Press release
Global Analytical Laboratory Instrument Market to Reach $167.94 Billion by 2029, Growing at 7.8% CAGR
Analytical Laboratory Instrument Market Insights
The upward trajectory in the analytical laboratory instruments market is largely influenced by the rapid expansion in life science industries. Factors contributing to this extension include the escalating population of patients dealing with diseases related to lifestyle, such as diabetes and heart complications, as well as grave illnesses like cancer. Also, augmented research and development investment, as well as the increasing age of the population, have driven growth in the life science sector. As an illustration, the US-based national public health agency, Centers for Disease Control and Prevention, recorded that around 37.3 million individuals, which corresponds to 11.3% of the entire US population, were living with diabetes in 2022. Additionally, the Belgium-based non-profit organization, International Diabetes Federation estimated that about 537 million adults across the globe were dealing with diabetes in 2022, a figure expected to skyrocket to 643 million by 2030 and then to 783 million by 2045. Hence, the growth of the life science sector is projected to upsurge the demand for analytical laboratory instruments.
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What Is the projected market size and growth rate for the analytical laboratory instrument market?
The market size of the analytical laboratory instrument sector has seen robust growth in the past few years. It is projected to expand from $114.21 billion in 2024 to $124.52 billion in 2025, experiencing a compound annual growth rate (CAGR) of 9.0%. The previous growth period's ascension can be tied to factors like expanded investment in healthcare, economic development in burgeoning markets, an elder demographic, and heightened consciousness of food testing and rigorous safety regulations.
In the coming years, the market size of analytical laboratory instrument is projected to witness robust growth. By 2029, it is predicted to expand to $167.94 billion with a compound annual growth rate (CAGR) of 7.8%. This growth during the prediction period can be linked to various factors such as advancements in technology, improved healthcare accessibility, and an increasing incidence of chronic ailments. The key trends during the projection period encompass investment in 3D printing technology, big data analytics, automation solutions, research and development in 3D microscopy, strategies for growth via mergers and acquisitions, and the adaptation to cloud technology for enhanced speed and productivity.
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What new trends are reshaping the analytical laboratory instrument market and its opportunities?
Firms within the analytical laboratory instruments market are now developing devices with data recording capabilities for cloud storage. Utilizing cloud technology will expedite scientists' ability to share their findings. TetraScience, a tech company that offers a data integration platform, has come up with a technology to link lab tools that consistently collect data and transfer it to the cloud. This enablement for real-time monitoring and precise result delivery can accelerate research completion. Implementation of such technology into lab apparatus can expedite research processes, reduce required manual labor, and make the entire research journey more cost-effective.
What major market segments define the scope and growth of the analytical laboratory instrument market?
The analytical laboratory instrument market covered in this report is segmented -
1) By Type: Element Analysis, Separation Analysis, Molucular Enalysis, Other Types
2) By Application: Research, Clinical, Diagnostic, Other Applications
3) By End-User: Hospitals, Diagnostic Laboratories, Pharmaceutical, Biotechnology, Other End-users
Subsegments:
1) By Element Analysis: Atomic Absorption Spectroscopy (AAS), Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES), X-ray Fluorescence Spectroscopy (XRF)
2) By Separation Analysis: High-Performance Liquid Chromatography (HPLC), Gas Chromatography (GC), Capillary Electrophoresis (CE)
3) By Molecular Analysis: Mass Spectrometry (MS), Infrared Spectroscopy (IR), Nuclear Magnetic Resonance (NMR) Spectroscopy
4) By Other Types: Microplate Readers, Thermal Analyzers, Elemental Analyzers, Particle Size Analyzers
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Which region dominates the analytical laboratory instrument market?
Asia-Pacific was the largest region in the analytical laboratory instruments market in 2024. North America was the second-largest region in the global analytical laboratory instrument market share. The regions covered in the analytical laboratory instrument market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the analytical laboratory instrument industry growth?
Major companies operating in the analytical laboratory instrument market include Thermo Fisher Scientific Inc., Danaher Corporation, 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, 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, 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, Chemglass Life Sciences Inc., Kimble Chase, SP Industries, Teledyne Tekmar, PerkinElmer, 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
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What Is Covered In The Analytical Laboratory Instrument Global Market Report?
•Market Size Forecast: Examine the analytical laboratory instrument market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the analytical laboratory instrument market for a structured understanding.
•Key Players Overview: Analyze major players in the analytical laboratory instrument market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the analytical laboratory instrument market.
•Segment Contributions: Evaluate how different segments drive overall growth in the analytical laboratory instrument market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the analytical laboratory instrument market.
•Industry Challenges: Identify potential risks and obstacles affecting the analytical laboratory instrument market.
•Competitive Landscape: Review strategic developments in the analytical laboratory instrument market, including expansions, agreements, and new product launches.
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