The global life science instrumentation market accounted for a value of USD 55.5 billion in 2019 and is projected to register growth at a CAGR of 5.1% during forecast period.
COID-19 has impacted the life science instrumentation market. The outbreak of corona virus globally, the research activities are increasing around the world. The cases of corona virus are increasing in the world which increases and lockdown has been imposed in order control the transmission of this virus. The demand for vaccine is rapidly increasing and this increases the research activities which require life science instrumentation. The demand for life science instrumentation is increasing due COVID-19.
For more details, visit: Global Life Science Instrumentation Market By Technology (Spectroscopy, PCR, Others), By Application (Research Application, Clinical & Diagnostic Application, Others), By End-Users (CRO, Others), By Region, Forecast & Opportunities to 2026
The incidence of genetic diseases and target diseases is increasing rapidly. The governments across various countries are adopting policies to support pharmaceutical R&D due to rising health concerns. The awareness about food safety is also increasing around the world. This increases use of life science instrumentation around the world and boost growth for life science instrumentation market during forecast period.
On the basis of technology, the life science instrumentation market is segmented into spectroscopy, chromatography, PCR, liquid handling, clinical chemistry analyzers, flow cytometry, next generation sequencing, centrifuges, electrophoresis, cell counting and others. The next generation sequencing segment is estimated to register growth at highest CAGR during forecast period. The next generation sequencing (NGS) segment offers various advantages n DNA sequencing, which minimizes the need for fragment cloning methods. The technological advancement is rapidly increasing and availability of low cost sequencing platforms is increasing. The adoption of NGS segment is increasing and this drives growth in NGS segment during forecast period.
On the basis of application, the life science instrumentation market is segmented into research application, clinical & diagnostic application and others. The research application segment accounted for the largest market share in 2019 and it is estimated to dominate the market during forecast period. The number of research studies is increasing in research segment and investment from public and private sectors is increasing around the world. The trend for of laboratory and integration of robotics is rapidly increasing and this increases the adoption of life science instrumentation in research application during forecast period.
Asia-Pacific region is estimated to register growth at highest CAGR during forecast period. This region is considered to be one of the major revenue generating regions in life science instrumentation industry. The demand and adoption of life science instrumentation is rapidly increasing due to increase in research and development activities. This drives growth in Asia-Pacific region during forecast period.
The key market players in life science instrumentation industry are Agilent Technologies, Becton, Dickinson and Company, Bio-Rad Laboratories Inc., Bruker Corporation, Danaher Corporation, Eppendorf AG, GE Healthcare, Horiba Ltd., Merck KGAA, Perkinelmer Inc., Qiagen N.V., Shimadzu Corporation, Thermo Fisher Scientific inc., Waters Corporation, Biomerieux S.A., Jeol Ltd. and Carl Zeiss AG.
- What are the expected industry trends over the next three to five years?
- Which of the life science instrumentation technology is likely to lead by 2026?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2026?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?