Life Science Instrumentation Market Growing at a CAGR of 5.9% - Research Provides Detailed Analysis of Trends, Growth and Forecast

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.

The growth is driven largely by factors, such as increasing expenditure on research & development by pharmaceutical & biotechnology companies, growing public & private funding for life science research, and rising incidence of target diseases & genetic disorders. The emerging markets and increasing demand for analytical instruments are expected to present avenues of growth for market players.

Recent Developments:

- In 2019, Danaher Corporation (US) signed an agreement with GE Healthcare (US). Under the agreement terms, Danaher will acquire the biopharma business of GE Healthcare.

- In 2019, Shimadzu Corporation (Japan), entered into an agreement with Earle A. Chiles Research Institute (Providence), (US). The agreement will focus on the application of mass spectrometry technology to develop tools for personalized cancer immunotherapeutics.

- In 2019, Thermo Fisher Scientific, Inc. (US) and Owlstone Medical (UK) entered into an agreement
Under which, both the companies will integrate Thermo's Q Exactive GC Hybrid Quadrupole-Orbitrap MassSpectrometer into Owlstone Medical's Breath Biopsy platform.

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By technology, the next-generation sequencing segment is expected to grow at the highest rate during the forecast period
Based on technology, the life science instrumentation 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 next-generation sequencing (NGS) segment is expected to grow at the highest CAGR during the forecast period, 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 is expected to fuel the growth of life science instrumentation market during the forecast period.

By type, the molecular spectroscopy segment was the largest contributor to the spectroscopy technologies market in 2019
The market for spectroscopy technologies, by type, comprises mass spectrometry, molecular spectrometry, and atomic spectrometry. Molecular spectrometry accounted for the largest share of the spectrometry technologies market in 2019. The large share could be attributed to the wide application of this technology and the presence of stringent regulatory guidelines for drug development and safety.

The research application segment was the largest contributor to the life science instrumentation market in 2019
The research application segment accounted for the largest share of the life science instrumentation application market in 2019. The large share of the research applications segment can be attributed to evolving global regulatory scenarios for research data publication in analytical instruments-based researches, an increasing number of research studies coupled with growing public-private funding in the field of genomic researches, and the ongoing trend of laboratory automation & integration of robotics.

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Asia Pacific is expected to grow at the highest CAGR in the life science instrumentation market during the forecast period

The Asia Pacific is one of the major revenue-generating regions in the life science instrumentation industry. The strategic expansions by key market players in emerging Asian countries, the growing pharmaceutical industry in India & China, and conferences, exhibitions, & meetings on analytical instruments is driving growth in the region.

Key Market Players;

The vendors operating in the global life science instrumentation market include 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).

An analysis of the market developments between 2017 and 2020 revealed that several growth strategies such as product launches & enhancements, partnerships, and strategic acquisitions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the life science instrumentation market. Among these business strategies, product approval & launches, acquisition, partnerships, and agreements were the most widely adopted growth strategies by market players.

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This release was published on openPR.