According to a new market research report "Life Science Instrumentation Market by Technology (Spectroscopy, Chromatography, Flow Cytometry, NGS, PCR, Microscopy), Application (Research, Clinical), End User (Pharma-Biotech Companies, Food & Beverage Industry, Hospitals) - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to reach USD 75.24 Billion by 2022 from USD 54.49 Billion in 2017, at a CAGR of 6.7%.
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Browse 106 Market Data Tables and 76 Figures spread through 334 Pages and in-depth TOC on "Life Science Instrumentation Market"
Factors such as the increased spending on pharmaceutical R&D globally, rising food safety concerns, technological advancements in analytical instruments, and funding available for life science research activities are driving the growth of this market.
The next-generation sequencing (NGS) is expected to be the fastest growing technology segment during the forecast period
By technology, the NGS segment is expected to grow at the fastest CAGR during the forecast period (2017-2022). The growth of this segment can primarily be attributed to the increasing focus of key players on technological advancements in sequencing platforms and the growing applications of NGS.
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By application, the research segment is expected to be the fastest growing segment
The research applications segment is expected to grow at the fastest CAGR during the forecast period.
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The growth of this segment can be attributed to the evolving global regulatory scenario for research data publication for analytical instrument-based researches; increasing number of research studies and growing public-private funding in the field of genomic research; and the ongoing trend of laboratory automation & integration of robotics.
North America dominated the market in 2016
Geographically, the Life Science Instrumentation Market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America accounted for the largest share of the market in 2017, followed by Europe.
High adoption rate of novel technologies, the large number of life science research studies conducted in the region, stringent drug development regulations, increased funding for life science research activities, and the growing numbers of metabolomics research studies in North America are the key factors that account for the large share of the Life Science Instrumentation Market in the region.
As of 2016, the major manufacturers operating in the global Life Science Instrumentation Market included Thermo Fisher Scientific, Inc. (US), Danaher Corporation (US), Agilent Technologies, Inc.
(US), F. Hoffmann-La Roche Ltd. (Switzerland), Bruker Corporation (US), PerkinElmer, Inc.
(US), and Waters Corporation (US), Shimadzu Corporation (Japan), Illumina, Inc. (US), Siemens AG (Germany), Horiba Ltd.
(Japan), Bio-Rad Laboratories, Inc. (US), Abbott Laboratories (US), Becton, Dickinson and Company (US), and Hitachi High-Technologies Corporation (Japan), among others.
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