Life Science Instrumentation Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global life science instrumentation market size is projected to surpass at US$ 91 Bn by 2028 with a rising CAGR of 5.7% from 2021 to 2028.

Rise in prevalence and incidence of infectious diseases across the globe and technological advances are anticipated to augment the global market from 2019 to 2027. The global life science instrumentation market is expected to be driven by rise in R&D activities in biotechnology and pharmaceuticals industries.

Rise in Prevalence and Increase in Incidence Rates of Chronic and Infectious Diseases

Diagnosis of infectious and chronic diseases is one of the leading applications of life science instrumentation. The emergence and outbreak of various infectious diseases has created challenges and new opportunities for researchers to develop diagnostic tools and tests for early diagnosis and prevention of diseases. According to World Health Report published by the WHO, infectious diseases account for approximately 17 million deaths globally every year. Moreover, emergence of new diseases has increased in the past few years. According to reports, several countries have failed to invest adequately in order to control common infectious diseases. This increases demand for diagnostic tools for early detection to prevent the outbreak of infectious diseases. This factor is projected to fuel the growth of the global life science instrumentation market during the forecast period. 

Increase in R&D Activities in Biotechnology and Pharmaceuticals Industries

Pharmaceutical and biotechnology industries are diverting significant capital to R&D activities. This is due to increase in demand for rapid drug development and commercialization of novel drug molecules for the treatment of various rare diseases. According to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA), the pharmaceutical industry spends nearly US$ 150 Bn on R&D every year. In 2015, 56 new drugs were launched and more than 7000 new compounds were in development. Moreover, the number of new drugs developed has increased significantly and these were launched in the past few years. Drug development for diseases such as cancer, cardiovascular disease, neurological, and infectious diseases has increased across the globe. This creates demand for efficient and quick life science instrumentation systems to accelerate the process. This acts as a major driver of the global life science instrumentation market during the forecast period. 

Spectroscopy Segment to Lead Global Market

In terms of technique, the spectroscopy segment dominated the global life science instrumentation market, followed by the immunoassays segment. Spectroscopy plays a vital role in the detection, identification, and quantification of molecules in bio- and life science related fields. Continuous advancements in spectroscopy technologies and increase in demand for real-time analysis of samples are likely to drive the spectroscopy segment during the forecast period. 

Research Applications Segment to Dominate Global Market

In terms of application, research applications is projected to be a highly attractive segment of the global life science instrumentation market, followed by the clinical applications segment. This is attributed to increase in pressure on the pharmaceutical industry to develop new and cost effective medications for various diseases. This in turn creates demand for quick and streamlined processes in drug discovery. The clinical applications segment is anticipated to expand at a high CAGR during the forecast period, due to wide applications of life science instrumentation in diagnostic testing of various diseases. 

North America to Lead Global Market

North America dominated the global life science instrumentation market due to large patient pool, technological advancements, and high acceptance of advanced treatments. The region is projected to continue to dominate the global market during the forecast period. Increase in health care expenditure, rise in prevalence and incidence of chronic infectious diseases, and surge in investments are the key factors anticipated to propel the life science instrumentation market in North America in the next few years. The life science instrumentation market in Asia Pacific is expected to expand at a high CAGR due to increase in demand for rapid and quick diagnostics in developing countries and rise in research initiatives in countries such as Japan and China. 

Major Players Operating in Global Market

Major players operating in the global life science instrumentation market include Danaher, Thermo Fisher Scientific, Inc., Merck KGaA, Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., Illumina, Inc., PerkinElmer, Inc., BD, Bruker, and Hitachi High-Technologies Corporations. 

Market Segmentation

By Technique
Spectroscopy
Chromatography
Polymerase Chain Reaction
Next-generation Sequencing
Clinical Chemistry Analyzers
Flow Cytometry
Immunoassays
Others

By Application
Research Applications
Clinical Applications
Others

By End-user
Research Institutes
Pharmaceutical & Biotechnology Companies
Diagnostic Laboratories
Others

By Regional Outlook
North America
Europe
Asia Pacific
Asia Pacific
Middle East & Africa

Report Scope

The Life science instrumentation market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Life science instrumentation market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Life science instrumentation market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Life science instrumentation market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Life science instrumentation market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Life science instrumentation capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Life science instrumentation by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Life science instrumentation market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Life science instrumentation market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Life science instrumentation market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Life science instrumentation industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Life science instrumentation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Life science instrumentation market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Life science instrumentation market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Life science instrumentation market. These factors have benefited the growth of the global market for Life science instrumentation. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Life science instrumentation. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Life science instrumentation are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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