Life Science & Analytical Instruments Market Overview
The global life science & analytical instruments market is expected to grow at a 6.8% CAGR during the forecast period. the life science and analytical instruments market size will expand up to USD 91.6 billion by the year 2025, says Market Research Future (MRFR).
The growing usage of analytical instruments in the life science industry, as well as the rapid emergence of new life science instrument firms in the healthcare industry, are the primary drivers of the life science & analytical instruments market. Numerous factors contribute to the growth of the life science and analytical instruments markets. According to the analysis, some of the reasons driving the worldwide life science & analytical instruments market include the growing demand for food safety and quality, the quick rise of the proteomics market, and the spike in demand for analytical instruments across various industries.
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Additionally, numerous firms are working on increasing the usage of analytical instruments, and governments are promoting the market by providing funding for research and development. These factors all contribute to the life science & analytical instrumentation market growth. Additionally, the increasing development and growth of life science research and development is likely to boost the growth of the life science & analytical instruments market.
The future cost of instruments, a lack of public knowledge about health, and the inaccessibility of other feasible alternatives are projected to restrain the expansion of the life science & analytical instruments market.
Life Science & Analytical Instruments Market Segmentation
The market for life science and analytic equipment is segmented by application, end user, and application.
The segmented application, life science and analytical instruments, is further classified into clinical and diagnostic applications, as well as research and development applications.
The life science and analytical equipment market is segmented on the basis of type into chromatography, microscopy, cell counting, spectroscopy, electrophoresis, next-generation sequencing, PCR, and flow cytometry.
The life science and analytical equipment sector is segmented according to end user, including biotechnology and pharmaceutical enterprises, diagnostic laboratories, and hospitals.
Life Science & Analytical Instruments Market Regional Overview
The global market for life science and instruments is segmented geographically into the Americas, Asia-Pacific, Europe, and the Middle East and Africa.
America is predicted to dominate the global life science & analytical instruments market. The region’s rapid expansion could be attributed to the rising prevalence of chronic diseases such as cancer and other lifestyle conditions. Additionally, technical advancements in diagnostic systems and an ageing population are important drivers of growth in the life science and analytical equipment industries in the American region.
During the projected period, the European region is expected to hold the second-largest life science & analytical instruments market share in the scientific instruments market. The analytical instruments industry’s exponential expansion in the European market is a result of the growing pharmaceutical and biotechnology industries in nations such as Italy, the United Kingdom, and Germany. Additionally, growing awareness and clinical trials, as well as the influence of academic and research organisations, are important drivers of the European laboratory analytical instruments market.
The Asia-Pacific area is expected to see strong growth in the life science and analytical instrumentation industries. The rising prevalence of chronic diseases such as cancer, diabetes, and HIV is expected to drive the life science & analytical instruments market. Additionally, rapid infrastructure development and an increase in the number of research organisations would propel the laboratory analytical equipment market to new heights.
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Africa and the Middle East will continue to see consistent expansion in the market for life science technologies. In the coming years, Saudi Arabia, Egypt, and other Middle Eastern countries are likely to dominate the region’s life science & analytical instruments market.
Life Science & Analytical Instruments Market Competitive Dynamics
The competitive companies in the life science and analytical instruments industry are PerkinElmer, Inc. (the U.S.), General Electric Company (U.S.), Danaher (U.S.), Thermo Fisher Scientific (U.S.), Agilent Technologies, Inc. (U.S.), Qiagen (Germany), Shimadzu Corporation (Japan), Becton, Dickinson and Company (U.S.), and Merck KGAA (Germany).
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