(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The 'life science instrumentation market size, market share, application analysis, regional outlook, growth trends, key players, competitive strategies and forecasts, 2022 to 2030' report has been added to ResearchAndMarkets.com's offering.
Industry Outlook
The life science instrumentation market is set to reach US$ 107,344.2 Mn by 2030 from US$ 68,336.6 Mn in 2021 showcasing moderate growth at a compounded annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.
Technological advancement in life science instruments and stringent healthcare norms pertaining to food and drug manufacturing processes drive market growth for life science instrumentation techniques. Rising public health awareness and proactive government policies to curb the mortality associated with chronic diseases further propel the demand for life science instrumentation technology in pharmaceutical and biotechnology companies.
Lack of sample preparation for analysis and wide applicability during quality control of end products across life science industry increases demand for spectroscopy technology
Spectroscopy is a very old and reliable technology that is very popular among researchers working in life science industry. It currently holds the largest market in the technology segment for life science instrumentation market. Ease of handling, lack of sample preparation and wide utilization during quality control of end products across life science industry drives the spectroscopy technology market growth. Next-generation sequencing is set to capture the market in the near future on account of its ease of creating biological sequences for complex samples at low cost and speed and its wide application in the development of personalized medicine.
Burgeoning requirement for novel drugs and stringent norms stipulated by healthcare agencies worldwide drive pharmaceutical and biotechnology companies market
Pharmaceutical and biotechnology companies are the largest revenue holder in the end user segment for life science instrumentation market. Stringent guidelines stipulated by healthcare agencies worldwide pertaining to cGMP and GLP during drug discovery and development drive the market growth for pharmaceutical and biotechnology companies.
Burgeoning requirement of novel drugs to treat chronic diseases further propels the demand of life science instrumentation technology in pharmaceutical and biotechnology industries. Diagnostic laboratories will register fastest growth in the near future owing to rising public health awareness resulting in early disease diagnosis and availability of skilled labor force to perform precise and accurate screening and interpretation of analytical and biological samples.
Existence of well-developed pharmaceutical and biotechnology companies and flourishing research activities drive the market growth in North America
North America is presently leading the regional segment for life science instrumentation market holding 32% market share. The drivers associated with its market growth are existence of well developed pharmaceutical and biotechnology companies and flourishing research activities. Significant rise in the number of patients suffering with lifestyle disorders triggers the need for development of safe and efficacious drugs for treatment in the region.
Europe is in the second position representing 30% market share owing to the presence of major players such as Merck KGaA, Agilent Technologies, Inc., Illumina, Inc. etc. in the western European region. Eastern European region serves as a lucrative market opportunity for western giants to establish subsidiaries and retail outlets. Asia Pacific holds 25% market share on account of rising prevalence of chronic disease and huge government expenditure to execute research activities pertaining to drug discovery and development.
Market Segmentation
Technology
Spectroscopy Chromatography Polymerase Chain Reaction Next Generation Sequencing Clinical Chemistry Analyzers Flow Cytometry Immunoassays
End User
Research Institutes Pharmaceutical and Biotechnology Companies Diagnostic Laboratories
Key questions answered in this report
What are the key micro and macro environmental factors that are impacting the growth of Life Science Instrumentation market? What are the key investment pockets with respect to product segments and geographies currently and during the forecast period? Estimated forecast and market projections up to 2030. Which segment accounts for the fastest CAGR during the forecast period? Which market segment holds a larger market share and why? Are low and middle-income economies investing in the Life Science Instrumentation market? Which is the largest regional market for Life Science Instrumentation market? What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa? Which are the key trends driving Life Science Instrumentation market growth? Who are the key competitors and what are their key strategies to enhance their market presence in the Life Science Instrumentation market worldwide?
Key Topics Covered:
1. Preface
2. Executive Summary
3. Life Science Instrumentation Market: Competitive Analysis
4. Life Science Instrumentation Market: Macro Analysis & Market Dynamics
5. Life Science Instrumentation Market: By Technology, 2020-2030, USD (Million)
6. Life Science Instrumentation Market: By End User, 2020-2030, USD (Million)
7. North America Life Science Instrumentation Market, 2020-2030, USD (Million)
8. UK and European Union Life Science Instrumentation Market, 2020-2030, USD (Million)
9. Asia Pacific Life Science Instrumentation Market, 2020-2030, USD (Million)
10. Latin America Life Science Instrumentation Market, 2020-2030, USD (Million)
11. Middle East and Africa Life Science Instrumentation Market, 2020-2030, USD (Million)
12. Company Profile
Companies Mentioned
Agilent Technologies Inc. Bruker Corporation Bio-Rad Laboratories Inc. Danaher Corporation Illumina Inc. Merck KGaA PerkinElmer Inc. Shimadzu Corporation Thermo Fisher Scientific Inc. Waters Corporation.
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Tags biology and life sciences life science life science instrumentation research and development sample preparation