Technavio Announces the Publication of its Research Report Analytical Instrument Market in the US 2017-2021
Technavio recognizes the following companies as the key players in the analytical instrument market in the US: ABB, Agilent Technologies, Siemens, and Thermo Fisher Scientific.
Other prominent vendors in the market are: AMETEK, Bio-Rad Laboratories, Danaher Corporation, Fortive, General Electric, Honeywell International, Mitsubishi Electric, and Yokogawa Electric.
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Commenting on the report, an analyst from Technavios team said: One of latest trends in the market is rise in electrical and electronic components in automobile industry. Wired and wireless serial communications are being widely implemented in vehicles nowadays, and these systems also contribute to the demand for electrical measurement equipment. MOST150 and Broad R-Reach Ethernet for cars are two communication technologies that are increasingly being used in vehicles. New entertainment systems, which are being installed in cars, can connect more devices by using wireless technologies such as Wi-Fi and Bluetooth. In developed regions, such as the US and Europe, embedded cellular technology is playing a more active role in eCall, where cars automatically send an alert to emergency centers in the case of a serious accident. Cars are also equipped with advanced features such as advanced GPS systems and a hot spot that converts 3G or 4G signals into Wi-Fi.
According to the report, one of the primary drivers in the market is rise in demand for generic drugs. Pharmaceutical drugs are chemical or biochemical substances used to prevent and treat diseases. The global generic drugs market is one of the major sub-markets of the global pharmaceutical market, and it will grow at a significant rate during the forecast period. The patent expiries of branded drugs and the growing prevalence of diseases increase the demand for generic drugs, contributing to the market’s growth.
Further, the report states that one major challenge in the market is necessity for price-sensitive and multiple technology solutions. Advances in technology have encouraged companies to invest in innovative products, thus increasing market competitiveness. Evolving consumer preferences have increased the need for investments in product development. Many electrical measurement equipment vendors are dependent on raw materials from China for manufacturing their products. The increase in raw material costs and import duties imposed by governments worldwide have increased the production cost of electrical measurement equipment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Analytical Instrument
Analytical instruments are precision engineering equipment used in the constant monitoring of numerous parameters. These instruments are also often known as online instruments. They analyze and identify the physical, chemical, molecular, and elemental properties of a given sample. These instruments are used across end-user industries such as chemical and petrochemical, oil and gas, and pharmaceutical and biotechnology.
Technavios analysts forecast the analytical instrument market in the US to grow at a CAGR of 3.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the analytical instrument market in the US for 2017-2021. To calculate the market size, the report discusses the major drivers influencing market growth and the challenges faced by vendors and the market.
Technavio’s report, Analytical Instrument Market in the US 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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