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Life Science and Chemical Instrumentation Market: Detailed Analysis, Growth Drivers, Market Segmentation, and Competitive Insights Fuel Growth
Life Science And Chemical Instrumentation Market
Life Science And Chemical Instrumentation 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 life science and chemical instrumentation market size has grown strongly in recent years. It will grow from $55.49 billion in 2023 to $59.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to increasing r&d activities, stringent regulations, growing healthcare expenditure, globalization of research, government regulations.
The life science and chemical instrumentation market size is expected to see strong growth in the next few years. It will grow to $79.86 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing regulatory complexity, expanding applications in personalized medicine, growth of emerging markets, rising focus on environmental testing. Major trends in the forecast period include technological advancements in analytical instruments, product innovations, focus on green and sustainable technologies, integration of iot and big data analytics.
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Life Science And Chemical Instrumentation Market Major Segments
The life science and chemical instrumentation market covered in this report is segmented -
1) By Technology: Polymerase Chain Reaction (PCR), DNA Sequencers and Amplifiers, Flow Cytometry, Spectroscopy, Electrophoresis, Chromatography, Centrifuges, Other Technologies
2) By Application: Cell Culture And Cell Therapy, Cancer Research, Drug Discovery, Genomics, In Vitro Fertilization, Bioprocess, Metabolomics, Proteomics, Other Applications
3) By End Users: Hospitals And Diagnostic Centers, Pharmaceutical And Biotechnology Companies, Contract Research Organization (CRO), Academia And Research Institutes
Key Driver - Rising Chronic Disease Prevalence Propels Growth In The Life Science And Chemical Instrumentation Market
The growing prevalence of chronic diseases is expected to boost the growth of the life science and chemical instrumentation market going forward. A chronic disease is a disease or condition that lasts for a year or longer and may get worse over time, necessitate continuous medical care, restrict daily activities, or both. Cancer, heart disease, stroke, diabetes, and arthritis are the most prevalent types of chronic diseases. Life science and chemical instrumentation are utilized to serve the purposes of a quality test of the products, control and monitor the process in manufacturing plants, test the quality of food products, and handle laboratory information on chronic diseases. For instance, in September 2022, according to the World Health Organization, a Switzerland-based specialized agency of the United Nations for international public health, noncommunicable diseases (NCDs), commonly referred to as chronic diseases, account for 41 million annual fatalities, or 74% of all fatalities worldwide. The majority of NCD deaths, or 17.9 million people per year, are caused by cardiovascular diseases, which are followed by cancer (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million). Therefore, the growing prevalence of chronic diseases is driving the growth of the life science and chemical instrumentation market.
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Prominent Trend - Advancements In Analytical Instruments Drive Innovation In The Life Science And Chemical Instrumentation Market
Technological advancements in analytical instruments are a key trend gaining popularity in the life science and chemical instrumentation market. Major companies operating in the life science and chemical instrumentation market are focused on providing innovative technologies to strengthen their position in the market. For instance, in October 2021, Bruker Corporation, a US-based manufacturer of scientific instruments for molecular and materials research and industrial and applied analysis, launched the large-sample Dimension IconIR nanoscale infrared spectroscopy and chemical imaging system. Due to the incorporation of Bruker's exclusive PeakForce Tapping mode, the new large-sample platform offers the most complete correlative microscopy solution for quantitative nano chemical, nanomechanical, and nano electrical characterization. IconIR provides greatly greater flexibility and adaptability to enable ground-breaking research across a broad spectrum of polymer, geoscience, semiconductor, and life science applications.
Life Science And Chemical Instrumentation Market Players
Major companies operating in the life science and chemical instrumentation market report are Agilent Technologies Inc., Becton Dickinson and Company, Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, PerkinElmer Inc., Thermo Fisher Scientific Inc., Waters Corporation, F. Hoffmann-La Roche Ltd., Illumina Inc., Shimadzu Corporation, General Electric Healthcare LLC, Hitachi High-Technologies Corporation, JEOL Ltd., Oxford Instruments plc, Rigaku Corporation, Sigma-Aldrich Corporation, SRI Instruments, Analytik Jena AG, Biochrom Ltd., BioTek Instruments Inc., Cole-Parmer Instrument Company LLC, Eppendorf AG, Harvard Bioscience Inc., HORIBA Ltd., Labconco Corporation, Mettler-Toledo International Inc., New England Biolabs Inc., QIAGEN N.V.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the life science and chemical instrumentation market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the life science and chemical instrumentation 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. Life Science And Chemical Instrumentation Market Report Structure
3. Life Science And Chemical Instrumentation Market Trends And Strategies
4. Life Science And Chemical Instrumentation Market - Macro Economic Scenario
5. Life Science And Chemical Instrumentation Market Size And Growth
…..
27. Life Science And Chemical Instrumentation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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