Life Science Instrumentation Market Worth $79.9 Billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 21, 2020 /PRNewswire/ -- According to the new market research report "Life Science Instrumentation Market by Technology [Spectroscopy, Chromatography, Flow Cytometry, NGS, PCR,, Microscopy], Application (Research, Clinical), End User (Pharma-Biotech, Agri and Food Industry, Hospitals & Diagnostic Labs) - Global Forecasts to 2025", published by MarketsandMarkets™, the global Life Science Instrumentation Market size is projected to reach USD 79.9 billion by 2025 from USD 60.0 billion in 2020, growing at a CAGR of 5.9% during the forecast period.
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Increasing spending on pharmaceutical R&D, growing food safety concerns, technological advancements in analytical instruments, and the availability of funding for life science research are fueling the growth of the market. Moreover, rising environmental safety concerns, increasing demand for analytical instruments in several industries, and high demand in emerging nations are some of the other major factors driving the growth of this market.
The spectroscopy segment accounted for the largest share of the life science instrumentation market, by technology, in 2019
Based on technology, the market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The spectroscopy technology segment accounted for the largest share of the life science instrumentation market during the forecast period. The large share of this market segment is primarily due to increased spending on R&D in pharmaceutical companies, government regulations on drug safety, and growing focus on the quality of food products.
Browse in-depth TOC on "Life Science Instrumentation Market"
189 – Tables
33 – Figures
306 – Pages
Molecular spectroscopy to dominate the spectroscopy market during the forecast period
The spectroscopy segment is categorized into three subsegments, namely, mass spectroscopy, molecular spectroscopy, and atomic spectroscopy. Molecular spectroscopy is expected to account for the largest share of the spectroscopy segment during the forecast period. The major share of the segment is attributed to the wide application of this technology and the presence of stringent regulatory guidelines for drug development and safety.
Next-generation sequencing (NGS) to register the highest growth over the forecast period among life science instrumentation technologies
The Next-generation sequencing (NGS) segment is expected to register the highest growth over the forecast among the life science instrumentation technologies market over the forecast period. The significant growth of this segment is attributed to the advantages offered by NGS technologies in DNA sequencing, which substantially provides more throughput and minimizes the need for fragment-cloning methods. In addition, continuous technological advancements and the increasing availability of cheaper sequencing platforms
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North America to dominate the life science instrumentation market during the forecast period
The life science instrumentation industry is segmented into five regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North American region accounted for the largest share of the life science instrumentation market in 2019. The high adoption rate of novel technologies and the large number of life science research studies conducted in this region. Moreover, stringent drug development regulations, increased funding for life science research activities, and the growing number of metabolomics research studies are some of the major factors driving the growth of the life science instrumentation sector in North America.
The major players operating in the life science instrumentation market are Agilent Technologies (US), Becton, Dickinson, and Company (US), Bio-Rad Laboratories, Inc. (US), Bruker Corporation (US), Danaher Corporation (US), Eppendorf AG (Germany), GE Healthcare (US), Hitachi High-Technologies Corporation (Japan), Horiba (Japan), Merck KGaA (Germany), PerkinElmer, Inc.. (US), Qiagen N.V. (Netherlands), Shimadzu Corporation (Japan), Thermo Fisher Scientific, Inc. (US), and Waters Corporation (US).
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