The Global Life Science and Chemical Instruments Industry is poised for a remarkable upswing, according to the latest analysis conducted by Future Market Insights Inc. Projections indicate a substantial increase from US$ 40.7 million in 2021 to an impressive US$ 43.8 million by 2026. Furthermore, the market is set to showcase a robust Compound Annual Growth Rate (CAGR) of 5.3% from 2022 to 2032.
The life science and chemical instruments sector, playing pivotal roles in advancing research and development, enriching educational institutes, and enhancing clinical laboratory capabilities, is on the cusp of a transformative period. The constantly evolving instruments wield a profound impact across various sectors, contributing significantly to scientific breakthroughs and technological advancements.
Global Life Science and Chemical Instruments Industry:
Owing to technological advancements, the Global Life Science and Chemical Instruments Industry is expected to witness rapid growth, with an increase in outsourcing activities to Contract Research Organizations (CROs). Other factors contributing to the growth of the life science and chemical instruments market are growth in research and development in the pharmaceutical companies in drug discovery and clinical diagnostics, available funding from the government and corporations for research studies, and continuous technological innovation in the field of analytical instruments. Also, the emergence of proteomics and innovations in human genome mapping has increased the demand for the instruments in research and development laboratories and academic institutions. However, fierce competition among the vendors, lack of skilled professionals, and the high cost of these advanced instruments are anticipated to act as challenges for the growth of this market.
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Chromatography is a method of separating inorganic and organic compounds so that they can be analyzed and studied further. This technique has been widely accepted in various industries such as biotechnology, the chemical industry, the pharmaceutical industry, the food industry, and clinical and forensic laboratories. The demand and further growth of chromatographic applications with drive the chromatographic instruments market during the forecast period. There is a growing demand for Electrophoresis and DNA sequencers and amplifiers in the biotechnology, pharmaceutical, and healthcare industries.
Global Life Science and Chemical Instruments Industry: Overview
The life science and chemical instruments market is expected to expand at a rate of 7% during the forecast period (2015-2025). This market of life science and chemical instruments will grow twofold by 2025.
The spectrometry segment accounts for a significant share of 35%, followed by the chromatography segment.
The major end-users of this market include:
- Pharmaceutical and Biotechnology companies
- Clinical Research Organizations (CROs)
- Research and Academic Institutions
- Healthcare Facilities
- Forensic Science Laboratories
- Food and Agriculture Industry;
- Environmental Testing Industry
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Life Science and Chemical Instruments Industry: Regional Outlook
Geographically, the global Life Science and Chemical Instruments Industry is segmented into North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan, and the Middle Eastern and African regions. At present, North America dominates the Global Life Science and Chemical Instruments Industry followed by Western Europe. There is an immense opportunity for the market to grow in Asia Pacific, Japan, and Latin American (LATAM) countries. Asia Pacific is demonstrating high market growth due to increasing outsourcing activities in the life science sector, thereby leading to growth in demand for life science and chemical instruments. The market in Europe has reached saturation but has growth potential for the lab automation segment. Singapore is generating a large amount of revenue for this market as many life science companies are establishing their business in Singapore due to tax incentives provided by the domestic government.
Global Life Science and Chemical Instruments Industry: Key Players
Some of the major players contributing to Life Science and Chemical Instruments market are Agilent Technologies, Bio-Rad Laboratories, Becton, Dickinson and Company, Abbott Laboratories, Siemens Healthcare Diagnostics, Shimadzu Corporation, Thermo Fisher Scientific, Inc., and Roche Diagnostics, Inc.
The report covers an exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, UK, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Japan
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Global Life Science and Chemical Instruments Industry: Segmentation
Based on the technologies, the Global Life Science and Chemical Instruments Industry can be segmented as follows:
- Chromatography
- Electrophoresis
- DNA sequencers and amplifiers
- Laboratory automation
- Spectrometry
- Flow cytometry
- Microarrays
Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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