Scientific Instruments Market Analysis, Trends, Size And Insights 2024 To 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Scientific Instruments Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The scientific instruments market size has grown strongly in recent years. It will grow from $40.98 billion in 2023 to $43.29 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to increasing focus on life sciences, government funding for scientific research, environmental monitoring, increasing complexity of scientific inquiries, globalization of research ..

The scientific instruments market size is expected to see strong growth in the next few years. It will grow to $55.59 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to precision medicine and personalized healthcare, emergence of point-of-care testing, rise of regenerative medicine, customization and modular instrument design, regulatory compliance and quality assurance. Major trends in the forecast period include demand for biotechnology, increasing sustainable and green technologies, multi-modal imaging systems, applications in material science, enhanced connectivity and data sharing, global expansion of research and development (r&d) activities..

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Key Market Players:

Major companies operating in the scientific instruments market report are Thermo Fisher Scientific Inc., Agilent Technologies Inc., Bruker Corporation, Danaher Corporation, Waters Corporation, The Merck Group, Horiba Limited, PerkinElmer Inc., F. Hoffmann-La Roche AG, Carl Zeiss AG, 3M Company, Geno Technology Inc., Shimadzu Corporation, Mettler-Toledo International Inc., Oxford Instruments plc, Eppendorf AG, JEOL Ltd., Hitachi High-Technologies Corporation, Malvern Panalytical GmbH, Bio-Rad Laboratories Inc., Becton Dickinson and Company, Illumina Inc., Bio-Techne Corporation, BioTek Instruments Inc., Biochrom Ltd., Beckman Coulter Inc., Sartorius AG, Hamilton Company, Siemens Healthineers AG, Koninklijke Philips N.V. Healthcare

Market Drivers:

The increasing testing and research facilities drives the scientific instruments market. There has been a rapid increase in testing and research facilities due to the spreading virus and increasing efforts to combat its aftereffects. These testing and research facilities require scientific instruments for effective testing and the development of solutions. For instance, according to an article published in January 2023, by the National Center for Science and Engineering Statistics, a US-based statistical agency, the U.S. R&D spend increased by $51 Billion in 2020 to reach $717 Billion and the R&D spending is estimated to increase and reach $792 Billion in 2021. Therefore, an increase in testing and research facilities is driving the scientific instruments market.

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The scientific instruments market covered in this report is segmented -

1) By Type: Clinical Analyzers, Analytical Instruments, Other Types
2) By Application: Research, Clinical and Diagnostics, Other Applications
3) By End User: Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Other End-users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

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