Extensive Use of Analytical Instruments in the Life Science Industry Across the Globe is Expected to Boost the Growth of the Global Life Science & Analytical Instruments Market at a CAGR of 7.00% During the Forecast Period of 2023 to 2032

Pune, India, June 2023, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global Life Science & Analytical Instruments Market.

Global Life Science & Analytical Instruments Market Highlights

Life Science & Analytical Instruments Market is expected to register a CAGR of 7.00% during the forecast period (2023-2032), with a market value of USD 133.2882929 Billion by 2032.

Life science & analytical instruments have been growing at a rapid pace over the last few years. Life science analytical instruments are medical devices used in hospitals, diagnostic laboratories, and pharmaceutical companies. These instruments have a wide range of applications, such as analyzing the quality of materials, analyzing the component, and composition to be used in drug development.

The key factors driving the market growth are extensive use of analytical instruments in the life science industry, increasing demand for analytical instruments, and growing research and development in the life science industry. However, factors such as high cost of instruments and heavy maintenance and a dearth of skilled professionals hamper the market growth. The innovation and launch of new analytical instruments used in the life science industry act as an opportunity for the market. 

Segment Analysis

The Global Life Science & Analytical Instruments Market is segmented into Type, Application, and End User. Based on type, the market has been segmented into chromatography, spectroscopy, PCR, microscopy, next-generation sequencing, flow cytometry, next-generation sequencing, centrifuges, electrophoresis, centrifuges, cell counting, and others. Based on the application, the global life science & analytical instruments market has been categorized as research applications, clinical and diagnostics applications, others. On the basis of end-user, the market has been segmented into hospitals and diagnostic laboratories, pharmaceutical and biotechnology companies, and others.

Regional Analysis

The Global Life Science & Analytical Instruments Market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.

The Americas are expected to hold the largest share of the global life science & analytical instruments market. This is owing to the increasing prevalence of chronic diseases, rising geriatric population, and lifestyle disorders, which are boosting the market growth in this region.

The Europe market holds the second-largest position in the global life science & analytical instruments market due to the growing number of clinical trials, and the presence of a large number of research institutions and academic organizations in the region drives the market growth in this region. 

Asia-Pacific is estimated to be the fastest-growing region owing to the developing healthcare infrastructure, a large number of research organizations, and the presence of economically developing countries such as India, China, and Japan.

The life science & analytical instruments market in the Middle East & Africa accounts for the least market share due to the adequate healthcare infrastructure support accounted for a relatively smaller market share in 2018.

Explore In-depth Details: Life Science & Analytical Instruments Market Research Report

Market Players

MRFR recognizes the following companies as the key players in the Global Life Science & Analytical Instruments Market— PerkinElmer, Inc.(the US), Agilent Technologies, Inc (US), Danaher (US), Shimadzu Corporation (Japan), Merck KGAA (Germany), Thermo Fisher Scientific (US), Becton, Dickinson, and Company (US), Bio-Rad Laboratories, Inc.(US), Qiagen (Germany), General Electric Company (US), and others.

Key Findings of the Study

• The Global Life Science & Analytical Instruments Market was valued at USD77.575 Billion in 2023, is estimated to grow at USD 133.2882929 Billion by 2032 at a CAGR of 7.00% during the assessment period.

• America accounted for the largest share of the global market due to the presence of a large number of medical device companies such as Agilent Technologies, Inc, Danaher, PerkinElmer, Inc, and others offering life science analytical instruments.

• Based on types, the spectroscopy segment accounted for the largest market share in 2018.

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