Press release
Analytical Instrument Market is to grow at a 7.52 % CAGR, with the United States leading the market through 2030
Analytical Instrument Market
The Analytical Instrument Market was USD 49.93 Bn in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 7.52 % from 2023 to 2030, reaching USD 82.94 Bn by 2030. The need for analytical tools for environmental monitoring is being driven by growing concerns about environmental pollution, climate change, and sustainability. Due to its ability to measure pollution levels, devices such as gas analyzers, water quality testing apparatus, and air pollution monitors are becoming more and more common. Emerging countries in Africa, Latin America, and Asia-Pacific are seeing rapid improvements in healthcare, and industrialization. North America's 2024 valuation was $14.6 billion, and by 2033, it is predicted to reach $18.0 billion.
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Analytical Instrument Market Segmentation
By Product: In 2024, the Chromatography market is projected to be worth over $9.2 billion and is anticipated to expand at a compound annual growth rate (CAGR) of 6.5% between 2024 and 2030. At a CAGR of 7.5%, the worldwide molecular spectroscopy market is expected to reach $9.8 billion by 2029 from $6.8 billion in 2024. The mass spectrometry market is expected to expand at a CAGR of 8.7%, from $7.5 billion in 2024 to $11.3 billion by 2030.
By End User: Analytical instrument sales in the biological sciences are anticipated to expand at a CAGR of about 7.5%. A CAGR of 5.3% is anticipated for the research and academic industry. At a CAGR of 4.5%, the chemical and petrochemical industry is predicted to increase moderately. A compound annual growth rate (CAGR) of 6.8% is expected for the material sciences category.
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Analytical Instrument Market Regional Analysis
The North American analytical instrument market is expected to grow at a compound annual growth rate (CAGR) of 5.81% from its 2024 valuation of $9.15 billion to $12.14 billion by 2029. United States, Canada, and Mexico are the countries dominating the market. The United States is a significant market because of its extensive network of medical facilities, research labs, and academic institutions.
The European analytical instrument market is anticipated to grow at a CAGR of 5.2% from 2024 to 2030. Germany, France, the United Kingdom, Italy, and Spain are the major countries dominating the market. Thermo Fisher Scientific, Agilent Technologies, PerkinElmer, and Horiba Scientific are the major key players dominating the market.
Asia-Pacific, from 2024 to 2030, the Asia-Pacific analytical instrument market is anticipated to increase at a compound annual growth rate (CAGR) of 8.0%, driven mostly by China and India. Thermo Fisher Scientific, Agilent Technologies, Horiba Scientific, and PerkinElmer are the major key players that dominate the market.
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Analytical Instrument Market Competitive Landscape
Thermo Fisher Scientific: Fisher acquired Life Technologies, for $13.6 billion. Thermo Fisher acquired Phadia, a pioneer in immunodiagnostics and allergy testing for approximately $3.5 billion. Also, Thermo Fisher acquired Patheon for $7.2 billion.
Agilent Technologies: In 2022, Agilent acquired BioTek Instruments for approximately $1.16 billion. Agilent acquired Dako's genomics solutions company for $2.2 billion. Acquisition of Varian was completed by Agilent for $4.275 billion.
PerkinElmer: In 2022, PerkinElmer acquired BioLegend for $5.25 billion. Also for $200 million, PerkinElmer acquired CambridgeSoft. Acquisition of Akoya Biosciences was completed by PerkinElmer for $380 million.
Conclusion
The future of analytical instrumentation is anticipated to be shaped by automation, artificial intelligence, and cloud-based solutions, which will further expand its capabilities and accessibility for a variety of applications.
with technical advancements, strategic R&D investments will propel the market ahead, assisting industries in meeting future difficulties while maintaining precision, safety, and compliance.
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