Scientific Instruments Market 2024 - Industry Size, Business Segments, Innovative Strategies And Outlook by 2033

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Scientific Instruments Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $55.59 billion In 2028 At A CAGR Of 6.5% :

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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Scientific Instruments Market Major Segments
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

Key Driver - Surging Testing And Research Facilities Propel The Scientific Instruments Market Amid Global Challenges

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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Prominent Trend - Ai Takes Center Stage In The Scientific Instruments Market, Agilent Technologies Leads With Strategic Acquisition

Artificial intelligence is a key trend gaining popularity in the scientific instruments market. The use of artificial intelligence in research is anticipated to alter current practices significantly. Such advancements enable key players to gain a competitive edge in the market. For instance, in February 2022, Agilent Technologies Inc., a US-based analytical instrumentation development and manufacturing company, acquired artificial intelligence (AI) technology developed by Virtual Control. Agilent plans to utilize the AI in conjunction with its software for mass spectrometry equipment used in combination with both liquid and gas chromatography. The new capabilities automate labor-intensive processes like sampling and report production. Virtual Control is an AI and machine learning software developer.

Scientific Instruments 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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the scientific instruments market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the scientific instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Scientific Instruments Market Report Structure
3. Scientific Instruments Market Trends And Strategies
4. Scientific Instruments Market - Macro Economic Scenario
5. Scientific Instruments Market Size And Growth
…..
27. Scientific Instruments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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This release was published on openPR.