Triton’s report suggests that the Asia-Pacific analytical laboratory instruments market is anticipated to achieve revenue growth at a CAGR of 6.15% during the forecast period 2024-2032. India, China, ASEAN countries, South Korea, Japan, Australia & New Zealand, and the Rest of Asia-Pacific are evaluated in the region’s market.
The analytical laboratory instruments market in India is witnessing significant growth, driven primarily by the government’s increased emphasis on expanding production activities. This growth is particularly fueled by the thriving pharmaceutical sector, which plays a pivotal role in India’s analytical laboratory instruments market. According to the National Investment Promotion & Facilitation Agency of India, the country holds the title of the world’s largest supplier of cost-effective vaccines, accounting for around 60% of global vaccine production.
The expansion of Japan’s analytical laboratory instruments market is chiefly driven by the extensive utilization of these instruments across diverse sectors such as life sciences and forensics. Particularly, the life science domain plays a significant role in augmenting Japan’s market. Given its status as the world’s third-largest pharmaceutical market, Japan holds substantial importance as an export destination for US pharmaceutical products.
COMPETITIVE OUTLOOK
The notable companies in the analytical laboratory instruments market consist of Agilent Technologies, Bruker, Hitachi Limited, JEOL Ltd, and Danaher Corporation.