Global biotechnology instrumentation market is anticipated to witness lucrative growth over the forecast period. Key driver of the market is the rising need of biotechnological tools in biotech, pharmaceutical and other related industries. Pharmaceutical companies are expected to improve and enhance their R&D leading to rising need of biotechnological instruments for the purpose of experimentation, testing and analysis. New product development and investigation of existing drugs for better or advanced therapeutic activity are also expected to fuel the growth of the market. Advances in the quality of instruments and improving throughput capacity are expected to further propel the growth of the market. Other drivers such as increasing government funding, rising environmental monitoring and safety concerns and augmenting applications of the biotechnology instruments in applied markets are expected to boost the market. Post the Human Genome Project completion, the true strengths of biotechnological instruments have been witnessed and unleashed, thereby, expecting to help boost the growth of the market.
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The biotechnology instrumentation market can be segmented according to technology and end users. On the basis of technology the market is segmented into electrophoresis, immunoassay, chromatography (especially HPLC (High Performance Liquid Chromatography), imaging, microarray technology, laboratory automation and mass spectroscopy. Electrophoresis is further segmented into gel and capillary electrophoresis. Immunoassay is further subdivided into enzyme, radio, fluorescence and chemiluminescence immunoassays. Chromatography segment is further subdivided into liquid and gas chromatography. Liquid chromatography is preferred over gas owing to excessive reagents availability and procedural ease. Microarray technology is further segmented into DNA, protein, cell and tissue. Mass spectroscopy is further segmented into mass, molecular and atomic spectroscopy. Imaging dominates the biotechnology instrumentation market based on technology with the largest share, followed by electrophoresis.
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Dominance of imaging is expected to sustain during the forecast period due to varied application of the instrumentation. On the basis of end users, the market is broadly classified into three categories namely; pharmaceutical companies, research institutes and biotech companies. Pharmaceutical and biotechnological companies held maximum share of the market and is expected to retain them over the forecast period.
Regionally, the market is divided into five areas, namely; North America, Latin America, Europe, Asia Pacific and MEA (Middle East and Africa). North America dominated the biotechnology instrumentation market and is expected to maintain the dominance over the forecast period. The drivers for this dominance are the abundant R&D activities and excessive government spending into the development of the market. The initiation of Human Genome Project by North America is a major contributor of the dominance, thereby anticipating increasing and diversified application of biotechnology instruments in the region.
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