Global Life Science Instrumentation Market Size, Trends, By Technology (Spectroscopy, Chromatography, PCR, Immunoassays, Lyophilization, Liquid Handling, Clinical Chemistry Analyzers, Microscopy, Flow Cytometry, Next-Generation Sequencing, Centrifuges, Electrophoresis, Cell Counting, Others), By Application (Research Applications, Clinical and Diagnostic Applications, Others), By End User (Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Agriculture and Food Industries, Environmental Testing Labs, Clinical Research Organizations, Others), By Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa): Growth Opportunity Analysis and Industry Forecast, 2023-2030.
Global Life Science Instrumentation Market
The Global Life Science Instrumentation Market was valued at USD 59.5 billion in 2022 and is expected to expand to USD 100.4 billion by 2030, at a CAGR of 6.4% during the forecast period 2023-2030.
Life science instrumentation is the equipment that is typically used to serve the purpose of a quality test of the products, monitors, and controls the process in manufacturing plants. Generally, life science instrumentation is considered the integration of biological sciences, physics, and engineering. These instrumentations are largely used during drug discovery for analytical procedures and during method validation.
Market Drivers
The increase in the prevalence of target infectious diseases and genetic disorders is an important factor driving the growth and demand of the life science instrumentation market. Also, the high adoption of flow cytometry techniques in research & academia and the rising outsourcing of sterilization services are contributing towards the growth in the global life science instrumentation market over the forecast period.
Furthermore, the growing incidence of hospital-acquired infections and rapid advancements in NGS technology are also significant factors boosting the growth of the market. Growing investment opportunity in pharmaceutical R&D makes sure high industry growth over the forecast period of 2030.
Market Restraints
The high cost of instruments, lack of skilled labor technical limitations related to qPCR & dPCR techniques, and high cost of advanced microscopes will restrain the growth of the life science instrumentation market. Also, the inadequate infrastructure for research in emerging economies and pricing intimidate challenge the growth of the life science instrumentation market.
Market Segmentation
The global life science instrumentation market is segmented into technology (spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing, centrifuges, electrophoresis, cell counting, others), application (research applications, clinical and diagnostic applications, others), and end-user (hospitals and diagnostic laboratories, pharmaceutical and biotechnology companies, academic and research institutes, agriculture and food industries, environmental testing labs, clinical research organizations, others.
Regional Analysis
The global life science instrumentation market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North American region is expected to dominate the global life science instrumentation market owing to the presence of major key players and the rise in product launches within the region.
The Asia-Pacific region is expected to expand at a significant growth rate over the forecast period due to the rapid increase in outsourcing activities in the life science division as well as the increasing pharmaceutical industry in India & China within the region.
Key Players
Various key players are discussed in the global life science instrumentation market report including; Agilent Technologies, Inc., BD, QIAGEN, Bio-Rad Laboratories, Inc., Bruker, Danaher, Eppendorf AG, Cytiva, Hitachi High-Tech Corporation, HORIBA, Ltd., Merck KGaA, PerkinElmer, Inc., and Others.
Market Taxonomy
By Technology
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