The Life Science and Analytical Instruments Market is Expected to grow over the CAGR of Around 6.5% During the Period 2017 to 2023.
Life Science & Analytical Instruments Market – Insights
Life science instruments are used extensively and are a necessary part of diagnosis, research, and testing. Used heavily in nearly all laboratories both healthcare, research and in several commercial testing laboratories, the demand for life science and analytical instruments is set to grow. Market Research Future has identified various pertinent facts and figures which are expected to result in market growth at a CAGR of 6.5% during the forecast period from 2017 to 2023. In 2016, the market was observed to have generated a value of USD 36.5 Bn and grow to reach USD 56.7 Bn by the end of 2023.
Testing is a necessary part of life sciences, and testing performed in clinical labs as well as analytical chemistry, in general, cannot be carried out without analytical instruments. The growing healthcare sector and demand for research and development have resulted in an increase in the number of research companies present in the market.
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Moreover, biotechnology is witnessing massive growth which has resulted in an increase in biomedical and biotechnological testing laboratories, thus increasing demand. Many F&B organizations among others have chemical testing labs to ensure the safety of the product as well as consistency which properly represents the organization. Many restaurants also use analytical instruments to gauge food quality. Life science instruments and analytical instruments have a wide number of applications ranging from identification of safety in a food sample to the analysis of DNA For drug discovery. The ongoing, consistent need for testing is likely to ensure growth over the forecast period.
Life Science & Analytical Instruments Market – Key Players
MRFR’s profiling of the notable market players has been included in the report. Influential market players such as Charles River Laboratories International, Inc., Thermo Fisher Scientific, Inc., Merck KGaA, F. Hoffmann-La Roche Ltd., Bruker Corporation, Avista Pharma Solutions, Paragon Bioservices, Inc, Dynalabs, Avance Biosciences, PerkinElmer, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Waters Corporation, Agilent Technologies, Inc., Danaher Corporation, Shimadzu Corporation and others are participating in the competitive landscape of the global life science & analytical instruments market.
Life Science & Analytical Instruments Market – Segmentation
The global life science and analytical instrumentation market has been segmented on the basis of type of instruments, end-users, application, and region. Types of instruments in the market have been segmented into centrifuges, chromatography, electrophoresis, flow cytometry, microscopy, and cell counting instruments, PCR, spectroscopy, western blotting, and others. Under centrifuges, the market has been seg-segmented into laboratory centrifuges, analytical ultracentrifuges, gas centrifuges, and others. The chromatography segment is further segmented into thin-layers chromatography (TLC), liquid chromatography, gas chromatography, HPTLC, and other. Further sub segmentations for types of instruments are included in the report.
End-users of life science & analytical instrumentation have been segmented into pharmaceutical & biotechnology companies, agriculture & food industry, research & clinical testing laboratories, and others. Applications of these instruments can be found in research applications, diagnostic applications, and other applications.
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Life Science & Analytical Instruments Market – Regional Analysis
North America has burgeoning healthcare and pharmaceutical industry with a rapidly growing emphasis on biotechnology. Moreover, the region has a significant F&B sector. Combined, these sectors have a huge demand for life science and analytical instruments. The region has stringent laws in place regarding hygiene which has increased this demand as the food sector continues to grow. North America has generated a market leading revenue which places the region at the head of global growth. Meanwhile, the Asia Pacific region is a rapidly growing sector due to rising clinical research and the increasing support from the government toward the growth of the market.
Major TOC for Life Science & Analytical Instruments Market:
1 Report Prologue
2 Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
3 Research Methodology
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
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