnology companies. Burgeoning requirement of novel drugs to treat chronic diseases further propel the demand of life science instrumentation technology in pharmaceutical and biotechnology industries. Diagnostic laboratories will register fastest growth in the near future owing to rising public health awareness resulting in early disease diagnosis and availability of skilled labor force to perform precise and accurate screening and interpretation of analytical and biological samples.
"Existence of well developed pharmaceutical and biotechnology companies and flourishing research activities drive the market growth in North America"
North America is presently leading the regional segment for life science instrumentation market holding 32% market share. The drivers associated with its market growth are existence of well developed pharmaceutical and biotechnology companies and flourishing research activities. Significant rise in the number of patients suffering with lifestyle disorders triggers the need for development of safe and efficacious drugs for treatment in the region. Europe is in the second position representing 30% market share owing to the presence of major players such as Merck KGaA, Agilent Technologies, Inc., Illumina, Inc. etc. in the western European region. Eastern European region serves as a lucrative market opportunity for western giants to establish subsidiaries and retail outlets. Asia Pacific holds 25% market share on account of rising prevalence of chronic disease and huge government expenditure to execute research activities pertaining to drug discovery and development.
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Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The market segmentation for the scope of report is done as by technology, end user and geography.
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
By Technology (2017–2027; US$ Mn)
• Spectroscopy
• Chromatography
• Polymerase Chain Reaction
• Next Generation Sequencing
• Clinical Chemistry Analyzers
• Flow Cytometry
• Immunoassays
|
|
By End User (2017–2027; US$ Mn)
• Research Institutes
• Pharmaceutical & Biotechnology Companies
• Diagnostic Laboratories
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Canada)
• Europe (U.K., Germany, Rest of Europe)
• Asia Pacific (China, Japan, Rest of Asia Pacific)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Middle East and Africa (GCC, Rest of MEA)
|
Medical device producing companies actively engaged in the manufacturing of life science instrumentation technology are Agilent Technologies, Inc., Bruker Corporation, Bio-Rad Laboratories, Inc., Danaher Corporation, Illumina, Inc., Merck KGaA, PerkinElmer, Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc. and Waters Corporation.
Key questions answered in this report
- What are the organic and inorganic growth strategies adopted by life science instrumentation market?
- Which major players are competing in the life science instrumentation market?
- What are the latest technological advancement pertaining to different techniques used for drug sample quality control and validation?
- What will be the market performance of next generation sequencing technology during the forecast period?
- What are the major applications of life science instrumentation techniques in pharmaceutical and biotechnology companies?
- Why is North America the dominating regional segment in life science instrumentation market?
