Life Science and Chemical Instruments Market Poised to Incur Steadfast Growth During 2015-2025
Life Science and Chemical Instruments Market: Segmentation
Owing to technological advancements, the global life science and chemical instruments market is expected to witness a rapid growth, with an increase in outsourcing activities to Contract Research Organizations (CRO). 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 government and corporates for research studies, and continuous technological innovation in the field of analytical instruments. Also, the emergence of proteomics and innovations in human genome mapping have also 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 high cost of these advanced instruments are anticipated to act as challenges for the growth of this market.
Life Science and Chemical Instruments Market: Segmentation
Based on the technologies, the life science and chemical instruments market can be segmented as follows:
DNA sequencers and amplifiers
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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, chemical industry, pharmaceutical industry, food industry, and clinical and forensic laboratories. The demand and further growth of chromatographic application with drive the chromatographic instruments market during the forecast period. There is a growing demand of Electrophoresis and DNA sequencers and amplifiers in the biotechnology, pharmaceutical and healthcare industry.
Life Science and Chemical Instruments Market: 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 chromatography segment.
The major end user of this market includes:
Pharmaceutical and Biotechnology companies
Clinical Research Organizations (CROs)
Research and Academic Institutions
Forensic Science Laboratories
Food and Agriculture Industry;
Environmental Testing Industry
Life Science and Chemical Instruments Market: Regional Outlook
Geographically, the global life science and chemical instruments market is segmented into North America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and African regions. At present, North America dominates the global life science and chemical instruments market 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 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 lab automation segment. Singapore is generating 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.
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Life Science and Chemical Instruments Market: 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.
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