Life Science & Analytical Instruments Market Trends, Current Updates and Forecast to 2023
Market Synopsis:
The rising burden of chronic diseases has led to increasing clinical trials being undertaken by healthcare service providers and organizations. This is likely to have a positive impact on demand for life science instruments. The analysis presented by Market Research Future (MRFR) reveals that the global life science & analytical instruments market is projected to strike 6.5 % CAGR over the projection period 2017 to 2023. The report asserts that the market’s valuation is poised to grow from USD 36.5 Bn in 2016 to USD 56.7 Bn by 2023.
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The growth of the pharmaceutical and biotechnology industries is expected to catalyze the expansion of the life science & analytical instruments market over the next few years. In addition, the increasing number of laboratories is also poised to expedite the proliferation of the market in the forthcoming years.
Competitive Dashboard:
The important players participating in the share analysis of the global life science & analytical instruments market are Becton, Dickinson and Company (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific, Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Switzerland), Bruker Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Danaher Corporation (U.S), Shimadzu Corporation (Japan), PerkinElmer, Inc. (U.S.), Waters Corporation (U.S.), Avance Biosciences (US), Charles River Laboratories International, Inc. (U.S.), Paragon Bioservices, Inc (US), Dynalabs (US), Avista Pharma Solutions(US), and Merck KGaA (Germany).
Market Segmentation:
The global Life Science & Analytical Instruments Market Size, by type, has been segmented into Chromatography (Thin-layer Chromatography (TLC), Liquid Chromatography, Gas Chromatography, HPTLC and Other), Flow Cytometry, Microscopy (Scanning electron microscope, Transmission electron microscope and Other), Electrophoresis (Conventional Electrophoresis [One Dimensional and two dimensional) and Capillary Electrophoresis), Cell Counting instruments (Hemocytometers and Other), Western Blotting, PCR, Spectroscopy (Mass Spectroscopy, UV spectroscopy, Atomic spectroscopy and Other), and others (Sterilization instruments, Incubators, Colorimeters, Freezers, Laboratories balances, other).
Based onend user, the life science & analytical instruments market has been segmented into agriculture and food industry, pharmaceutical and biotechnology companies, research and clinical testing laboratories, and others.
On the basis of application,the life science & analytical instruments market has been segmented intodiagnostic applications, research applications, and other applications.
Regional Analysis:
The global life science & analytical instruments market, by region, has been segmented into North America, Asia Pacific, Europe, and the Middle East and Africa (MEA). North America is expected to hold a significant share of the market over the next couple of years. The presence of key vendors in the region is likely to fuel demand for the instruments in the foreseeable future. Rising investments in the healthcare sector are anticipated to increase drug discovery research activities. This, in turn, is poised to boost the growth trajectory of the life science & analytical instruments market in the region through the projection period. Also, the rapid pace of technological developments in the healthcare industry is anticipated to aid the proliferation of the regional market.
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The second spot is secured by Europe currently and it is expected to maintain its prominence in the forthcoming years. Increasing research & developments projects, in conjunction with the availability of funds, is projected to accelerate the revenue creation for players of the life science & analytical instruments market in the region. The expansion of the pharmaceutical and biotechnology industries in the region is anticipated to impact the growth pace positively in the years to come.
Asia Pacific is likely to exhibit significant growth over the next couple of years.Rising clinical research programs lead the revenue generation in the healthcare sector of the region. This, in turn, has been prognosticated to facilitatethe proliferation of life science & analytics instruments market over the next couple of years.