DUBLIN--(BUSINESS WIRE)--The "Life Science Instrumentation Market by Technology [Spectroscopy, Chromatography, Flow Cytometry, NGS, PCR,, Microscopy], Application (Research, Clinical), End User (Pharma-Biotech, Agri and Food Industry, Hospitals & Diagnostic Labs) - Global Forecasts to 2025" report has been added to ResearchAndMarkets.com's offering.
The global life science instrumentation market is projected to reach USD 79,901.3 million by 2025 from USD 56,731.9 million in 2019, at a CAGR of 5.9%.
The growth of the market is attributed to increasing spending on pharmaceutical R&D, growing food safety concerns, technological advancements in analytical instruments, and the availability of funding for life science research. Moreover, the growing proteomics market, rising environmental safety concerns, increasing demand for analytical instruments in several industries, and high demand in emerging nations offer lucrative opportunities for the market players. However, the dearth of skilled professionals and the high cost of technologically advanced instruments are the major factors that are expected to restrain the growth of this market during the forecast period.
The spectroscopy segment is expected to account for the largest market share during the forecast period
Based on technology, the market is segmented into spectroscopy, chromatography, PCR, immunoassays, lyophilization, liquid handling, clinical chemistry analyzers, microscopy, flow cytometry, next-generation sequencing (NGS), centrifuges, electrophoresis, cell counting, and other technologies. The spectroscopy accounted for the largest share of this market in 2019, driven by increased spending on R&D in pharmaceutical companies, government regulations on drug safety, and growing focus on the quality of food products.
The molecular spectroscopy segment to hold a major share of the life science instrumentation market during the forecast period
Based on type, the spectrometry market is segmented into three major types - mass spectrometers, molecular spectrometers, and atomic spectrometers. The wide application of this technology and the presence of stringent regulatory guidelines for drug development and safety are driving the growth of the molecular spectrometry segment.
Europe to account for the second-largest share of the global market in 2019
The life science instrumentation market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. Europe accounted for the second-largest share of the global life science instrumentation market in 2019. Direct & indirect financial investments in analytical instruments, rising healthcare expenditure, an increase in research activity & academia-industry partnerships, and conferences & symposia related to analytical technologies are the key factors driving market growth in the region. Moreover, the rising incidence of infectious diseases and favorable government initiatives are playing a vital role.
- Increasing Investments in Pharmaceutical R&D
- Growing Food Safety Concerns
- Increasing Public-Private Investments in Life Science Research
- Rising Incidence of Target Infectious Diseases and Genetic Disorders
- Advancements in Ngs Platforms
- Declining Costs of Genome Sequencing
- Growing Use of Capillary Electrophoresis With Mass Spectroscopy
- Growing Adoption of Flow Cytometry Techniques in Research and Academia
- Rising Incidence of Hospital-Acquired Infections
- Increasing Outsourcing of Sterilization Services
- High Cost of Instruments
- Dearth of Skilled Professionals
- Technical Limitations Associated With QPCR and DPCR Techniques
- High Cost of Advanced Microscopes
- Growth Opportunities in Emerging Countries
- Application of Ngs in Precision Medicine and Molecular Diagnostics
- Widening Application Scope of Analytical Instruments
- Increased Demand for Personalized Medicine
- Inadequate Infrastructure for Research in Emerging Countries
- Ethical Issues Regarding the Privacy of Generated Data from Instrument Software
- Pricing Pressure Faced by Prominent Players in Emerging Markets
- Agilent Technologies, Inc.
- Becton, Dickinson and Company
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Danaher Corporation
- Eppendorf AG
- GE Healthcare
- Hitachi High-Technologies Corporation
- Horiba Ltd.
- Merck KGAA
- Perkinelmer, Inc.
- Qiagen N.V.
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- Waters Corporation
- Biomerieux S.A.
- Carl Zeiss AG
- Jeol Ltd.
- Tecan Group Ltd.
- Sigma Laborzentrifugen GmbH
For more information about this report visit https://www.researchandmarkets.com/r/vatv2m.