Home / Biotechnology / Life Science Instrumentation Market By Technology (Spectroscopy, Chromatography, Polymerase Chain Reaction, Next Generation Sequencing, Clinical Chemistry Analyzers, Flow Cytometry and Immunoassays), By End User (Research Institutes, Pharmaceutical & Biotechnology Companies and Diagnostic Laboratories) - Growth, Future Prospects & Competitive Analysis, 2022 – 2030

Life Science Instrumentation Market By Technology (Spectroscopy, Chromatography, Polymerase Chain Reaction, Next Generation Sequencing, Clinical Chemistry Analyzers, Flow Cytometry and Immunoassays), By End User (Research Institutes, Pharmaceutical & Biotechnology Companies and Diagnostic Laboratories) - Growth, Future Prospects & Competitive Analysis, 2022 – 2030


Industry Outlook

The life science instrumentation market is set to reach US$ 107,344.2 Mn by 2030 from US$ 68,336.6 Mn in 2021 showcasing moderate growth at a compounded annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.  Technological advancement in life science instruments and stringent healthcare norms pertaining to food and drug manufacturing processes drive market growth for life science instrumentation techniques. Rising public health awareness and proactive government policies to curb the mortality associated with chronic diseases further propel the demand for life science instrumentation technology in pharmaceutical and biotechnology companies. 

"Lack of sample preparation for analysis and wide applicability during quality control of end products across life science industry increases demand for spectroscopy technology"

Spectroscopy is a very old and reliable technology that is very popular among researchers working in life science industry. It currently holds the largest market in the technology segment for life science instrumentation market. Ease of handling, lack of sample preparation and wide utilization during quality control of end products across life science industry drives the spectroscopy technology market growth. Next-generation sequencing is set to capture the market in the near future on account of its ease of creating biological sequences for complex samples at low cost and speed and its wide application in the development of personalized medicine.

"Burgeoning requirement of novel drugs and stringent norms stipulated by healthcare agencies worldwide drive the pharmaceutical and biotechnology companies market"

Pharmaceutical and biotechnology companies are the largest revenue holder in the end user segment for life science instrumentation market. Stringent guidelines stipulated by healthcare agencies worldwide pertaining to cGMP and GLP during drug discovery and development drive the market growth for pharmaceutical and biotechnology companies. Burgeoning requirement of novel drugs to treat chronic diseases further propel the demand of life science instrumentation technology in pharmaceutical and biotechnology industries. Diagnostic laboratories will register fastest growth in the near future owing to rising public health awareness resulting in early disease diagnosis and availability of skilled labor force to perform precise and accurate screening and interpretation of analytical and biological samples.

"Existence of well-developed pharmaceutical and biotechnology companies and flourishing research activities drive the market growth in North America"

North America is presently leading the regional segment for life science instrumentation market holding 32% market share. The drivers associated with its market growth are existence of well developed pharmaceutical and biotechnology companies and flourishing research activities. Significant rise in the number of patients suffering with lifestyle disorders triggers the need for development of safe and efficacious drugs for treatment in the region. Europe is in the second position representing 30% market share owing to the presence of major players such as Merck KGaA, Agilent Technologies, Inc., Illumina, Inc. etc. in the western European region. Eastern European region serves as a lucrative market opportunity for western giants to establish subsidiaries and retail outlets. Asia Pacific holds 25% market share on account of rising prevalence of chronic disease and huge government expenditure to execute research activities pertaining to drug discovery and development.

Medical device-producing companies actively engaged in the manufacturing of life science instrumentation technology are Agilent Technologies, Inc., Bruker Corporation, Bio-Rad Laboratories, Inc., Danaher Corporation, Illumina, Inc., Merck KGaA, PerkinElmer, Inc., Shimadzu Corporation, Thermo Fisher Scientific, Inc. and Waters Corporation.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Life Science Instrumentation market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Life Science Instrumentation market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2020-2030
Base Year 2021
Forecast Period  2022-2030
Historical Year  2020
Unit  USD Million
Segmentation
Technology
  • Spectroscopy
  • Chromatography
  • Polymerase Chain Reaction
  • Next Generation Sequencing
  • Clinical Chemistry Analyzers
  • Flow Cytometry
  • Immunoassays

End User
  • Research Institutes
  • Pharmaceutical and Biotechnology Companies
  • Diagnostic Laboratories

 Region Segment (2020–2030; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa
Global Impact of Covid-19 Segment (2020-2021; US$ Million )
  • Pre Covid-19 situation
  • Post Covid-19 situation

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Life Science Instrumentation market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2030.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Life Science Instrumentation market?
  • Which is the largest regional market for Life Science Instrumentation market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Life Science Instrumentation market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Life Science Instrumentation market worldwide?
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