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Analytical Laboratory Instrument Global Market Report 2024 To 2033 | Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Shimadzu Corporation
Analytical Laboratory Instrument Market Share
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According to The Business Research Company's, The analytical laboratory instrument market size has grown strongly in recent years. It will grow from $109.85 billion in 2023 to $118.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increases in healthcare expenditure, economic growth in emerging markets, an aging population, and rising awareness about food testing and stringent regulations for safety.
The analytical laboratory instrument market size is expected to see strong growth in the next few years. It will grow to $158.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to factors including technological advances, increase in healthcare access and rising prevalence of chronic diseases. Major trends in the forecast period include investing in 3d printing technology, big data analytics, automation solutions, investing in the development of 3d microscopes, m&a growth strategies and adaptability to cloud technology for higher speed and efficiency.
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Market Drivers and Trends:
The rapid growth in life science industries contributed to the growth of the analytical laboratory instruments market. A growing patient population suffering from lifestyle-related problems such as diabetes and heart-related problems, and other life-threatening diseases such as cancer and growing investment in research and development, and an increasingly aged population aided the growth in the life science industry. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Additionally, for instance, in December 2021, according to the International Diabetes Federation, a Belgium-based leading global diabetes community approximately 537 million adults are suffering from diabetes globally, whereas 3 out of 4 adults are in low- and middle-income countries. This rapid growth in population depending on the life sciences market will increase the necessity to conduct lab researches that require analytical laboratory instruments thereby increasing the demand for laboratory instruments. Therefore, the growing life science industry is expected to drive the market for analytical laboratory instruments.
Companies in the analytical laboratory instruments market are manufacturing equipment with the ability to record data and provide it to the cloud. The use of cloud technology will assist scientists in sharing the results sooner. For instance, TetraScience, a technology company that provides a platform for data integration, developed a technology to integrate lab equipment that collects data continuously and provides it to the cloud. This will help monitor the equipment in real-time and provide accurate results making the research complete faster. Incorporating such technology into the equipment will help complete the research sooner, reduce manual work, and makes the research cost-efficient.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Danaher Corporation, Agilent Technologies Inc., Shimadzu Corporation, F. Hoffmann-La Roche AG, Bruker Corporation, Mettler-Toledo International Inc., Waters Corporation, PerkinElmer Inc., Bio-Rad Laboratories Inc., Scientific Solutions, Metrohm AG, SUEZ Water Technologies and Solutions, Ionicon Analytik Ges.m.b.H., AMETEK Spectro Scientific, Elvatech Ltd., Myron L Company, LabGeni, LABOAO, Agilent Technologies Co. Ltd, QIAGEN, Yamato Scientific co. Ltd., Ace Instruments & Services Pvt Ltd., Aczet Pvt Ltd, Anton Parr India Pvt Ltd, Toshvin Analytical Pvt. Ltd., Advance Scientific Equipment Pvt. Ltd., Peak Scientific Instruments, Thermo Fisher Scientific K.K., AMETEK Inc., Spectris plc, Specac Limited, Markes International Ltd, Signal Group Ltd, NanoMagnetics Instruments Ltd, Sherwood Scientific Ltd, Malvern Panalytical, Cleaver Scientific Ltd, MRC, Cole-Parmer Instrument Company Ltd, Anton Paar Ltd., BWB Technologies Ltd, Systech Instruments Ltd, Appleton Woods Ltd, PAC L.P., A.KRÜSS Optronic GmbH, F-DGSi, Grant Instruments, Seaward Electronic Ltd, Endress+Hauser, Nanosurf, WITec GmbH, ZEISS Group, Sartorius AG, Eppendorf, Stable Micro Systems, Bruker OOO, ECROSKHIM Co. Ltd., Keithley Equipment, Laboratory Equipment and Instruments (LOIP), Agilent Ukraine, Rostec, Agilent Technologies, Bio-Rad Laboratories, Chemglass Life Sciences Inc., Kimble Chase, SP Industries, Bruker, Teledyne Tekmar, PerkinElmer, Spectro Scientific, AMETEK Process Instruments, Saifi International Co., National Scientific Co. Ltd., Ghiath Mohammad Kaki Est., BDH Middle East LLC, Maa Scientific International LLC, Tungsten Analytical Testing Equipment Trading LLC, RotaLab, SEM GROUP, Rhenium, CSI Analytical Innovations, Silicol-Silicol Scientific Equipment Ltd, Analytik Jena AG, Labotec, Wirsam Scientific, Labex (PTY) Ltd., Labstock (Nigeria) Limited, Estec Ltd
Analytical Laboratory Instrument Market 2024 Key Insights:
• The analytical laboratory instrument market size is expected to see strong growth in the next few years. It will grow to $158.81 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%.
• Rapid Growth In Life Science Industries Drives Demand For Analytical Laboratory Instruments
• Cloud-Enabled Analytical Laboratory Instruments Accelerate Research And Data Sharing
• Asia-Pacific was the largest region in the analytical laboratory instruments market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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