Life Science Instrumentation Market 2024 - By Size, Industry Scope, Global Share, Key Country Analysis And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Life Science Instrumentation Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The life science instrumentation market size has grown strongly in recent years. It will grow from $62.06 billion in 2023 to $66.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to the rise of personalized medicine, expansion of the biotechnology sector, government funding and grants, emergence of new diseases and health threats, aging population and chronic diseases.

The life science instrumentation market size is expected to see strong growth in the next few years. It will grow to $86.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to environmental and climate change research, increasing government and private funding, regulatory compliance and standards, the emergence of infectious diseases, and expanding applications in food and agriculture. Major trends in the forecast period include advancements in genomics, AI and machine learning integration, miniaturization and portability, automation and robotics, and the adoption of digital and cloud-based solutions.

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Market Drivers and Trends:

The increasing incidence of genetic disorders is expected to propel the growth of the life science instrumentation market going forward. Genetic disorders refer to diseases or conditions caused by abnormalities in an individual's DNA or chromosomes. The incidence of genetic disorders is growing due to advancements in diagnostic technologies, increased awareness, and changes in reproductive patterns. Life science instruments are utilized by genetic disorder patients to diagnose, monitor, and develop targeted therapies by analyzing genetic material and biomarkers. For instance, in May 2023, according to the Alzheimer Society, a UK-based dementia care and research charity, approximately 982,000 people are living with dementia in the UK, and this number is expected to increase to 1.4 million by 2040. Therefore, the increasing incidence of genetic disorders is driving the growth of the life science instrumentation market.

Major companies operating in the life science instrumentation market are focused on developing innovative solutions, such as advanced milling technology, to enhance precision and efficiency in sample preparation and analysis. Milling technology refers to sophisticated techniques and equipment used to achieve high precision and efficiency in the mechanical processing of materials, including sample preparation in life science research. For instance, in August 2022, Thermo Fisher Scientific Inc., a US-based life science and clinical research company, launched the Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB), an advanced automated microscope designed to significantly enhance cryo-electron tomography (cryo-ET) research. This cutting-edge system includes an autoloader capable of handling up to 12 grids, allowing for robotic handling that reduces contamination risks and increases sample processing efficiency. Additionally, it features an integrated fluorescence microscope (iFLM) that enables researchers to simultaneously observe samples using light, ion, or electron beams, allowing for precise targeting and verification of areas before and during the milling process.

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Major Key Players of the Market:

Thermo Fisher Scientific Inc., Roche Diagnostics International Ltd., Danaher Corporation, Merck KGaA, Becton Dickinson and Company, GE HealthCare Technologies Inc., Agilent Technologies Inc., Hitachi High-Technologies Corporation, Nikon Corporation, bioMérieux S.A., Shimadzu Corporation, PerkinElmer Inc., Waters Corporation, Bio-Rad Laboratories Inc., Bruker Corporation, QIAGEN N.V., Horiba Ltd., Eppendorf AG, Tecan Trading AG, JEOL Ltd., Leica Microsystems, Cytek Biosciences Inc., Sigma Laborzentrifugen GmbH

Life Science Instrumentation Market 2024 Key Insights:

• The life science instrumentation market size is expected to see strong growth in the next few years. It will grow to $86.20 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%.
• Rising Incidence Of Genetic Disorders Boosts Life Science Instrumentation Market
• Advancements In Life Science Instrumentation Enhances Precision In Cryo-Electron Tomography
• North America was the largest region in the life science instrumentation market in 2023

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