LONDON--(BUSINESS WIRE)--According to the latest market research report by Technavio, the global scientific instrumentation market is expected to surpass USD 35,850 million in revenue by 2019.
In this report, Technavio covers the present scenario and growth prospects of the global scientific instrumentation market for 2015-2019. This report covers scientific instrument products in categories that include clinical analyzers and analytical instruments.
“Rapid growth of the e-commerce industry over the past couple of years has led to a whole new world of opportunities for scientific instrument manufacturers with respect to supply and expansion. With almost 35% of the global sales and orders for laboratory equipment coming through e-commerce retailers, this channel has contributed immensely to the growth of the global scientific instrument market over the past couple of years,” said Amber Chourasia, one of Technavio’s lead industry analysts for lab equipment.
“The global e-commerce industry is expected to grow at a CAGR of over 15% over the next five years. E-commerce has enabled manufacturers to cater to new geographies and has also simplified distribution. This trend will likely continue and drive the growth of the global scientific instrument market during the forecast period,” added Amber.
Global scientific instrumentation market by geographical segmentation 2014
- Americas 39.8%
- EMEA 33.8%
- APAC 26.4%
Source: Technavio research
Request sample report: http://bit.ly/20UFwoW
Americas: largest region for the global scientific instrumentation market
The scientific instrument market in the Americas emerged as the largest revenue contributor in 2014, accounting for close to 39.8% of the overall revenue. The US, a leading country in this region, is home to several major vendors of this market. The growth of the market in this region is therefore largely attributed to investments in research and testing done in the US. Research laboratories, food testing centers, and educational institutions in the US exhibit high budgetary spending capacity for testing and research purposes, and this trend is expected to boost the demand for scientific instruments during the forecast period.
Countries such as Brazil, Chile, and Colombia are also expected to grow in terms of research and development in the Americas. Although an increase in the number of laboratories may be relatively low in the US when compared to countries in APAC, a fair share of the revenue is predicted to be generated from replacement of old products in existing laboratories.
EMEA: second largest region for the global scientific instrumentation market
The scientific instrumentation market in EMEA emerged as the second largest contributor to the global market with a share of around 33.8% in 2014. Research and innovation in EMEA is concentrated within a few countries, such as Germany, France, and the UK. Due to the recent economic instabilities in certain countries in EU, the overall market in this region is expected to exhibit moderate growth over the forecast period. However, Germany, France and the UK are anticipated to retain their dominance over the market until 2019.
Scientific instrument market in APAC
Research and testing facilities in APAC have been improving in terms of research capabilities and the availability of funds for the purchase of latest testing equipment. Although, the scientific instrumentation market in APAC is the smallest market, this region is expected to record the fastest growth over the next four years. Migration and outsourcing of R&D facilities of a majority of US and Western European companies to APAC is further expected to drive the market during this period. Technavio researchers predict, by 2019, countries such as Singapore, South Korea, China, and India will likely emerge as the largest contributors to the growth of the scientific instrument market in this region.
Browse related reports:
- Global Laboratory Analytical Instrumentation Market- Industry Analysis 2015-2019
- Global Process Analytical Instruments Market 2015-2019
- Global Mass Spectrometry Market 2015-2019
- Global Microscopy Device Market- Market Research Report 2015-2019
Purchase any three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact enquiry@technavio.com with your requirements and a link to our subscription platform.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
